* FMC lowers sales, earnings outlook by 2 pct
* FMC third quarter net income $270 mln vs $285 mln poll
* Parent Fresenius 9 month adjusted net income beats poll
* FMC shares drop 3.5 percent
FRANKFURT, Oct 31 Fresenius Medical Care
, the world's largest dialysis group, cut its estimates
for sales and profits this year to take account of the impact of
a strong U.S. dollar on earnings outside the United States.
FMC said on Wednesday it now expected 2012 revenue and net
profit to be as much as 2 percent below its original forecast of
about $14 billion and $1.14 billion respectively. The company
had said previously a deviation of plus or minus 2 percent from
its goal was possible.
The group, which dominates the U.S. dialysis clinics market
along with rival DaVita Inc., also reported a 3 percent
drop in third quarter net income to $270 million. This fell
short of analysts' average forecasts of $285 million.
The company reports in U.S. dollars because it derives about
two thirds of its revenue from North America and the value of
its revenues from Europe declines when the dollar rises against
Equinet Bank analyst Edouard Aubery said it was "quite
unusual" for FMC to miss analysts' forecasts. "We would stay
away from the stock today," Aubery said.
FMC's shares were down 3.5 percent.
The company also revealed plans to take a $70 million
one-off charge that will be excluded from its full-year earnings
outlook. This mainly relates to FMC's plans to buy itself out of
a fixed-price contract for iron drugs that have become cheaper.
These drugs treat low levels of iron in the body that
typically affect dialysis patients.
FMC's parent company Fresenius, the diversified
healthcare group, reported slightly higher than expected
adjusted net income on Wednesday, supported by growth at its
generic drugs and hospitals divisions.
Adjusted net income in the first nine months of the year
rose 21 percent to 682 million euros ($885 million). That was
above the average estimate of 675 million euros in a Reuters
Fresenius still expects 2012 net income up by between 14 and
16 percent, adjusted for currency swings and excluding the
effects of a failed takeover of Rhoen-Klinikum AG.
Fresenius last month raised the full-year profit outlook for
its generic infusion drug unit Kabi for the third time this year
as it benefits from rivals' supply shortages.