Boston Scientific on Monday posted a fourth quarter net loss as it took charges related to restructuring operations, divesting assets and patent litigation.
The medical device maker said the net loss was $458 million, or 31 cents a share. That compared with a year-ago net profit of $277 million, or 19 cents a share.
The net loss in the most recent quarter included acquisition, divestiture, litigation and restructuring-related charges and amortization expense (pre-tax) of $939 million, or 55 per share.
Excluding special items, the company posted a profit of 24 cents a share. On that basis, Wall Street analysts on average were expecting a profit of 18 cents a share, according to Reuters Estimates.
Fourth-quarter net sales rose to $2.15 billion from $2.07 billion a year ago.
Worldwide sales of drug-eluting heart stents were $435 million, down from $506 million a year ago. U.S. sales of drug-eluting stents were $224 million, down from $329 million.
Worldwide sales of the cardiac rhythm management devices rose to $544 million, including $396 million of implantable cardioverter defibrillator (ICD) sales. CRM sales last year were $489 million, including ICD sales of $356 million.
The company forecast first-quarter net sales between $1.96 billion and $2.08 billion, with earnings excluding special items estimated between 15 cents and 20 cents per share. It forecast first-quarter net earnings between 13 cents and 18 cents a share.
Shares of Boston Scientific gained over 4 percent in after-hours trading Monday.