€170m profits at Boston Scientific

BOSTON Scientific, the second-biggest heart-device maker, reported a fourth-quarter profit last night that beat analyst estimates on higher- than-expected sales.

Net income was $236 million (€170m), or 15 cents a share, compared with a loss of $1.08 billion (€780m), or 71 cents, a year ago after one-time legal costs, the company said last night. Earnings excluding some items were 20 cents per share, topping the average estimate of 10 cents in a Bloomberg survey of 22 analysts. The company forecast 2011 profit, excluding some items, of 50 cents to 60 cents a share.

Chief executive Ray Elliott has said his goal is to double revenue growth to as much as 8% by 2015, in part by acquiring companies in higher-growth businesses. The company is seeking to overcome slowing sales in its two biggest markets, cardiac stents and heart-rhythm devices including pacemakers.