Baxter Profits Drop

Deerfield-based Baxter Healthcare Corporation has reported first quarter financial results for 2013 have dropped from $588 million, or $1.04 per share this time last year, to $552 million or $1 per share.

The result are in line with the company's previously issued guidance, according to a press release.

"Baxter's global portfolio remains strong as we benefit from our focus on lifesaving therapies, achieve important new product milestones and make select investments to position our company for future success and accelerated growth," said Robert L. Parkinson, Jr., chairman and chief executive officer.

First quarter 2013 results include after-tax special items totaling $29 million, or $0.05 per diluted share, primarily for deal-related costs associated with Baxter's planned acquisition of Gambro AB, a global medical technology company focused on developing, manufacturing and supplying dialysis products and therapies for patients with acute or chronic kidney disease.

Worldwide sales of $3.45 billion increased two percent compared to $3.39 billion reported in the first quarter of 2012. Sales within the United States increased 1 percent, totaling $1.48 billion, while international sales of $1.97 billion increased 2 percent.