Boston Scientific posts strong Q1

Interventional device developer Boston Scientific of Natick, MA, has released financial results for its 2005 fiscal first quarter (end-March 31).

For the period, the firm had net sales of $1.6 billion, up 49% compared with $1.1 billion reported for the first quarter of 2004. Excluding the favorable impact of $26 million in foreign currency fluctuations, net sales were $1.59 billion, an increase of 47%, according to the company.

Reported net income for the quarter, including net special charges of $73 million, rose to $358 million, compared with reported net income of $194 million for the same period last year. The net special charges for the quarter consisted of purchased in-process research and development costs related to the acquisition of Advanced Stent Technologies, Boston Scientific said.

By staff writers
April 20, 2005

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Copyright © 2005

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