BioMérieux SA said earnings for the 12 months ended Dec. 31, 2017, rose, and expects contributive operating income and sales to grow in 2018.
The French in vitro diagnostics company's net income reached €238.1 million, or €2.02 per share, up 32.6% from €179.1 million, or €1.52 per share, in the year-ago period.
The S&P Capital IQ normalized EPS consensus estimate for fiscal year 2017 was €1.82.
BioMérieux said its 2017 performance was boosted by robust sales momentum and careful control of operating expenses.
Sales for the period reached about €2.29 billion, up 8.8% from about €2.10 billion the previous year, while operating expenses increased to about €908.3 million, compared to €841.4 million the previous year.
Research and development expenses reached €304.4 million in 2017, up from €271.9 million in 2016.
For 2018, the company expects contributive operating income of between €325 million and €345 million, and sales growth of between 8% and 9%, at constant exchange rates.
Additionally, the company appointed Guillaume Bouhours CFO, corporate vice president and a member of its executive committee, effective in March. Bouhours served as group president of access and mobility at Wabtec Corp., a train component manufacturer in Pennsylvania. He will replace Claire Giraut, who is retiring from BioMérieux.
