Boston Scientific (NYSE:BSX) beat expectations on Wall Street with its 4th-quarter and full-year earnings but missed the sales mark by just $12 million.
Fourth-quarter losses were down -52.5% to -$142 million for the Marlborough, Mass.-based medical device giant, for losses per share of -11¢, on sales growth of 4.8% to $1.98 billion.
Adjusted to exclude 1-time items, earnings per share were 26¢, a penny ahead of expectations on Wall Street, where analysts were looking for sales of $1.99 billion.
Losses doubled for the the full year, rising to -$239 million, or -18¢ per share, on sales growth of 1.3% to $7.48 billion. Adjusted EPS came in at 93¢, again a penny ahead of The Street but $13 million shy of the $7.49 billion consensus sales expectation.
“Our accomplishments in 2015 demonstrate our continued momentum and track record of consistent performance across our businesses and geographies,” president & CEO Mike Mahoney said in prepared remarks. “The products and programs we brought to market through organic development and acquisitions, complemented by our innovative pipeline and continued global expansion, will benefit even more patients in 2016 and beyond.”
Boston Scientific said it expects to post Q1 adjusted EPS of 23¢ to 25¢ on sales of $1.89 billion to $1.94 billion
Full-year adjusted 2016 EPS are pegged at $1.03 to $1.07 on sales growth of 6% to 8% to between $7.90 billion and $8.10 billion.