Baxter Reports 2016 Fourth-Quarter and Full-Year Results

Baxter press release ----- Baxter International Inc. (NYSE:BAX) reported results for the fourth quarter ended December 31, 2016, and provided its guidance for the first quarter and full-year 2017. "Baxter's solid operational performance in 2016 was fueled by strong sales and disciplined execution across the organization," said Jose (Joe) E. Almeida, chairman and chief executive officer. "We'll continue to build on this momentum in 2017 and beyond, driven by new product launches, effective portfolio management and further progress on our business transformation initiatives --- all in support of delivering sustainable top-quartile results for our shareholders, and advancing our mission to save and sustain lives." For full-year 2016, Baxter reported income from continuing operations of approximately $5 billion, or $9.01 per diluted share, on a GAAP basis. These results included a gain of $4.4 billion (on a pre and post-tax basis), related to the company's disposition of its retained Baxalta shares. Partially offsetting these results were special items of $817 million ($557 million net after-tax) related to business optimization initiatives, intangible asset amortization, debt extinguishment costs, Baxalta-related-spin-off costs and asset impairments. On an adjusted basis, excluding special items, Baxter's full-year income from continuing operations totaled $1.1 billion, or $1.96 per diluted share. For more in depth information on Baxter 2016 fourth-quarter and full-year results click on the picture below to read the release.