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Boston Scientific profited $1.67B in 2018

BY Zachary Comeau

2/6/2019
Photo | Courtesy
Photo | Courtesy
Boston Scientific is headquartered in Marlborough.

Marlborough medical device company Boston Scientific had more than $9.8 billion in sales in 2018, good for an 8.6-percent increase from 2017.
The company reported a huge bump in profit from the year prior with $1.67 billion compared to $104 million in 2017.
The big year was helped along by a strong fourth quarter with the company’s revenue of $2.56 billion, an increase of 6.3 percent. Profit in the quarter was similarly strong at $386 million, compared to net loss of $615 million last year due to a shift in tax laws.
On a per share basis, Boston Scientific reported full year earnings of $1.19 per share compared to $0.08 in 2017.
The company said its business increased in all regions, but it grew the most in Europe, the Middle East and Africa, by 12.2 percent.
The company is already expecting a big 2019 as it looks for revenue increases of between 7 to 9 percent.
In a statement, Chairman and CEO Mike Mahoney said meaningful innovation and focused execution led to the strong year.
"We remain driven by the opportunity to help more patients with our life-changing technologies, including a robust long-term pipeline of new devices and therapies,” Mahoney said.
As of 11 a.m. Wednesday, the company’s stock was trading up about 2.6 percent to $38.74 per share.