Originally published at www.seclive.com
St. Jude Medical Inc. (NYSE:STJ) announced its financial results for the 2013 fiscal year, reporting positive growth in both profits and revenue. Sales for the quarter were up 1% from $1.326B to $1.338B. Excluding one-time items, earnings improved 8% to $262M and $0.90 per share. St. Jude's guidance for the full-year is revenues between $5.394B and $5.474B with adjusted earnings per share between $3.72 and $3.74, an increase of $0.02 on the lower end and an increase of $0.01 on the higher end. Cardiac rhythm management and cardiovascular products, which represents the company's two largest product lines, saw marginal increases in sales. Daniel Starks, St. Jude's President and CEO remarked that the quarter's results show the company is implementing its sales growth programs.
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