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Medtronic posts lower earnings on charges

Tuesday, 18 Feb 2014 | 7:34 AM ET

Feb 18 (Reuters) - Medtronic Inc on Tuesday reported lower quarterly net earnings due to charges for the failed clinical study of a treatment being developed for high blood pressure.

The maker of pacemakers, spinal products, insulin pumps and other medical devices said net earnings were $762 million, or 75 cents a share, in the third quarter ended Jan. 24. That compared with $988 million, or 97 cents a share, a year earlier.

Revenue rose 3 percent to $4.16 billion.

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