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Home » Medtronic’s (MDT) CEO Omar Ishrak on Q1 2015 Results – Earnings Call Transcript

Medtronic’s (MDT) CEO Omar Ishrak on Q1 2015 Results – Earnings Call Transcript

Source: Seeking Alpha

Medtronic, Inc. (NYSE:MDT)

Q1 2015 Earnings Conference Call

August 19, 2014 08:00 AM ET


Jeff Warren – IR

Omar Ishrak – Chairman and CEO

Gary Ellis – CFO

Mike Coyle – President of our Cardiac & Vascular Group,

Chris O’Connell – President of our Restorative Therapies Group

Hooman Hakami – President of our Diabetes Group


Mike Weinstein – JPMorgan

Matthew Dodds – Citi

David Lewis – Morgan Stanley

Kristen Stewart – Deutsche Bank

Bob Hopkins – Bank of America

Bruce Nudell – Credit Suisse

Matthew Taylor – Barclays

Josh Jennings – Cowen & Company

Larry Biegelsen – Wells Fargo


Good morning. My name is Vanessa and I will be your conference operator today. At this time I would like to welcome everyone to the Medtronic First Quarter Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session. (Operator Instructions).

Thank you. I would now like to turn the call over to Mr. Jeff Warren. Please go ahead sir.

Jeff Warren

Thank you, Vanessa. Good morning and welcome to Medtronic’s first quarter conference call and webcast. During the next hour, Omar Ishrak, Medtronic Chairman and Chief Executive Officer, and Gary Ellis, Medtronic Chief Financial Officer, will provide comments on the results of our fiscal year 2015 first quarter which ended July 25, 2014. After our prepared remarks, we will be happy to take your questions.

First, a few logistical comments. Earlier this morning, we issued a press release containing our financial statements and our revenue by business summary. You should also note that some of the statements made during this call may be considered forward-looking statements and that actual results might differ materially from those projected in any forward-looking statement.

Additional information concerning factors that could cause actual results to differ is contained in our periodic reports filed with the SEC. Therefore, we do not undertake to update any forward-looking statement. In addition, the reconciliations of any non-GAAP financial measures are available on the Investors portion of our website at Also, unless we say otherwise, references to quarterly results increasing or decreasing are in comparison to the first quarter of fiscal year 2014 and all year-over-year revenue growth rates are given on a constant currency basis. And finally, today’s earnings call does not constitute an offer to sell or the solicitation of an offer to buy any securities or solicitation of any vote or approval.

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