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Boston Scientific Announces Results for First Quarter Ended March 31, 2011

Media RelationsBoston Scientific Corporationerik.kopp@bsci.comSean Wirtjes508-652-5305 (office)Investor RelationsBoston Scientific Corporationinvestor_relations@bsci.comBOSTON SCIENTIFIC CORPORATIONCONDENSED CONSOLIDATED GAAP RESULTS OF OPERATIONS

(Unaudited)Three Months EndedMarch 31,in millions, except per share data

20112010Net sales

$  1,925

$  1,960Cost of products sold


663Gross profit


1,297Operating expenses:Selling, general and administrative expenses


628Research and development expenses


253Royalty expense


51Amortization expense


128Goodwill impairment charge


1,848Intangible asset impairment charges60Contingent consideration expense

6Acquisition-related milestone(250)Restructuring charges


65Gain on divestiture


2,783Operating income (loss)


(1,486)Other income (expense):Interest expense


(93)Other, net


4Income (loss) before income taxes


(1,575)Income tax expense


14Net income (loss)$
20$ (1,589)Net income (loss) per common share - basic$
.01$   (1.05)Net income (loss) per common share - assuming dilution$
.01$   (1.05)Weighted-average shares outstandingBasic


 1,514.5 Assuming dilution


 1,514.5 BOSTON SCIENTIFIC CORPORATIONCONDENSED CONSOLIDATED BALANCE SHEETSAs ofMarch 31,December 31,in millions, except share data

20112010(Unaudited)ASSETSCurrent assets:Cash and cash equivalents


213Trade accounts receivable, net




894Deferred income taxes


429Assets held for sale


SOURCE Boston Scientific Corporation
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