UPDATE 1-Boston Scientific profit up on heart rhythm device demand
Feb 4 (Reuters) - Boston Scientific Corp on Tuesday reported higher-than-expected quarterly earnings on higher sales of its implantable devices that manage irregular heart rhythms.
The medical device maker said it had earned $108 million, or 8 cents a share, in the fourth quarter, compared with $60 million, or 4 cents a share, a year earlier.
Excluding acquisition, divestiture, litigation and restructuring charges, earnings were 21 cents a share.
Sales rose 1 percent to $1.84 billion.
Analysts on average had expected a profit of 13 cents a share on sales of $1.83 billion, according to Thomson Reuters I/B/E/S.
Sales of cardiac rhythm management products, including pacemakers and implantable cardioverter defibrillators (ICDs) used to shock dangerously fast heartbeats back to normal rhythm, climbed 2 percent to $468 million in the fourth quarter.
Worldwide sales of interventional cardiology products, primarily stents that are inserted into clogged heart arteries to help prop them open, fell 6 percent to $500 million.
Boston Scientific forecast 2014 earnings of 75 cents to 80 cents a share, excluding special items, on revenue of $7.3 billion to $7.5 billion.
Analysts on average were expecting a profit of 52 cents a share on revenue of $7.41 billion.
Boston Scientific's shares, which more than doubled last year on anticipation of a recovery in the heart rhythm device market and enthusiasm about the company's product pipeline, were down 0.8 percent at $12.90 in trading before the market opened.