Covidien Q3 Profit Rises - Quick Facts

(RTTNews) - Covidien plc (COV) reported third-quarter net income of $306 million or $0.67 per share, compared to $11.4 million or $0.84 per share, last year. Adjusted earnings per share from continuing operations were $1.04, for the quarter.

On average, 19 analysts polled by Thomson Reuters expected the company to report profit per share of $1.00 for the quarter. Analysts' estimates typically exclude special items.

Net sales were $2.69 billion, increased 4%, both on a reported and on an operational basis, from the $2.58 billion in the third quarter, a year ago. Analysts expected revenue of $2.69 billion for the quarter.

José Almeida, chairman, president and CEO, Covidien, said: "We delivered solid performance in the third quarter, returning to double-digit EPS growth. This performance reflects significant increases in Advanced Surgical, aided by global market share gains in vessel sealing and stapling. Substantial growth in both our gastrointestinal and interventional lung offerings, as well as productivity improvements, also contributed to this positive result."