UPDATE: Covidien FQ4 Net Profit Rises 2.2%

Covidien PLC

reported a 2.2% rise in its fiscal fourth-quarter net income. Covidien's quarterly earnings climbed to $461 million, or $0.95 per share, from $451 million, or $0.92 per share, in the year-ago period. Its adjusted earnings from continuing operations came in at $1.02 per share. Its sales declined to $3 billion from $3.08 billion. However, analysts were expecting a profit of $1 per share on revenue of $2.98 billion. Covidien shares closed at $53.36 yesterday.