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Boston Scientific Q4 net sales dip

Boston Scientific has reported net sales of $2bn for the fourth quarter ended 31 December 2010, a decrease of 4%, compared to $2.07bn for the same period in 2009.

For the fourth quarter of 2010, the company posted a net income of $236m, or $0.15 per diluted share, compared to a net loss of $1.07bn, or $0.71 per diluted share, for the same period in 2009.

Boston Scientific‘s operating income for the fourth quarter of 2010 was $349m, compared to an operating loss of $1.23bn for the same period in 2009.

For the full-year ended 31 December 2010, the company posted a net loss of $1.06bn, compared to $1.02bn.

The company’s operating loss was $656m, compared to $894m in the same period of 2009.

Boston Scientific president and CEO Ray Elliott said they have made significant progress in the strategy to realign their portfolio through the execution of the priority growth initiatives, with four targeted acquisitions and a divestiture.

"These acquisitions add promising new technologies to our portfolio and bolster our internal pipeline, which we expect will deliver more than 150 new products through 2015. Proceeds from the divestiture of our neurovascular business provide us with increased flexibility to fund acquisitions and pay down debt," Elliott said.