WASHINGTON (dpa-AFX) - Boston Scientific Corp. (BSX) Wednesday announced third quarter swing to a profit of $228 million or $0.17 per share compared to loss of $198 million or $0.16 per share last year. On an adjusted basis, earnings were $0.27 per share.
On average, 25 analysts polled by Thomson Reuters expected the company to earn $0.27 per share. Analysts estimates usually exclude special items.
Net sales for the quarter increased to $2.105 billion from $1.89 billion in the prior year. Wall Street expected $2.07 billion.
Looking ahead to the fourth quarter, the company expects earnings in a range of $0.15 to $0.17 per share. On an adjusted basis, earnings is expected to be in a range of $0.27 to $0.29 per share. Street expects $0.29 per share on revenue of $2.15 billion.
Sales projection for the fourth quarter is in a range of $2.14 to $2.19 billion or a growth of 8 to 11 percent from the prior year.
For the full year 2016, the company tightened its outlook for earnings to a range of $0.32 to $0.34 per share from previous range of $0.30 to $0.35 per share. On an adjusted basis, earnings is expected to be in a range of $1.09 to $1.11 per share, while it s earlier outlook was in a range of $1.07 to $1.11 per share. Wall Street expects $1.1 per share on revenue of $8.31 billion.
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