Medical device maker Medtronic Inc said on Tuesday quarterly earnings fell 38 percent due to restructuring and litigation charges.
Net income for the company's fiscal first quarter that ended July 31, fell to $445 million, or 40 cents a share, from $723 million, or 64 cents a share, a year earlier.
Excluding special items, Medtronic earned $883 million, or 79 cents a share. Analysts on average had forecast 78 cents a share, according to Reuters Estimates.
Revenue rose 6 percent to $3.93 billion.
Revenue from implantable cardioverter defibrillators, which manage rapid heart rhythms, rose 1 percent to $775 million. Medtronic is the largest maker of ICDs, with about half of the market for the devices that save lives by shocking a racing heartbeat back to normal rhythm.
Minneapolis-based Medtronic said revenue in its Cardiac Rhythm Disease management division, which includes ICDs and pacemakers, increased nearly 3 percent to $1.34 billion.
Spinal product revenue grew 7 percent to $915 million. Revenue from cardiovascular products, including stents to treat clogged arteries, rose 9 percent to $689 million.
Revenue from neurological devices that treat pain and other conditions rose 7 percent to $373 million, and diabetes product revenue was up 10 percent to $295 million.
Medtronic's shares were last trading up 1.4 percent in premarket activity, compared with a close of $38.00 Monday on the New York Stock Exchange.
(Reporting by Susan Kelly; Editing by Derek Caney and Maureen Bavdek)