This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Baxter Delivers Solid Financial Performance In Line With Guidance For Third Quarter 2012

Baxter International Inc. (NYSE:BAX) today reported third quarter net income of $583 million, or $1.06 per diluted share. This compares to net income in the same period last year of $576 million, or $1.01 per diluted share, reflecting an increase of 5 percent on a per share basis. Baxter’s third quarter 2012 financial results included an after-tax research and development charge of $45 million (or $0.08 per diluted share) associated with the company’s recently announced European licensing agreement with Onconova Therapeutics, Inc. Financial results from the third quarter 2011 included an after-tax charge of $48 million (or $0.08 per diluted share).

On an adjusted basis, excluding special items from both periods, Baxter’s third quarter net income of $628 million increased 1 percent from $624 million reported in 2011. Adjusted earnings per diluted share of $1.14 rose 5 percent from $1.09 per diluted share last year and was in line with the guidance the company previously provided of $1.12 to $1.14 per diluted share.

Worldwide sales totaled $3.5 billion, which were comparable to revenues generated in the third quarter last year. Excluding the impact of foreign currency, Baxter’s sales advanced 5 percent. Sales within the United States of $1.5 billion accelerated 8 percent, while international sales of $2.0 billion declined 5 percent. Excluding the impact of foreign currency, international sales increased 2 percent as strength across many countries in Latin America and Asia Pacific offset continued softness in mature European markets.

BioScience revenues of $1.5 billion were similar to sales in the prior-year period. Excluding the impact of foreign currency, BioScience revenues rose 5 percent, driven by double-digit growth in the U.S. across all key product categories. This was primarily the result of robust growth in demand for ADVATE [Antihemophilic Factor (Recombinant), Plasma/Albumin-Free Method], GAMMAGARD LIQUID [Immune Globulin Intravenous (Human)], and other plasma-based therapeutics including FEIBA, an inhibitor bypass therapy, and products to treat hereditary emphysema. In addition, the company benefited from the recent acquisition of Synovis Life Technologies, generating incremental sales in the quarter of approximately $20 million. The strong U.S. performance was partially offset by the impact of tenders in markets outside the U.S., largely related to the timing of purchases for certain plasma-based therapeutics.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.48 -1.40%
FB $116.86 0.11%
GOOG $693.22 0.32%
YHOO $36.39 -0.55%
TSLA $246.64 -0.43%


Chart of I:DJI
DOW 17,754.23 -76.53 -0.43%
S&P 500 2,063.70 -12.11 -0.58%
NASDAQ 4,775.2860 -30.0050 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs