St. Jude 4th-qtr profit beats estimates; expects strong 2013

Wed Jan 23, 2013 7:58am EST

Jan 23 (Reuters) - St. Jude Medical Inc reported a better-than-expected quarterly profit, helped by lower costs, and forecast 2013 profit above market estimates.

Net income for the fourth quarter fell to $120 million, or 39 cents per share, from $125 million, or 39 cents per share, in the year-ago quarter.

Excluding one-time items, the company earned 92 cents a share. Analysts had expected a profit of 90 cents, according to Thomson Reuters I/B/E/S.