Baxter Q4 net income up

The company has reported net sales of $3.13 billion for the fourth quarter of 2008, an increase of 4%, compared to $3 billion posted in the fourth quarter of 2007. Diluted earnings per share for the fourth quarter of 2008 were $0.91, an increase of 23%, compared to $0.74 in the fourth quarter of 2007.

For the 12 months ended December 2008, Baxter has posted net sales of $12.3 billion, an increase of 10%, compared to $11.2 billion posted in the year ended 2007.

For full-year 2008, the company has reported net income of $2.01 billion, an increase of 18%, compared to $1.70 billion posted in the year ended 2007. Diluted earnings per share for the 12 months ended December 2008 were $3.16, an increase of 21%, compared to $2.61 reported in the prior-year period.

Robert Parkinson, Jr, chairman and CEO of Baxter, said: We exceeded expectations on all key financial metrics throughout the year, which illustrates the solid fundamentals underpinning our portfolio and expanded geographic reach. Despite a challenging, global macro-environment, we’re very well-positioned to continue to meet our commitments, leverage the benefits of our diversified healthcare model, and continue with our strategic priority of accelerating investment in research and development.