Boston Scientific Corp (BSX)

[mlkrborn]

Boston Scientific beats by $0.06, misses on revs; guides Q4 EPS above consensus, revs below consensus; repurchased 30 mln shares (BSX) 5.64 : Reports Q3 (Sep) earnings of $0.15 per share, excluding non-recurring items, $0.06 better than the Capital IQ Consensus Estimate of $0.09; revenues fell 2.2% year/year to $1.87 bln vs the $1.91 bln consensus. Co issues mixed guidance for Q4, sees EPS of $0.13-0.16 vs. $0.10 Capital IQ Consensus Estimate; sees Q4 revs of $1.85-1.95 bln vs. $1.97 bln Capital IQ Consensus Estimate. Compared to sales for the fourth quarter of 2010, this range assumes a $64 million negative impact from the divestiture of the Neurovascular business. Recent acquisitions are not expected to contribute significantly to fourth quarter sales. Recent acquisitions are expected to dilute fourth quarter 2011 adjusted earnings by ~$0.01 per share as compared to the prior year, and the divestiture of the Neurovascular business is expected to dilute fourth quarter 2011 adjusted earnings by $0.01 per share. Co also announced that they invested $192 mln to purchase 30 mln shares under the co's estimated $1.25 bln combined share repurchase authorizations.