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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