Defibrillators

Paul, Minnesota medical device maker, the second largest manufacturer of ICDs after Medtronic Inc.

(MDT.N: Quote, Profile , Research), said first-quarter profit rose to $145.7 million, or 41 cents per share, from $137.1 million, or 36 cents per share, a year earlier.

The analysts' average earnings forecast was 40 cents per share, according to Reuters Estimates.

Reuters Pictures Editors Choice: Best picturesfrom the last 24 hours.View Slideshow Net sales rose 13 percent to $887 million in the quarter from $784 million a year earlier, helped by favorable foreign currency translations.

Sales of ICDs, implantable devices that monitor and correct dangerously rapid heartbeats, rose 15 percent to $302 million.

Sales of the devices have slowed industrywide in recent quarters following high-profile product recalls and deaths linked to them.

St.

Jude and Medtronic also compete with Boston Scientific (BSX.N: Quote, Profile , Research) in the market for products that manage errant heartbeats.

St.

Jude also raised its forecast for the second quarter and full year, calling for earnings per share between 42 cents and 44 cents, and $1.72 to $1.77, respectively.

Shares of St.

Jude closed on Wednesday at $41.13 on the New York Stock Exchange.

© Reuters 2007.

All Rights Reserved.

Next Article: UPDATE 1-Noble Corp.

1st-qtr earnings rise Industry View How does St.

Jude Medical, Inc.

compare to its industry peers?

P/E (12 mo.

trailing) Lower...

Read more...