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Previous: MEDISCIENCE TECHNOLOGY CORP, NT 10-K, 1998-05-29 |
Next: MERRILL LYNCH & CO INC, 424B3, 1998-05-29 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 10-Q/A (NO. 1)
(Mark One)
[X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the quarterly period ended January 30, 1998
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period from ______ to ______
Commission File Number 1-7707
MEDTRONIC, INC.
(Exact name of registrant as specified in its charter)
Minnesota 41-0793183
(State of incorporation) (I.R.S. Employer
Identification No.)
7000 Central Avenue N.E.
Minneapolis, Minnesota 55432
(Address of principal executive offices)
Telephone number: (612) 514-4000
Indicate by check mark whether the Registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the Registrant was
required to file such reports) and (2) has been subject to such filing
requirements for the past 90 days. Yes __X__ No ____
Shares of common stock, $.10 par value, outstanding on April 30, 1998:
469,045,244
<PAGE>
PART II -- OTHER INFORMATION
Item 6. EXHIBITS AND REPORTS ON FORM 8-K
(a) Exhibits
See Exhibit Index on page following signatures
(b) Reports on Form 8-K
No report on Form 8-K was filed by the company during the
quarter ended January 30, 1998.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Medtronic, Inc.
(Registrant)
Date: May 29, 1998 /S/ WILLIAM W. GEORGE
-----------------------------------
William W. George
Chairman
and Chief Executive Officer
Date: May 29, 1998 /S/ ROBERT L. RYAN
-----------------------------------
Robert L. Ryan
Senior Vice President
and Chief Financial Officer
<PAGE>
Exhibit Index
Exhibit Number Description
Financial Data Schedules(filed in electronic format
only):
27.1 Quarter ended January 30, 1998
27.2 Quarter ended August 1, 1997 (restated)
27.3 Fiscal year ended April 30, 1997 (restated)
27.4 Quarter ended January 31, 1997 (restated)
27.5 Quarter ended November 1, 1996 (restated)
27.6 Quarter ended August 2, 1996 (restated)
27.7 Fiscal year ended April 30, 1996 (restated)
<TABLE> <S> <C>
<ARTICLE> 5
<RESTATED>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> APR-30-1998
<PERIOD-START> MAY-01-1997
<PERIOD-END> JAN-30-1998
<CASH> 310,602
<SECURITIES> 37,027
<RECEIVABLES> 559,758
<ALLOWANCES> (13,446)
<INVENTORY> 320,201
<CURRENT-ASSETS> 1,496,046
<PP&E> 971,849
<DEPRECIATION> (497,459)
<TOTAL-ASSETS> 2,659,309
<CURRENT-LIABILITIES> 600,715
<BONDS> 0
0
0
<COMMON> 46,922
<OTHER-SE> 1,844,844
<TOTAL-LIABILITY-AND-EQUITY> 2,659,309
<SALES> 1,919,765
<TOTAL-REVENUES> 1,919,765
<CGS> 489,809
<TOTAL-COSTS> 489,809
<OTHER-EXPENSES> 966,579
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 5,848
<INCOME-PRETAX> 457,529
<INCOME-TAX> 160,276
<INCOME-CONTINUING> 297,253
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 297,253
<EPS-PRIMARY> .63
<EPS-DILUTED> .62
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<RESTATED>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> APR-30-1998
<PERIOD-START> MAY-01-1997
<PERIOD-END> AUG-01-1997
<CASH> 280,227
<SECURITIES> 20,321
<RECEIVABLES> 525,957
<ALLOWANCES> (12,876)
<INVENTORY> 300,225
<CURRENT-ASSETS> 1,323,824
<PP&E> 972,807
<DEPRECIATION> (492,222)
<TOTAL-ASSETS> 2,515,709
<CURRENT-LIABILITIES> 517,533
<BONDS> 0
0
0
<COMMON> 46,866
<OTHER-SE> 1,793,894
<TOTAL-LIABILITY-AND-EQUITY> 2,515,709
<SALES> 646,279
<TOTAL-REVENUES> 646,279
<CGS> 160,161
<TOTAL-COSTS> 160,161
<OTHER-EXPENSES> 260,522
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 1,950
<INCOME-PRETAX> 223,646
<INCOME-TAX> 77,158
<INCOME-CONTINUING> 146,488
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 146,488
<EPS-PRIMARY> .31
<EPS-DILUTED> .31
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<RESTATED>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> APR-30-1997
<PERIOD-START> MAY-01-1996
<PERIOD-END> APR-30-1997
<CASH> 197,388
<SECURITIES> 53,181
<RECEIVABLES> 530,657
