St. Jude Medical (STJ)

Fourth Quarter and Full-Year Sales

The Company reported net sales of $1.133 billion in the fourth quarter of 2008, an increase of 11 percent compared to the $1.018 billion in the fourth quarter of 2007. Foreign currency translation comparisons decreased fourth quarter sales by approximately $29 million.

Net sales in 2008 were $4.363 billion compared to $3.779 billion in 2007, an increase of 15 percent. Foreign currency translation comparisons increased full-year 2008 sales by about $120 million.

Commenting on the fourth quarter and full-year results and the Company’s growth program, St. Jude Medical Chairman, President and Chief Executive Officer Daniel J. Starks said, “We are pleased to have achieved strong growth across all of our product platforms in 2008, including a 14 percent revenue increase in Cardiac Rhythm Management. The solid outperformance in our Atrial Fibrillation and Neuromodulation businesses in the fourth quarter in particular underscore the long-term growth opportunities and acceleration of these programs. St. Jude Medical’s growth, together with actions we have taken to advance our product platforms through acquisitions, gives us confidence in our ability to achieve continued success.”

Fourth Quarter and Full-Year Sales

The Company reported net sales of $1.018 billion in the fourth quarter of 2007, representing the Company’s first ever $1 billion quarter, $41 million above the high end of the Company’s guidance and an increase of 18% compared to the $864 million reported in the fourth quarter of 2006. Favorable foreign currency translation comparisons increased fourth quarter sales by approximately $41 million. In each product category, sales for the fourth quarter exceeded the high end of the Company’s fourth quarter revenue guidance.

Net sales in 2007 were $3.779 billion compared to $3.302 billion in 2006, an increase of 14%. Favorable foreign currency translation comparisons increased full-year 2007 sales by about $100 million.

Commenting on the fourth quarter results and the strength of the business during 2007, St. Jude Medical Chairman, President and Chief Executive Officer Daniel J. Starks said, “During the fourth quarter and throughout 2007, every major segment of St. Jude Medical’s business contributed to our growth, market share gains, or both. The breadth and depth of our growth across all of our major product platforms in 2007 reinforces our confidence that we are investing in the right markets and that our long term growth program is on track.”