St. Jude Medical said Monday that fourth-quarter sales rose about 4 percent to $1.4 billion.
Its preliminary numbers showed overall revenue up despite decreases in pacemakers and implantable cardiac defibrillators. The company announced double-digit percentage gains in atrial fibrillation product sales and total cardiovascular sales for the fourth quarter.
Structural heart product sales for the fourth quarter jumped 35 percent. Fourth quarter sales of neuromodulation products were up 12 percent compared with the fourth quarter of 2010.
"Med-tech fundamentals weakened during the second half of 2011. We therefore are especially pleased with our sales results, with two of four divisions exceeding our fourth quarter guidance," chief executive Daniel Starks said in a statement.
The results appear to be in line with what several analysts had expected. St. Jude shares rose $1.09 Monday to $35.70.
St. Jude, based in Little Canada, develops, manufactures and distributes cardiovascular medical devices for cardiac rhythm management, cardiology, cardiac surgery, atrial fibrillation therapy, as well as neurostimulation devices. St. Jude will release its fourth-quarter and full-year results and provide 2012 guidance on Jan. 25.
James Walsh • 612-673-7428
