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Summary Box: Medtronic profit dips in 1Q

Tue, 08/23/2011 - 9:45am
The Associated Press

PROFIT DIPS: Medtronic, the world's largest medical device maker, said its first-quarter profit dipped 1 percent as challenges to two of its biggest businesses outweighed increased sales overseas.

EMERGING REVENUE: The company said more than 45 percent of its revenue, or $1.8 billion, came from overseas, especially from emerging markets like China, Latin America and the Middle East.

TROUBLE AT HOME: The company's two biggest products, heart defibrillators and spinal implants, continued to struggle in the U.S., where reduced hospital budgets and safety concerns have curbed sales. U.S. defibrillator sales fell about 12 percent; spinal implant sales fell 6.7 percent.

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