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Boston Scientific Announces Results For Second Quarter Ended June 30, 2013
Date:7/25/2013

-GAAP financial measures, is included in the exhibits attached to this news release.

CONTACT:

Denise Kaigler508-650-8330 (office)Corporate Affairs & CommunicationsBoston Scientific Corporationmedia@bsci.com Peter Lucht508-650-8796 (office)Global Media RelationsBoston Scientific Corporationmedia@bsci.com Michael Campbell508-650-8023 (office)Investor RelationsBoston Scientific Corporationinvestor_relations@bsci.com

  

 

BOSTON SCIENTIFIC CORPORATIONCONDENSED CONSOLIDATED GAAP RESULTS OF OPERATIONS

(Unaudited)

 Three Months EndedSix Months EndedJune 30,June 30,in millions, except per share data2013201220132012Net sales

$

1,809$

1,828$

3,570$

3,694Cost of products sold

5305781,1081,209Gross profit

1,2791,2502,4622,485Operating expenses:Selling, general and administrative expenses

6616481,2921,306Research and development expenses

223213427428Royalty expense

47488796Amortization expense

10199204195Goodwill impairment charge

—3,6024233,602Intangible asset impairment charges

5312953129Contingent consideration expense (benefit)

(18)1(41)11Restructuring charges

26283639Gain on divestiture

(34)—(40)—Litigation-related charges

—69130691,0594,8372,5715,875Operating income (loss)

220(3,587)(109)(3,390)Other income (expense):Interest expense

(65)(64)(130)(132)Other, net

(3)33(3)27Income (loss) before income taxes

152(3,618)(242)(3,495)Income tax expense (benefit)

22(40)(18)(30)Net income (loss)$130$(3,578)$(224)$(3,465)Net income (loss) per common share - basic$0.10$(2.51)$(0.17)$(2.42)Net income (loss) per common share - assuming dilution$0.10$(2.51)$(
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SOURCE Boston Scientific Corporation
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