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Medtronic Earnings Fall 69%, Sales Dip
NEW YORK -- Medtronic(MDT Quote) said its fiscal fourth-quarter profit plunged as sales slipped and it absorbed restructuring and other charges.
The company's adjusted fourth-quarter earnings matched Wall Street expectations.
The Minneapolis-based medical device maker said Tuesday it earned $250 million, or 22 cents a share, in the three months ended April 24. That's down 69% from a profit of $812 million, or 72 cents a share, a year earlier.
Excluding charges, the company said it earned 82 cents a share, matching the estimates of analysts. ...
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