Fresenius Medical Care Q3 Profit Rises

Fresenius Medical Care Q3 Profit Rises - Quick Facts

11/2/2010 7:22 AM ET
Fresenius Medical Care AG & Co. KGaA (FMS), a provider of dialysis products and services, Tuesday reported an increase in profit for the third quarter, helped by higher revenues.

Net income attributable to the company rose 10% to $247.79 million or $0.82 per American Depository Share or ADS from $225.30 million or $0.76 per ADS in the same quarter of last year.

On average, analysts polled by Thomson Reuters expected the company to earn $0.85 per share in the quarter. Analysts' estimates typically exclude special items.

Net revenue for the third quarter grew 6% to $3.06 billion from $2.89 billion in the corresponding quarter of last year. Organic revenue growth was 6%. Analysts had a consensus revenue estimate for the quarter of $3.06 billion.

Further, the company updated its earnings guidance for the full year 2010 and now expects earnings to be in the range of $960 million to $980 million. Earlier the company expected earnings to be between $950 million and $980 million. Revenue is still expected to grow to more than $12 billion.

Current market view is for earnings per share of $3.27 on revenues of $12.09 billion.

FMS closed Monday's regular trading at $62.93 on the NYSE.

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