3:00PM New York - Fresenius Medical Care AG & Co reported net income for the year ended December 31st jumped 34% to $717 million from $536 million as patients and dialysis service revenues increased.

Quarterly Earnings Review

Fresenius Medical Care reported fourth quarter revenues jumped 9.2% from $2.35 billion a year ago to $2.56 billion as revenues from dialysis services rose 6% to $1.85 billion and dialysis product revenues increased 18% to $713 million.

For the quarter ended December 31st, net income climbed 30% from $152 million to $197 million. Earnings per share rose 29.3% from $0.52 per share to $0.67 in the comparative period a year ago.

Operating profit in the period grew 21% to $427 million from $353 million in the fourth quarter last year.

Annual Earnings Review

Fresenius’ annual revenues rose 14.4% to $9.7 billion from $8.4 billion a year ago.

For the year, net income climbed 33.6% to $717 million from $536 million in the year ago period. Earnings per share rose 32.9% to $2.43 per share from $1.82 per share.

Operating income in the period grew 20% from $1.318 billion to $1.58 billion.

The company proposed a 15% increase in annual dividend per ordinary share from last year to 0.54 euro.

Revenues

North America
In the fourth quarter, revenues grew 9% to $2.56 billion as organic revenue globally was 4%. Dialysis Service revenues in the review period jumped 6% to $1.8 billion, while Dialysis Product revenue gained 18% to $713 million.

Revenues generated from North America in the fourth quarter increased 3% to $1.7 billion as the company raked in $1.52 billion in Dialysis Services revenues.

In the quarter, strong sales of 2008K hemodialysis machines, peritoneal dialysis products and the phosphate binding drug PhosLo spurred revenues 17% up in the Dialysis to $180 million.

Additionally, average revenue per treatment for the U.S. declined 1% to $325 from $328 in the fourth quarter last year.

International Markets

Fourth quarter international revenues spiked 24% to $863 million compared to the fourth quarter 2006 as organic growth increased 7%.

Dialysis Services income advanced 35% year-on-year to $331 million and Dialysis Product revenue edged up 18% to $533 million buoyed by strong sales of peritoneal dialysis products and dialyzers.

Patients & Treatments

Patients treated by Fresenius Medical Care last year increased 6% from 2006 to 173,863.