February 1, 2018 / 12:01 PM / 2 years ago

CORRECTED-UPDATE 1-Boston Scientific's sales beat, forecasts 2018 revenue above estimates

(Corrects first paragraph to “higher sales in its cardiac rhythm management unit,” from “demand for devices such as pacemakers and stents”)

Feb 1 (Reuters) - Boston Scientific Corp on Thursday forecast better-than-expected 2018 revenue after the medical device maker’s fourth-quarter sales beat Wall Street estimates on higher sales in its cardiac rhythm management unit.

The company said it expects a revenue of between $9.65 billion and $9.80 billion and adjusted earnings per share of $1.35 to $1.39 in 2018.

Analysts on average forecast earnings per share of $1.38 on a revenue of $9.61 billion in 2018, according to Thomson Reuters I/B/E/S.

Boston Scientific reported a net loss of $615 million, or 45 cents per share, in the fourth quarter ended Dec. 31, compared with a profit of $124 million, or 9 cents per share, a year earlier. In the reporting quarter, the company incurred a $842 million charge due to changes in the U.S. tax law.

The company’s adjusted earnings of 34 cents per share were in line with the average analyst estimate.

Net sales rose 10 percent to $2.41 billion, beating the average estimate of $2.38 billion.

Reporting by Tamara Mathias in Bengaluru; Editing by Arun Koyyur

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