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Bayer Raises Full-Year Guidance; Second-Quarter Net Income Declines

2:19 AM MDT | July 31, 2012 | Natasha Alperowicz

Bayer today reported a 34% decline in second-quarter net income to €494 million ($611.1 million), with strong second-quarter sales and underlying earnings growth. Sales rose 10%, to a reported record of €10.18 billion, with CropScience and HealthCare sustaining strong momentum and MaterialScience improving further earnings before interest and tax (EBIT). Net income was impacted by special items of €800 million, including risk provisions of €500 million for litigations. “In view of the strong business performance, we are raising our...

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