Boston Scientific Warns on Earnings
From Reuters
Boston Scientific Corp. warned that its 2003 earnings would miss analysts’ expectations as it prepared to spend heavily on the U.S. launch of its latest device to prevent clogged arteries.
Still, shares of the company edged higher because investors were encouraged that Boston Scientific was investing to make the product a strong seller in 2004 and beyond, analysts said.
The Natick, Mass.-based firm forecast 2003 profit of $1.09 to $1.21 a share, excluding charges. Analysts on average had been expecting $1.26, Thomson First Call said.
Boston Scientific closed up 53 cents at $62.56 on the NYSE.
