Baxter International 4Q Profit Rises 1 Percent
From Associated Press (January 28, 2010)
NEW YORK--Specialty drug and medical device maker Baxter International said Thursday its fourth-quarter profit rose 1 percent on a boost in drug and medication delivery device sales.
The Deerfield, Ill., company earned $572 million, or 94 cents per share, up from $569 million, or 91 cents per share, a year prior. Revenue rose 11 percent to $3.47 billion from $3.13 billion.
Excluding charges, the company said it earned $1.03 per share. Analysts polled by Thomson Reuters expected profit of $1.03 per share on revenue of $3.39 billion.
Bioscience product sales rose 12 percent to $1.5 billion while medication delivery device sales rose 12 percent to $1.3 billion.
For the full year, the company earned $2.21 billion, or $3.59 per share, up from profit of $2.01 billion, or $3.16 per share, in 2008. Revenue rose 2 percent to $12.56 billion from $12.35 billion.
Looking ahead, Baxter said it expects to earn $4.20 to $4.28 per share in 2010, versus the average analyst estimate of $4.28 per share.
Posted: January 2010