St Jude Medical reports strong sales for Q4 2013

St Jude Medical has announced its preliminary revenue results for the fourth quarter of 2013, during which it was able to maintain its recent growth trends.

The company's net sales for the period came to approximately $1.42 billion (869.12 million pounds), a four percent year-on-year increase, thanks to improved performance across its cardiac rhythm management, atrial fibrillation and neuromodulation businesses.

Over the course of last year, St Jude Medical saw its sales rise steadily from a decline in the first quarter of 2013 to growth at a mid-single digit rate by the final quarter.

Its management has attributed this to the launch of several new products across all of the organisation's businesses, as well as improvements in overall market dynamics.

Daniel Starks, chairman, president and chief executive officer, said: "At the start of 2013, we talked about our plan to accelerate sales throughout the year. St Jude Medical delivered on that plan each quarter of 2013."

This comes after the company's board of directors authorised a new $700 million share repurchase programme last month, reflecting the growing confidence within the organisation.