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MassDevice Earnings Roundup

UPDATE: Boston Scientific to lay off up to 1,300; Q4, 2009 sales rise, losses narrow

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Boston Scientific Corp. (NYSE:BSX) revealed plans to lay off up to 1,300 workers worldwide, even as it announced higher sales and lower net losses for both the fourth quarter and full year 2009.

The Natick, Mass.-based medical devices giant said the layoffs of 1,000 to 1,300 employees — 8 percent to 10 percent of its non-direct labor force* — are part of a larger restructuring effort that will see dramatic changes to its corporate structure and management and a program of divestitures and acquisitions designed to “further rationalize and refocus its business portfolio.”

BioSphere’s Q4 sales spike 15 percent on liver cancer treatment

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BioSphere Medical Inc. (NSDQ:BSMD) managed to cut its losses in half during 2009, ending the year with a 7 percent sales increase.

The Rockland, Mass.-based microsphere maker reported a net loss of $293,000 on $8.4 million in sales during the three months ended Dec. 31, 2009, compared to a $1.7 million loss on $7.2 million in sales for the same period in 2008.

NMT Medical’s preliminary Q4 sales slip 18 percent

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NMT Medical Inc. (NSDQ:NMTI) released preliminary sales figures for its fourth quarter and full year, saying it expects Q4 sales to be down 18.2 percent compared with the same period last year but full-year sales to meet its prior guidance.

The Boston-based cardiac implant maker said it expects to post sales of about $3.6 million for the three months ended Dec. 31, 2009, compared with $4.4 million during the same period in 2008. Full-year sales are expected to be roughly $13.2 million, within its previous forecast of $13 million to $14 million but down 26.3 percent compared with the $17.9 million NMT posted during 2008.

BlackRock sheds a portion of its Barclay’s stake in Boston Scientific

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BlackRock Inc. (NYSE:BLK) shed some 760,000 shares of its stake in Boston Scientific Corp. (NYSE:BSX) a day before the medical device giant is set to release its annual earnings report to Wall Street.

BlackRock, which controls more than $3.2 trillion in assets, assumed a stake in Natick, Mass.-based Boston Scientific following its purchase of Barclay’s Global Investors last December.

According to stock ownership forms filed with the federal Securities & Exchange Commission, BlackRock owned some 76 million shares of BSX stock after the Barclay’s buyout, good for a 5.2 percent piece of BSX, making it the firms fourth-largest shareholder.

CareFusion’s Q2 sales rise, profits fall

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CareFusion Corp. (NYSE:CFN) posted second-quarter sales of $1.02 billion for the three months ended Dec. 31, 2009, up 5.2 percent compared with $969 million during the same period in fiscal 2009. Net income fell 62.8 percent to $70 million, compared with $188 million during Q2 2009:

Press Release

CareFusion Reports Second Quarter Results

 

— Revenue increased 5 percent to $1 billion, or 2 percent on a constant currency basis

— GAAP diluted earnings per share (EPS) from continuing operations of $0.33, or $0.39 on an adjusted basis

Insulet beats Q4, full-year expectations

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Insulet Corp. (NSDQ:PODD) continued down the road to profitability, increasing its fourth-quarter and full-year revenues and narrowing its net losses by 48.9 percent and 16.1 percent, respectively.

The Bedford, Mass.-based insulin management system maker posted a net loss of $14.9 million, or 42 cents per share, on sales of $20.2 million during the three months ended Dec. 31, 2009, compared with net losses of $29.2 million, or $1.05 per share, on sales of $11.9 million during the fourth quarter of 2008.

RTI Biologics swings to Q4 black

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RTI Biologics Inc. (NSDQ:RTIX) posted fourth-quarter sales of $42 million for the three months ended Dec. 31, 2009, up 12 percent compared with $37.4 million during the same period in 2008. Net income was $1.5 million, compared with a net loss of $102.5 million during Q4 2008:

Press Release

RTI Announces 2009 Year End, Fourth Quarter Results, Estimates 2010 Revenues And EPS

Mediware nearly triples Q2 profits

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Mediware Information Systems Inc. (NSDQ:MEDW) posted second-quarter sales of $10.8 million for the three months ended Dec. 31, 2009, up 8 percent compared with $10 million during the same period in fiscal 2009. Net income rose 158.4 percent to $783,000, compared with $303,000 during Q2 2009:

Press Release

Mediware Continues Trend with Sixth Quarter of Revenue and Earnings Growth

Company more than doubles year-over-year EPS, extends quarterly growth trend and adds two acquisitions during second quarter

SeraCare swings to Q1 profits

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SeraCare Life Sciences Inc. (NSDQ:SRLS) posted strong first-quarter sales and earnings results, swinging back into the black after posting quarterly losses last year.

The Milford, Mass.-based life sciences service provider posted sales of $11.3 million for the three months ended Dec. 31, 2009, up 21.4 percent compared with $9.3 million during the same period in fiscal 2009. SeraCare reported net income of $1.3 million, or 7 cents per share, for the quarter, compared with net losses of $16.9 million, or 91 cents per share, during Q1 2009.

Cynosure wins patent case, posts wider Q4 sales decline and net losses

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Cynosure Inc. (NSDQ:CYNO) announced mixed news today, saying it won a patent infringement lawsuit against a competitor but posting a 25 percent fourth-quarter sales slide and soaring net losses.

The Westford, Mass.-based cosmetic device maker reported fourth-quarter sales of $19 million for the three months ended Dec. 31, 2009, down 24 percent percent compared to $25 million during the same period in 2008. Fourth-quarter net losses widened 481.5 percent to $14.5 million, or $1.14 per diluted share, compared with $2.5 million, or 20 cents per diluted share, during Q4 2008.