St. Jude Medical Inc. (STJ) said it plans to report higher
fourth-quarter results, with revenue edging analysts' expectations
amid strong atrial fibrilation results.
"We are encouraged by our sales this quarter, and in particular
with the sequential increase in sales seen in every product
category during the fourth quarter, particularly with fewer selling
days," said President and Chief Executive Daniel Starks.
Shares of medical-device maker rose on the news and were up 1.1%
to $39.82 in recent trading.
St. Jude expects to report fourth-quarter sales of about $1.20
billion and said it is "comfortable with its guidance" of 61 cents
to 63 cents in per-share earnings. Analysts, on average, expected
earnings of 62 cents on $1.19 billion in sales, according to a
survey by Thomson Reuters.
A year earlier, the company posted earnings of 60 cents on $1.13
billion in revenue.
St. Jude said its cardiac-rhythm-management sales were $698
million, falling within company expectations, while atrial
fibrilation product sales were $171 million, above the company's
forecast range. Cardiovascular products had sales of $240 million,
near the upper end of St. Jude's range, and neuromodulation
products saw higher-than-anticipated sales of $94 million.
-By Nathan Becker, Dow Jones Newswires; 212-416-2855;
nathan.becker@dowjones.com;