January 23, 2013 at 16:13 PM EST
St. Jude Beats Profit Forecast By Slashing Costs
St. Jude Medical (STJ), the maker of cardioverter defibrillators and pacemakers, said Q4 earnings climbed 7% to 92 cents, beating analyst estimates by 2 cents as it cut back expenses. Sales dipped 2% to $1.37 billion, in line with expectations. Its shares were little changed in late-day trading Wednesday. St. Jude Medical boosted its profit margin by reducing general and administrative expenses 18%. It also trimmed research and development
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