Stents Drive Boston Scientific Earnings

Updated from 3:08 p.m. EST

Boston Scientific(BSX Quote) on Tuesday reported fourth-quarter sales and earnings that narrowly beat Wall Street estimates, thanks to the strong growth of the company's drug-coated arterial stents, and also offered in-line 2005 guidance.

The Natick, Mass.-based medical device company earned $419 million, or 49 cents a share, on revenue of $1.6 billion, excluding special charges, for the three months ended Dec. 31. The consensus of analysts polled by Thomson First Call predicted a profit of $416.8 million, or 48 cents, on revenue of $1.56 billion.

The quarterly net income represented a 197% increase over the $141 million in net income, or 17 cents a share, for the same period in 2003, excluding special items. Quarterly sales were 70% higher than the $939 million during the same period in 2003. ...