TE Connectivity (NYSE:TEL) today reported its healthcare sales were up 7% to $179 million for the first quarter of its 2020 fiscal year.
Schaffhausen, Switzerland-based TE Connectivity reported overall sales of $3.2 billion for the quarter ended Dec. 27, 2019, down -5% from the same quarter one year ago. Earnings per share of $1.21 exceeded Wall Street analysts’ consensus of $1.14 per share on sales of $3.12 billion.
Medical sales for the quarter were driven by interventional applications such as interventional catheters integrated with cables and sensors designed to produce high-resolution images. Medical sales also helped boost the company’s Q1 industrial equipment revenue of $927 million, which was off by $1 million for the quarter.
TE Connectivity’s top medical markets include peripheral vascular, structural heart, electrophysiology and neurovascular.
