Baxter International Inc. (NYSE:BAX) boosted its top- and bottom-line results during the third quarter, beating its own guidance but falling shy of analysts’ expectations.
The Deerfield, Ill.-based medical products maker posted net income of $595 million, or $1.01 per diluted share, on sales of $3.22 billion during the three months ended Sept. 30. That compares with net income of $530 million, or 87 cents per diluted share, on sales of $3.15 billion during the same period last year, for a profit increase of 12.3 percent and a sales increase of 2.5 percent.
Baxter said it expects fourth-quarter earnings of between $1.09 and $1.11 per share, in line with analysts’ consensus prediction of $1.10. For the full year the company forecast earnings of $3.96 to $3.98 per diluted share, compared with analysts’ expectations of $3.94.
BAX shares were trading at $50.10 in pre-market activity.
