Boston Scientific boosts annual revenue by 12%
Courtesy Boston Scientific
Boston Scientific's Global Headquarters are located in Marlborough.
Boston Scientific generated $2.2 billion in sales in the fourth quarter and $124 million in earnings, and finished out 2016 with 12 percent revenue growth for the year, the company announced Thursday.
The Marlborough medical solutions provider beat its guidance range as sales grew by 11 percent year-over-year. The $124 million in profits for the fourth quarter was a stark contrast to the fourth quarter in 2015, when the company posted $142 million in losses.
Sales were $8.4 billion for all of 2016, and full year adjusted earnings per share were $1.11, compared to $0.93 in 2015. For the quarter, earnings per share were $0.25 compared to a loss of $0.18 per share in the fourth quarter of 2015.
All segments and regions saw growth in the fourth quarter, according to the company. The medical and surgery segment grew by 13 percent, cardiovascular grew by 11 percent, and rhythm management grew by 7 percent. Geographically, the U.S. market saw 11 percent growth, Europe grew by 3 percent, and emerging markets grew by 9 percent. The Asia-Pacific, Middle East and Africa market saw the most growth, at 17 percent.
Other fourth quarter achievements included the closing of the company’s acquisition of both EndoChoice and of certain manufacturing assets and capabilities of Neovasc, Inc., which Boston Scientific now holds a 15 percent equity stake in.
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