February 6, 2019

Boston Scientific profited $1.67B in 2018

Photo | Courtesy
Boston Scientific is headquartered in Marlborough.
Michael Mahoney, chariman and CEO, Boston Scientific

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.


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