Medical Technology

Guidant Corporation

The Company

Guidant Corp. <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: GDT)") else Response.Write("(NYSE: GDT)") end if %> is the worldwide leader in coronary angioplasty devices, which are used to open blocked coronary arteries, as well as the leader in implantable cardiac defibrillator systems. The company is a multinational firm that designs, develops, manufactures and markets a broad range of products for use in cardiac rhythm management. Guidant was spun off from Eli Lilly in late 1994.

Latest Financials

Guidant Corp. announced second quarter sales of $281million, an increase of 6% over the second quarter of 1996 and a record for the company. Worldwide sales volume growth of 18% was partially offset by a 3% decrease in revenues resulting from unfavorable currency movements and a 9% decline primarily due to worldwide product mix changes and international price erosion. The company's acquisition of NeoCardia, LLC, announced May 7, resulted in a $57.4 million pre-tax special charge to second quarter 1997 financial results, yielding net income of $9.0 million and earnings per share of $0.12 for the quarter.

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