St. Jude posts Q3 losses
Editorial Staff | October 30, 2012 | Cardiovascular Business | Heart Rhythm

St. Jude Medical has reported a decrease in sales and net earnings for the 2012 fiscal third quarter, which ended Sept. 29.

The St. Paul, Minn.-based company reported net sales of $1.33 billion in the third quarter of 2012, a decrease of 4 percent compared with $1.38 billion in the third quarter of 2011. Foreign currency translation comparisons decreased third quarter sales by approximately $60 million.

The reported net earnings for the third quarter of 2012 were $176 million, compared with reported net earnings for the third quarter of 2011 of $227 million.

The total cardiac rhythm management (CRM) sales, which include implantable cardioverter-defibrillator (ICD) and pacemaker products, were $691 million for the third quarter of 2012, an 8 percent decrease compared with the third quarter of 2011. Of that total, ICD product sales were $412 million in the third quarter, a 7 percent decrease compared with the third quarter of 2011. Third quarter pacemaker sales were $279 million, a 9 percent decrease compared with the third quarter of 2011.   

Atrial fibrillation product sales for the third quarter totaled $220 million, a 9 percent increase over the third quarter of 2011.

Total cardiovascular sales, which primarily include vascular and structural heart products, were $314 million for the third quarter of 2012, a 4 percent decrease from the third quarter of 2011. Structural heart product sales for the third quarter of 2012 were $145 million, a 4 percent decrease from the third quarter of 2011. Sales of vascular products during the third quarter of 2012 were $169 million, down 5 percent from the comparable quarter of 2011.

St. Jude said its sales of neuromodulation products were $101 million in the third quarter of 2012, down 1 percent from the comparable quarter of 2011. 

In the 2012 third quarter, the company recorded after-tax charges of $80 million, primarily related to organizational realignment actions announced this quarter as well as previously announced actions initiated during the second quarter of 2011 to realign certain activities within its CRM business.

Editorial Staff

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