Medical device maker
swung to a profit in the third quarter and reported sales that were in line with analysts' estimates despite stent revenue edging lower.
Sales were $2.03 billion in the quarter, compared with $1.51 billion a year ago and the $2.02 billion analysts were expecting.
All told, the company earned $76 million, or 5 cents a share, including a $77 million charge related to the acquisition of defibrillator maker Guidant. Last year, Boston Scientific lost $269 million, or 33 cents a share.
Excluding certain charges, the company earned $291 million, or 20 cents a share, in the most recent quarter. The 2005 third quarter included a charge of $616 million, or roughly 75 cents a share, from a settlement agreement with Medinol.
Sales of Boston Scientific's Taxus stent were $572 million for the quarter, down from $601 million a year ago. In the U.S., Taxus sales were $384 million, compared with $404 million last year.
In its cardiac rhythm management segment, sales reached $446 million worldwide, including $315 million in sales of its implantable cardioverter defibrillators and $131 million in pacemaker sales.
"Despite the challenges in
the third quarter, we were able to achieve results near the high end of our previously announced preliminary sales and earnings ranges," said Jim Tobin, president and CEO of Boston Scientific.
Shares rose 1.5% to $15.37 in after-hours trading Thursday.