10-Q/A

                                  UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                               FORM 10-Q/A (NO. 1)


(Mark One)
[X]      QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
         ACT OF 1934
         For the quarterly period ended January 30, 1998

         OR

[ ]      TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
         EXCHANGE ACT OF 1934 
         For the transition period from ______ to ______



                          Commission File Number 1-7707


                                 MEDTRONIC, INC.
             (Exact name of registrant as specified in its charter)


       Minnesota                                                41-0793183
(State of incorporation)                                     (I.R.S. Employer
                                                            Identification No.)


                            7000 Central Avenue N.E.
                          Minneapolis, Minnesota 55432
                    (Address of principal executive offices)

                        Telephone number: (612) 514-4000




Indicate by check mark whether the Registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the Registrant was
required to file such reports) and (2) has been subject to such filing
requirements for the past 90 days. Yes __X__   No ____


Shares of common stock, $.10 par value, outstanding on April 30, 1998:

                                                                 469,045,244




                          PART II -- OTHER INFORMATION


Item 6.     EXHIBITS AND REPORTS ON FORM 8-K

         (a)      Exhibits

                  See Exhibit Index on page following signatures

         (b)      Reports on Form 8-K

                  No report on Form 8-K was filed by the company during the
                  quarter ended January 30, 1998.



                                   SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.



                                                     Medtronic, Inc.
                                                      (Registrant)



Date:  May 29, 1998                         /S/ WILLIAM W. GEORGE
                                            -----------------------------------
                                            William W. George
                                            Chairman
                                            and Chief Executive Officer



Date:  May 29, 1998                         /S/ ROBERT L. RYAN
                                            -----------------------------------
                                            Robert L. Ryan
                                            Senior Vice President
                                            and Chief Financial Officer




                                  Exhibit Index


Exhibit Number             Description

                           Financial Data Schedules(filed in electronic format
                           only):

27.1                       Quarter ended January 30, 1998
27.2                       Quarter ended August 1, 1997 (restated)
27.3                       Fiscal year ended April 30, 1997 (restated)
27.4                       Quarter ended January 31, 1997 (restated)
27.5                       Quarter ended November 1, 1996 (restated)
27.6                       Quarter ended August 2, 1996 (restated)
27.7                       Fiscal year ended April 30, 1996 (restated)

EX-27.1

 


<ARTICLE> 5

<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          APR-30-1998
<PERIOD-START>                             MAY-01-1997
<PERIOD-END>                               JAN-30-1998
<CASH>                                         310,602
<SECURITIES>                                    37,027
<RECEIVABLES>                                  559,758
<ALLOWANCES>                                  (13,446)
<INVENTORY>                                    320,201
<CURRENT-ASSETS>                             1,496,046
<PP&E>                                         971,849
<DEPRECIATION>                               (497,459)
<TOTAL-ASSETS>                               2,659,309
<CURRENT-LIABILITIES>                          600,715
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                        46,922
<OTHER-SE>                                   1,844,844
<TOTAL-LIABILITY-AND-EQUITY>                 2,659,309
<SALES>                                      1,919,765
<TOTAL-REVENUES>                             1,919,765
<CGS>                                          489,809
<TOTAL-COSTS>                                  489,809
<OTHER-EXPENSES>                               966,579
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               5,848
<INCOME-PRETAX>                                457,529
<INCOME-TAX>                                   160,276
<INCOME-CONTINUING>                            297,253
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   297,253
<EPS-PRIMARY>                                      .63
<EPS-DILUTED>                                      .62
        


 

EX-27.2

 


<ARTICLE> 5

<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          APR-30-1998
<PERIOD-START>                             MAY-01-1997
<PERIOD-END>                               AUG-01-1997
<CASH>                                         280,227
<SECURITIES>                                    20,321
<RECEIVABLES>                                  525,957
<ALLOWANCES>                                  (12,876)
<INVENTORY>                                    300,225
<CURRENT-ASSETS>                             1,323,824
<PP&E>                                         972,807
<DEPRECIATION>                               (492,222)
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<CURRENT-LIABILITIES>                          517,533
<BONDS>                                              0
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<OTHER-SE>                                   1,793,894
<TOTAL-LIABILITY-AND-EQUITY>                 2,515,709
<SALES>                                        646,279
<TOTAL-REVENUES>                               646,279
<CGS>                                          160,161
<TOTAL-COSTS>                                  160,161
<OTHER-EXPENSES>                               260,522
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               1,950
<INCOME-PRETAX>                                223,646
<INCOME-TAX>                                    77,158
<INCOME-CONTINUING>                            146,488
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   146,488
<EPS-PRIMARY>                                      .31
<EPS-DILUTED>                                      .31
        


 

EX-27.3

 


<ARTICLE> 5

<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          APR-30-1997
<PERIOD-START>                             MAY-01-1996
<PERIOD-END>                               APR-30-1997
<CASH>                                         197,388
<SECURITIES>                                    53,181
<RECEIVABLES>                                  530,657
<ALLOWANCES>                                  (13,673)
<INVENTORY>                                    282,551
<CURRENT-ASSETS>                             1,237,909
<PP&E>                                         965,002
<DEPRECIATION>                               (477,786)
<TOTAL-ASSETS>                               2,409,210
<CURRENT-LIABILITIES>                          518,691
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                        23,381
<OTHER-SE>                                   1,722,840
<TOTAL-LIABILITY-AND-EQUITY>                 2,409,210
<SALES>                                      2,438,224
<TOTAL-REVENUES>                             2,438,224
<CGS>                                          610,190
<TOTAL-COSTS>                                  610,190
<OTHER-EXPENSES>                             1,009,516
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               9,375
<INCOME-PRETAX>                                809,143
<INCOME-TAX>                                   279,155
<INCOME-CONTINUING>                            529,988
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   529,988
<EPS-PRIMARY>                                     1.11
<EPS-DILUTED>                                     1.09
        


