Baxter posts improved sales, net income for year

DEERFIELD, Ill. (Jan. 24)—Baxter International Inc. reported increased sales and earnings for the fourth quarter and full-year periods. Sales were up 10 percent in the fourth quarter to $2.3 billion from $2.1 billion, while earnings, including discontinued operations and special charges, reached $9 million vs. a loss of $75 million in the 2001 period. Baxter posted full-year net income of $778 million on sales of $8.1 billion, compared with earnings of $612 million on sales of $7.4 billion last year. In the final period, the company said it took special charges related to two acquisitions and the planned divestiture of the majority of its renal services portfolio.