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Boston Scientific Corp.’s second-quarter profit jumped up more than 60 percent, following higher-than-expected sales of cardiology products including heart stents and pumps. The company also cut interest and other expenses to $95 million in the second quarter of 2009 from $203 million during the same period the previous year.
The Natick-based manufacturer of medical devices had revenue of $2.07 billion in the second quarter of this year, up slightly from $2.02 billion in the second quarter of 2008. Net income increased to $158 million from $98 million a year earlier.
The company reported a 14 percent jump in worldwide sales of drug-coated heart stents and a 10 percent increase in implantable devices to manage the rhythm of the heart. The company received U.S. approval for two new versions of its Taxus heart stent during the second quarter.
“New products accounted for more than 40 percent of our sales this quarter, and we continue to bring a wide range of innovations to market,” said Ray Elliott, the new chief executive officer of Boston Scientific, in a statement. “We delivered sales and earnings at the high end of our guidance range with almost all businesses and regions reporting solid results.”
The company realized a one-time charge of $30 million associated with a manufacturing restructuring that included an unspecified number of layoffs.
After an initial boost, Boston Scientific’s (NYSE:BSX) shares were down slightly in noon time trading, to $10.17, from the previous close of $10.30.
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