St. Jude CEO Predicts Recovery Ahead Despite Slow Second Quarter Revenues

The sluggish cardiac rhythm management (CRM) sector should hit bottom by early 2013 and then begin a slow comeback, St. Jude Medical CEO Dan Starks said in a July 18 conference call to discuss the company’s second quarter 2012 earnings. The company reported overall revenues of $1.41 billion for the quarter, up just 0.7 percent from the same time period in 2011, with most divisions experiencing declines or slow growth. Cardiovascular sales were flat at $340 million, compared with a year ago, while CRM activity was down 6 percent.
Devices & Diagnostics Letter