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Boston Scientific Announces Results for First Quarter Ended March 31, 2011
Date:4/20/2011

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

631

663Gross profit

1,294

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

596

628Research and development expenses

212

253Royalty expense

51

51Amortization expense

132

128Goodwill impairment charge

723

1,848Intangible asset impairment charges60Contingent consideration expense

6Acquisition-related milestone(250)Restructuring charges

38

65Gain on divestiture

(760)998

2,783Operating income (loss)

296

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

(75)

(93)Other, net

26

4Income (loss) before income taxes

247

(1,575)Income tax expense

227

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

 1,526.5

 1,514.5 Assuming dilution

 1,536.3

 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

$
595

$
213Trade accounts receivable, net

1,336

1,320Inventories

899

894Deferred income taxes

405

429Assets held for sale

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SOURCE Boston Scientific Corporation
Copyright©2010 PR Newswire.
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