Boston Scientific Corp. posted quarterly results Tuesday that easily beat Wall Street expectations but said 2011 will be a "difficult but necessary" transition year.
In the quarter ended Dec. 31, the Natick, Mass.-based company reported net income of $236 million, or 16 cents a share, compared with a loss of $1 billion, or 71 cents a share, a year earlier. The 2009 loss was tied to a settlement over patent disputes with rival Johnson & Johnson, plus other charges.
Excluding one-time items, earnings for the quarter were $313 million, or 20 cents a share, compared with $304 million, or 20 cents a share, a year earlier. Wall Street analysts were expecting the to earn 10 cents a share.
Sales for the quarter were $2 billion, down slightly from $2.1 billion.
The company, which empoys about 5,000 people in the Twin Cities, reported results after the markets closed Tuesday.
Janet Moore • 612-673-7752
