<PAGE>
 
                              GUIDANT CORPORATION

                                 Exhibit 99.1

              Factors Possibly Affecting Future Operating Results

     From time to time, the Company may publish forward-looking statements
relating to such matters as anticipated financial performance, business
prospects, technological developments, new products, research and development
activities and similar matters. The Private Securities Litigation Reform Act of
1995 provides a safe harbor for forward-looking statements. In order to comply
with the terms of the safe harbor, the Company notes that a variety of factors
could cause the Company's actual results and experience to differ materially
from the anticipated results or other expectations expressed in the Company's
forward-looking statements. The risks and uncertainties that may affect the
operations, performance, development and results of the Company's business
include the following:

1.   Economic factors over which the Company has no control, including changes
in inflation, interest rates and foreign currency exchange rates.

2.   Delay and uncertainties in the regulatory approval process in the United
States and other countries, resulting in lost market opportunities.

3.   Unexpected safety, performance or efficacy concerns arising with respect to
marketed products, whether or not scientifically justified, leading to product
recalls, withdrawals or declining sales.

4.   Unexpected interruptions of manufacturing operations as a result of 
regulatory enforcement actions by the FDA or other regulatory authorities.

5.   The difficulties and uncertainties inherent in new product development, 
including new products that appear promising during development but fail to 
reach the market as a result of safety, performance or efficacy concerns, 
inability to obtain necessary regulatory approvals, unanticipated restrictions 
imposed on approved indications, excessive costs to manufacture, infringement of
patents or other intellectual property rights of others, or technological 
advances by a competitor of the Company.

6.   Litigation and other legal factors which could preclude commercialization
of products or negatively affect the level of sales or profitability of existing
products, including litigation of product liability claims, antitrust
litigation, environmental matters and patent disputes.

7.   Future difficulties obtaining necessary components or materials used in 
manufacturing the Company's products.

8.   Future difficulties obtaining or the inability to obtain appropriate levels
of product liability insurance.

9.   Competitive factors including the ability of the Company to obtain patent 
rights or other intellectual property rights sufficient to keep competitors from
marketing competing products, the introduction of new products or therapies by 
competitors or scientific or medical developments that render the Company's 
products obsolete, uneconomical or otherwise non-competitive or the acquisition 
of patents by competitors that prevent the Company from selling a product or 
including key features in the Company's products.
<PAGE>
 
10. Governmental factors including laws and regulations and judicial decisions 
that affect the regulation of medical devices, product liability, health care 
reform or tax laws.

11. Health care industry factors, including increased customer demands for price
concessions, reductions in third-party (Medicare, Medicaid and other 
governmental programs, private health care insurance and managed care plans) 
reimbursement levels for procedures using the Company's products and limits 
imposed by customers on the number of manufacturers or vendors which the 
customer will purchase products from.

12. Accounting requirements to write off obsolete inventory or goodwill which 
reduces reported earnings or changes in accounting standards applicable to the 
Company.

13. Internal factors such as retention of key employees, change in business 
strategies and the impact of restructuring and business combinations.

14. The ability of the Company to implement its strategy that includes the 
potential acquisition of one or more businesses.

15. The inability of certain of the Company's, or its Suppliers' or Customers', 
computer systems to handle dates beyond the year 1999.

16. Factors beyond the control of the Company, including earthquakes 
(particularly in light of the fact that the Company has significant facilities 
located near major earthquake fault lines), floods, fires or explosions.