Boston Scientific Tops Views

The medical company records a first-quarter profit and higher sales.

Author:: Michael Dunn
Publish date:: Apr 17, 2002 8:25 AM EDT

Boston Scientific

posted a first-quarter profit ahead of analyst estimates on higher sales.

The medical device maker and marketer reported a pro forma net income of $89 million, or 22 cents a share, on net sales of $675 million. In the year-ago quarter, the company earned $83 million, or 21 cents a share, on sales of $654 million.

According to Thomson Financial/First Call, Wall Street analysts were expecting the company to earn 20 cents a share in the first quarter.

Including special charges, the company earned $82 million, or 20 cents a share, reversing last year's loss of $5 million, or 1 cent a share. Both year's results include charges associated with the company's global operations plan and its accompanying acquisitions.

In a press release, the company said it saw double-digit growth in all divisions and regions, but it offered no further guidance.

Shares of Boston Scientific closed at $26.02 Tuesday before the news.