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Boston Scientific Announces Results for Fourth Quarter and Year Ended December 31, 2007

NATICK, Mass., Feb. 4 /PRNewswire-FirstCall/ -- Boston Scientific Corporation (NYSE: BSX) today announced financial results for the fourth quarter and full year ended December 31, 2007, as well as guidance for net sales and earnings per share (EPS) for the first quarter of 2008.

Fourth quarter highlights:

-- Achieved adjusted EPS of $0.24 and record net sales of $2.152 billion,

both exceeding most recently issued guidance

-- Grew cardiac rhythm management (CRM) sales 11 percent

-- Achieved 10 percent overall sales growth in product lines excluding

drug-eluting stents (DES) and CRM

-- Maintained leading position in the worldwide DES market

-- Launched restructuring program to reduce expenses and head count

-- Received CE Mark approvals for the use of the TAXUS(R) Liberte(TM)

stent system in diabetic patients, the CONFIENT(TM) ICD and the


"The turn that began last quarter continued this quarter, with strong adjusted earnings and record sales," said Jim Tobin, President and Chief Executive Officer of Boston Scientific. "For the year, we made substantial progress toward our goals of increasing shareholder value, restoring profitable sales growth and strengthening Boston Scientific for the future. We implemented a series of initiatives designed to focus and simplify our business, including expense and head count reductions and the sale of non- strategic assets. We reported record sales, and we achieved the leadership position in the global stent market. Perhaps our most meaningful progress came in quality, where we revolutionized our approach and changed our culture. Many of the steps we took in 2007 will help position us for the chall

SOURCE Boston Scientific Corporation
Copyright©2008 PR Newswire.
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