St. Jude Q1 earnings propelled by strong cardiovascular sales

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St. Jude Medical has reported a 16 percent uptick in net earnings, to $201 million from $177 million, for its fiscal 2009 first quarter, which ended April 4.

The St. Paul, Minn.-based company reported net sales of $1.13 billion in the first quarter of 2009, an increase of 12 percent compared with $1 billion in the first quarter of 2008. It noted that revenue for the first quarter increased 17 percent after adjusting for the impact of foreign currency.

Total cardiovascular sales, which primarily include vascular closure and heart valve products, were $240 million for the first quarter of 2009, a 15 percent increase over the first quarter of 2008, according to St. Jude.

This category also included sales of products that St. Jude acquired from Radi Medical Systems in December 2008. Specifically, sales of vascular closure products in the first quarter of 2009 were $98 million, a 9 percent increase over the first quarter of 2008; and heart valve product sales for the first quarter of 2009 were $81 million, a 4 percent increase over the first quarter of 2008.

St. Jude said that its total cardiac rhythm management sales, which include implantable cardioverter defibrillator and pacemaker products, were $676 million for the first quarter of 2009, a 7 percent increase compared with the first quarter of 2008. Atrial fibrillation product sales for the first quarter totaled $145 million, a 22 percent increase over the first quarter of 2008, the company said.