Boston Scientific Reports Q1 Net Profit of $424 Million, Up 42.28% Year-Over-Year

Zhitong Finance APP learned that on April 24, Boston Scientific (BSX.US) announced its financial report. The announcement showed that the net profit attributable to ordinary shareholders in the first quarter of fiscal year 2019 was $424 million, a year-on-year increase of 42.28%; operating revenue was $2.493 billion, up 4.79% year-on-year, but lower than analysts' expected $2.54 billion.

Boston Scientific CEO Mike Mahoney stated that the growth in the company’s revenue and net profit was driven by its global team structure and diversified product portfolio. However, Mahoney acknowledged that “weakness in certain business segments” led to revenue falling short of analysts’ expectations.

The company also disclosed several key highlights of its first-quarter development projects in its financial report. These achievements include: (1) receiving approval from the U.S. Food and Drug Administration (FDA) for its Lotus Edge transcatheter aortic valve system; (2) reporting results for the Vici Venous Stent System, which demonstrated a primary patency rate of 84% at one year; and (3) presenting the Clear-DVT study, which aims to evaluate whether thrombectomy using the AngioJet ZelanteDVT catheter can reduce the incidence of severe post-thrombotic syndrome in patients with iliofemoral deep vein thrombosis.

Boston Scientific Corporation is expected to report full-year 2019 sales growth of 7% to 8%. The company also projects second-quarter revenue growth of 5% to 7%.

Boston Scientific International Ltd. is a global leader in the manufacture and sale of medical devices. Founded in the late 1960s, the company focuses on developing alternatives to surgical procedures. Its mission is to improve the quality of patient care through the use of less invasive medical devices and procedures.