Updated from 12:29 p.m. EDT
Medical devices maker
said second-quarter earnings rose from a year ago and total sales were up 11%.
Net income, excluding charges, was $404 million, or 48 cents a share. Reported net income for the quarter, including charges of $199 million, was $205 million, or 24 cents a share, at the high end of the company's guidance. The charges consisted mainly of costs related to the acquisitions of TriVascular, CryoVascular Systems and Rubicon Medical.
For the quarter ended June 30, net sales reached $1.62 billion, compared with $1.46 billion a year ago, while worldwide coronary stent sales totaled $700 million, an increase of 7%. To further ramp up sales of its heart devices, the company has expanded its sales force.
Analysts surveyed by Thomson First Call were expecting earnings of 48 cents a share and sales of $1.6 billion for the quarter.
This week's earnings calendar includes a number of big participants in the medical devices field.
Johnson & Johnson
posted its quarterly results Tuesday, while
is scheduled to report Wednesday and
In its conference call Tuesday, Boston Scientific reported double-digit growth in its endosurgery, endoscopy, urology and oncology segments.
"Our Taxus paclitaxel-eluting stent system continues to be the product of choice in the drug-eluting stent market, and it maintained its leadership position during the quarter," said Boston Scientific president and CEO Jim Tobin.
Boston Scientific affirmed its guidance for the full year, saying it's on track to earn $2 a share on revenue of $6.5 billion. The company expects drug-eluting stent sales to exceed $2.8 billion.
Shares of Boston Scientific were gaining 98 cents, or 3.6%, to $28.15.