For the quarter that ended on Oct. 3, St. Jude Medical reported an expected profit of $1.16 billion, an increase of 7 percent compared with the third quarter of 2008. Foreign currency translation comparisons decreased third quarter sales by approximately $29 million, according to the release.
One factor affecting sales was a slowdown in hospitals stocking certain medical devices. Dan Starks, chairman, president and CEO for St. Jude Medical, said in the release that macro economic factors and pressures surrounding healthcare reform accounted for these changes in hospitals’ purchasing behaviors.
St. Jude Medical will provide full third quarter results on Oct. 21.
Read the release about St. Jude Medical’s third quarter results.
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