Boston Scientific Issues Prelim. Q1 Revenue Estimates - Quick Facts

(RTTNews) - Boston Scientific Corp. (BSX) said business trends through the first two months of the fiscal year were in line with company expectations. Due to the impact from COVID-19, the company now expects first quarter revenue growth on a GAAP basis to be approximately flat to up slightly versus the prior year period, and an organic revenue decline of approximately two to three percent.

Boston Scientific is also taking steps to reduce costs which include optimizing appropriate variable costs, significantly reducing the salaries of its CEO, board of directors and executive committee members, and temporarily reducing work week schedules for employees.