Boston Scientific of Natick, MA, has released preliminary financial results for its fourth quarter and fiscal year 2002 (end-December 31). For the fourth quarter, the firm had net sales of $814 million, up 20% compared with $677 million reported for the same period last year. Net income for the quarter, including net special charges of $25 million, was $105 million, compared with a reported net income of $65 million in the fourth quarter of 2001.
For the fiscal year, net sales were $2.9 billion, compared with a reported $2.6 billion in 2001, an increase of 9%. Net income for the year, including net special charges of $40 million, was $373 million, compared with a reported net loss of $54 million for the prior year.
In other news, the company has received the European CE Mark for its Taxus paclitaxel-eluting stent system. The product will use the Express2 coronary stent system as its platform, according to the firm. Boston Scientific plans to launch the product next month in Europe and other international markets, and will launch the product in the U.S. later this year.
By AuntMinnie.com staff writersJanuary 22, 2003
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