Interventional device developer Boston Scientific of Natick, MA, has released financial results for its fiscal fourth quarter and 2003.
The firm said sales for the fourth quarter (end-December 31) were $939 million, a 15% increase compared with $814 million for the fourth quarter of 2002. Excluding the favorable impact of $57 million in foreign currency fluctuations, sales were $882 million, an 8% increase compared with the same quarter the previous year, the company said.
Net income for the quarter, including net special charges of $4 million, was $137 million, compared with net income of $105 million in the fourth quarter of 2002.
Net sales for the fiscal year were $3.476 billion, a 19% increase compared with $2.919 billion posted in 2002. Excluding the favorable impact of $162 million in foreign currency fluctuations, sales were $3.314 billion, a 14% increase compared with 2002 sales.
Net income for the year, including net special charges of $49 million, was $472 million, compared with net income of $373 million for the prior year, the company said.
By AuntMinnie.com staff writersFebruary 2, 2004
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