UPDATE 1-St. Jude forecasts 2014 growth in sales and revenue

Wed Jan 22, 2014 7:59am EST

Jan 22 (Reuters) - Medical device maker St. Jude Medical Inc reported a higher fourth-quarter profit on Wednesday, as it had expected, and forecast growth in both earnings and revenue in 2014.

St. Jude said it expected 2014 revenue in the range of $5.6 billion to $5.75 billion, and earnings of $3.94 to $3.99 per share. That compares with sales of $5.5 billion and earnings excluding charges of $3.76 per share in 2013.

For 2014, analysts had expected earnings of $3.98 per share and revenue of $5.64 billion, according to Thomson Reuters I/B/E/S.

St. Jude said on Jan. 13 its fourth quarter had been better than expected and that it would report earnings of 97 cents to 99 cents per share, excluding restructuring costs and charges.

Excluding special items, the company reported a profit of $294 million, or 99 cents per share, up from $285 million, or 92 cents a share, a year earlier.

The company reported fourth-quarter revenue of $1.42 billion. Analysts had forecast adjusted earnings of 97 cents per share and revenue of $1.38 billion.

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