April 21, 2011
BSX Swings To Profit
Boston Scientific Corp. of Natick made a $20 million profit in the first quarter of 2011 after losing $1.6 billion in the same period last year.
Net sales for the period fell slightly, to $1.294 billion from $1.297 billion.
The results included a $759 million pre-tax gain on the sale of BSX's neurovascular business. The company also recorded a $723 million estimated goodwill impairment charge because of a reduction in the size of the U.S. cardiac rhythm management market. But that was less than a $1.8-billion goodwill impairment charge recorded in Q1 2010.
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