Boston Scientific Corp. (BSX) on Wednesday reported fourth-quarter profit of $87 million.
On a per-share basis, the Marlborough, Massachusetts-based company said it had net income of 6 cents. Earnings, adjusted for one-time gains and costs, came to 22 cents per share.
Continue Reading Below
The results surpassed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 21 cents per share.
The medical device manufacturer posted revenue of $1.89 billion in the period, falling short of Street forecasts. Analysts expected $1.9 billion, according to Zacks.
For the year, the company reported net income of $267 million, or 20 cents per share, swinging to a profit in the period. Revenue was reported as $7.38 billion.
For the current quarter ending in March, Boston Scientific expects its per-share earnings to range from 19 cents to 21 cents.
The company said it expects revenue in the range of $1.74 billion to $1.8 billion for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $1.83 billion.
Boston Scientific expects full-year earnings in the range of 88 cents to 92 cents per share, with revenue ranging from $7.3 billion to $7.5 billion.
Boston Scientific shares have climbed 11 percent since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. The stock has climbed 13 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap ) using data from Zacks Investment Research. Access a Zacks stock report on BSX at http://www.zacks.com/ap/BSX
Keywords: Boston Scientific, Earnings Report