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Boston Scientific Announces Results for Third Quarter Ended September 30, 2008
Date:10/21/2008

ded Johnson & Johnson-related litigation charges, acquisition- and divestiture-related net credits, restructuring-related charges, intangible asset impairments and amortization expense (after-tax) of $298 million, or approximately $0.20 per share, which consisted of the following:

-- $334 million of pre-tax charges ($266 million after-tax) resulting from

a ruling by a federal judge in a patent infringement case brought

against the Company by Johnson & Johnson;

-- $250 million pre-tax gain ($184 million after-tax) related to the

receipt of an acquisition-related milestone payment from Abbott

Laboratories;

-- $8 million credit, on both a pre-tax and after-tax basis, to purchased

research and development associated with the Company's acquisition of

CryoCor, Inc.;

-- $15 million of pre-tax net gains ($9 million after-tax) in connection

with the sale of the Company's non-strategic investments;

-- $17 million of income tax benefit associated with the Company's

previous sale of non-strategic businesses;

-- $34 million of pre-tax charges ($25 million after-tax) associated with

the Company's ongoing expense and head count reduction initiatives;

-- $155 million of pre-tax intangible asset impairment charges ($129

million after-tax); and

-- $131 million of pre-tax amortization expense ($96 million after-tax).

Adjusted net income for the quarter, excluding these amounts, was $236 million, or $0.16 per share.

Reported net loss for the third quarter of 2007 was $272 million, or $0.18 per share. Reported results for the third quarter of 2007 included acquisition- and divestiture-related charges and amortization expense (after-tax) of $571 million, or approximately $0.38 per share. Adjusted net income for the third quarter of 2007, excluding these charges, was $299 million, or $0.20 per share.

Guidance for Fourth Quar
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SOURCE Boston Scientific Corporation
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