Earnings per share were $0.88 for the second quarter of 2012, a 4% increase over adjusted earnings per share of $0.85 in the second quarter of 2011. We estimate that on a constant currency basis, earnings per share increased approximately 11% versus last year.Before we discuss our second quarter 2012 sales results by product category with guidance for the third quarter and the remainder of 2012, let me comment on foreign currency. As discussed on prior calls, the 2 main currencies influencing St. Jude Medical's operations are the euro and the yen. In preparing our sales and earnings guidance for the second quarter and full year 2012, we used exchange rates which assumed that each euro would translate into about $1.28 to $1.33 and that each JPY 80 to JPY 85 would translate into USD $1. For the second quarter, the actual average exchange rates for the euro and the yen were consistent with these assumptions.
St. Jude Medical Management Discusses Q2 2012 Results - Earnings Call Transcript
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