UPDATE 1-Boston Scientific posts net loss on charges

Mon Apr 20, 2009 11:37pm BST
 
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* Q1 adj profit of 19cts/share, in line with analysts

* Worldwide stent sales rise to $445 mln from $428 mln

* Reaffirms 2009 sales forecast of $8.0 bln to 8.5 bln

CHICAGO, April 20 (Reuters) - Medical device maker Boston Scientific Corp (BSX.N) posted a quarterly net loss on Monday as results were hurt by charges mostly related to a court ruling in a stent patent lawsuit.

The first-quarter net loss was $13 million, or 1 cent a share, compared with a profit of $322 million, or 21 cents a share, a year ago.

Excluding special items, the Natick, Mass.-based company said its adjusted profit was $289 million, or 19 cents a share. That was in line with the average analyst estimate according to Reuters Estimates.

Sales for the quarter fell to $2.01 billion from $2.05 billion a year ago.

Worldwide sales of Boston Scientific's closely watched drug-coated stents rose to $445 million for the quarter from $428 million a year ago.

For 2009, Boston Scientific expects net income of between 46 cents and 57 cents per share, as a result of the first- quarter litigation-related charges and other items. It reaffirmed its net sales estimate for the full year of between $8.0 billion and $8.5 billion. (Reporting by Susan Kelly; Editing by Andre Grenon)

 

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