Free Annual Reports
St. Jude Medical's Third Quarter Earnings Report
Tickers in this Article »
STJ
St. Jude Medical (NYSE:STJ) announced its results for the most recent quarter on October 17, 2012. St. Jude Medical develops, manufactures and distributes cardiovascular medical devices.
A business' earnings are the main determinant of its share price because earnings and the circumstances relating to them can indicate whether the business will be profitable and successful in the long run. SEE: Can Earnings Guidance Accurately Predict The Future?
The Numbers: St. Jude Medical fell short of estimates with 56 cents per share and revenues of $1.33 billion. Analysts were expecting 81 cents per share and revenues of $1.43 billion. Revenue fell 4.1% from the same period last year while EPS is down 18.8%. Revenue declined last quarter after shrinking 2.5% to $1.41 billion in the second quarter. St. Jude Medical's net income for the third quarter was $176 million. According to the reported number, this is down 22.3% from last year's figures.
Management Quote: Commenting on the third quarter, St. Jude Medical Chairman, President and Chief Executive Officer Daniel J. Starks said, "Our existing growth drivers continued to perform well this quarter and we made good progress with our emerging growth drivers that will launch in the coming year. As we move into 2013 we are focused on execution and on ensuring our organization is as efficient and streamlined as possible to achieve our goal of delivering innovative medical devices that improve patient outcomes and reduce the cost of health care."
A Look Back: Net income has dropped 12.2% year-over-year on average across the last five quarters. Performance was hurt by a 39.5% decline in the fourth quarter of the last fiscal year from the year-earlier quarter.
Looking Ahead: Expectations for the company's next-quarter results are lower than they have been. Over the past 60 days, the average estimate for fourth quarter has fallen from 92 cents per share to 89 cents. A decreasing earning estimate is a negative sign and usually leads to a drop in the stock price. The average estimate for the fiscal year is now $3.43 per share, down from $3.47 60 days ago.
A business' earnings are the main determinant of its share price because earnings and the circumstances relating to them can indicate whether the business will be profitable and successful in the long run. SEE: Can Earnings Guidance Accurately Predict The Future?
The Numbers: St. Jude Medical fell short of estimates with 56 cents per share and revenues of $1.33 billion. Analysts were expecting 81 cents per share and revenues of $1.43 billion. Revenue fell 4.1% from the same period last year while EPS is down 18.8%. Revenue declined last quarter after shrinking 2.5% to $1.41 billion in the second quarter. St. Jude Medical's net income for the third quarter was $176 million. According to the reported number, this is down 22.3% from last year's figures.
Management Quote: Commenting on the third quarter, St. Jude Medical Chairman, President and Chief Executive Officer Daniel J. Starks said, "Our existing growth drivers continued to perform well this quarter and we made good progress with our emerging growth drivers that will launch in the coming year. As we move into 2013 we are focused on execution and on ensuring our organization is as efficient and streamlined as possible to achieve our goal of delivering innovative medical devices that improve patient outcomes and reduce the cost of health care."
A Look Back: Net income has dropped 12.2% year-over-year on average across the last five quarters. Performance was hurt by a 39.5% decline in the fourth quarter of the last fiscal year from the year-earlier quarter.
Looking Ahead: Expectations for the company's next-quarter results are lower than they have been. Over the past 60 days, the average estimate for fourth quarter has fallen from 92 cents per share to 89 cents. A decreasing earning estimate is a negative sign and usually leads to a drop in the stock price. The average estimate for the fiscal year is now $3.43 per share, down from $3.47 60 days ago.
by
Investopedia Staff
Investopedia.com believes that individuals can excel at managing their financial affairs. As such, we strive to provide free educational content and tools to empower individual investors, including thousands of original and objective articles and tutorials on a wide variety of financial topics.
Free Annual Reports
