Boston Scientific: 4Q Earnings Snapshot
MARLBOROUGH, Mass. (AP) _ Boston Scientific Corp. (BSX) on Wednesday reported fourth-quarter net income of $386 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Marlborough, Massachusetts-based company said it had net income of 27 cents. Earnings, adjusted for one-time gains and costs, came to 39 cents per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.
The medical device manufacturer posted revenue of $2.56 billion in the period, which met Street forecasts.
For the year, the company reported profit of $1.67 billion, or $1.19 per share. Revenue was reported as $9.82 billion.
For the current quarter ending in April, Boston Scientific expects its per-share earnings to range from 35 cents to 36 cents.
The company expects full-year earnings in the range of $1.53 to $1.58 per share.
Boston Scientific shares have risen roughly 7 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 9 percent. The stock has risen 43 percent in the last 12 months.