Boston Scientific profit up, outlook cut
Boston Scientific Corp
The company's shares fell 5.7 percent to $9.56 in post-market trade from a close of $10.16 on Monday on the New York Stock Exchange.
Third-quarter net income was $200 million, or 13 cents per share, compared with a net loss of $62 million, or 4 cents per share, a year ago.
Excluding restructuring and other special charges, the Natick, Massachusetts-based company said it earned $291 million, or 19 cents a share, in the latest quarter.
Third-quarter sales rose 3 percent to $2.025 billion.
Boston Scientific lowered its full-year earnings outlook, adjusted for special items, to a range of 75 cents to 79 cents a share. In July, it had forecast adjusted earnings of between 82 cents and 86 cents a share.
It also lowered its full-year net earnings outlook to a range of 43 cents to 48 cents a share, from a range in July of between 47 cents and 53 cents a share.
The company said sales for the full year were now expected to be in a range of $8.134 billion to $8.234 billion, at the lower end of its previously forecast range.
(Reporting by Susan Kelly; Editing by Phil Berlowitz)
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