Medtronic (MDT) Message Board

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Biotech / Medical : Medtronic (MDT)

MDT 90.43

+0.2%

3:59 PM EST

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To: Jack Hartmann who wrote (516)	1/5/2001 9:49:32 PM
From: Jack Hartmann	Read Replies (1) of 687

Guidant Falls After Profit Warning By Yi Ping Ho Staff Reporter 1/5/01 3:06 PM ET Shares of Guidant (GDT:NYSE - news) tumbled after the medical devices maker said it expects fourth-quarter earnings to miss analysts' expectations, citing the impact of a strong dollar that undercut the value of foreign sales. The company's stock recently lost $4.25, or 8.3%, to $47.06 on the New York Stock Exchange. The Indianapolis company said in a conference call this morning it sees earnings "at or above" 40 cents a share, clarifying last night's warning that said the negative impact on fourth-quarter earnings would total 2 cents to 3 cents a share. Twenty-eight analysts polled by First Call/Thomson Financial expect fourth-quarter earnings of 43 cents a share, up from 36 cents a share a year ago. On Thursday, Guidant said it sees fourth-quarter revenue of about $646 million, up from $584.2 million a year earlier. The company said sales would have been nearly $670 million, before the effect of negative foreign exchange factors. Guidant also said Thursday it expects sales to grow "in the low-to-mid teens" and earnings to grow "in the mid-to-high teens" for 2001. Guidant said the consensus earnings estimate for 2001 "is reasonable" and within the company's expected range. Analysts on average forecast 2001 earnings of $1.88 a share and 2000 earnings of $1.60 a share. The company earned $1.32 in 1999. thestreet.com GDT is a competitor to MDT for new lurkers. Jack

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