Boston Scientific posts strong Q3

Interventional device developer Boston Scientific of Natick, MA, has released financial results for its 2004 fiscal third quarter (end-September 30).

For the period, the firm had net sales of $1.482 billion, up 69% compared with $876 million reported for the third quarter of 2003. Excluding the favorable impact of $32 million in foreign currency fluctuations, net sales were $1.45 billion, an increase of 66%, according to the firm.

Reported net income for the quarter, including net special charges of $146 million (after tax), rose to $258 million, compared with reported net income of $124 million for the same period last year. The net special charges include a $71 million addition to the firm's 401(k) retirement plan and a $75 million provision for legal and regulatory exposures, the company said.

By AuntMinnie.com staff writers
October 19, 2004

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