Boston Scientific discloses it booked sales of medical equipment improperly

Article Abstract:

Massachusetts-based Boston Scientific Corp. discovered accounting discrepancies at its Japanese subsidiary after installing new SAP software. Two people at the subsidiary have resigned their executive positions as a result. The discrepancy is in sales dollars that were overstated by about $40 million. The company is checking figures for prior quarters now, too, with possibly another $40 million correction needed. Accounting issues also surround the firm's purchase of Schneider Worldwide from Pfizer in September. Stockholders and analysts are frustrated.

Financial management, Medical Instruments and Supplies, Medical Equipment and Supplies Manufacturing, Medical Instruments & Supplies, Medical equipment, Medical equipment and supplies industry, Medical equipment industry, Boston Scientific Corp.

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Ames to please; discounter rebounds by targeting a clientele below the Wal-Mart set; it cut costs and stocked up to sell to working people, old people and big people; heavy on textured acrylic

Article Abstract:

Ames Department Stores, Inc., had a holiday sales increase of 10% whereas Wal-Mart reported an increase of only 9.4%. Ames seems to understand its niche of people or families with annual incomes below $35,000. This includes retirees who get worn out trying to get around a mega-store, or working parents who need selection, but also need to get in and out fairly quickly. Ames is also on the acquisition trail expanding its reach.

Comment:

CEO keeps his eye on the demographic niche, very modest means

Company Planning/Goals, All Other Specialty Food Stores, Variety stores, Demographics, Discount Stores, Consumer Attitudes, Retail industry, Retail trade, Ames Department Stores Inc., AMES

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Thermo Electron posts results that beat forecasts, says revamping is near done

Article Abstract:

Thermo Electron Corp. reported third-quarter results that beat analysts' estimates. Net income fell 59% to $13.5 million.

Research & Development, Scientific Research and Development Services, High technology industry, Research institutes, Company sales and earnings, Company earnings/profit, Thermo Electron Corp., TMO

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