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Boston Scientific saw 5% revenue growth at end of 2013

Wed, 02/05/2014 - 2:00pm
Mass High Tech: The Journal of New England Technology

Delivering his first annual report after a full year as head of the state’s largest medical device company, CEO Mike Mahoney reported that the last three months of 2013 saw revenues rise 5 percent over the previous year, providing what he called “momentum” going into 2014.

Overall, the company’s revenues for the entire year fell 1 percent from 2012 levels to $7.14 billion, which was better than what analysts expected. In the fourth quarter, the Natick, Mass., medical device company had revenues of $1.84 billion, contributing to a net income of $108 million, up 80 percent from the previous year.

“For 2013, we committed to turn around our performance and return to positive growth and we've achieved that goal early by posting 2 percent operational growth in second quarter and then improving upon that with a 4 percent growth rate in third quarter and now 5 percent in the fourth quarter,” said Mahoney on a conference call with analysts Tuesday.

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