By RTT News,
January 22, 2014, 07:43:00 AM EDT
(RTTNews.com) - Medical equipment maker St. Jude Medical, Inc. ( STJ ) posted higher fourth-quarter net earnings attributable to the company of $123 million, or $0.42 a share, versus last year's $120 million, or $0.39 a share. Adjusted net earnings attributable to St. Jude Medical were $294 million, or $0.99 per share in the recent period. On average, 24 analysts polled by Thomson Reuters expected earnings per share of $0.97 for the quarter. Analysts' estimates typically exclude one-time items.
The firm clocked net sales of $1.42 billion in the fourth quarter of 2013, up 4 percent from $1.37 billion in the 2012 period. Analysts estimated revenues of $1.38 billion for the quarter. Unfavorable foreign currency translation comparisons reduced fourth-quarter sales by some $27 million. On a constant-currency basis, net sales grew by nearly 6 percent over the fourth quarter of 2012.
For first quarter 2014, the company sees net earnings per share attributable to St. Jude Medical, Inc. in the range of $0.89 - $0.91, and adjusted earnings per share of $0.94 - $ 0.96; while 17 analysts anticipate earnings of $0.95 per share.
For full year 2014, St. Jude expects earnings per share between $3.80 and $3.85, as well as adjusted earnings per share between $3.94 and $3.99. Analysts project earnings of $3.98 per share in 2014.
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