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Third Quarter 2004 Earnings In Brief

This article was originally published in The Gray Sheet

Executive Summary

Epic growth proportions?: St. Jude Medical expects ICD sales of $570 mil.-$580 mil. in 2004. Reporting on the first full quarter with Epic HF and Atlas + HF CRT defibrillators on the market, the firm notes total ICD sales of $157 mil. in Q3, a 57% climb over the 2003 period. During the quarter, St. Jude extended its atrial fibrillation therapy portfolio, acquiring Irvine Medical and entering a purchase deal with Endocardial Solutions (1"The Gray Sheet" Sept. 27, 2004, p. 9). Earnings rose from $84 mil. in Q3 2003 to $91 mil. in Q3 2004, based on $578 mil. in sales, which represented 22% growth over last year. St. Jude took a special charge of $35 mil. for discontinuing Symmetry bypass aortic connectors...

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