Fresenius Medical Care's profit down on U.S. healthcare cuts

FRANKFURT Tue May 6, 2014 1:24am EDT

FRANKFURT May 6 (Reuters) - Fresenius Medical Care , the world's largest dialysis provider, on Tuesday posted a worse-than-expected drop in quarterly earnings, hit by cuts to U.S. healthcare budgets.

First-quarter net income declined 9 percent to $205 million, less than the $225 million average analyst expection in a Reuters poll.

The company added it still expected 2014 net profit coming in between $1 billion and $1.05 billion this year, compared with $1.11 billion last year.

It reiterated its outlook for revenues to rise to around $15.2 billion in 2014. (Reporting by Ludwig Burger)