Boston Scientific (BSX) 8-K Company provides revised revenue and earnings guidance

EXHIBIT 99.1

BOSTON SCIENTIFIC ANNOUNCES

THIRD QUARTER RESULTS

Company provides revised revenue and earnings guidance

Natick, MA (October 14, 2005) -- Boston Scientific Corporation (NYSE: BSX) today announced financial results for its third quarter ended September 30, 2005 and provided revised revenue and earnings-per-share guidance for the fourth quarter and full year of 2005.

Third Quarter Financial Results:

Net sales for the third quarter were $1.511 billion as compared to $1.482 billion for the third quarter of 2004, an increase of two percent. Worldwide coronary stent sales for the third quarter were $633 million as compared to $686 million for the third quarter of 2004. Worldwide sales of TAXUS^® paclitaxel-eluting coronary stent systems were $601 million.

During the quarter, the Company recorded special charges of $616 million, net of tax. The after-tax special charges for the quarter consisted primarily of $598 million related to the previously announced settlement agreement with Medinol. The reported net loss for the quarter, including net special charges, was $269 million, or $0.33 per share.

Net income for the quarter, excluding net special charges, was $347 million, or $0.42 per share, as compared to $404 million, or $0.47 per share in the third quarter of 2004.

Fourth Quarter and Full Year 2005 Guidance:

For the fourth quarter, worldwide sales are expected to range between $1.550 billion and $1.590 billion. Earnings per share for the fourth quarter, excluding net special charges, are expected to range between $0.40 and $0.44 per share.

Worldwide sales for the full year are expected to range between $6.293 billion and $6.333 billion. Earnings per share for 2005, excluding net special charges, are expected to range between $1.81 and $1.85 per share.

“During the quarter, we maintained our drug-eluting stent leadership position and experienced significant growth in international TAXUS^® stent system sales,” said Jim Tobin, President and Chief Executive Officer of Boston Scientific. “In addition, we were encouraged by the enthusiastic physician response to our next-generation TAXUS^® Liberté™ stent system, which we recently

-- more --

Boston Scientific Corporation/Page 2

October 14, 2005

launched in Europe. Overall, we were pleased with the solid growth in most of our businesses, with the exception of U.S. drug-eluting stent sales.”

The Company plans to communicate guidance for 2006 in January.

Boston Scientific officials will be discussing these and other issues with analysts on a conference call at 9:00 a.m. (ET) Friday, October 14. The Company will webcast the call to all interested parties through its website: www.bostonscientific.com. Please see the website for details on how to access the webcast. The webcast will be available for one year on the Boston Scientific website.

Boston Scientific is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a broad range of interventional medical specialties. For more information, please visit: www.bostonscientific.com.

The Company discloses non-GAAP or pro forma measures that exclude certain charges. Non-GAAP measures may exclude such items as charges related to purchased in-process research and development and certain litigation. Management uses these measures to establish operational goals, and believes that non-GAAP measures may assist investors in analyzing the underlying trends in the Company’s business over time. Investors should consider these non-GAAP measures in addition to, not as a substitute for, or as superior to, financial reporting measures prepared in accordance with GAAP.

This press release contains forward-looking statements. The Company wishes to caution the reader of this press release that actual results may differ from those discussed in the forward-looking statements and may be adversely affected by, among other things, risks associated with new product development and introduction, clinical trials, regulatory approvals, competitive offerings, intellectual property, litigation, the Company’s overall business strategy, and other factors described in the Company’s filings with the Securities and Exchange Commission.

CONTACT:	Milan Kofol
	508-650-8569
	Investor Relations
	Boston Scientific Corporation
	Paul Donovan
	508-650-8541
	Media Relations
	Boston Scientific Corporation

BOSTON SCIENTIFIC CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited) 

	Three Months Ended September 30, 2005									Three Months Ended September 30, 2004
In millions, except per share data	Reported			Adjustments			Adjusted			Reported			Adjustments			Adjusted
Net sales	$	1,511					$	1,511		$	1,482					$	1,482
Cost of products sold		343						343			309						309
Gross profit		1,168						1,168			1,173						1,173
Selling, general and administrative expenses		444		$	(11	)		433			504		$	(110	)		394
Research and development expenses		181			(7	)		174			145						145
Royalty expense		52						52			57						57
Amortization expense		47			(10	)		37			34						34
Litigation-related charges		780			(780	)					75			(75	)
		1,504			(808	)		696			815			(185	)		630
Operating (loss)/income		(336	)		808			472			358			185			543
Other income (expense):
Interest expense		(21	)					(21	)		(19	)					(19	)
Other, net		5						5			9						9
(Loss)/income before income taxes		(352	)		808			456			348			185			533
Income taxes		(83	)		192			109			90			39			129
Net (loss)/income	$	(269	)	$	616		$	347		$	258		$	146		$	404
Net (loss)/income per common share - assuming dilution	$	(0.33	)				$	0.42		$	0.30					$	0.47
Weighted average shares outstanding - assuming dilution		819.9						830.8			861.0						861.0

