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Boston Scientific Announces Results for Fourth Quarter and Year Ended December 31, 2007
Date:2/4/2008

s

represent significant one-time charges during the fourth quarter of

2007 and do not reflect expected on-going operating expenses.

Accordingly, management excluded these charges for purposes of

calculating these non-GAAP measures to facilitate an evaluation of the

Company's current operating performance and for comparison to the

Company's past operating performance.

-- Amortization expense -- Amortization expense is a non-cash charge and

does not impact the Company's liquidity or compliance with the

covenants included in its debt agreements. Following the Company's

acquisition of Guidant, and the related increase in the Company's debt,

management has heightened its focus on cash generation and debt pay

down. Management removes the impact of amortization from the Company's

operating performance to assist in assessing the Company's cash

generated from operations. Management believes this is a critical

metric for the Company in measuring the Company's ability to generate

cash and pay down debt. Therefore, amortization expense is excluded

from management's assessment of operating performance and is also

excluded from the measures management uses to set employee

compensation. Accordingly, management believes this may be useful

information to users of its financial statements and therefore has

excluded these charges for purposes of calculating these non-GAAP

measures to facilitate an evaluation of the Company's current operating

performance, particularly in terms of liquidity.

-- Foreign exchange on net sales -- The impact of foreign exchange is

highly variable and difficult to predict. Accordingly, management

excludes the impact of foreign exchange for purposes of reviewing

regional and divisional revenue growth rates to facilitate an<
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SOURCE Boston Scientific Corporation
Copyright©2008 PR Newswire.
All rights reserved

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