St. Jude’s Earnings

St. Jude Medical (STJ) reported that its earnings rose 28% for the third quarter. After charges, the company earned 40 cents a share, one cent more than Wall Street was expecting.

Sales of implantable defibrillators—surgically implanted devices that correct an abnormal heartbeat with a jolt of electricity—rose 68 percent to $277 million from a year ago. Rival Guidant Corp. spent the third quarter dealing with a recall affecting thousands of similar devices. St. Jude pacemaker sales increased 6 percent, to $231 million from the year-ago quarter.

The stock is trading higher in the pre-market.

Posted by on October 17th, 2005 at 8:29 am


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