Boston Scientific posts Q4 revenue uptick but shows losses for quarter, year

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Boston Scientific reported an increase in overall revenue for its fiscal 2007 fourth quarter (end-Dec. 31, 2007), coupled with net losses for the period and year-end.

The company reported unaudited net sales for its 2007 fourth quarter of $2.152 billion, showing growth in revenue compared with the $2.065 billion in sales recognized for the same quarter last year.

Stent sales demonstrated a strong uptick in international sales, but a 20 percent decrease in U.S. sales for the period. This U.S. downturn was reflected in overall worldwide sales of stent systems, which saw a decrease compared with the fourth quarter of fiscal 2006.

On a positive note, the Natick, Mass.-based firm reported robust sales in its cardiac rhythm management line of $544 million worldwide for the quarter, compared with $489 million worldwide for the same period the prior year.

Boston Scientific posted a net loss for the fiscal 2007 fourth quarter of $458 million, compared with the $258 million in profit which it showed for the same period in fiscal 2006. The company attributed the negative change to acquisition, divestiture, litigation and restructuring-related charges and amortization expenses of $939 million.

For its fiscal 2007 year-end, the company reported sales revenues of $8.357 billion, a positive showing compared with revenues of $7.821 billion for fiscal 2006. The company also posted a sharp decrease in net losses for the year, $495 million, compared with its 2006 net losses of $3.6 billion.