St. Jude Medical Post Higher Quarterly Profit

Health CareReuters

Medical device maker St. Jude Medical Inc said on Wednesday its quarterly earnings rose as expenses fell.

First-quarter net earnings were $222 million, or 78 cents per diluted share, compared with $212 million, or 67 cents per diluted share, in the year ago period.

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Adjusted earnings were 92 cents per share. On that basis, analysts, on average, expected earnings of 91 cents per share, according to Thomson Reuters I/B/E/S.

Quarterly sales fell to $1.34 million from $1.40 million a year ago.

Looking ahead, it expects second-quarter earnings per share to be between 93 cents and 95 cents, and 2013 EPS to be between $3.68 to $3.73.