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Boston Scientific Posts Net Income Of $158 Million In Q2 2009

Boston Scientific Corporation has reported net sales of $2.074 billion for the second quarter of 2009, compared with the net sales of $2.024 billion in the year-ago quarter. It also posted a net income of $158 million, or $0.10 per share, for the second quarter of 2009, compared with the net income of $98 million, or $0.07 per share, in the year-ago quarter.

Guidance for Third Quarter and Full Year 2009

The company estimates net sales for the third quarter of 2009 of between $2 billion and $2.1 billion. Adjusted earnings, excluding intangible asset impairment charges; acquisition-, divestiture-, litigation- and restructuring-related charges; and amortization expense, are estimated to range between $0.17 and $0.21 per share. The company estimates net income on a GAAP basis of between $0.08 and $0.13 per share.

The company has updated its net sales estimate for the full year of 2009 to between $8.1 billion and $8.4 billion. The company expects adjusted earnings, excluding intangible asset impairment charges; acquisition-, divestiture-, litigation- and restructuring-related charges; discrete tax items, and amortization expense, for the full year of between $0.82 and $0.86 per share.

The company expects net income on a GAAP basis of between $0.47 and $0.53 per share.