Rising sales and cost cuts boosted Boston Scientific’s fourth-quarter profit significantly over 2012, the company reported.
The Natick-based medical device maker reported earnings of $290 million or 21 cents per share, after excluding acquisition, divestiture, litigation and restructuring costs. That beat both analysts’ expectations of 13 cents per share and the company’s year-over-year performance of 18 cents.
Sales rose from $1.82 billion in the final quarter of 2013 to $1.84 billion this year. Analysts were expecting sales of $1.83 billion.
The sales growth was fueled largely by the pacemakers and implantable cardioverter defibrillators market, where purchases increased 2 percent to $468 million.
“I am pleased with our results for the quarter and our return to operational revenue growth for the full year 2013,” Mike Mahoney, president and CEO, said in a statement. “This marks our third consecutive quarter of accelerated operational revenue growth and we look forward to continued improvements of our annual sales and earnings performance in 2014.”
BSX projected 2014 earnings of 75 to 80 cents per share on revenue of $7.3 billion to $7.5 billion. Analysts were expecting a profit of 52 cents per share on revenue of $7.41 billion.
BSX stock is down 1.9 percent to $12.76 since the earnings results were announced.
