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As of 8:04 PM 01/30/15 All times are local (Market data is delayed by at least 15 minutes).

st jude medical inc (STJ) Key Developments

St. Jude Medical Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended January 3, 2015; Provides Earnings Guidance for the First Quarter and Full Year of 2015

St. Jude Medical Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended January 3, 2015. For the quarter, the company reported net sales of $1,439 million compared to $1,422 million a year ago. Operating profit was $280 million compared to $148 million a year ago. Earnings before noncontrolling interest and income taxes were $258 million compared to $129 million a year ago. Net earnings attributable to the company were $245 million or $0.84 per diluted share compared to $123 million or $0.42 per diluted share a year ago. Adjusted diluted net earnings per share attributable to the company were $1.03 compared to $0.99 a year ago. On non-GAAP basis, earnings before noncontrolling interest and income taxes were $355 million compared to $354 million a year ago. Net earnings attributable to the company were $298 million or $1.03 per diluted share compared to $294 million or $0.99 per diluted share a year ago. For the year, the company reported net sales of $5,622 million compared to $5,501 million a year ago. Operating profit was $1,151 million compared to $1,051 million a year ago. Earnings before noncontrolling interest and income taxes were $1,068 million compared to $784 million a year ago. Net earnings attributable to the company were $1,002 million or $3.46 per diluted share compared to $723 million or $2.49 per diluted share a year ago. Adjusted diluted net earnings per share attributable to the company were $3.98 compared to $3.76 a year ago. On non-GAAP basis, earnings before noncontrolling interest and income taxes were $1,367 million compared to $1,345 million a year ago. Net earnings attributable to the company were $1,152 million or $3.98 per diluted share compared to $1,094 million or $3.76 per diluted share a year ago. For the first quarter of 2015, the company expects revenue to grow in the range of 2% to 4% on a constant currency basis with currency negatively impacting first quarter revenue by approximately $85 million to $100 million. The company expects diluted net earnings per share attributable to the company in the range from $0.77 to $0.79, amortization of intangible assets to be $0.06, federal R&D tax credit 2015 extension to be $0.02, adjusted diluted net earnings per share attributable to the company in the range from $0.90 to $0.92. The company expects sales to be in the range from $1,305 million to $1,320 million. For the full-year 2015, The company expects total revenue to grow in the range of 3% to 5% on a constant currency basis with currency negatively impacting full-year 2015 revenue by approximately $325 million to $350 million. The company expects diluted net earnings per share attributable to the company in the range from $3.50 to $3.55, amortization of intangible assets to be $0.22, federal R&D tax credit 2015 extension to be $0.06, adjusted diluted net earnings per share attributable to the company in the range from $3.95 to $4.00. The company expects sales to be in the range from $5,450 million to $5,550 million. For 2015, the company expects the effective tax rate to be in the range of 17.5% to 18.5%, which now excludes the impact of amortization expense.

St. Jude Medical Inc. Announces FDA Approval of FlexAbility Ablation Catheter

St. Jude Medical Inc. announced U.S. Food and Drug Administration (FDA) approval of the FlexAbility Ablation Catheter, a new ablation technology used by electrophysiologists for the treatment of cardiac arrhythmias. Designed with feedback from leaders in the electrophysiology community, the FlexAbility catheter combines a bendable irrigated catheter tip with an advanced handle and next generation shaft design. The unique flexible tip was developed to conform better to the cardiac anatomy, allowing for effective lesion formation. This added flexibility, in addition to the catheter’s ability to maneuver easily and reliably in challenging cases, was designed to enhance the quality of care for patients around the world who require ablation procedures. Image of the flexible tip of the FlexAbility ablation catheter. The tip was developed to conform better to cardiac anatomy, allowing for effective lesion formation. Ablation catheters, such as the pioneering FlexAbility catheter, are thin, flexible wires used to help treat irregular heartbeats that impair the heart’s ability to effectively pump blood throughout the body. In the U.S., an estimated 10.4 million people have some type of cardiac arrhythmia. The FlexAbility catheter features an innovative handle and shaft combination that allows for improved maneuverability, enabling electrophysiologists to reach challenging anatomic locations within their patientsâ hearts. This new technology was also designed to provide optimal irrigation flow over the entire tip for improved cooling, potentially reducing risk factors associated with the delivery of therapy. The FDA approval of the FlexAbility catheter, which received CE Mark in Europe last year, further strengthens St. Jude Medicalâ s fast-growing ablation technology portfolio and expands the ability of physicians to treat patients battling abnormal heart rhythms.

St. Jude Medical Inc. Reaffirms Earnings Guidance for the Fourth Quarter Ended January 3, 2015

St. Jude Medical inc. reaffirmed earnings guidance for the fourth quarter ended January 3, 2015. For the quarter ended January 3, 2015, the company expects to report net sales of approximately $1.44 billion, up slightly from $1.42 a year earlier. The company's prior guidance range had been $1.39 billion to $1.47 billion. On a currency-neutral basis, its fourth quarter net sales increased by approximately 5% from the prior-year period. The company reaffirmed its forecast for fourth quarter adjusted EPS in a range of $1.02 to $1.04.

St. Jude Medical, Inc. Announces First Patient Enrollment in STAR-VT Clinical Trial

St. Jude Medical Inc. announced the first patient enrollment in the STAR-VT (Substrate Targeted Ablation using the FlexAbility Ablation Catheter System for the Reduction of Ventricular Tachycardia) clinical trial, a prospective, multi-center, randomized study evaluating the safety and efficacy of the FlexAbility ablation catheter when used in ventricular tachycardia (VT) ablation procedures. The STAR-VT trial will assess whether combining targeted ablation with either an implantable cardiac defibrillator (ICD) or cardiac resynchronization therapy defibrillator (CRT-D) can reduce the incidence and economic burden of recurring ventricular arrhythmias better than treatment with either an ICD or CRT-D and medication alone.

St. Jude Medical Inc. to Report Q4, 2014 Results on Jan 28, 2015

St. Jude Medical Inc. announced that they will report Q4, 2014 results at 7:15 AM, US Eastern Standard Time on Jan 28, 2015

 

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