Medtronic, the world's largest stand-alone medical device maker, reported a 1.5 per cent dip in quarterly revenue, as sales for its heart, vascular and minimally invasive products fell.

The company’s net earnings rose to $929 million, or 66 cents per share, in the first quarter ended July 29th, from $820 million, or 57 cents per share, a year earlier.

Excluding items, the Dublin-based company earned $1.03 per share.

Revenue fell marginally to $7.17 billion from $7.27 billion.

Medtronic had an extra week of sales in last year’s first- quarter. – (Reuters)