Healthcare technology firm Covidien of Dublin, Ireland, has reported mixed results for its fourth quarter and fiscal 2009 (end-September 25).
Radiopharmaceutical sales for the quarter showed a 20% gain to $163 million, compared with $136 million in the fourth quarter of fiscal 2008. Contrast product sales for the fourth quarter of 2009 were unchanged at $159 million, compared with the same quarter a year ago.
For the fourth quarter, sales in the Medical Devices business climbed 7% to $1.6 billion, compared with $1.5 billion in 2008. For fiscal 2009, sales in this business were up 2% to $6.1 billion, versus $5.9 billion in 2008.
For the fiscal year, Covidien, as a whole, posted net sales of $10.7 billion, a 3% increase compared to $10.4 billion in fiscal 2008. Net income was $907 million, compared with $1.3 billion in fiscal 2008.
The company's net sales in its fiscal 2009 fourth quarter remained flat compared to 2008, at $2.7 billion, with unfavorable foreign exchange of $54 million reducing the quarterly sales growth rate by approximately two percentage points. Net income decreased from $409 million in 2008 to $56 million.
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