Boston Scientific Announces Results for Fourth Quarter and Full Year Ended Decembe... ( NATICK Mass. Feb. 1 2011 /- Boston Sc...)

Boston Scientific Announces Results for Fourth Quarter and Full Year Ended December 31, 2010

Date:2/1/2011

NATICK, Mass., Feb. 1, 2011 /PRNewswire/ -- Boston Scientific Corporation (NYSE: BSX) today announced financial results for the fourth quarter and full year ended December 31, 2010, as well as net sales and earnings per share (EPS) guidance for the full year and first quarter 2011.

Fourth quarter highlights:

Reported sales of $2.002 billion with GAAP earnings of $0.15 per diluted share and adjusted earnings per diluted share of $0.20.

Increased year-over-year International ICD reported sales 6 percent (including 3 points of unfavorable foreign exchange impact), supported by the introduction of several new technologies.

Received CE Mark approval for INCEPTA™, ENERGEN™ and PUNCTUA™, the Company's next-generation cardiac resynchronization therapy defibrillators (CRT-Ds) and implantable cardioverter defibrillators (ICDs).

Maintained leadership position in the global drug-eluting stent (DES) market with 35 percent share worldwide and U.S. share of 46 percent. Rapidly increased growth in PROMUS® Element™ sales throughout 2010 with sales of $227 million, exiting the year with nearly a quarter of the European DES market.

Increased worldwide Neuromodulation sales 8 percent and Endoscopy sales 6 percent.

Executed on several Priority Growth Initiatives through the recently announced acquisitions of Asthmatx, Sadra Medical, Atritech and Intelect Medical.

Divested Neurovascular business in January 2011 for $1.5 billion, with expected after-tax proceeds of $1.2 billion.

Prepaid all $600 million of senior notes due in June 2011 and paid at maturity $250 million of senior notes in January 2011.

"We've made significant progress in our strategy to realign our portfolio through the execution of our Priority Growth Initiatives, with four targete
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SOURCE Boston Scientific Corporation
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