Boston Scientific ups forecast

BOSTON Scientific Corp, the second-largest maker of heart devices, raised its 2011 earnings forecast and reported a quarterly profit a year after withdrawing implantable defibrillators from the market.

First-quarter net income was $20 million (€13.97m), or 1 cent a share, compared with a net loss of $1.59billion, or $1.05, a year earlier, the Natick, Massachusetts-based company said in a statement.

Earnings excluding certain items were 22 cents a share, beating the 4 cent average estimate of 20 analysts surveyed by Bloomberg. Revenue was more than analysts expected.

Boston Scientific gained in extended trading after the company increased its forecast for its full-year profit.

The shares had declined this year, weighed down by chief executive Ray Elliott’s prediction in February that it would be a difficult year for the device maker as economic pressures curb sales of defibrillators and heart stents.