Baxter Fourth Quarter Sales Up 11%…





Healthcare firm Baxter International has reported net sales of $3.47 billion for the fourth quarter ended December 31, 2009, an increase of 11 percent, compared to $3.13 billion for the same period in 2008.
 

The company has posted a net income of $576m for the fourth quarter 2009, or $0.94 per diluted share, compared to $569m, or $0.91 per diluted share, for the comparable period in 2008.

For the full year ended December 31, 2009, the company has posted a net income of $2.21 billion, or $3.59 per diluted share, compared to $2.02 billion, or $3.16 per diluted share, for the year ago period. Net sales were $12.56 billion in 2009, compared to $12.34 in 2008.

For full-year 2010, Baxter expects sales, excluding the impact of foreign exchange, to grow five to seven percent. Including the benefit of foreign exchange, Baxter expects reported sales growth to increase seven to nine percent compared to 2009, based on current exchange rates. The company also expects earnings per diluted share of $4.20 to $4.28, before any special items, and expects to generate cash flow from operations of approximately $2.9 billion.

“In 2009, Baxter achieved record financial results and enhanced shareholder returns. Each of our businesses and regions contributed to our strong financial performance in the fourth quarter and for the full year, which reinforces the value of the diversified business model, the medically-necessary nature of the portfolio, and our strong global presence.” said Robert Parkinson, Jr., chairman and CEO of Baxter.

Baxter International, Inc. (NYSE:BAX) is a global healthcare company that, through its subsidiaries assists healthcare professionals and their patients with treatment of complex medical conditions including hemophilia, immune disorders, kidney disease, cancer, trauma and other conditions. With 2006 sales of $10.4 billion, and approximately 45,000 employees, Baxter applies its expertise in medical devices, pharmaceuticals and biotechnology to make a meaningful difference in patients' lives.