(Reuters) - St Jude Medical Inc posted better-than-expected quarterly earnings on Wednesday, but demand for its heart rhythm devices remained sluggish.
First-quarter net earnings were $212 million, or 67 cents per share, down from $233 million, or 71 cents per share, in the year-ago period.
Excluding one-time items, earnings were 86 cents per share, 3 cents above the average Wall Street forecast, according to Thomson Reuters I/B/E/S.
Sales rose to $1.395 billion from $1.376 billion a year before, but sales of implantable heart defibrillators slipped.
Sales of cardiac rhythm management products, including heart pacemakers and implantable heart defibrillators, or ICDs, were $735 million, down 4 percent. Sales of ICDs and ancillary products totaled $450 million, down 3 percent