	Nine Months Ended September 30, 2005									Nine Months Ended September 30, 2004
In millions, except per share data	Reported			Adjustment			Adjusted			Reported			Adjustments			Adjusted
Net sales	$	4,743					$	4,743		$	4,024					$	4,024
Cost of products sold		1,044						1,044			964						964
Gross profit		3,699						3,699			3,060						3,060
Selling, general and administrative expenses		1,346		$	(28	)		1,318			1,227		$	(110	)		1,117
Research and development expenses		506			(7	)		499			411						411
Royalty expense		174						174			131						131
Amortization expense		114			(10	)		104			82						82
Purchased research and development		276			(276	)					64			(64	)
Litigation-related charges		780			(780	)					75			(75	)
		3,196			(1,101	)		2,095			1,990			(249	)		1,741
Operating income		503			1,101			1,604			1,070			249			1,319
Other income (expense):
Interest expense		(58	)					(58	)		(44	)					(44	)
Other, net		8						8			9						9
Income before income taxes		453			1,101			1,554			1,035			249			1,284
Income taxes		159			213			372			270			39			309
Net income	$	294		$	888		$	1,182		$	765		$	210		$	975
Net income per common share - assuming dilution	$	0.35					$	1.41		$	0.89					$	1.14
Weighted average shares outstanding - assuming dilution		840.3						840.3			858.7						858.7

BOSTON SCIENTIFIC CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited) 

	September 30,		December 31,
In millions	2005		2004
Assets
Current assets:
Cash, cash equivalents and short-term investments	$	917	$	1,640
Trade accounts receivable, net		951		900
Inventories		428		360
Other current assets		465		389
Total current assets		2,761		3,289
Property, plant and equipment, net		986		870
Intangible assets, net		3,532		3,340
Investments		581		529
Other assets		216		142
	$	8,076	$	8,170
Liabilities and Stockholders’ Equity
Current liabilities:
Borrowings due within one year	$	84	$	1,228
Accounts payable and accrued expenses		981		1,010
Other current liabilities		77		367
Total current liabilities		1,142		2,605
Long-term debt		2,430		1,139
Other long-term liabilities		603		401
Stockholders’ equity		3,901		4,025
	$	8,076	$	8,170

BOSTON SCIENTIFIC CORPORATION

WORLDWIDE SALES

REGIONAL SUMMARY

(Unaudited) 

	Three Months Ended
	September 30,				Change
					As Reported			Constant
In millions	2005		2004		Currency Basis			Currency Basis
DOMESTIC	$	926	$	979		-5	%		-5	%
EUROPE		274		236		16	%		17	%
JAPAN		140		144		-3	%		-1	%
INTER-CONTINENTAL		171		123		39	%		30	%
INTERNATIONAL		585		503		16	%		15	%
WORLDWIDE	$	1,511	$	1,482		2	%		1	%
		Nine Months Ended September 30,				Change
						As Reported			Constant
In millions		2005		2004		Currency Basis			Currency Basis
DOMESTIC	$	2,924	$	2,499		17	%		17	%
EUROPE		871		707		23	%		20	%
JAPAN		440		456		-4	%		-5	%
INTER-CONTINENTAL		508		362		40	%		32	%
INTERNATIONAL		1,819		1,525		19	%		15	%
WORLDWIDE	$	4,743	$	4,024		18	%		16	%

BOSTON SCIENTIFIC CORPORATION

WORLDWIDE SALES

DIVISIONAL SUMMARY

(Unaudited) 

	Three Months Ended
	September 30,				Change
					As Reported			Constant
In millions	2005		2004		Currency Basis			Currency Basis
Cardiovascular	$	1,068	$	1,107		-4	%		-4	%
Electrophysiology		32		32		0	%		0	%
Neurovascular		67		60		12	%		12	%
CARDIOVASCULAR		1,167		1,199		-3	%		-3	%
Oncology		52		46		13	%		15	%
Endoscopy		172		157		10	%		9	%
Urology		85		66		29	%		28	%
ENDOSURGERY		309		269		15	%		15	%
Neuromodulation		35		14		150	%		155	%
WORLDWIDE	$	1,511	$	1,482		2	%		1	%
		Nine Months Ended September 30,				Change
						As Reported			Constant
In millions		2005		2004		Currency Basis			Currency Basis
Cardiovascular	$	3,428	$	2,922		17	%		16	%
Electrophysiology		97		95		2	%		1	%
Neurovascular		206		186		11	%		8	%
CARDIOVASCULAR		3,731		3,203		16	%		15	%
Oncology		154		137		12	%		11	%
Endoscopy		519		474		9	%		8	%
Urology		238		189		26	%		25	%
ENDOSURGERY		911		800		14	%		13	%
Neuromodulation		101		21		381	%		376	%
WORLDWIDE	$	4,743	$	4,024		18	%		16	%