UPDATE: St. Jude Medical Posts Drop In Q4 Profit

St. Jude Medical Inc STJ reported a drop in its fourth-quarter profit. St. Jude Medical's quarterly profit fell to $163.4 million, or $0.51 per share, from $206.4 million, or $0.62 per share, in the year-ago period. Excluding one-time items, St. Jude Medical earned $0.86 per share. Its sales climbed to $1.41 billion, from $1.35 billion. However, analysts were expecting a profit of $0.84 per share on sales of $1.40 billion. St. Jude Medical projects Q1 earnings of $0.82 to $0.84 per share, versus analysts' estimates of $0.85 per share. St. Jude Medical shares fell 2.49% to $37.60 in pre-market trading.