01—Abstract
Summary
Summary of the 10-K/A filed February 26, 2013. Cited figures are marked; the original filing is the authoritative source.
Boston Scientific Corporation's (BSX) 2012 annual report (filed February 2013) highlights a company navigating both challenges and opportunities in the medical device sector.
While specific financial performance details beyond the filing date are not provided in this excerpt, the report's emphasis on its business segments suggests a strategic focus on key growth areas. Investors should note the company's ongoing commitment to innovation and market expansion as drivers for future performance. The inclusion of the Consent of Independent Registered Public Accounting Firm, Ernst & Young LLP, indicates that the financial statements have undergone external audit, a standard practice for investor confidence.
02—Key points
Key Highlights
- The filing is an amendment to the Annual Report (10-K) for the period ending December 30, 2012, filed on February 25, 2013.
- Exhibit 23 confirms the Consent of Independent Registered Public Accounting Firm, Ernst & Young LLP, signifying an audited financial statement.
- The report includes Exhibit 31.1, likely related to certifications required by SEC regulations.
- The document focuses on Part IV, Item 15: Exhibits and Financial Statement Schedules, suggesting that detailed financial performance data and operational specifics are contained within other sections of the full 10-K filing.
- While this excerpt is limited, it points to the standard disclosure and audit practices expected from a publicly traded company like Boston Scientific.
- Investors can infer a continued operational status and compliance with regulatory reporting requirements.
03—One dollar
Follow one dollar
For each $1.00 of revenue in FY2012, Boston Scientific Corp lost $0.56.
- Revenue$7.25B100.0%
- Cost of revenue−$2.35B32.4%
- Gross profit$4.90B67.6%
- Operating costs−$8.77B121.0%
- Operating income−$3.87B53.4%
- Interest, other & tax−$200.0M2.8%
- Net income−$4.07B56.1%
04—Financials
Financial Highlights
Figures from 10-K/AFY2012filed February 26, 2013Financial Statements
FY2012 against FY2011
| Line item | FY2012FY2011 | Change |
|---|---|---|
| Revenue | $7.25B$7.62B | −4.9% |
| Cost of Revenue | $2.35B$2.66B | −11.7% |
| Gross Profit | $4.90B$4.96B | −1.3% |
| SG&A Expenses | $2.54B$2.49B | +1.9% |
| Operating Expenses | $8.77B$4.06B | +116.0% |
| Operating Income | -$3.87B$904.00M | −527.9% |
| Interest Expense | $261.00M$281.00M | −7.1% |
| Net Income | -$4.07B$441.00M | −1022.4% |
| EPS (Basic) | $-2.89$0.29 | −1096.6% |
| EPS (Diluted) | $-2.89$0.29 | −1096.6% |
| Shares Outstanding (Basic) | 1.41B1.51B | −6.8% |
| Shares Outstanding (Diluted) | 1.41B1.52B | −7.4% |
05—Questions
Frequently Asked Questions
What is the primary purpose of this filing?
This filing is an amendment to Boston Scientific's 2012 Annual Report (10-K), specifically detailing Exhibits and Financial Statement Schedules (Item 15). It ensures the company's disclosures meet regulatory requirements.
Does this filing provide detailed financial performance figures for 2012?
This particular excerpt (Item 15) primarily lists exhibits and schedules. The full 10-K filing would contain the detailed financial statements and management's discussion and analysis for a comprehensive view of 2012 performance.
What is the significance of the 'Consent of Independent Registered Public Accounting Firm'?
This exhibit indicates that Boston Scientific's financial statements for the period have been audited by Ernst & Young LLP, a reputable accounting firm. This provides an independent assurance of the accuracy and reliability of the reported financial information to investors.
What can investors learn from Exhibit 31.1?
Exhibit 31.1 typically refers to a CEO/CFO certification of financial reports, as mandated by the Sarbanes-Oxley Act. It attests to the accuracy of the financial statements and disclosures, reinforcing corporate governance.
06—Continue