St. Jude Medical today reported sales and net earnings for the fourth quarter and year ended December 29, 2012. According to the announcement:
“Total CRM sales, which include implantable cardioverter defibrillator (ICD) and pacemaker products, were $682 million for the fourth quarter of 2012, a 6 percent decrease compared to the fourth quarter of 2011. After adjusting for the impact of foreign currency, total CRM sales decreased 5 percent. Total CRM product sales for the full-year 2012 were $2.854 billion, down approximately 6 percent from 2011. On a currency neutral basis, total CRM sales declined 3.5 percent from the prior year.
Of that total, ICD product sales were $422 million in the fourth quarter, a 3 percent decrease compared to the fourth quarter of 2011. ICD revenue decreased 2 percent after adjusting for the impact of foreign currency. ICD product sales for the full-year 2012 were $1.743 billion, a decrease of 4 percent when compared to 2011. On a constant currency basis, total ICD sales declined 2 percent from the prior year.
Fourth quarter pacemaker sales were $260 million, an 11 percent decrease compared to the fourth quarter of 2011. Total pacemaker sales for 2012 were $1.111 billion, down 8 percent compared to pacemaker sales in 2011. On a constant currency basis, total pacemaker sales declined 6 percent from the prior year.”
“St. Jude Medical sales of neuromodulation products were $113 million in the fourth quarter of 2012, down 7 percent from the prior year. Total neuromodulation product sales for 2012 were $423 million, up 1 percent over the prior year including a $7 million decrease due to unfavorable currency translations.”