Healthcare giant Baxter International Inc. has announced financial results for the second quarter and confirmed its full-year 2012 financial outlook. The full release can be found here.
Worldwide sales of $3.6 billion increased 1% from year-ago levels. Excluding the impact of foreign currency, worldwide sales increased 4%. Sales within the United States advanced 6 percent to $1.5 billion, while international sales of $2.1 billion declined 2 percent. Excluding foreign currency, international sales increased 3 percent.
Second quarter net income of $619 million increased 1 percent from $615 million reported in 2011. Adjusted earnings per diluted share of $1.12 rose 5 percent from $1.07 per diluted share last year, and was within the range of the company’s previously issued earnings guidance of $1.10 to $1.12 per diluted share.
As a global, diversified healthcare company, Baxter applies a unique combination of expertise in medical devices, pharmaceuticals and biotechnology to create products that advance patient care worldwide.
Picking on a few highlights most closely related to the device business, the company’s BioScience divisional revenues of $1.6 billion increased 1 percent from the prior-year period. Excluding the impact of foreign currency, BioScience sales rose 4 percent driven primarily by improved demand, particularly in the United States, for ADVATE [Antihemophilic Factor (Recombinant), Plasma/Albumin-Free Method] for the treatment of hemophilia, and strong growth from select specialty plasma-based therapeutics and the company’s portfolio of surgical sealants. Also contributing to this performance was the benefit of the Synovis Life Technologies, Inc. acquisition, which was completed during the first quarter of 2012.
Medical Products sales of $2.0 billion also increased 1 percent from the prior-year period, and excluding the impact of foreign currency, sales rose 4 percent. This performance was driven primarily by solid gains in peritoneal dialysis patients, growth of certain injectable and nutritional therapies, as well as the impact from the company’s acquisition of Baxa Corporation.
”We remain confident that the focus on our diversified portfolio of critical therapies and innovation will position us well for future growth,” said Robert L. Parkinson, Jr., chairman and chief executive officer. ”We will continue to invest in our new product pipeline and seek complementary business development opportunities that will enhance our global presence, expand access to care, and create long-term value for our shareholders.”
Source: Baxter, Business Wire