During the fourth quarter of 2016, Boston Scientific’s sales increased 11 percent to $2.19 billion compared with the same time period in 2015, while its full-year sales for 2016 increased 12 percent to $8.84 billion compared with the previous year.
Boston Scientific announced the financial results on Feb. 2.
As of 1:30 p.m. (EST) on Feb. 2, Boston Scientific’s stock price had increased more than 5 percent to $25.17 per share.
The company reported GAAP earnings of $0.09 per share for the fourth quarter and $0.25 per share for the full year. It had a GAAP loss of $0.11 per share in the fourth quarter of 2015 and a GAAP loss of $0.18 per share for the full year of 2015.
The company’s guidance range for fourth quarter 2016 revenue was between $2.140 billion and $2.190 billion, while its guidance for fourth quarter 2016 GAAP earnings was between $0.15 and $0.17 per share.
For the fourth quarter of 2016, sales increased 11 percent to $840 million in the cardiovascular segment, increased 7 percent to $536 million in the rhythm management segment and increased 13 percent to $815 million in the MedSurg segment.
For the full year of 2016, sales increased 12 percent to $3.292 billion in the cardiovascular segment, increased 3 percent to $2.093 billion in the rhythm management segment and increased 20 percent to $3.001 billion in the MedSurg segment.
Boston Scientific also provided guidance for the full year 2017. The company expects revenue to be in a range of $8.675 to $8.875 billion and GAAP income to be in a range of $0.86 to $0.91 per share.
Executive Editor
Tim Casey joined TriMed Media Group in 2015 as Executive Editor. For the previous four years, he worked as an editor and writer for HMP Communications, primarily focused on covering managed care issues and reporting from medical and health care conferences. He was also a staff reporter at the Sacramento Bee for more than four years covering professional, college and high school sports. He earned his undergraduate degree in psychology from the University of Notre Dame and his MBA degree from Georgetown University.