Boston Scientific beats 2Q earnings forecast
Boston Scientific's headquarters in Marlborough. The company reported $146 million in earnings in the quarter ending June 30.
Medical device manufacturer Boston Scientific reported a 6-percent sales growth in the quarter ending June 30, with earnings jumping to $146 million.
The Marlborough company brought in second-quarter sales of nearly $2.3 billion, it reported on Thursday, exceeding a sales forecast for between $2.185 billion and $2.215 billion.
Profit of $146 million, or 11 cents per share, is a sharp turnaround from a year ago, when Boston Scientific reported a $207-million loss. That profit-per-share number fell short of the company's forecasted range of $0.18 to $0.21 per share, primarily due what it called to litigation-related charges. Those were pegged at $206 million for the quarter, but the company did not disclose the nature of the litigation.
Boston Scientific stock fell very slightly on Thursday, by 0.8 percent, in the $27 range.
Much of that growth took place in 20 countries that Boston Scientific calls emerging markets, which it did not specify but said experienced 13-percent growth. North American growth was 9 percent, while Europe grew by just 1 percent.
Among its products, the medical-surgical sector grew by 11 percent, while cardiovascular devices grew by 5 percent.
Forecasted sales for the budget year was adjusted up slightly, to as much as $8.9 billion.
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