Guidant notches record Q1

Interventional firm Guidant reported record 2004 fiscal first-quarter revenues of $934 million, up 9% compared with the $858 million in sales posted in the same period in 2003.

For the quarter (end-March 31), the Indianapolis-based firm had net income of $139.4 million, compared with net income of $93.4 million in the first quarter of 2003.

The firm said foreign currency translations favorably impacted revenue by $33 million. In addition, the company discontinued its radiation therapy business and its first-quarter revenues excluded the charges reflected in the discontinued operations, Guidant said.

Guidant also announced a sales guidance for its fiscal second quarter of $910 million - $950 million. The firm reiterated its full-year 2004 sales and earnings guidance at $3.75 billion - $3.95 billion.

By AuntMinnie.com staff writers
April 22, 2004

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