Bayer's 2006 income climbs 5.4%

German drugmaker Bayer AG says that its net income, for the fourth quarter of 2006, was 311.0 million euros ($410.8 million), or 41 cents per share, up from the 46.0 million euros, or 6 cents per share, it earned in the comparable period in 2005. This was ahead of the average esimate of analysts surveyed by Bloomberg News. The firm said that the rise in its profits in the period had been driven by a 25% increase in sales to 7.97 billion euros in the final three months of 2006. For the full year, Bayer's net income was 1.68 billion euros, up 5.4%, while sales increased 17.2% to 28.95 billion euros. Chairman of the Leverkusen-headquartered company's board, Werner Wenning, predicted further improvement in the firm's earning power in 2007, citing the opportunities presented by the acquisition of Schering AG.