Boston Scientific posts final 2003 results

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 writers
February 2, 2004

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