Minneapolis-based Medtronic announced its net earnings in the United States in the second quarter of fiscal year 2014 increased by 39 percent, from $646 million in the same quarter in 2012 to $902 million in 2013.
The company's net revenue in the United States increased by 2.4 percent, from $4 billion in the same period last year to $4.2 billion this year.
"Our second quarter revenue growth was in-line with our outlook for the year, and we are performing at or better than the market in almost every one of our business lines," said Omar Ishrak, Medtronic chairman and CEO in the news release.
The company's United States spine revenue fell from $549 million in the second quarter of 2013 to $517 million in the most recent quarter. The Core Spine business reported $421 million in the second quarter of 2014, down from $426 million during the first quarter of the fiscal year and $430 million during the second quarter of 2013.
In the U.S., Medtronic's BMP revenue plummeted to $96 million in the second quarter of 2014 from $119 million over the same period last year. BMP revenue has been on a steady decline, reporting $110 million during the first quarter of this fiscal year. Internationally, Medtronic's BMP sales were $14 million, about the same as the previous quarter and the same period in 2013. Overall international spine sales were flat at $229 million.
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