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Lower expenses help dialysis firm Baxter International report above-forecast fourth-quarter earnings

The medical products firm saw its earnings rise by 19% to US$243mln, or 44 US cents a share, up from US$205mln, or 37 US cents a share at the same stage a year earlier.
Hospital theatre
Baxter’s net sales rose by 2% to US$2.65bn, also slightly above analyst expectations

Lower expenses helped medical devices group Baxter International Inc. (NYSE:BAX) report an above-forecast rise in fourth-quarter earnings.

The maker of dialysis machines and medical products saw its earnings rise by 19% to US$243mln, or 44 US cents a share, up from US$205mln, or 37 US cents a share at the same stage a year earlier.

On an adjusted basis, Baxter’s earnings rose to 57 US cents a share in the final quarter, above estimates for 52 US cents, and up from 43 US cents a share a year earlier.

The US firm’s net sales rose by 2% to US$2.65bn, also slightly above the $2.64bn analysts had expected.

Baxter said its marketing and administrative expenses for the quarter fell by 10% from a year ago, and research and development expenses decreased by 2%.

For the full-year, the group’s adjusted earnings per share were up 42% to US$1.96.

The company said it expects adjusted earnings per share to be in a range of US$2.10 to US$2.18 in 2017.

José E. Almeida, Baxter’s chairman and chief executive officer said: “We’ll continue to build on this momentum in 2017 and beyond, driven by new product launches, effective portfolio management and further progress on our business transformation initiatives – all in support of delivering sustainable top-quartile results for our shareholders, and advancing our mission to save and sustain lives.”



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Baxter International Timeline

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December 04 2012
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August 25 2011

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