BSX Profits Down 25 Percent
Natick medical device maker Boston Scientific Corp. saw its profits fall 25 percent for the third quarter of the year, while revenues dropped by 2 percent compared to last year.
Sales for the quarter were $1.87 billion, down from $1.92 billion in the third quarter of 2010. Profits were $142 million, down from $190 million. The revenue drop represented a decline in the sales of implantable devices to treat heart problems. The company partly made up for that drop with sales of new products in its endoscopy, peripheral interventions and neuromodulation divisions.
BSX issued a new estimate of sales for the full year of between $7.62 billion and $7.72 billion. That assumes a $204 million negative impact from the company's divestiture of its neurovascular business. It said it does not expect recent acquisitions of other businesses to contribute significantly to sales for the year.
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