April 22, 2008
Biz Sales, Expense Cuts Boost BSX Profits
Natick-based Boston Scientific Corp. first-quarter net income was up $202 million thanks partly to the sale of five "non-strategic" businesses.
Net income for the quarter was $322 million, compared to $120 million for the same quarter last year. Sales for the quarter declined slightly to $2.046 billion, from $2.086 billion in 2008.
The company saw a $114 million after-tax gain from the sale of the five businesses.
Boston Scientific said the numbers represent progress, especially in cutting expenses. It decreased its spending on selling, general and administrative expenses and research and development by $119 million.
Net income for the quarter was $322 million, compared to $120 million for the same quarter last year. Sales for the quarter declined slightly to $2.046 billion, from $2.086 billion in 2008.
The company saw a $114 million after-tax gain from the sale of the five businesses.
Boston Scientific said the numbers represent progress, especially in cutting expenses. It decreased its spending on selling, general and administrative expenses and research and development by $119 million.
WBJ Web Partners
Most Recent
Most Recent
0 Comments