(Updated with the forecast in the third paragraph).
April 20 (Bloomberg) - Boston Scientific Corp., the second manufacturer of heart devices, raised its 2011 revenue forecast and said quarterly profit one year after the withdrawal of defibrillators of the market.First-quarter net profit was 20 million dollars, or 1 cent per share, compared with a net loss of $ 1.59 billion, or society of $1.05, a year earlier, the Natick, Massachusetts, said today in a statement. Compensation excluding certain items was 22 cents per share, beating the average estimate of 4 cents of 20 analysts surveyed by Bloomberg. Income was more than expected analysts.Boston Scientific passed in extended trading after the company has increased its forecasts for the benefit of all year excluding non-recurring items of 8 cents to a range of 58 to 68 cents per share. Actions had refused this year, weighed down by prediction of Chief Executive Officer Ray Elliott in February that it would be a "difficult" year for the manufacturer of devices such as economic pressures curb sales of defibrillators and heart stents. "" At first sight - despite difficult markets - it seems that large franchises were grossly expectations and even a little more for the undertaking of stent ", said Rick Wise, an analyst with Leerink Swann & Co. in New York, in an e-mail. The results "should be positive for the stock."Scientific RiseBoston shares rose 27 cents, or 3.8%, to $7.35 pm 5, 18, in exchange for rights extended to the New York Stock Exchange. The shares fell 6.5% this year, making the stock that the worst performer among 13 companies in the Index.Revenue of Standard & Poor of 500 health equipment fell to 1.8% 1.93 billion, or 30 million before the average estimate of 22 analysts surveyed by Bloomberg. Sales global defibrillator increased by 6.9% to $ 417 million, and sales of drug-coated stent fell 6.9% to $ 379 million. Wise provides a decrease of 12% the sales of stent due to the pressure on negative prices.First quarter gains included 723 million in fees to write the value of the cardiac rhythm management business and $ 530 million gain from the sale of a business Neurovascular to Stryker Corp., Boston Scientific said. The year-earlier results declined from 1.8 billion in costs related to March 15, 2010, defibrillator recall after the failure of the company warn regulators of the manufacture of the changes.Boston Scientific said sales will be $ 7.6 billion to 7.9 billion, up from a low of 7.5 billion dollars forecast on February 2. Medtronic Inc., Minneapolis, is the largest manufacturer of heart devices.(To monitor telephone Boston Scientific with investors at 8 a.m. New York Times tomorrow, click {BSX U.S.-Editors: Robin d. Schatz, Bruce Rule
To contact the reporter on this story: Catherine Larkin in Washington at clarkin4@bloomberg.net.
To contact the editor responsible for this story: Adriel Bettelheim at abettelheim@bloomberg.net.
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