Covidien Q1 Profit Increases - Quick Facts

(RTTNews) - Medical device maker Covidien plc (COV) reported first-quarter net income of $511 million or $1.12 per share, higher than $398 million or $0.88 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter was $1.11 per share, compared to $1.00 per share in the year-ago quarter.

On average, 15 analysts polled by Thomson Reuters expected the company to report earnings of $1.05 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter grew 2 percent to $2.69 billion from $2.64 billion in the same quarter last year. Analysts expected revenues of $2.72 billion for the quarter. Operational sales growth was 6 percent, excluding foreign exchange rate movement.