Boston Sci. Loss Widens On Charges
Natick-based medical device maker Boston Scientific Corp. reported a fourth quarter loss of $2.4 billion on revenue of slightly more than $2 billion.
For the same period a year ago, the company reported a loss of $458 million on revenue of slightly less than $2.2 billion. The company reported a fourth quarter operating loss of $2.4 billion compared to $430 million a year ago.
For the year, the company reported revenue of $8.1 billion, down from the $8.4 billion it brought in during 2007, and a net loss of $2.1 billion compared to a $495 million loss in 2007.
The company said the results include a $2.7 billion write-down of goodwill associated with its $27 billion acquisition of Guidant Corp. in 2006 and nearly $300 million in charges related to the divestiture of business units, litigation and its ongoing "expense and headcount reductions."
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