- 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.

Copyright © 2018 The Washington Times, LLC. Click here for reprint permission.

The Washington Times Comment Policy

The Washington Times is switching its third-party commenting system from Disqus to Spot.IM. You will need to either create an account with Spot.im or if you wish to use your Disqus account look under the Conversation for the link "Have a Disqus Account?". Please read our Comment Policy before commenting.


Click to Read More and View Comments

Click to Hide