-- $143 million of amortization expense (pre-tax), $109 million
Adjusted net income for the quarter, excluding these amounts, was $357 million, or $0.24 per share. Included in reported and adjusted net income was $43 million, or $0.03 per share, of favorable discrete income tax items, and $8 million of income, or $0.01 per share, associated with divested businesses.
Reported net income for the first quarter of 2007 was $120 million, or $0.08 per share. Reported results for the first quarter of 2007 included charges associated with the Company's 2006 acquisition of Guidant Corporation and amortization expense (pre-tax) of $180 million, or approximately $0.09 per share. Adjusted net income for the first quarter of 2007, excluding these charges and amortization expense, was $262 million, or $0.17 per share.
Guidance for Second Quarter 2008
The Company estimates net sales for the second quarter of 2008 of between $1.950 billion and $2.075 billion. Adjusted net income, excluding acquisition, divestiture, litigation and restructuring-related charges, and amortization expense, is estimated to range between $0.14 and $0.19 per share. The Company estimates reported net income on a GAAP basis of between $0.04 and $0.09 per share.
Boston Scientific management will be discussing these results with analysts on a conference call at 8:30 a.m. (ET) Tuesday, April 22, 2008. The Company will webcast the call to all interested parties through its website: http://www.bostonscientific.com. Please see the website for details on how to access the webcast. The webcast will be available for one year on the Boston Scientific website.
Boston Scientific is a worldwide developer, manufacturer and marketer
of medical devices whose products are used in a broad range of
interventional medical specialties. For more inform
|SOURCE Boston Scientific Corporation|
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