The Bad Homburg, Germany-based company posted profits of $322.6 million (EU €285 million), or $1.05 per share (EU €0.93), on sales of approximately $4.6 billion (EU €4.1 billion) for the three months ended September 30, seeing profits shrink 7.8% while sales shrunk 6.4% compared with the same period during the previous year.
“Our third quarter was affected by several developments whose combined impact on our results was greater than expected. Growth did not accelerate to the extent previously projected. We anticipate the impact from the current level of growth and less acquisitions to continue in the fourth quarter. We have identified countermeasures and have begun implementation. Fresenius Medical Care’s growth will continue,” CEO Rice Powell said in a press release.
Fresenius released upcoming guidance for the remaining fiscal year, expecting to see revenue growth of between 2% and 3%, or 11% to 12% at a constant currency basis.
Shares in Fresenius have risen 0.2% so far today, at $39.22 as of 10:52 a.m. EDT.
Earlier today, NxStage Medical (NSDQ:NXTM) once more delayed its pending $2 billion merger with Fresenius as the U.S. Federal Trade Commission continues to examine the deal.
At DeviceTalks Boston, Tyler Shultz will give attendees an inside look at Theranos and how he was able to sound the alarm after he realized the company was falling apart. Shultz will take attendees behind the story that everyone is talking about: the rise and fall of Elizabeth Holmes and her diagnostic company, Theranos.
Join Shultz and 1,000+ medical device professionals at the 8th annual DeviceTalks Boston.