St. Jude Medical Sales Jump

St. Jude Medical ( STJ ) Wednesday delivered record first-quarter revenue driven by strong sales growth in several product groups, and offered strong second-quarter earnings guidance.

The Minnesota-based company had net income of $95.7 million, or 52 cents a share, vs. $80 million, or 43 cents a share, a year ago, The consensus estimate was for 50 cents a share, according to Thomson First Call.

Revenue jumped 24% in the period to $548.6 million, led by sales of its implantable cardioverter defibrillators, pacemakers and vascular closure devices.

The company expects EPS of 52 cents to 54 cents a share in the second quarter and $2.18 to $2.23 for full-year 2004. The consensus forecast is for 50 cents a share and $2.20 a share, respectively.

Shares were recently up $1.74, or 2.3%, to $76.78.

More from Opinion

Apple Needs to Figure Out Its Self-Driving Vehicle Strategy

Apple Needs to Figure Out Its Self-Driving Vehicle Strategy

Throwback Thursday: Tesla, Chip Stocks, TheStreet's Picks

Throwback Thursday: Tesla, Chip Stocks, TheStreet's Picks

12 Stocks That Our Writers and Their Sources Recommend You Buy Here

12 Stocks That Our Writers and Their Sources Recommend You Buy Here

Musk Goes on Unoriginal Media Tirade

Musk Goes on Unoriginal Media Tirade

What's Happening in Video Games This Week: On the Road to E3

What's Happening in Video Games This Week: On the Road to E3