Natick, MA (February 1, 2011) -- 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 targeted acquisitions and a divestiture,” said Ray Elliott, President and Chief Executive Officer of Boston Scientific. “These acquisitions add promising new technologies to our portfolio and bolster our internal pipeline, which we expect will deliver more than 150 new products through 2015. Proceeds from the divestiture of our Neurovascular business provide us with increased flexibility to fund acquisitions and pay down debt. Nevertheless, we expect 2011 to be a difficult but necessary transition year in part driven by a worsening pricing environment and uncertainty in procedural volumes.”


The following information was filed by Boston Scientific Corp (BSX) on Tuesday, February 1, 2011 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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