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Covidien Ltd. (COV) filed Quarterly Report for the period ended 2011-12-30.
Covidien has a market cap of $25.15 billion; its shares were traded at around $52.13 with a P/E ratio of 12.6 and P/S ratio of 2.1. The dividend yield of Covidien stocks is 1.7%. Covidien had an annual average earning growth of 3.9% over the past 5 years.
This is the annual revenues and earnings per share of COV over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of COV.
Highlight of Business Operations:
Net sales generated by our businesses in the United States were $1.593 billion and $1.527 billion for the first quarter of fiscal 2012 and 2011, respectively. Our non-U.S. businesses generated net sales of $1.305 billion and $1.242 billion for the first quarter of fiscal 2012 and 2011, respectively. Our business outside the United States accounted for approximately 45% of our net sales for both the first quarter of fiscal 2012 and 2011.Sales to external customers are reflected in the regions based on the reporting entity that records the transaction. U.S. sales include sales of neurovascular and peripheral products exported to customers outside the United States and invoiced in multiple currencies of approximately $75 million and $65 million for the first quarter of fiscal 2012 and 2011, respectively. Accordingly, these U.S. sales are subject to the effects of changes in foreign currency exchange rates.
Cost of goods sold—Cost of goods sold was 41.3% and 43.3% of net sales in the first quarter of fiscal 2012 and fiscal 2011, respectively. The decrease in cost of goods sold as a percent of net sales was primarily attributable to the impact of currency translation, favorable mix of businesses and manufacturing cost reductions.
Research and development expenses—Research and development expenses increased $25 million, or 21%, to $144 million in the first quarter of fiscal 2012, compared with the first quarter of fiscal 2011. The increase resulted primarily from increased spending within our Medical Devices segment to support our growth initiatives and, to a much lesser extent, within our Pharmaceuticals segment. As a percentage of our net sales, research and development expenses was 5.0% and 4.3% for the first quarter of fiscal 2012 and fiscal 2011, respectively.
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