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Boston Scientific Announces Results For Second Quarter Ended June 30, 2013
Date:7/25/2013

NATICK, Mass., July 25, 2013 /PRNewswire/ -- Boston Scientific Corporation (NYSE: BSX) generated sales of $1.809 billion and adjusted earnings per share of $0.18 for the second quarter ended June 30, 2013.  The company reported GAAP earnings of $0.10 per share.

Second quarter results and recent developments:

  • Exceeded high end of the guidance range with sales of $1.809 billion -- a year-over-year decline of 1 percent on a reported basis and operational growth of 2 percent (constant currency basis, excluding divested businesses). 
  • Delivered adjusted EPS of $0.18, exceeding the company's adjusted EPS guidance range of $0.14 to $0.17.
  • Achieved global year-over-year revenue growth of 21 percent in Neuromodulation on the strength of the Precision Spectra™ Spinal Cord Stimulator (SCS) System launch, 8 percent in Endoscopy and 5 percent in Peripheral Interventions, all on a constant currency basis.
  • Continued global expansion with combined year-over-year growth of 29 percent in Brazil, Russia, India and China, all on a constant currency basis.
  • Reported positive clinical data related to the Vessix Renal Denervation System, WATCHMAN® Left Atrial Appendage Closure Device, Lotus Aortic Valve System and Vercise Deep Brain Stimulation System - technologies the company believes will help drive growth.
  • Entered into a definitive agreement to acquire the electrophysiology (EP) business of C.R. Bard, Inc., for $275 million in cash. 
  • Generated operating cash flow of $396 million and used $100 million to repurchase approximately 12.5 million shares under the company's existing share repurchase authorizations.
  • "We are pleased with our improved performance during the quarter," said Mike Mahoney, president and chief executive officer, B
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