Baxter expects sales to grow 5 percent a year in next five years
BY FRANCINE KNOWLES Business Reporter firstname.lastname@example.org October 9, 2012 9:58AM
Updated: November 11, 2012 6:15AM
Baxter International Inc. expects to increase sales approximately 5 percent and grow earnings per share 7 percent to 9 percent, both on a compound annual basis over the next five years, the company said in a statement Tuesday.
The Deerfield-based maker of blood disease treatments, dialysis equipment and medication infusion pumps also said it expects to generate cash flow from operations of roughly $4.5 billion by 2017, positioning it to continue to reinvest in the business and return value to shareholders through dividends and share repurchases.
Baxter released the statement ahead of an investor conference in Chicago Tuesday.
Baxter had 2011 full-year sales of $13.9 billion. It earned $2.22 billion, or $3.38 per share last year.
Shares of Baxter fell $1.34 , or 2.2 percent, to close at $60.48.