Baxter posts 10.8% drop in 2nd-qtr earnings but sales grew 3%

19 July 2013

USA-based Baxter International (NYSE: BAX) reported financial results for the second quarter of 2013, showing that net income fell 10.8% to $590 million and earnings per diluted share were $1.07, compared to $1.19 in the same period last year.

Worldwide sales totaled $3.7 billion, an increase 3%. Excluding the impact of foreign currency, worldwide sales rose 4%. Sales within the USA advanced 3% to $1.5 billion, and international sales of $2.1 billion also increased 3%. Excluding foreign currency, international sales grew 4%.

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 ( The Pharma Letter December 4, 2012). Second quarter 2012 results included a net after-tax benefit from special items totaling $42 million of income (or $0.07 per diluted share).

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