St. Jude Medical Inc. (STJ) reported that its third-quarter net earnings were $166.94 million or $0.48 per share, compared to $184.70 million or $0.53 per share in the same quarter last year.
In the third quarter, the Company recorded pre-tax charges of $57 million, or $0.11 per diluted share, comprised primarily of employee termination costs related to continuing efforts to improve sales and sales support productivity as well as to streamline manufacturing operations.
Excluding these charges, adjusted net earnings for the third quarter were $204 million or $0.59 per share, compared to $189.60 million or $0.54 per share in the year-ago quarter. Analysts polled by Thomson Reuters expected the company to report earnings of $0.58 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter were $1.160 billion, an increase of 7% from $1.084 billion in the third quarter of 2008. Twenty Seven analysts had consensus revenue estimate of $1.16 billion for the quarter.
The company expects its earnings for the fourth quarter of 2009 to be in the range of $0.61 to $0.63 per share. Analysts expect the company to report earnings of $0.66 per share for the fourth-quarter.
The company lowered its full-year 2009 earnings guidance to a range of $2.41 - $2.43 per share, from the prior range of $2.48 - $2.54 per share. Analysts expect the company to report earnings of $2.44 per share for the full-year 2009.
The company said that this full-year guidance does not include the impact on earnings per share of the charges recorded in the third quarter of 2009.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.