Boston Scientific swings back into black
Boston Scientific, lifted by growth in cardiac-treatment devices, reported a 4-percent jump in operational revenue for the first quarter along with net profits of $133 million, rebounding from a $454 million loss in the first quarter of 2013.
The Natick-based medical device manufacturer also predicts 3 to 5 percent annual growth in operations for the year, within a range of $7.3 billion to $7.5 billion, Boston Scientific (BSX) said in its quarterly report filed with the U.S. Securities and Exchange Commission.
BSX is capping off a month that included two notable announcements: federal approval of its newest defibrillators and heart failure devices, and the expansion of its implantable defibrillator into parts of Asia.
The company’s financial report touted BSX’s international business. It reported 22-percent growth in emerging markets, representing 9 percent of all sales.
“Our international business performed very well in the quarter as we continued to diversify geographically,” President and CEO Mike Mahoney said in a statement.
More specifically, BSX cited revenue growth of 2.6 percent for its defibrillator line and 1.6 percent for its heart catheters.
The net income of $133 million amounted to 10 cents per share, compared with a 26-cents-per-share loss in the same quarter last year.
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