(Source: Associated Press/AP Online)
NEW YORK - Specialty drug and medical device maker Baxter International Inc. says its profit grew 12 percent in the second quarter despite unfavorable currency exchange rates that held back its sales.
The Deerfield, Ill., company says sales of drugs, surgical products and medical equipment all improved. Its profit grew 12 percent to $530 million, or 87 cents per share, from $472 million, or 74 cents per share, a year ago. Excluding one-time charges, profit grew to 98 cents per share from 88 cents per share, a penny above Wall Street expectations.
Revenue was roughly unchanged at $3.15 billion, while analysts expected $3.19 billion.
Baxter raised its profit and revenue outlooks for the year.
A service of YellowBrix, Inc.
