This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
TheStreet Open House

St. Jude Medical Reports Fourth Quarter And Full-Year 2013 Results

St. Jude Medical, Inc. (NYSE: STJ) today reported sales and net earnings for the fourth quarter and full year ended Dec. 28, 2013.

Fourth quarter highlights:

  • Net sales increased by approximately 6 percent on a constant-currency basis over the fourth quarter of 2012
  • Completed the acquisition of Nanostim, which adds the world’s first leadless pacemaker to the St. Jude Medical product portfolio
  • Cardiac Rhythm Management sales increased 5 percent on a constant-currency basis over the fourth quarter of 2012
  • Adjusted net earnings per share increased by 8 percent, compared with the fourth quarter of 2012 and 12 percent on a constant-currency basis

Fourth Quarter and Full-Year 2013 Sales

The company reported net sales of $1.422 billion in the fourth quarter of 2013, a 4 percent increase over net sales of $1.372 billion in the fourth quarter of 2012. Unfavorable foreign currency translation comparisons decreased fourth quarter sales by approximately $27 million. On a constant-currency basis, net sales increased by approximately 6 percent over the fourth quarter of 2012.

For the full-year 2013, net sales were $5.501 billion, compared with $5.503 billion in 2012, which is flat with the prior year. Unfavorable foreign currency translation comparisons decreased full-year 2013 sales by about $101 million. On a constant-currency basis, net sales increased 2 percent over the prior year.

Commenting on the company’s financial results, St. Jude Medical Chairman, President and Chief Executive Officer Daniel J. Starks said, “In addition to delivering on our goal to accelerate sales growth throughout the year, we achieved significant EPS leverage with adjusted net earnings per share growing 12 percent on a constant currency basis. In 2014, we will continue to focus on addressing the challenges of today’s health care environment by delivering innovative solutions that improve patient outcomes while reducing the economic and clinical burdens of some of the world’s most expensive, epidemic diseases.”

1 of 6

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs