Profit Climbs at Boston Scientific - TheStreet

Profit Climbs at Boston Scientific

The company's second-quarter sales rise 21%.
Author:
Publish date:

Medical-device maker

Boston Scientific

(BSX) - Get Report

reported a 21% increase in second-quarter sales and said earnings also rose significantly from a year ago.

The company said Tuesday that sales for the second quarter totaled $854 million, up from $708 million a year ago. Excluding the favorable effect of currency-exchange rates, sales would have been $814 million, an increase of 15%.

Boston Scientific earned $114 million, or 27 cents a share, in the quarter, up from $25 million, or 6 cents a share, last year. Excluding items, the company had a profit of $126 million, or 30 cents a share, vs. $95 million, or 23 cents a share, in the second quarter of 2002.

Analysts polled by Thomson First Call were looking for earnings of 30 cents in the second quarter and sales of $852.5 million.

Shares of Boston Scientific closed

New York Stock Exchange

trading at $57.75.