Fresenius Medical Care AG & Co. KGaA (FMS), Friday posted third quarter net income attributable to FMC AG & Co. KGaA of $225 million or $0.76 per share, up 9% from $206.34 million or $0.69 per share in the prior year period.
On average, five analysts polled by Thomson Reuters expected the company to earn $0.76 per share. Analysts' estimates typically exclude special items.
Net revenue for the third quarter increased 6.5% to $2.89 billion from $2.71 billion in the previous year period. Street analysts expected revenues of $2.93 billion.
For the nine-month period, net income attributable to FMC AG & Co. KGaA rose to $645 million or $2.16 per share from $603.3 million or $2.03 per share last year. Net revenue for nine months was $8,212 million, up 4% from the same period last year.
Looking forward, for the full year 2009, the company now expects net income attributable to FMC AG & Co. KGaA in the range of $865 million to $890 million. Previously the company expected the net income to be in the range of $850 million and $890 million for the full year 2009.
Revenue is now anticipated to be around $11.2 billion from the prior estimate of $11.1 billion.
Street analysts expect earnings of $2.94 per share on revenues of $11.13 billion for the year.
In addition, the company said it expects to spend $550 to $650 million on capital expenditures and $200 to $250 million on acquisitions.
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