This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Baxter Meets Expectations With Solid Financial Results For The Third Quarter 2013

Stocks in this article: BAX

Medical Products sales of $2.2 billion increased 10 percent from the prior-year period, and includes revenues associated with the Gambro acquisition. Excluding foreign currency and the contribution from the acquisition, Medical Products sales grew 6 percent. This performance was driven by gains in peritoneal dialysis patients, as well as growth of anesthetics and certain injectable therapies, specifically cyclophosphamide, a generic oncology drug.

Nine-Month Results

For the first nine months of 2013, Baxter reported net income of $1.7 billion, or $3.06 per diluted share. Excluding special items in both periods, Baxter’s adjusted net income for the nine-month period increased 3 percent to $1.9 billion, and earnings per diluted share of $3.41 grew 4 percent from $3.27 per diluted share reported in the comparable prior-year period.

Baxter’s worldwide sales for the nine-month period totaled $10.9 billion and rose 4 percent. Excluding the impact of foreign currency and revenues associated with the Gambro acquisition, Baxter’s revenues also increased 4 percent. BioScience sales of $4.8 billion advanced 5 percent (and excluding foreign currency sales increased 6 percent), while Medical Products sales of $6.1 billion grew 4 percent from the prior-year period (and excluding foreign currency sales also increased 4 percent). Excluding foreign currency and revenues associated with the Gambro acquisition, Medical Products sales increased 2 percent on a year-to-date basis.

During the first three quarters of 2013, Baxter generated cash flows from operations of approximately $2.1 billion and returned significant value to shareholders. On a year-to-date basis, Baxter has returned over $1.6 billion to shareholders through share repurchases of $863 million (or approximately 12.4 million shares) and dividends totaling $757 million, reflecting more than a 35 percent increase in dividend payments versus the prior-year period.

''Our global presence and diversified healthcare model, together with the advancements we’ve made to our business portfolio and new product pipeline are focused on driving improved access to care, better outcomes for patients and enhanced value for our shareholders,'' said Robert L. Parkinson, Jr., chairman and chief executive officer.

2 of 5

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs