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Boston Scientific's earnings rise YOY for Q4'16

Boston Scientific Corp. reported fourth-quarter 2016 after-tax net income of $124 million, or 9 cents per share, compared with a loss of $142 million, or 11 cents per share, in the year-ago period.

After-tax adjusted net income was $415 million, or 30 cents per share, versus $362 million, or 26 cents per share, in the same period a year ago.

The S&P Capital IQ consensus normalized EPS estimate for the fourth quarter was 29 cents.

Boston Scientific generated sales of $2.19 billion during the fourth quarter, up 11% from $1.98 billion in the prior-year period.

After-tax net income for 2016 was $347 million, or 25 cents per share, compared with a loss of $239 million, or 18 cents per share, in 2015. After-tax adjusted net income was $1.53 billion, or $1.11 per share, versus $1.27 billion, or 93 cents per share, a year ago.

The S&P Capital IQ normalized EPS consensus estimate for 2016 was $1.10.

Boston Scientific expects sales for the first quarter of 2017 in a range of $2.05 billion to $2.10 billion. GAAP EPS for the quarter is expected to be between 18 cents and 21 cents, with adjusted EPS in the range of 29 cents to 31 cents. The S&P Capital IQ consensus normalized EPS estimate for the quarter is 30 cents.

The company estimates revenue for the full year 2017 to be in a range of $8.68 billion to $8.88 billion. GAAP EPS for the year is expected to be between 86 cents and 91 cents, with adjusted EPS in the range of $1.22 to $1.26. The S&P Capital IQ consensus normalized EPS estimate for 2017 is $1.24.