Interventional firm Guidant reported record third-quarter revenues of $938 million, up 15% compared with the $813 million in sales posted in the same period in 2002. For the quarter (end-September 30), the Indianapolis-based firm had net income of $129.1 million, in compared with net income of $175.1 million in the third quarter of 2002.
The firm said foreign currency translations favorably impacted revenue by $24 million and net income by $6.6 million. Income for the quarter was also impacted by a special $35 million in-process research and development charge related to the acquisition of certain bioabsorbable polymer technologies from MediVas, Guidant said.
Guidant also announced a sales guidance for its fiscal fourth quarter of $920 million to $960 million. This range results in full-year sales of $3.68 billion to $3.72 billion. The firm also raised its full-year adjusted earnings guidance to $2.36-$2.41 per share, and said its fourth-quarter adjusted earnings guidance would be 55¢-60¢ per share.
By AuntMinnie.com staff writers
October 16, 2003
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