<ALLOWANCES> (13,673)
<INVENTORY> 282,551
<CURRENT-ASSETS> 1,237,909
<PP&E> 965,002
<DEPRECIATION> (477,786)
<TOTAL-ASSETS> 2,409,210
<CURRENT-LIABILITIES> 518,691
<BONDS> 0
0
0
<COMMON> 23,381
<OTHER-SE> 1,722,840
<TOTAL-LIABILITY-AND-EQUITY> 2,409,210
<SALES> 2,438,224
<TOTAL-REVENUES> 2,438,224
<CGS> 610,190
<TOTAL-COSTS> 610,190
<OTHER-EXPENSES> 1,009,516
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 9,375
<INCOME-PRETAX> 809,143
<INCOME-TAX> 279,155
<INCOME-CONTINUING> 529,988
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 529,988
<EPS-PRIMARY> 1.11
<EPS-DILUTED> 1.09
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<RESTATED>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> APR-30-1997
<PERIOD-START> MAY-01-1996
<PERIOD-END> JAN-31-1997
<CASH> 61,136
<SECURITIES> 454,872
<RECEIVABLES> 507,551
<ALLOWANCES> (17,456)
<INVENTORY> 292,557
<CURRENT-ASSETS> 1,504,624
<PP&E> 930,196
<DEPRECIATION> (467,570)
<TOTAL-ASSETS> 2,695,230
<CURRENT-LIABILITIES> 488,391
<BONDS> 0
0
0
<COMMON> 23,970
<OTHER-SE> 2,009,227
<TOTAL-LIABILITY-AND-EQUITY> 2,695,230
<SALES> 1,797,771
<TOTAL-REVENUES> 1,797,771
<CGS> 458,955
<TOTAL-COSTS> 458,955
<OTHER-EXPENSES> 745,679
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 6,148
<INCOME-PRETAX> 586,989
<INCOME-TAX> 202,511
<INCOME-CONTINUING> 384,478
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 384,478
<EPS-PRIMARY> .80
<EPS-DILUTED> .79
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<RESTATED>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> APR-30-1997
<PERIOD-START> MAY-01-1996
<PERIOD-END> NOV-01-1996
<CASH> 88,952
<SECURITIES> 393,376
<RECEIVABLES> 511,134
<ALLOWANCES> (18,106)
<INVENTORY> 285,530
<CURRENT-ASSETS> 1,467,250
<PP&E> 916,848
<DEPRECIATION> (460,332)
<TOTAL-ASSETS> 2,672,488
<CURRENT-LIABILITIES> 471,063
<BONDS> 0
0
0
<COMMON> 23,993
<OTHER-SE> 1,995,734
<TOTAL-LIABILITY-AND-EQUITY> 2,672,488
<SALES> 1,199,022
<TOTAL-REVENUES> 1,199,022
<CGS> 306,641
<TOTAL-COSTS> 306,641
<OTHER-EXPENSES> 497,281
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 4,611
<INCOME-PRETAX> 390,489
<INCOME-TAX> 134,719
<INCOME-CONTINUING> 255,770
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 255,770
<EPS-PRIMARY> .53
<EPS-DILUTED> .52
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<RESTATED>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> APR-30-1997
<PERIOD-START> MAY-01-1996
<PERIOD-END> AUG-02-1996
<CASH> 121,090
<SECURITIES> 358,902
<RECEIVABLES> 493,642
<ALLOWANCES> (18,609)
<INVENTORY> 265,669
<CURRENT-ASSETS> 1,427,983
<PP&E> 877,566
<DEPRECIATION> (442,132)
<TOTAL-ASSETS> 2,568,207
<CURRENT-LIABILITIES> 459,241
<BONDS> 0
0
0
<COMMON> 23,955
<OTHER-SE> 1,895,005
<TOTAL-LIABILITY-AND-EQUITY> 2,568,207
<SALES> 600,870
<TOTAL-REVENUES> 600,870
<CGS> 155,581
<TOTAL-COSTS> 155,581
<OTHER-EXPENSES> 248,723
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 2,023
<INCOME-PRETAX> 194,543
<INCOME-TAX> 67,117
<INCOME-CONTINUING> 127,426
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 127,426
<EPS-PRIMARY> .27
<EPS-DILUTED> .26
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<RESTATED>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> APR-30-1996
<PERIOD-START> MAY-01-1995
<PERIOD-END> APR-30-1996
<CASH> 151,050
<SECURITIES> 355,741
<RECEIVABLES> 476,184
<ALLOWANCES> (18,094)
<INVENTORY> 257,478
<CURRENT-ASSETS> 1,391,273
<PP&E> 835,739
<DEPRECIATION> (418,826)
<TOTAL-ASSETS> 2,554,700
<CURRENT-LIABILITIES> 529,148
<BONDS> 0
0
0
<COMMON> 23,931
<OTHER-SE> 1,812,360
<TOTAL-LIABILITY-AND-EQUITY> 2,554,700
<SALES> 2,172,100
<TOTAL-REVENUES> 2,172,100
<CGS> 591,433
<TOTAL-COSTS> 591,433
<OTHER-EXPENSES> 913,581
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 8,089
<INCOME-PRETAX> 658,997
<INCOME-TAX> 230,691
<INCOME-CONTINUING> 428,306
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 428,306
<EPS-PRIMARY> .90
<EPS-DILUTED> .89
</TABLE>
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