Boston Scientific (BSX) reported that sales for the first quarter of 2007 were $2.086 billion as compared to $1.620 billion for the first quarter of 2006. EPS came in at $.08.

Analysts surveyed by Thomson Financial estimate earnings per share of 10 cents on revenue of $2.08 billion.

The company’s drug coated stent business is still in the out-house. Worldwide sales of the drug-eluting coronary stent systems for the first quarter of 2007 were $468 million as compared to $633 million for the first quarter of 2006

Guidance was mediocre. BSX estimates net sales for the second quarter of 2007 of between $2.0 billion and $2.1 billion. In addition, EPS on a GAAP basis should be between $0.04 and $0.09 per share.

The shares dropped more than 2% on the news.

Just another bad quarter.

Douglas A. McIntyre