Summary
Boston Scientific Corporation reported strong financial results for the first quarter of 2018, with net sales increasing by 10.1% to $2.379 billion compared to the prior year period. This growth was driven by solid performance across various business segments, including Endoscopy, Urology and Pelvic Health, and Neuromodulation, with notable operational sales increases. The company also demonstrated improved profitability, with gross profit margin increasing to 71.7% from 69.9% in the prior year, primarily due to manufacturing cost reductions and favorable product mix. Net income rose to $298 million, or $0.21 per diluted share, reflecting operational efficiencies and strategic growth initiatives. Financially, Boston Scientific maintained a healthy liquidity position, with cash and cash equivalents increasing to $1.168 billion. The company also reported positive cash flow from operations of $193 million, a significant improvement from a negative $7 million in the prior year's quarter. Strategic acquisitions in women's health and urology are expected to bolster future growth. Despite ongoing litigation, the company remains focused on innovation and expanding its market presence globally.
Financial Highlights
49 data points| Revenue | $2.38B |
| Cost of Revenue | $672.00M |
| Gross Profit | $1.71B |
| SG&A Expenses | $860.00M |
| Operating Expenses | $1.30B |
| Operating Income | $407.00M |
| Interest Expense | $61.00M |
| Net Income | $298.00M |
| EPS (Basic) | $0.22 |
| EPS (Diluted) | $0.21 |
| Shares Outstanding (Basic) | 1.38B |
| Shares Outstanding (Diluted) | 1.40B |
Key Highlights
- 1Net sales increased 10.1% to $2.379 billion, with operational net sales up 6.2%.
- 2Gross profit margin improved to 71.7% from 69.9% in the prior year's quarter.
- 3Net income was $298 million, or $0.21 per diluted share, an increase from $290 million in the prior year.
- 4Operating income increased to $407 million from $364 million.
- 5Cash provided by operating activities was $193 million, a significant improvement from a $7 million usage in the prior year.
- 6The company announced two strategic acquisitions: NxThera, Inc. for $306 million upfront plus milestones, and nVision Medical Corporation for $150 million upfront plus milestones, both aimed at strengthening its Urology and Pelvic Health business.
- 7Neuromodulation and Electrophysiology segments showed particularly strong operational growth at 17.2% and 11.5% respectively.