ST. PAUL, Minn. (AP) -- St. Jude Medical Inc. said Monday its fourth-quarter profit and revenue will meet its previous estimates, as its acquisition of AGA Medical bolstered sales of structural heart devices.
The company said its profit will be between 83 and 85 cents per share excluding one-time charges, and revenue will rise about 4 percent to $1.4 billion. Analysts expect St. Jude to report a profit of 84 cents per share and $1.4 billion in revenue, according to FactSet.
The company's profit estimate excludes restructuring and other charges, which will total 30 to 35 cents per share. In November St. Jude forecast a profit of 83 to 85 cents per share and said its revenue would be between $1.34 billion to $1.42 billion. St. Jude will report full results for the quarter and 2012 guidance on Jan. 25.
Shares of St. Jude rose $1.22, or 3.5 percent, to $35.83 in morning trading while the broader markets were flat. Over the past 52 weeks, the stock has traded between $32.13 and $54.18.
St. Jude said revenue from cardiac rhythm management devices fell 4 percent to $728 million as sales of pacemakers and implantable defibrillators both decreased. Pacemaker sales decreased 4 percent to $292 million while sales of implantable cardioverter defibrillators slipped 5 percent to $436 million.
Meanwhile, sales of devices that treat atrial fibrillation — a condition in which the heart's chambers pump out of sync — rose 13 percent to $218 million.
The company said sales of cardiovascular devices grew 18 percent to $340 million. Structural heart products grew 35 percent to $150 million, and vascular product sales up 8 percent to $190 million. St. Jude expanded its line of structural heart devices when it bought AGA Medical in November 2010.
The company said sales of neuromodulation pain devices increased 12 percent to $121 million.
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