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BOSTON SCIENTIFIC CORPORATION REPORTS INCREASED SALES AND EARNINGS FOR SECOND QUARTER

 WATERTOWN, Mass., July 27 /PRNewswire/ -- Boston Scientific Corporation (NYSE: BSX) today released financial results for its second quarter ended June 30, 1993.
 Net sales for the second quarter increased 24 percent to $94,436,000 from the previous year's $76,327,000. Net earnings for the quarter increased 26 percent to $16,771,000, or 17 cents per share, compared to the $13,305,000, or 14 cents per share, in the previous year.
 Net sales for the first half of 1993 increased to $183,376,000 compared to $148,951,000 for the same period last year. Net earnings for the first half increased top $32,049,00, or 32 per share, compared to $25,840,000 or 27 cents per share for the previous year.
 Pete Nicholas, co-chairman and chief executive officer, said, "Business conditions during the second quarter reflected the belt- tightening that has been taking place in the United States as a result of uncertainty about the size and shape of health care reform. Results were also impacted by continued delays by the FDA in new product approvals. Additionally, weakness in the European markets contributed to a disappointing growth rate in our international business.
 "While revenues were below our plan, we achieved record unit sales in each of our primary markets, and 1993 should be another year of solid growth for Boston Scientific."
 Boston Scientific is a worldwide developer, manufacturer and marketer of medical devices. The company's products are used in a broad range of interventional medical specialties including cardiology,


surgery.
 BOSTON SCIENTIFIC CORPORATION
 CONSOLIDATED STATEMENTS OF INCOME
 (unaudited)
 (in thousands, except share and per share data)
 Quarter Ended Six Months Ended
 June 30, June 30,
 1993 1992 1993 1992
 Net sales $94,436 $76,327 $183,376 $148,951
 Cost of products
 sold 34,330 28,260 67,924 54,886
 Gross profit 60,106 48,067 115,452 94,065
 Selling, general and
 administrative
 expenses 27,555 21,710 53,320 42,771
 Research and
 development expenses 6,305 4,392 12,289 8,201
 33,860 26,102 65,609 50,972
 Income from
 operations 26,246 21,965 49,843 43,093
 Other income (expense):
 Interest and divided
 income 1,068 414 2,280 607
 Interest expense (536) (801) (1,219) (1,503)
 Other (209) (221) (341) (232)
 Income before income
 taxes 26,569 21,357 50,563 41,965
 Income taxes 9,798 8,052 18,514 16,125
 Net income $16,771 $13,305 $32,049 $25,840
 Net income per
 common share 17 cents 14 cents 32 cents 27 cents
 Weighted average
 number of
 common shares 100,255,575 97,182,970 101,131,194 95,665,772
 -0- 7/27/93
 /CONTACT: Larry Best of Boston Scientific Corporation, 617-972-4450/
 (BSX)


CO: Boston Scientific Corporation ST: Massachusetts IN: MTC SU: ERN

DD -- NE012 -- 6394 07/27/93 16:11 EDT
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Publication:PR Newswire
Date:Jul 27, 1993
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