Oct 16 St. Jude Medical posted a 49
percent jump in third-quarter profit as increased sales of
devices to treat abnormal heart rhythms offset a decline in
sales of pacemakers.
Net earnings attributable to St. Jude rose to $262 million,
or 90 cents per share, in the three months to Sept. 28, from
$176 million, or 56 cents per share, a year earlier.
Total sales rose about 1 percent to $1.34 billion.
Sales of atrial fibrillation devices, which treat abnormal
heart rhythms, rose 7 percent to $235 million. Sales of
pacemakers fell 5 percent to $264 million.
Analysts on average had expected a profit of 89 cents per
share on sales of $1.32 billion, according to Thomson Reuters
The St. Paul, Minnesota-based company raised its full-year
earnings forecast to $3.72-$3.74 per share from $3.70-$3.73 per
share it estimated previously.
The company said it expects full-year revenue of $5.39
billion to $5.47 billion, compared with the average analyst
estimate of $5.45 billion.
St. Jude, which competes with Medtronic Inc and
Boston Scientific Inc in the implantable cardioverter
defibrillators (ICD) business, has been working to restore
market share after the 2011 recall of its Riata lead wires that
connect ICDs to the heart.