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Boston Scientific earnings: Writedown pushes BSX into Q3 red

Thu, 10/18/2012 - 10:21am
Mass Device

Boston Scientific says an $809 million writedown for its cardiac rhythm management unit pushed it into a loss for the 3rd quarter.

Boston Scientific

Boston Scientific (NYSE:BSX) took a writedown for the 2nd consecutive quarter today, posting a 3rd-quarter loss and lowering its sales outlook for the rest of the year.

Still, excluding 1-time items, the Natick, Mass.-based medical device company managed to beat Wall Street's expectations by a penny.

BSX logged a net loss of $725 million, or 52¢ per share, on sales of $1.74 billion for the 3 months ended Sept. 30. That represents a 7.4% top-line slide.

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