Baxter International's ($BAX) sales of infusion pumps and related equipment grew moderately in the 2013 first quarter, reflecting slow growth in the company as a whole.
Sales for the company's fluid systems division--which includes IV therapies and infusion pumps--hit the $740 million mark during the quarter, up about 3% from the $720 million in sales booked during the 2012 first quarter. Baxter's renal division, which includes kidney dialysis equipment and systems, generated $590 million in sales. That's up 1% over Q1 2012, an increase to be sure, but barely an uptick.
Both divisions are part of Baxter's medical products arm, which generated $1.9 billion in sales itself, a 1% dip compared to the same period a year ago. Baxter's overall net sales reached $3.4 billion for the first quarter, a 2% rise from the $3.38 billion generated during the same period in 2012.
That's the good news. But consider that Baxter's $552 million in net income during the quarter represents a 6% drop over the $588 million booked during the 2012 first quarter. What to blame: costs relating to the company's $4 billion acquisition of dialysis company Gambro AB.
Investors offered a pretty muted reaction to Baxter's new numbers. The company's stock traded just under $70 early on April 18, down about $2 from a high reached April 15, but a dip of less than 1% versus the previous day's trading.
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