Business & Tech
Baxter Reports Second Quarter Earnings Dip
Profits fell in the second quarter for Baxter, but worldwide sale have increased 3 percent from prior year levels.
Deefield-based Baxter International Inc. recently announced its second quarter profits have declined slightly compared with last year, but the 2013 financial outlook is solid.
For the second quarter, Baxter reported net income of $590 million and earnings per diluted share of $1.07, compared to net income of $661 million and earnings per diluted share of $1.19 in the same period last year, according to a press release. Worldwide sales totaled $3.7 billion and increased 3 percent from prior-year levels.
Second quarter 2013 results include after-tax special items totaling $49 million (or $0.09 per diluted share), primarily for costs associated with Baxter's planned acquisition of Gambro AB.
Bloomberg Business Week reported the European Union's antitrust authority just cleared Baxter's $2.76 billion acquisition of Gambro AB, a dialysis products firm based in Sweden.
Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.
