News Column

BRIEF: Baxter revenue climbs, but earnings drop on charges

July 17, 2014

By Peter Frost, Chicago Tribune

July 17--Baxter International Inc.'s second-quarter profit fell 11.8 percent to $520 million as a variety of one-time charges dragged down its bottom line.

Revenue in the quarter grew 16.1 percent to $4.3 billion, driven largely by contributions from its dialysis products acquired from Gambro AB.

Sales in its bioscience unit, which Baxter intends to split off into a separate, publicly traded company in mid 2015, rose 7 percent to $1.8 billion. Revenue in its medical products business, which includes the dialysis products portfolio, rose 24 percent to $2.5 billion.

Adjusted for certain one-time items, including costs associated with an infusion pump recall, the planned spin-off and integration of Gambro, earnings per share rose 6 cents to $1.26, beating Wall Street expectations by 4 cents.

The Deerfield-based medical products company said it remains on track to split into two by mid-2015.

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Source: Chicago Tribune (IL)

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