- The Washington Times - Monday, April 20, 2009

NATICK, MASS. (AP) - Medical device maker Boston Scientific says it lost money in the first quarter due to charges but adjusted results topped Wall Street expectations, sending shares higher in after-hours trading.

The maker of stents, pacemakers and other devices has reported a loss of $13 million, or 1 cent per share. That compares with net income of $322 million, or 21 cents per share, for the first quarter of 2008.

But excluding one-time charges for patent lawsuits and job cuts, the company’s earnings totaled 19 cents per share.

Sales fell slightly to $2.01 billion.

Analysts were expecting earnings of 12 cents per share on revenue of $2.02 billion. Those estimates typically exclude one-time items.

Natick, Mass.-based Boston Scientific Corp. backed its previous full-year outlook.

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