Covidien takes fourth quarter charge on trademark
Created: Oct 17, 2007 11:00 AM
NEW YORK (Bloomberg) — Bermuda-based Covidien, formerly known as Tyco Healthcare, has taken a $33 million charge in the fourth quarter of fiscal 2007 on a trademark associated with its Imaging Solutions unit.
The trademark will be discontinued, Covidien said in a regulatory filing. Covidien spokesman Bruce Farmer didn't immediately return a telephone call for comment.
Covidien was part of the diversified manufacturing and service company built by former chief executive officer L. Dennis Kozlowski, now in New York State prison for stealing from Tyco. Covidien began trading on the New York Stock Exchange in July.