Boston Scientific sees 1Q loss
Natick, Mass. — (AP) - Medical device maker Boston Scientific says it lost money in the first quarter due to charges, but adjusted results topped Wall Street expectations, sending shares higher in after-hours trading.
The maker of stents, pacemakers and other devices has reported a loss of $13 million, or 1 cent per share. That compares with net income of $322 million, or 21 cents per share, for the first quarter of 2008.
But excluding one-time charges for patent lawsuits and job cuts, the company's earnings totaled 19 cents per share.
Sales fell slightly to $2.01 billion.
Analysts were expecting earnings of 12 cents per share on revenue of $2.02 billion. Those estimates typically exclude one-time items.
Boston Scientific, based in Natick, Mass., employs 6,200 people in Minnesota at production facilities in Maple Grove, Arden Hills and Plymouth.
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