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In line with expectations:

Medtronic Inc. on Tuesday said quarterly earnings rose on higher sales of its implantable devices to manage irregular heart rhythms.

Fiscal fourth-quarter net income rose to $746.6 million, or 62 cents a share. A year ago, the company reported net earnings of $194.4 million, or 16 cents a share, after taking a charge to settle patent litigation over its spine devices.

The stock hit an 18-month low today.

Posted by edelfenbein at May 23, 2006 4:17 PM