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Guidant ups EPS (earnings per share) guidance based on strong second quarter

This article was originally published in Clinica

Executive Summary

Baxter's results include a $51m charge relating to its acquisition of Fusion Medical Technologies (see Clinica No 998, p 13) and a $70m charge in pre-tax impairment charges concerning a significant decline in the market value of minority interests it holds in two public companies. Sales of Baxter's medication delivery products were up 15% to $817m in the quarter and up 13% in the year-to-date. The company's renal sales fell by 1% in the quarter to $473m and rose just 1% to $938m in the six months. The company attributes the weak performance to slowing activity in renal therapy centres as well as relating to problems experienced with its Althane dialysers, which have been linked to a number of deaths following haemodialysis sessions (see Clinica No 986, p 14).

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