(Reuters) – Heart device maker St. Jude Medical (NYSE:STJ) reported a lower quarterly profit, as it took a $39 million charge related to impairment and restructuring, despite a rise in sales of its devices to treat abnormal heart rhythms.
Net profit fell to $238 million, or 82¢ per share, for the 3rd quarter ended Sept. 27 from $262 million, or 91¢ per share, a year earlier.
On an adjusted basis, it earned $281 million, or 97¢ per share.
Revenue rose 3% to $1.37 billion.
Sales of implantable cardioverter defibrillators and pacemakers, St. Jude’s biggest product category, rose 1% to $688 million.
St. Jude said it now expects 2014 adjusted earnings per share of $3.97 to $3.99, compared with prior guidance of $3.96 to $4.01, and lowered its full-year sales outlook from $5.64 billion to $5.76 billion to $5.57 billion to $5.65 billion. Fourth-quarter adjusted EPS are expected to be between $1.02 and $1.04, on sales of $1.39 billion to $1.47 billion, according to a press release.