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Baxter Raises Full-Year 2008 Outlook Following Strong Second-Quarter Financial Results
Date:7/17/2008

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BASIC EPS $1.55 $1.28 21%

==========================================================================

DILUTED EPS $1.52 $1.26 21%

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WEIGHTED AVERAGE NUMBER OF COMMON

SHARES OUTSTANDING

Basic 629 650

Diluted 641 660

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ADJUSTED PRE-TAX INCOME (excluding

specified items) $1,259 (3) $1,107 (3) 14%

ADJUSTED NET INCOME (excluding

specified items) $1,018 (3) $880 (3) 16%

ADJUSTED DILUTED EPS (excluding

specified items) $1.59 (3) $1.33 (3) 20%

(1) Cost of goods sold in the first quarter of 2008 included a charge of

$53 million ($45 million, or $0.07 per share, on an after-tax basis)

related to COLLEAGUE infusion pumps.

(2) A restructuring charge of $70 million ($46 million, or $0.07 per

share, on an after-tax basis) in 2007 was primarily for costs and

asset impairments associated with the consolidation of certain

commercial and manufacturing operations outside of the United States.

(3) Refer to page 8 for a description of the adjustments and a

reconciliation to GAAP measures.

Non-GAAP Financial Measures: The non-GAAP financial measures contained

in this press release (pre-tax income, net income and per-share earnings,

excluding certain items) adjust for factors that are unusual or

nonrecurring. Unusual or nonrecurring items can be highly variable,

difficult to predict, and of a size that may substantially impact the

company's reported
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SOURCE Baxter International Inc.
Copyright©2008 PR Newswire.
All rights reserved

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