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UPDATE 1-Baxter reports higher profit, cuts top end of earnings forecast
2012年10月18日 / 下午12点52分 / 5 年前

UPDATE 1-Baxter reports higher profit, cuts top end of earnings forecast

* Third-quarter revenue $3.48 bln vs est $3.52 bln

* Expects full-year profit $4.51-$4.54/share vs prior view $4.49-$4.57

Oct 18 (Reuters) - Medical device and bioscience company Baxter International Inc reported a rise in quarterly earnings, helped by strong demand in its bioscience business.

Third-quarter net income rose to $583 million, or $1.06 per share, from $576 million, or $1.01 per share, a year earlier.

The maker of blood therapy products, medication infusion pumps and dialysis equipment earned $1.14 per share, excluding special items. Revenue was almost flat at $3.48 billion.

Analysts had expected a profit of $1.14 per share on revenue of $3.52 billion, according to Thomson Reuters I/B/E/S.

Revenue in the company’s bioscience business, which includes antibody therapy, regenerative medicine and plasma proteins segments, rose 5 percent.

Baxter, which bought biological and mechanical products maker Synovis Life Technologies in December, said the deal generated sales of about $20 million in the quarter.

The company reported a 4 percent rise in medical product sales, excluding impact of foreign currency.

Deerfield, Illinois-based Baxter said it now expected full-year earnings of $4.51 to $4.54 per share, compared with $4.49 to $4.57 in its prior forecast. It expects fourth-quarter earnings of $1.24 to $1.27 per share, and sales growth of 5-6 percent, excluding the impact of foreign currency.

Analysts had been expecting fourth-quarter earnings of $1.26 per share on revenue of $3.71 billion.

Baxter issued a conservative long-term outlook last week, saying its focus on treatments for unmet medical needs would help insulate it from macroeconomic pressures.

Shares of the company closed at $61.92 on Wednesday on the New York Stock Exchange.

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