Covidien, manufacturer of sleep therapy and diagnostic products, reported a 12% increase in fourth-quarter 2008 net sales, up to $2.6 billion from $2.3 billion 1 year ago.
“We finished fiscal 2008 with our strongest quarterly operational results since becoming a public company in mid-2007,” says Richard J. Meelia, chairman and CEO of Covidien. “Growth was broad-based, with three of our four segments reporting double-digit increases. Our performance was especially strong in markets outside the US.”
Fiscal year 2008 also ended favorably for Covidien, with the company reporting net sales of $9.9 billion—up 11% from FY 2007. Favorable foreign exchange contributed 4 percentage points to the sales increase.