Finally, a Boston Scientific earnings report investors can get excited about
After years of struggling with declining revenue, Boston Scientific Corp. posted second-quarter financial results Thursday that suggested it is finally poised for a return to sales growth.
While overall revenues edged down 1 percent to $1.8 billion for the Natick medical device maker in the three months ending June 30, higher sales in its Marlborough-based endoscopy division as well as its neuromodulation business unit point to a sales rebound, executives said. Boston Scientific’s earnings of $130 million, or 10 cents a share, also beat projections.
“Now we feel we’re really positioned to continue to grow,” Boston Scientific chief executive Michael F. Mahoney said in an interview. “Overall, our market is relatively flat, but we want to grow faster than the market. “We’re seeing good results from demographics, the aging (US) population and emerging markets driving our growth. That’s offset by pricing pressures.”
Boston Scientific investors, who have not received much good news in recent years, responded with enthusiasm to the strong quarterly results. The company’s shares had advanced 9.2 percent by 1:30 p.m. Thursday to $10.50 on the New York Stock Exchange.
Mahoney also said the company continues to expand its product portfolio. On Wednesday, it received Food and Drug Administration clearance to sell a three-dimensional Rhythmia Mapping System used in cardiac catheter ablations and other procedures, as well as an OptiCross Coronary Imaging Catheter used for ultrasounds.Robert Weisman can be reached at email@example.com. Follow him on Twitter @GlobeRobW.