Fresenius Medical cuts outlook on slower recovery, rising costs

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The company now expects net income to decline in the high-teens to mid-20s percentage range this year, down from its previous outlook of a high-teens percentage drop. It still expects revenue to grow at a low single digit percentage rate.

FMC said net income dropped 16% in third quarter to 230 million euros ($229.15 million) while operating income fell by 7% to 472 million euros in the quarter.

($1 = 1.0037 euros)