boston scientific corp (BSX) Key Developments
Atossa Genetics Names Scott Youmans as COO
Sep 3 15
Atossa Genetics reported it has appointed Scott Youmans as its chief operating officer effective 1 September 2015. Youmans has served as senior vice president of operations at Atossa Genetics since September 2014. Before joining Atossa Genetics, Youmans led the development of the Precision Olfactory Delivery Device at Impel Neuropharma. Previously, Youmans worked in increasingly responsible roles at Pathway Medical Technologies, including VP of Engineering; a senior engineer and project leader developing novel technology at A-MED Systems; as well as a principal engineer and project leader at Boston Scientific's Northwest Technology Center.
Boston Scientific Announces FDA Approval of Innova™ Vascular Self-Expanding Stent System
Aug 19 15
Boston Scientific Corporation has received Food and Drug Administration (FDA) approval for the Innova Vascular Self-Expanding Stent System, an advanced treatment option for patients with narrowing or blockages in the superficial femoral artery (SFA) or proximal popliteal artery (PPA). This can cause peripheral artery disease (PAD), a circulatory disorder that results from a build-up of plaque in one or more of the arteries, most often in the legs. PAD of the lower extremities can lead to painful ulcers, infections, or amputation of the toes or feet. The company has commenced a full commercial launch of the Innova Stent System in the U.S. The Innova stent platform consists of a Nitinol self-expanding bare metal stent with an advanced delivery system, and is available in a range of sizes, including diameters from 5 mm to 8 mm and lengths of 20 mm to 200 mm. It features a hybrid cell architecture with open-cells along the stent body and closed cells at each end for uniform and accurate deployment. This stent platform serves as the foundation for the new Eluvia Drug-Eluting Vascular Stent, designed specifically for the SFA. The Innova Stent System was designed with an intuitive triaxial delivery system for precise, predictable stent placement and uniform deployment.
Preventice Inc Enters Distribution Deal with Boston Scientific Corp
Aug 4 15
Preventice has landed distribution deal with Boston Scientific Corp. The deal gives Boston Scientific rights to sell Preventice's wireless technology for monitoring cardiac patients.
Boston Scientific Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Reports Intangible Asset Impairment Charges for the Second Quarter Ended June 30, 2015; Provides Earnings Guidance for the Third Quarter Ending September 30, 2015; Revised Earnings Guidance for the Full Year Ending December 31, 2015
Jul 23 15
Boston Scientific Corporation reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, net sales were $1.843 billion against $1.873 billion last year. This represents 6% operational revenue growth (constant currency basis, excluding divested businesses) and a decrease of 2% on a reported basis, all compared to the prior year period. Operating income was $219 million against operating loss of $69 million last year. Income before income taxes was $105 million against loss before income taxes of $104 million last year. Net income was $102 million or $0.08 per basic and diluted share against $4 million last year. Adjusted net income was $294 million or $0.22 per diluted share against $285 million or $0.21 per diluted share last year. Capital expenditures were $46 million in second quarter of 2015 compared to $64 million in second quarter of last year. The decrease is attributable to timing. Adjusted free cash flow for the quarter was $406 million compared to $262 million in second quarter of last year. This increase was primarily due to higher adjusted operating profit, lower capital expenditures and a continued focus on working capital management.
For the six months, net sales were $3.611 billion against $3.647 billion last year. Operating income was $243 million against $128 million last year. Income before income taxes was $54 million against $42 million last year. Net income was $101 million or $0.07 per diluted share against $137 million or $0.10 per basic and diluted share last year. Adjusted net income was $580 million or $0.43 per diluted share against $553 million or $0.41 per diluted share last year.
For the quarter, intangible asset impairment charges was $9 million against $110 million last year.
For the full year ending December 31, 2015, the company now estimates revenue to be in a range of $7.275 billion to $7.375 billion compared to prior guidance of $7.225 billion to $7.375 billion, which versus the prior year period represents change in a range of negative 1% to 0% on a reported basis and a growth range of approximately 4% to 6% on an operational basis. The company now estimates income on a GAAP basis in a range of $0.28 per share to $0.34 per share compared to prior guidance of $0.32 per share to $0.38 per share, and continues to estimate adjusted earnings, excluding intangible asset impairment charges, debt extinguishment charges, acquisition- and divestiture-, litigation-, and restructuring-related net charges, pension termination charges, and amortization expense, in a range of $0.88 per to $0.92 per share. The company expects restructuring-related charges of $0.06 per share and amortization expense of $0.28 per share against previous guidance for restructuring-related charges of $0.08 per share and amortization expense of $0.28 per share. The company expects CapEx to be roughly $260 million for the full year 2015. The company expects full year 2015 adjusted free cash flow to be approximately $1.3 billion. The company expects full year 2015 adjusted tax rate to be in the range of 13% to 15%.
For the third quarter ending September 30, 2015, the company estimates sales in a range of $1.790 billion to $1.840 billion. The company estimates earnings on a GAAP basis in a range of $0.10 per share to $0.13 per share. Adjusted earnings, excluding acquisition- and divestiture- and restructuring-related net charges and amortization expense, are estimated in a range of $0.21 per share to $0.23 per share. The company expects restructuring-related charges of $0.02 per share and amortization expense of $0.07 per share. The company expects adjusted gross margin for the third quarter to be in a range of 71.5% to 72.5%, reflecting the favorable gross margin profile of key new product launches. The company expects adjusted operating margin in the third quarter to be approximately 22.5%, plus or minus 25 basis point.
Boston Scientific Corporation Presents at Minnesota’s InvestMNt Conference, Aug-05-2015 10:55 AM
Jul 23 15
Boston Scientific Corporation Presents at Minnesota’s InvestMNt Conference, Aug-05-2015 10:55 AM. Venue: University of St. Thomas, Minneapolis Campus, 1000 LaSalle Ave, Minneapolis, MN 55403, United States.