NATICK, Mass., April 21 /PRNewswire-FirstCall/ -- Boston Scientific
Corporation (NYSE: BSX) today announced financial results for the first
quarter ended March 31, 2008, as well as guidance for net sales and
earnings per share (EPS) for the second quarter of 2008.
First quarter highlights:
-- Achieved net sales of $2.046 billion and adjusted EPS of $0.24
-- Improved earnings through ongoing, stringent expense management
-- Maintained leading position in the worldwide drug-eluting stent (DES)
-- Received approval for six cardiac rhythm management (CRM) products
-- Grew Neuromodulation sales 40 percent
-- Increased Endosurgery sales nine percent
-- Completed the sale of five non-strategic businesses
"We continued to make good progress during the quarter, particularly in our efforts to bring expenses in line with revenues," said Jim Tobin, President and Chief Executive Officer of Boston Scientific. "Our earnings benefited from our ongoing expense management and were also helped by favorable tax items. Despite the arrival of a third DES competitor in the United States, we held our leadership positions in both the U.S. and worldwide markets. Our six CRM product approvals were exciting news, and they will contribute to our future growth in that market. The performance of our Neuromodulation group was impressive, and our Endosurgery group turned in another solid quarter. Our progress furthered our goals of restoring profitable sales growth, increasing shareholder value and strengthening Boston Scientific for the future."
Net sales for the first quarter of 2008 were $2.046 billion, including
sales from divested businesses of $32 million, as compared to $2.086
|SOURCE Boston Scientific Corporation|
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