affirmed earnings and revenue estimates Tuesday ahead of a midquarter conference call with analysts.
Before charges, Indianapolis-based Guidant said it expects to earn 52 cents to 57 cents a share on sales of $910 million to $950 million in the third quarter, and $2.27 to $2.37 a share on sales of $3.65 billion to $3.80 billion in the full year.
Analysts surveyed by Thomson First Call were expecting earnings of 55 cents a share on sales of $924 million in the third quarter, and earnings of $2.33 a share on sales of $3.68 billion in the full year.
Using standard accounting and including the charges, Guidant expects to earn $1.30 to $1.40 a share in the full year.
Guidant also said it plans to buy back $250 million worth of stock to offset dilution caused by stock and option grants, and said it plans a regulatory submission this week in Europe regarding its drug-eluting stent program.