(AP) - Medical device maker Boston Scientific says it lost money in the first quarter due to charges, but adjusted results topped Wall Street expectations, sending shares higher in after-hours trading.
The maker of stents, pacemakers and other devices has reported a loss of $13 million, or 1 cent per share. That compares with net income of $322 million, or 21 cents per share, for the first quarter of 2008.
But excluding one-time charges for patent lawsuits and job cuts, the company's earnings totaled 19 cents per share.
Sales fell slightly to $2.01 billion.
Analysts were expecting earnings of 12 cents per share on revenue of $2.02 billion. Those estimates typically exclude one-time items.
Boston Scientific, based in Natick, Mass., employs 6,200 people in Minnesota at production facilities in Maple Grove, Arden Hills and Plymouth.
(Copyright 2009 by The Associated Press. All Rights Reserved.)