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Boston Scientific Second Quarter Results Exceed Consensus Sales and EPS; Full-Year Guidance Raised
Date:7/28/2011

xpected to drive an expansion of Boston Scientific’s current sales force to approximately 700 employees and the creation of a fully staffed manufacturing infrastructure.  During the second quarter, Boston Scientific received registration approval for the PROMUS Element™ Everolimus-Eluting Platinum Chromium Coronary Stent from the State Food and Drug Administration of the People’s Republic of China.  The Company expects to launch the product in the fourth quarter of 2011.

“Our POWER strategy is gaining traction and beginning to deliver tangible results,” stated Ray Elliott, President and Chief Executive Officer of Boston Scientific Corporation.  “In addition to solid second quarter financial results, we have now announced the prepayment of our remaining term loan borrowings, a share buyback program, a productivity-focused restructuring program and an additional investment in China, all of which are key steps on the path to achieving our goals.  That’s great news for our employees, shareholders and customers!  We remain confident that Boston Scientific is POWERed for long-term, sustainable growth.”

Net sales for the second quarter of 2011 were $1.975 billion, as compared to net sales of $1.928 billion for the second quarter of 2010, an increase of 2 percent.  Excluding the impact of changes in foreign currency exchange rates and sales from divested businesses, net sales remained flat as compared to the prior period.

Worldwide net sales for the second quarter - on a constant currency and as reported basis - were as follows:ChangeThree Months EndedAs ReportedConstantJune 30,CurrencyCurrencyin millions

20112010 BasisBasisCardiac Rhythm Management$
544$
5273%(2)%Interventional Cardiology

652

657(1)

%

(6)

%Peripheral Interventions

189

16614

%

7

%Cardiovascular Group8418
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SOURCE Boston Scientific Corporation
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