 

EX-27.4

 


<ARTICLE> 5

<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          APR-30-1997
<PERIOD-START>                             MAY-01-1996
<PERIOD-END>                               JAN-31-1997
<CASH>                                          61,136
<SECURITIES>                                   454,872
<RECEIVABLES>                                  507,551
<ALLOWANCES>                                  (17,456)
<INVENTORY>                                    292,557
<CURRENT-ASSETS>                             1,504,624
<PP&E>                                         930,196
<DEPRECIATION>                               (467,570)
<TOTAL-ASSETS>                               2,695,230
<CURRENT-LIABILITIES>                          488,391
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                        23,970
<OTHER-SE>                                   2,009,227
<TOTAL-LIABILITY-AND-EQUITY>                 2,695,230
<SALES>                                      1,797,771
<TOTAL-REVENUES>                             1,797,771
<CGS>                                          458,955
<TOTAL-COSTS>                                  458,955
<OTHER-EXPENSES>                               745,679
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               6,148
<INCOME-PRETAX>                                586,989
<INCOME-TAX>                                   202,511
<INCOME-CONTINUING>                            384,478
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   384,478
<EPS-PRIMARY>                                      .80
<EPS-DILUTED>                                      .79
        


 

EX-27.5

 


<ARTICLE> 5

<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          APR-30-1997
<PERIOD-START>                             MAY-01-1996
<PERIOD-END>                               NOV-01-1996
<CASH>                                          88,952
<SECURITIES>                                   393,376
<RECEIVABLES>                                  511,134
<ALLOWANCES>                                  (18,106)
<INVENTORY>                                    285,530
<CURRENT-ASSETS>                             1,467,250
<PP&E>                                         916,848
<DEPRECIATION>                               (460,332)
<TOTAL-ASSETS>                               2,672,488
<CURRENT-LIABILITIES>                          471,063
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                        23,993
<OTHER-SE>                                   1,995,734
<TOTAL-LIABILITY-AND-EQUITY>                 2,672,488
<SALES>                                      1,199,022
<TOTAL-REVENUES>                             1,199,022
<CGS>                                          306,641
<TOTAL-COSTS>                                  306,641
<OTHER-EXPENSES>                               497,281
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               4,611
<INCOME-PRETAX>                                390,489
<INCOME-TAX>                                   134,719
<INCOME-CONTINUING>                            255,770
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   255,770
<EPS-PRIMARY>                                      .53
<EPS-DILUTED>                                      .52
        


 

EX-27.6

 


<ARTICLE> 5

<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          APR-30-1997
<PERIOD-START>                             MAY-01-1996
<PERIOD-END>                               AUG-02-1996
<CASH>                                         121,090
<SECURITIES>                                   358,902
<RECEIVABLES>                                  493,642
<ALLOWANCES>                                  (18,609)
<INVENTORY>                                    265,669
<CURRENT-ASSETS>                             1,427,983
<PP&E>                                         877,566
<DEPRECIATION>                               (442,132)
<TOTAL-ASSETS>                               2,568,207
<CURRENT-LIABILITIES>                          459,241
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                        23,955
<OTHER-SE>                                   1,895,005
<TOTAL-LIABILITY-AND-EQUITY>                 2,568,207
<SALES>                                        600,870
<TOTAL-REVENUES>                               600,870
<CGS>                                          155,581
<TOTAL-COSTS>                                  155,581
<OTHER-EXPENSES>                               248,723
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               2,023
<INCOME-PRETAX>                                194,543
<INCOME-TAX>                                    67,117
<INCOME-CONTINUING>                            127,426
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   127,426
<EPS-PRIMARY>                                      .27
<EPS-DILUTED>                                      .26
        


 

EX-27.7

 


<ARTICLE> 5

<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          APR-30-1996
<PERIOD-START>                             MAY-01-1995
<PERIOD-END>                               APR-30-1996
<CASH>                                         151,050
<SECURITIES>                                   355,741
<RECEIVABLES>                                  476,184
<ALLOWANCES>                                  (18,094)
<INVENTORY>                                    257,478
<CURRENT-ASSETS>                             1,391,273
<PP&E>                                         835,739
<DEPRECIATION>                               (418,826)
<TOTAL-ASSETS>                               2,554,700
<CURRENT-LIABILITIES>                          529,148
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                        23,931
<OTHER-SE>                                   1,812,360
<TOTAL-LIABILITY-AND-EQUITY>                 2,554,700
<SALES>                                      2,172,100
<TOTAL-REVENUES>                             2,172,100
<CGS>                                          591,433
<TOTAL-COSTS>                                  591,433
<OTHER-EXPENSES>                               913,581
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               8,089
<INCOME-PRETAX>                                658,997
<INCOME-TAX>                                   230,691
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<EPS-PRIMARY>                                      .90
<EPS-DILUTED>                                      .89