Medtronic, Inc. (NYSE:MDT) today updated revenue and
diluted earnings per share (EPS) guidance for fiscal years 2007 and
2008.
For fiscal year 2007, the Company reiterated projected revenue of between $12.5 billion to $13.0 billion. Management increased their previous guidance for EPS to $2.52 to $2.60 (excluding the impact of stock option expensing). After adjusting for the estimated $0.12 EPS impact of expensing stock options, Medtronic provided EPS guidance of $2.40 to $2.48.
For fiscal year 2008, Medtronic noted that revenue estimates of between $14.0 billion and $15.0 billion and EPS estimates of between $2.78 and $2.88 are reasonable.
The earnings per share ranges for fiscal years 2007 and 2008 take into account the expected benefits of the Company's recent financing actions, stock repurchases and the impact of mandatory stock option expensing that Medtronic intends to implement in the first quarter of fiscal year 2007. The foregoing estimates exclude the effect of any special or extraordinary charges that may impact the Company's continuing operations. The changes in guidance only reflect information available to the Company at this time.
Medtronic also underscored its long-standing financial objectives of 15 percent growth over any five-year period for revenue and earnings; a 20 percent or better return on average equity; and 20 percent payout of prior year earnings in the form of cash dividends.
Medtronic, Inc., headquartered in Minneapolis, is the world's leading medical technology Company, alleviating pain, restoring health and extending life for people with chronic disease. Its Internet address is www.medtronic.com.
About Medtronic
Medtronic, Inc. (www.medtronic.com), headquartered in Minneapolis, is the global leader in medical technology - alleviating pain, restoring health, and extending life for millions of people around the world.
This press release contains forward-looking statements, including statements regarding financial projections, which are subject to risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of medical products, governmental regulation, general economic conditions and others described in Medtronic's Quarterly Report on Form 10-Q for the quarter ended January 27, 2006. Actual results may differ materially from anticipated results. Medtronic does not undertake to update its forward-looking statements.
For fiscal year 2007, the Company reiterated projected revenue of between $12.5 billion to $13.0 billion. Management increased their previous guidance for EPS to $2.52 to $2.60 (excluding the impact of stock option expensing). After adjusting for the estimated $0.12 EPS impact of expensing stock options, Medtronic provided EPS guidance of $2.40 to $2.48.
For fiscal year 2008, Medtronic noted that revenue estimates of between $14.0 billion and $15.0 billion and EPS estimates of between $2.78 and $2.88 are reasonable.
The earnings per share ranges for fiscal years 2007 and 2008 take into account the expected benefits of the Company's recent financing actions, stock repurchases and the impact of mandatory stock option expensing that Medtronic intends to implement in the first quarter of fiscal year 2007. The foregoing estimates exclude the effect of any special or extraordinary charges that may impact the Company's continuing operations. The changes in guidance only reflect information available to the Company at this time.
Medtronic also underscored its long-standing financial objectives of 15 percent growth over any five-year period for revenue and earnings; a 20 percent or better return on average equity; and 20 percent payout of prior year earnings in the form of cash dividends.
Medtronic, Inc., headquartered in Minneapolis, is the world's leading medical technology Company, alleviating pain, restoring health and extending life for people with chronic disease. Its Internet address is www.medtronic.com.
About Medtronic
Medtronic, Inc. (www.medtronic.com), headquartered in Minneapolis, is the global leader in medical technology - alleviating pain, restoring health, and extending life for millions of people around the world.
This press release contains forward-looking statements, including statements regarding financial projections, which are subject to risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of medical products, governmental regulation, general economic conditions and others described in Medtronic's Quarterly Report on Form 10-Q for the quarter ended January 27, 2006. Actual results may differ materially from anticipated results. Medtronic does not undertake to update its forward-looking statements.