Boston Scientific Q4 Profit, Revenue Beat Estimates; Provides Q1 Outlook Above View

(RTTNews) - Boston Scientific Corporation (BSX), a medical technology company, Wednesday reported net income of $566 million or $0.38 per share for the fourth quarter, higher than $504 million or $0.34 per share in the same quarter a year ago, primarily helped by growth in revenue in all segments.

Excluding one-time items, earnings were $1.043 billion or $0.70 per share, that beat the analysts' average estimate of $0.66 per share. Analysts' estimates typically exclude special items.

Operating income rose to $675 million from $584 million last year.

Sales for the quarter grew 22.4 percent to $4.561 billion from $3.725 billion in the previous year. The consensus estimate was for $4.42 billion.

Sales in MedSurg increased 12.4 percent to $1.619 billion , and in Cardiovascular sales rose 28.8 percent to $2.942 billion.

For the first quarter, the company expects sales to grow about 17 percent - 19 percent. On an organic basis, sales growth is expected between 14 percent and 16 percent.

EPS for the first quarter is expected in the range of $0.43 - $0.45 and adjusted EPS to be in the range of $0.66 - $0.68.

Analysts expect the company to report earnings of $0.65 per share on revenue growth of 15.44 percent for the quarter.

For the full year, Boston Scientific sees revenue growth of about 12.5 percent - 14.5 percent on a reported basis, and nearly 10 percent - 12 percent on an organic basis.

The company also expects EPS for the year to be in a range of $1.86 - $1.93 and adjusted EPS of $2.80 - $2.87.

The Street is looking for profit of $2.81 per share with revenue growth of 13.18 percent for the year.