St. Jude Medical, Inc. (STJ) Reaffirms Q4 EPS Guidance, Offers Preliminary Sales Results
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St. Jude Medical, Inc. (NYSE: STJ) today announced preliminary revenue results for the fourth quarter ended December 31, 2011. These results will be referenced today in a presentation by Daniel J. Starks, Chairman, President and Chief Executive Officer of St. Jude Medical, at the 30th Annual JP Morgan Healthcare Conference in San Francisco. A webcast of the presentation can be accessed live on the Investor Relations section of our website sjm.com beginning at 3:00 p.m. PST.
The Company expects to report net sales of approximately $1.4 billion for the fourth quarter of 2011, versus the consensus of $1.4 billion, an increase of approximately 4 percent versus the fourth quarter of 2010. Excluding the impact of foreign currency exchange rates, sales increased approximately 3% during the fourth quarter.
Fourth quarter cardiac rhythm management sales were approximately $728 million, a 4 percent decrease compared with the fourth quarter of 2010. Fourth quarter sales of implantable cardiac defibrillators were approximately $436 million, a 5 percent decrease from the comparable quarter in 2010. Pacemaker sales during the quarter were approximately $292 million, a 4 percent decrease compared with the fourth quarter of 2010.
Atrial Fibrillation product sales for the fourth quarter were approximately $218 million, an increase of 13 percent over the fourth quarter of 2010.
Total cardiovascular sales, which primarily include vascular and structural heart products, were $340 million for the fourth quarter of 2011, an 18 percent increase over the fourth quarter of 2010. Sales of vascular products in the fourth quarter of 2011 were $190 million, an 8 percent increase from the comparable quarter in 2010. Structural heart product sales for the fourth quarter of 2011 were $150 million, a 35 percent increase over the fourth quarter of 2010.
Fourth quarter sales of neuromodulation products were approximately $121 million, a 12 percent increase compared to the fourth quarter of 2010.
In addition, the Company is comfortable that its fourth quarter adjusted consolidated earnings per share will be within the company's previously issued guidance of $0.83 to $0.85, excluding net charges totaling approximately $0.30 to $0.35 per share, primarily related to ongoing restructuring actions and certain other corporate charges.
The Company expects to report net sales of approximately $1.4 billion for the fourth quarter of 2011, versus the consensus of $1.4 billion, an increase of approximately 4 percent versus the fourth quarter of 2010. Excluding the impact of foreign currency exchange rates, sales increased approximately 3% during the fourth quarter.
Fourth quarter cardiac rhythm management sales were approximately $728 million, a 4 percent decrease compared with the fourth quarter of 2010. Fourth quarter sales of implantable cardiac defibrillators were approximately $436 million, a 5 percent decrease from the comparable quarter in 2010. Pacemaker sales during the quarter were approximately $292 million, a 4 percent decrease compared with the fourth quarter of 2010.
Atrial Fibrillation product sales for the fourth quarter were approximately $218 million, an increase of 13 percent over the fourth quarter of 2010.
Total cardiovascular sales, which primarily include vascular and structural heart products, were $340 million for the fourth quarter of 2011, an 18 percent increase over the fourth quarter of 2010. Sales of vascular products in the fourth quarter of 2011 were $190 million, an 8 percent increase from the comparable quarter in 2010. Structural heart product sales for the fourth quarter of 2011 were $150 million, a 35 percent increase over the fourth quarter of 2010.
Fourth quarter sales of neuromodulation products were approximately $121 million, a 12 percent increase compared to the fourth quarter of 2010.
In addition, the Company is comfortable that its fourth quarter adjusted consolidated earnings per share will be within the company's previously issued guidance of $0.83 to $0.85, excluding net charges totaling approximately $0.30 to $0.35 per share, primarily related to ongoing restructuring actions and certain other corporate charges.
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