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Thursday, Apr 25, 2024

St. Jude Shares Drop in the Fourth-Quarter

After reports of a 96 percent drop in the fourth-quarter profit, shares of St. Jude Medical Inc., a heart device maker, dropped $3.27, 6.1 percent. The shares closed at $50.03 on the New York Stock Exchange. Sales of a key line of implantable devices, implantable defibrillators (ICDs), were below expected results also contributed to the fourth-quarter results. St. Jude’s net earnings for the fourth-quarter of 2005 were $5 million, or $0.01 per share, compared to $125 million, or $0.33 per share in the fourth-quarter of 2004. Net earnings for 2005 were $393 million, or $1.04 per share down from the 2004 net earnings of $410 million, or $1.10 per share. Revenue in 2005 was $2.92 billion from $2.29 billion in 2004, an increase of 27 percent. St. Jude has a facility in Sylmar which employs 1,600 people. St. Jude has 10,000 employees company-wide. The company is headquartered in St. Paul, Minnesota.

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