Boston Scientific shares gain on Wall-Street-beating results for the 4th quarter and 2012 as the medical device company announces plans to lay off up to 1,000 workers worldwide.
Shares of Boston Scientific (NYSE:BSX) stock are up nearly 5% this morning after the medical device company announced 4th-quarter and 202 results that beat Wall Street's expectations and revealed another round of layoffs.
Marlborough, Mass.-based Boston Scientific posted 4th-quarter profits of $60 million, or 4¢ per share, on sales of $1.82 billion for the 3 months ended Dec. 31, 2012, representing a bottom-line slide of 43.9% and a sales decrease of 1.5% compared with the same period in 2011.
For full-year 2012, the company reported losses of $4.07 billion, or $2.89 per share, on sales of $7.25 billion. That's a top-line slide of 4.9%.