Boston Scientific Corporation Announces Results For Fourth Quarter And Full Year Ended December 31, 2014

MARLBOROUGH, Mass., Feb. 4, 2015 /PRNewswire/ -- Boston Scientific Corporation (NYSE: BSX) generated sales of $1.887 billion during the fourth quarter ended December 31, 2014, compared to the company's guidance range for the quarter of $1.875 to $1.925 billion.  This represents 7 percent operational revenue growth (constant currency basis, excluding divested businesses) and 3 percent revenue growth on a reported basis, all compared to the prior year period.  The company achieved adjusted earnings per share of $0.22 for the period, compared to $0.21 a year ago, which represents 5 percent growth, and GAAP earnings declined 19 percent to $0.06 per share, compared to $0.08 a year ago.*

For the year ended December 31, 2014, the company achieved full year sales of $7.380 billion, representing 6 percent operational revenue growth and 3 percent revenue growth on a reported basis. The company delivered full year adjusted EPS of $0.84, compared to $0.73 in 2013, which represents 15 percent growth, and reported a GAAP earnings of $0.20 per share, compared to a GAAP loss of ($0.09) in the prior year period.*

"2014 was another year of significant achievement for Boston Scientific," said Mike Mahoney, president and chief executive officer, Boston Scientific Corporation.  "We strengthened our core businesses and invested in new technologies and global markets, which contributed to excellent results across our businesses and regions. Additionally, we expanded our operating margins and delivered double digit adjusted EPS growth. We look forward to the year ahead and bringing more innovative medical technologies and solutions to patients, physicians and hospitals."

Fourth quarter financial results and recent developments*:

  • Achieved fourth quarter sales of $1.887 billion, representing 7 percent operational revenue growth and 3 percent revenue growth on a reported basis, all compared to the prior year period.
  • Delivered fourth quarter adjusted earnings per share of $0.22, which represents 5 percent growth compared to the prior year period, and compared to the company's guidance range of $0.20 to $0.22 per share.  Delivered fourth quarter GAAP income of $0.06 per share compared to the company's guidance range of $0.09 to $0.11 per share.
  • Delivered fourth quarter revenue growth of 10 percent in Cardiovascular, 5 percent in Rhythm Management, and 4 percent in MedSurg, all on a constant currency basis over the prior year period.
  • Interventional Cardiology grew 10 percent on a constant currency basis driven by continued leadership in the U.S. of the Promus PREMIER Stent system and solid share gains in Japan.
  • Urology and Women's Health grew 9 percent on a constant currency basis driven by strong results internationally due primarily to new product registrations and targeted commercial investments.
  • Achieved fourth quarter International constant currency revenue growth of 8 percent over the prior year period, primarily driven by 10 percent growth in Europe.
  • Delivered 17 percent growth in the Emerging Markets, on a constant currency basis over the prior year period.  Emerging Markets revenue represented 10 percent of total company sales for the full year, compared to 9 percent in 2013, all on a constant currency basis.
  • Generated strong operating cash flow of $439 million in the fourth quarter and $1.269 billion for the full year 2014.
  • Exceeded $100 million revenue goal for the subcutaneous implantable defibrillator (S-ICD System), which received favorable coding and payment designations that went into effect January 1, 2015.
  • Presented data from the EVOLVE clinical program demonstrating that the SYNERGY Bioabsorbable Polymer Stent met key performance endpoints.**
  • Presented data from the PRO study demonstrating long-term, low back pain relief with the Precision Spectra Spinal Cord Stimulator System.
  • Completed the first U.S. implant of the Extended Longevity (EL) implantable cardioverter defibrillators, including DYNAGEN EL and INOGEN EL device models which feature EnduraLife battery technology, designed to last nearly 12 years.+
  • Completed the first U.S. procedures with the Symphion System, indicated for the hysteroscopic removal of intrauterine fibroids and polyps.

* Growth rates are based on actual, non-rounded amounts and may not recalculate precisely. 
** Limited by Federal (or US) law to investigational use only. 

To read full press release, please click here.

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