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Home » Baxter boosts forecast after strong Q3 | Earnings Roundup

Baxter boosts forecast after strong Q3 | Earnings Roundup

October 21, 2011 By MassDevice staff

Baxter International

Baxter International Inc. (NYSE:BAX) said it now expects to post earnings of at least $4.29 per share this year, after logging strong third-quarter results.

The medical device & diagnostics giant said Q3 profits were up 9.7 percent on a 7.9 percent increase in revenues for the three months ended Sept. 30. Baxter reported profits of $576 million, or $1.01 per diluted share, on sales of $$3.48 billion for the quarter. That compares with profits of $$525 million, or 89 cents diluted EPS, on sales of $3.22 billion during the same period last year.

Adjusted earnings, excluding one-time items, were $1.09, one penny more than the consensus analysts’ estimate.

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“The evolving global macro-environment will exert ongoing pressures on our business, creating challenges that we will manage through disciplined execution of our strategies,” chairman & CEO Robert Parkinson Jr. said in prepared remarks.

Sales for Baxter’s medical products division slipped 2.9 percent in the U.S. but rose 6.9 percent overall, thanks to a 13.2 percent contribution from international sales. Domestic medical product sales were $692 million for the quarter; international sales were $1.26 billion, for a grand total of $1.95 billion.

Baxter said it expects full-year EPS, adjusted to exclude one-time items, to be $4.29 to $4.32, up from $4.27 to $4.32. Fourth-quarter diluted EPS is pegged between $1.15 and $1.18.

MassDevice.com Earnings Roundup

MassDevice keeps a close eye on public medical device companies, tracking their quarterly sales and earnings reports. For the most recent filings, check out our Earnings Roundup, where we collect each quarter’s reports.

Danaher’s Q3 profits slide despite strong sales

Danaher Corp. (NYSE:DHR)   reported third-quarter profits of $523.4 million, or 74 cents diluted EPS, on sales of $4.52 billion for the three months ended Sept. 30.

That’s 19.0 percent below earnings of $646.4 million (95 cents diluted EPS) the company reported for the same period last year, on sales of $3.09 billion.Read more

ICU Medical’s Q3 sales stay flat, profits tick up

Getinge posts a profit but top line declines

Getinge Group (PINK:GETI B) reported increased profits but lower sales for the first nine months of the year.

The Swedish medical device giant posted profits of $213.4 million (SEKM 1,416), or 89 cents per share (SEK 5.92), on sales of $2.19 billion (SEKM 14,500) for the nine months ended Sept. 30. That compares with profits of $208.9 million (SEKM 1,386), or 87 cents per share (SEK 5.80), on sales of $2.34 billion (SEKM 15,531) during the same period last year. Read more

Kensey Nash’s Q1 2012 profits plunge

Kensey Nash Corp. (KNSY) posted profits of $2.26 million, or 26 cents per share, on sales of $20.0 million during the three months ended Sept. 30.

That compared with profits of $$3.8 million, or 41 cents per share, on sales of $17.0 million during the same period last year. Read more

Utah Medical’s Q3 sales, earnings soar

Utah Medical Products (NSDQ:UTMD) saw its top line soar by nearly 74 percent and added nearly 48 percent to its bottom line during the third quarter.

The Salt Lake City-based medical device maker logged profits of $2.2 million, or 61 cents per share, on sales of $10.8 million for the three months ended Sept. 30.

That compares with profits of $1.5 million, or 42 cents per share, on sales of $6.2 million during the same period last year. Read more

Filed Under: MassDevice Earnings Roundup, News Well, Wall Street Beat Tagged With: Baxter, Danaher Corp., Getinge, ICU Medical Inc., Kensey Nash Corp., Q3, Utah Medical

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