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Baxter 4Q profit on target
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January 27, 2000: 10:12 a.m. ET
Medical products maker earns 84 cents a share, matching estimates
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NEW YORK (CNNfn) - Medical products maker Baxter International Inc. reported fourth-quarter profit Thursday in line with analysts' expectations on strong sales of its blood therapy products.
Deerfield, Ill.-based Baxter posted earnings of $248 million, or 84 cents a diluted share, up 17 percent from the $212 million, or 73 cents, a year earlier. Analysts polled by First Call Corp. had forecast 84 cents. Sales rose 10 percent to $1.8 billion.
The results included a $19 million charge associated with spinning off the company's cardiovascular business, initially announced in July. The company said it expects the transition of the unit into a publicly traded company will be completed within the first quarter of 2000.
For the year, Baxter posted income of $843 million, or $2.86 a share, up 15 percent from the $733 million, or 2.54 a share, it earned in 1998. Sales totaled $6.4 billion for the full year.
Baxter (BAX) is a medical products and services company that focuses on various therapies used in life-threatening situations. The company distributes its products to dialysis centers, rehabilitation centers, nursing homes and doctors' offices.
Baxter rose 1-5/8 to 59-1/8 in early trading Thursday. 
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Baxter
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