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Boston Scientific Announces Results for Second Quarter Ended June 30, 2009
Date:7/20/2009

0 per share, which consisted of:

  • $8 million ($10 million pre-tax) of intangible asset impairment charges associated primarily with certain Urology-related intangible assets;
  • $17 million, on both a pre-tax and after-tax basis, of purchased research and development charges, associated with the acquisition of certain technology rights;
  • $22 million ($30 million pre-tax) of restructuring and restructuring-related charges associated with the Company's plant network optimization plan and expense and head count reduction initiatives;
  • An $11 million credit for discrete tax items related to certain tax positions taken in a prior period; and
  • $103 million ($126 million pre-tax) of amortization expense.

Adjusted net income for the second quarter of 2009, excluding these charges, was $297 million, or $0.20 per share.

Reported net income for the second quarter of 2008 was $98 million, or $0.07 per share. Reported results included acquisition-, divestiture-, and restructuring-related charges and amortization expense (after-tax) of $206 million, or $0.13 per share. Adjusted net income for the second quarter of 2008, excluding these charges, was $304 million, or $0.20 per share.

"We were also encouraged during the quarter by positive outcomes from three important trials -- MADIT-CRT, MADIT II and SYNTAX -- all of which provided additional evidence of the effectiveness of our products," said Elliott. "New products accounted for more than 40 percent of our sales this quarter, and we continue to bring a wide range of innovations to market. We recently received FDA approval for the TAXUS((R)) Liberte((R)) Atom(TM) Paclitaxel-Eluting Coronary Stent System, the TAXUS((R)) Liberte((R)) Long Paclitaxel-Eluting Coronary Stent System and an expanded indication for the SpyScope((R)) Access and Delivery Catheter, as well as CE
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SOURCE Boston Scientific Corporation
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