This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

St. Jude Medical Reports Fourth Quarter And Full-Year 2012 Results

Fourth Quarter and Full-Year Earnings Results

In the fourth quarter, the Company recognized after-tax special charges of $113 million, or $0.36 per share, primarily related to our previously announced restructuring activities. Also, during the fourth quarter, the Company recognized a $46 million income tax charge, or $0.15 per share, related to adjustments to uncertain tax positions associated with the effective settlement of domestic income tax audits.

Including these items, reported net earnings for the fourth quarter of 2012 were $0.39 per share. This compares to reported net earnings for the fourth quarter of 2011 of $0.39 per share. For the full-year 2012, reported net earnings were $752 million, or $2.39 per share.

In accordance with GAAP, reported net earnings for the fourth quarter 2012 do not include any benefit from the research and development tax credit, even though this tax credit was extended for 2012 and 2013 earlier this month retroactive to the beginning of 2012. Including the $0.02 per share benefit of this adjustment and excluding the fourth quarter charges, adjusted net earnings for the fourth quarter of 2012 were $285 million, or $0.92 per share. This compares to adjusted net earnings for the fourth quarter of 2011 of $0.86 per share. A reconciliation of the Company's non-GAAP adjusted net earnings per share to the Company's GAAP net earnings per share is provided in the schedule at the end of the press release.

First Quarter and Full-Year 2013 Sales and Earnings Guidance

During a conference call today, St. Jude Medical will provide its range for revenue expectations for the first quarter and full-year 2013 by product category.

The Company expects its consolidated net earnings for the first quarter of 2013 to be in the range of $0.91 to $0.93 per share and for full-year 2013 consolidated net earnings to be in the range of $3.68 to $3.73. A further reconciliation of the Company’s quarterly and annual guidance is provided in the schedule below.

3 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.18 1.64%
FB $117.43 -0.96%
GOOG $692.36 -0.84%
TSLA $232.32 -3.92%
YHOO $36.01 -1.42%


Chart of I:DJI
DOW 17,750.91 -140.25 -0.78%
S&P 500 2,063.37 -18.06 -0.87%
NASDAQ 4,763.2240 -54.37 -1.13%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs