Baxter's 3rd-qtr 2007 net income rises 6%

USA-based Baxter International's third-quarter 2007 net income totaled $395 million, a 6% increase on the comparable period last year, as net earnings per diluted share jumped 7% to $0.61. These results include after-tax charges totaling $63.0 million, or $0.09 per diluted share but, excluding these special items, the firm recorded a profit of $458.0 million and $0.70 per diluted share, an increase of 22% and 23% , respectively. These results compare favorably to the earnings guidance previously provided by the company of $0.64 to $0.66 per diluted share.

Baxter's worldwide sales totaled $2.8 billion, an increase of 8%, as income from within the USA reached $1.2 billion, up 9%, while international revenues rose 7% to $1.5 billion. The company completed the divestiture of its Transfusion Therapies business during the first quarter of 2007. Excluding this income from both 2007 and 2006, Baxter's global sales increased 11% to $2.7 billion.