WASHINGTON (dpa-AFX) - Medical devices maker Boston Scientific Corp. (BSX) reported net earnings of $102 million or $0.08 per share for the second quarter, sharply higher than $4 million or breakeven per share in the prior-year quarter.
Results for the latest quarter include intangible asset impairment charges, acquisition- and divestiture-, restructuring-, and debt extinguishment charges charges, and amortization expense, of $0.14 per share.
Excluding certain items, adjusted earnings for the quarter was $294 million or $0.22 per share, compared to $285 million or $0.21 per share in the year-ago quarter.
On average, 24 analysts polled by Thomson-Reuters expected the company to report earnings of $0.21 per share for the quarter. Analysts' estimates typically exclude one-time items.
Net sales for the quarter decreased 2 percent to $1.84 billion, from $1.87 billion in the same quarter last year. Twenty-two Wall Street analysts had a consensus revenue estimates of $1.83 billion for the quarter.
Looking ahead to the third quarter, the company expects adjusted earnings in a range of $0.21 to $0.23 per share, on projected revenues between $1.790 and $1.840 billion. Analysts expect the company to report earnings of $0.23 per share on quarterly revenues of 1.84 billion.
For fiscal 2015, the company continues to project adjusted earnings an the range of $0.88 to $0.92 per share, while raising revenues outlook to between $7.275 and $7.375 billion from the previously forecast range of $7.225 to $7.375 billion.
Street is currently looking for full-year 2015 earnings of $0.90 per share on annual revenues of $7.34 billion.
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