Thursday, October 18 12:47:12
Boston Scientific today reported a quarterly net loss on charges and weaker sales.
The medical device maker with a big presence in Ireland also said it expects to post a profit of 6 cents to 9 cents per share for the fourth quarter, or 15 cents to 18 cents per share excluding items, on sales of $1.740 billion to $1.815 billion.
In the third quarter, net earnings were $725 million, or 52 cents per share, compared with $142 million, or 9 cents per share, in the year-ago period.
Excluding items, the company posted a profit of 16 cents. On that basis, the average estimate on Wall Street was 11 cents.
Quarterly sales were $1.735 billion, down from $1.874 billion a year ago.
Sales of interventional cardiology products, such as heart stents, fell 20 percent in the quarter, while sales of cardiac rhythm management products, such as pacemakers and implantable defibrillators, fell 8 percent. Those are the company's two largest businesses, making up more than half of its total sales.
Sales in its smaller units, including endoscopy and urology, rose at single digit percentage rates. (C ) Reuters