St. Jude Medical's Q4, 2012 results beat Wall Street's expectations

January 23, 2013 by MassDevice staff

St. Jude Medical's profits for the 4th quarter and 2012 top expectations on Wall Street, despite lower sales and earnings numbers.

St. Jude Medical

St. Jude Medical (NYSE:STJ) posted sales and profit declines for the 4th quarter and 2012, but beat analysts' expectations anyway.

The St. Paul, Minn.-based medical device company reported annual profits of $752 million, or $2.39 per share, on sales of $5.50 billion during the 12 months ended Dec. 29, 2012. That amounts to a 4% decline in earnings and a 2.5% sales drop compared with 2011.

Fourth-quarter profits were $120 million, or 39¢ per share, on sales of $1.37 billion, for declines of 9.0% and 1.9%, respectively, according to a press release.

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St. Jude said it expects net 1st-quarter earnings of 91¢-93¢ and full-year earnings of $3.68-$3.73.