-- $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
-- $8 million credit, on both a pre-tax and after-tax basis, to purchased
research and development associated with the Company's acquisition of
-- $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
|SOURCE Boston Scientific Corporation|
Copyright©2008 PR Newswire.
All rights reserved