UPDATE: Boston Scientific Posts Higher Q4 Profit

Boston Scientific

reported an 80% gain in its fourth-quarter income. Boston Scientific's quarterly profit surged to $108 million, or $0.08 per share, from a year-ago profit of $60 million, or $0.04 per share. Excluding special items, it earned $0.21 per share. Its net sales rose 0.9% to $1.84 billion, while gross margin widened to 69.8% from 68%. For the new year, Boston Scientific projects adjusted earnings of $0.75 to $0.80 per share on sales of $7.3 billion to $7.5 billion. However, analysts projected revenue of $7.41 billion. Boston Scientific shares fell 4.66% to $12.90 in pre-market trading.