Boston Scientific (BSX) Prelim. Q4 Sales Top Views

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January 9, 2018 6:33 AM EST

Boston Scientific Corporation (NYSE: BSX) generated sales, based upon preliminary unaudited financial information, of approximately $2.41 billion during the fourth quarter ended December 31, 2017. This represents growth of approximately 9.9 percent on a reported basis, approximately 8.1 percent on an operational basis (excludes the impact of changes in foreign currency exchange rates) and approximately 6.8 percent on an organic basis, all compared to the prior year period. Organic revenue growth excludes the impact of changes in foreign currency exchange rates and sales from the acquisitions of EndoChoice Holdings, Inc. (EndoChoice) and Symetis SA (Symetis), with no prior year comparable sales.

(Street sees Q4 sales of $2.35 billion)

For the year ended December 31, 2017, the Company generated sales, based upon preliminary unaudited financial information, of approximately $9.05 billion. This represents growth of approximately 7.9 percent on a reported basis, approximately 7.8 percent on an operational basis and approximately 6.6 percent on an organic basis, all compared to the prior year period.

Preliminary net sales for the fourth quarter:

Three Months Ended

Change

(in billions / unaudited)

December 31,

As Reported Basis

Less: Impact of Foreign Currency

Operational Basis

2017

2016

Interventional Cardiology

$

0.64

$

0.58

8.8

%

1.9

%

6.9

%

Peripheral Interventions

0.28

0.26

8.4

%

1.7

%

6.7

%

Cardiovascular

0.91

0.84

8.7

%

1.9

%

6.8

%

Cardiac Rhythm Management

0.49

0.47

3.4

%

2.2

%

1.2

%

Electrophysiology

0.08

0.06

20.7

%

3.0

%

17.7

%

Rhythm Management

0.56

0.54

5.4

%

2.2

%

3.2

%

Endoscopy

0.44

0.38

14.8

%

1.7

%

13.1

%

Urology and Pelvic Health

0.31

0.27

12.7

%

1.4

%

11.3

%

Neuromodulation

0.19

0.16

15.5

%

0.9

%

14.6

%

MedSurg

0.93

0.82

14.2

%

1.4

%

12.8

%

Net Sales

$

2.41

$

2.19

9.9

%

1.8

%

8.1

%

Preliminary net sales as shown are rounded, while growth rates are based on preliminary, non-rounded amounts and may not recalculate precisely. Certain columns and rows within the table above may not add due to the use of rounded numbers.

Sales growth rates that exclude the impact of changes in foreign currency exchange rates and/or the impact of recent acquisitions with significant sales are not prepared in accordance with U.S. GAAP.

Preliminary net sales for the full year:

Twelve Months Ended

Change

(in billions / unaudited)

December 31,

As Reported Basis

Less: Impact of Foreign Currency

Operational Basis

2017

2016

Interventional Cardiology

$

2.42

$

2.28

6.2

%

0.1

%

6.1

%

Peripheral Interventions

1.08

1.01

6.5

%

(0.1)

%

6.6

%

Cardiovascular

3.50

3.29

6.3

%

0.0

%

6.3

%

Cardiac Rhythm Management

1.90

1.85

2.5

%

0.2

%

2.3

%

Electrophysiology

0.28

0.24

14.5

%

0.1

%

14.4

%

Rhythm Management

2.17

2.09

3.9

%

0.2

%

3.7

%

Endoscopy

1.62

1.44

12.4

%

0.1

%

12.3

%

Urology and Pelvic Health

1.12

1.01

11.8

%

0.2

%

11.6

%

Neuromodulation

0.64

0.56

14.2

%

0.1

%

14.1

%

MedSurg

3.38

3.00

12.5

%

0.1

%

12.4

%

Net Sales

$

9.05

$

8.39

7.9

%

0.1

%

7.8

%

Preliminary net sales as shown are rounded, while growth rates are based on preliminary, non-rounded amounts and may not recalculate precisely. Certain columns and rows within the table above may not add due to the use of rounded numbers.

Sales growth rates that exclude the impact of changes in foreign currency exchange rates and/or the impact of recent acquisitions with significant sales are not prepared in accordance with U.S. GAAP.

All of the information in this press release is preliminary and subject to completion of year end financial reporting processes, reviews and audit.

J.P. Morgan Healthcare Conference on Tuesday, January 9, 2018As previously announced, Boston Scientific will participate in the J.P. Morgan Healthcare Conference today in San Francisco, CA. Mike Mahoney, chairman and chief executive officer, will present at approximately 8:00 a.m. PT. At 8:30 a.m. PT, Mike will be joined by Dan Brennan, executive vice president and chief financial officer, Professor Ian Meredith, executive vice president and global chief medical officer, and Susie Lisa, vice president, Investor Relations, in a question-and-answer session with the host analyst and audience members.

A live webcast of the presentation and question-and-answer session will be available on the Investor Relations section of the Boston Scientific website at investors.bostonscientific.com. A replay of the webcast will be accessible at investors.bostonscientific.com beginning approximately one hour following the completion of the event.

Conference Call on Thursday, February 1, 2018As previously announced, Boston Scientific will webcast its conference call discussing financial results and business highlights for the fourth quarter ended December 31, 2017 and provide first quarter and full year 2018 guidance on Thursday, February 1, 2018 at 8:00 a.m. EST. A live webcast of the conference call will be available on the Investor Relations section of the website at investors.bostonscientific.com. A replay of the webcast will be archived and available at investors.bostonscientific.com beginning approximately one hour following the completion of the meeting.


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