Fresenius revenues up 11% in Q1

• Fresenius Medical Care (FMS -0.1%) Q1 results: Revenues: $3,960M (+11.1%); COGS: $2,776M (+11.8%); R&D Expense: $31M (+3.3%); SG&A: $655M (+5.6%); Operating Income: $504M (+13.3%); Net Income: $210M (+2.4%); EPS: $0.35 (+2.9%); CF Ops: $447M (+299.1%).
• 2015 Guidance: Revenue growth: 5 - 7%; Net Income Growth: 0 - 5%; CAPEX: ~$1B.
• 2016 Guidance: Revenue Growth: 9 - 12%; Net Income Growth: 15 - 20%.