Baxter Travenol Laboratories Inc. reported a 38 percent increase in first-quarter profits, to $91 million, or 31 cents a share, from $66 million, or 22 cents a share, in the year-earlier period.
Sales rose 12 percent, to $1.64 billion from $1.46 billion.
The Deerfield-based health-care company said first-quarter sales of hospital products and services increased 11 percent, to $880 million; sales of medical systems and specialties rose 9 percent, to $370 million; sales of alternate site products and services increased 16 percent, to $290 million;
and sales of industrial products climbed 25 percent, to $95 million.
”Our first-quarter operating results point to another excellent year for Baxter,” said Vernon R. Loucks Jr., chairman and chief executive officer.
”Our strong sales growth reflects a continuation of an improving U.S. hospital market.”
