Baxter's Allegiance first quarter sales increased by 1% to $1.12 bil. -- SEC filing.
This article was originally published in The Gray Sheet
BAXTER'S ALLEGIANCE SALES INCREASED 1% IN FIRST QUARTER 1996 to $1.12 bil., up from $1.11 bil. in the same period of 1995, the firm says in a Securities and Exchange Commission filing. The slim increase was the result of "planned attempts to reduce sales growth and improve profitability in lower margin, distributed products in the U.S.," the document says. The figures, which exclude the impact of divested businesses, are the first divulged by Baxter for Allegiance, its hospital-supply subsidiary scheduled to be spun off this September under a plan announced in November 1995 ("The Gray Sheet" Dec. 4, 1995, p. 3).
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