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Boston Scientific Announces Results for Third Quarter Ended September 30, 2009
Date:10/19/2009

Q3 2009 Q3 2008 Q3 2009 Q3 2008 Q3 2009 Q3 2008 ------- ------- ------- ------- ------- ------- Drug-eluting $222 $209 $189 $187 $411 $396 Bare-metal 14 19 27 31 41 50 ---- ---- ---- ---- ---- ---- Total coronary stent systems $236 $228 $216 $218 $452 $446 ==== ==== ==== ==== ==== ====

Reported net income for the third quarter of 2009 was $200 million, or $0.13 per share. Reported results included litigation-related credits, restructuring and restructuring-related costs and amortization expense (after-tax) of $91 million, or $0.06 per share, which consisted of:

  • a $37 million ($58 million pre-tax) credit associated with the reduction of previously recorded reserves associated with certain litigation-related matters;
  • $21 million ($28 million pre-tax) of restructuring and restructuring-related costs associated with the Company's Plant Network Optimization program and 2007 restructuring plan; and
  • $107 million ($126 million pre-tax) of amortization expense.

Adjusted net income for the third quarter of 2009, excluding these net charges, was $291 million, or $0.19 per share.

Reported net loss for the third quarter of 2008 was $62 million, or $0.04 per share. Reported results included intangible asset impairment charges; acquisition-, divestiture-, and litigation-related net charges; restructuring and restructuring-related costs and amortization expense (after-tax) of $298 million, or $0.20 per share. Adjusted net income for the third quarter of 2008, excluding these charges, was $236 million, or $0.16 per share.

"The quarter was marked by significant clinical accomplishments," said Elliott. "We announced final res
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SOURCE Boston Scientific Corporation
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