Boston Sci sees Q2 income uptick on strong stent, CRM sales
Boston Scientific has reported positive financial earnings for its fiscal 2009 second quarter, which ended June 30. The Natick, Mass.-based medical device company booked a net income of $158 million this quarter, compared with $98 million in the second quarter of 2008.
Overall, net sales for the second quarter of 2009 were $2.074 billion, compared with net sales of $2.024 billion in the same quarter last year, which included sales from divested businesses of $19 million.
"We delivered sales and earnings at the high end of our guidance range with almost all businesses and regions reporting solid results," said Ray Elliott, the newly appointed president and CEO of Boston Scientific. "The performance of our two largest businesses was particularly impressive, with cardiovascular achieving mid-teens growth in DES [drug-eluting stent] sales and CRM [cardiac rhythm management] recording its fifth consecutive quarter of double-digit growth in the U.S."
The company reported that it increased worldwide sales of CRM products 10 percent--totaling $609 million for the 2009 second quarter--including a 13 percent increase in implantable cardioverter defibrillator (ICD) sales. Specifically, ICD sales totaled $454 million in this quarter, compared with $420 million in last year's second quarter. However, its pacemaker sales slipped slightly to $155 million from $158 million in the year-ago quarter.
For its worldwide coronary stent sales, Boston Scientific booked an increase to $484 million in the 2009 second quarter from $440 million in last year's second quarter. The U.S. market proved stronger than all other international markets, booking $253 million to $231 million, respectively. Also, its DES sales also increased with a 14 percent jump worldwide to $441 million, with a jump in U.S. sales to $238 million in the 2009 second quarter, compared with $175 million in the year-over-year sales. However, the company recorded a drop in bare-metal stents in both its U.S. and internal sales.
The company estimates that its net sales for the 2009 third quarter will be between $2 billion and $2.1 billion.
Overall, net sales for the second quarter of 2009 were $2.074 billion, compared with net sales of $2.024 billion in the same quarter last year, which included sales from divested businesses of $19 million.
"We delivered sales and earnings at the high end of our guidance range with almost all businesses and regions reporting solid results," said Ray Elliott, the newly appointed president and CEO of Boston Scientific. "The performance of our two largest businesses was particularly impressive, with cardiovascular achieving mid-teens growth in DES [drug-eluting stent] sales and CRM [cardiac rhythm management] recording its fifth consecutive quarter of double-digit growth in the U.S."
The company reported that it increased worldwide sales of CRM products 10 percent--totaling $609 million for the 2009 second quarter--including a 13 percent increase in implantable cardioverter defibrillator (ICD) sales. Specifically, ICD sales totaled $454 million in this quarter, compared with $420 million in last year's second quarter. However, its pacemaker sales slipped slightly to $155 million from $158 million in the year-ago quarter.
For its worldwide coronary stent sales, Boston Scientific booked an increase to $484 million in the 2009 second quarter from $440 million in last year's second quarter. The U.S. market proved stronger than all other international markets, booking $253 million to $231 million, respectively. Also, its DES sales also increased with a 14 percent jump worldwide to $441 million, with a jump in U.S. sales to $238 million in the 2009 second quarter, compared with $175 million in the year-over-year sales. However, the company recorded a drop in bare-metal stents in both its U.S. and internal sales.
The company estimates that its net sales for the 2009 third quarter will be between $2 billion and $2.1 billion.