Boston Scientific Loses Heart
Boston Scientific (BSX) reported that sales for the first quarter of 2007 were $2.086 billion as compared to $1.620 billion for the first quarter of 2006. EPS came in at $.08. Analysts surveyed by Thomson Financial estimate earnings per share…
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Boston Scientific (BSX) reported that sales for the first quarter of 2007 were $2.086 billion as compared to $1.620 billion for the first quarter of 2006. EPS came in at $.08.
Analysts surveyed by Thomson Financial estimate earnings per share of 10 cents on revenue of $2.08 billion.
The company’s drug coated stent business is still in the out-house. Worldwide sales of the drug-eluting coronary stent systems for the first quarter of 2007 were $468 million as compared to $633 million for the first quarter of 2006
Guidance was mediocre. BSX estimates net sales for the second quarter of 2007 of between $2.0 billion and $2.1 billion. In addition, EPS on a GAAP basis should be between $0.04 and $0.09 per share.
The shares dropped more than 2% on the news.
Just another bad quarter.
Douglas A. McIntyre
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
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McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.