Medtronic 4Q net income surges, revenue rises

NEW YORK (AP) - Medtronic Inc., the world's largest medical-device company, says its fourth-quarter profit surged from results a year ago that had been depressed by a large license payment.

Medtronic says its revenue rose 10 percent, helped by higher sales of implantable heart devices as rival Boston Scientific suspended its U.S. sales of such devices for a month. Boston Scientific made changes to some of its devices without telling regulators.

Medtronic, which is based in Minneapolis, says it earned $954 million, or 86 cents per share, in the quarter ended April 30. That's up from $103 million, or 9 cents per share.

Medtronic says its earnings per share was 89 cents per share excluding one-time costs. That is a penny a share higher than analysts expected.

Its revenue rose to $4.2 billion. Analysts expected $4.19 billion in revenue.