Financial Health
Abbott Reports Double-Digit Sales and Earnings Growth in Fourth Quarter; Issues Strong Earnings Outlook for 2010
By
Jan 27, 2010 - 9:01:24 AM

Worldwide Sales Increased 10.6 Percent –
Adjusted EPS Growth of 11.3 Percent (GAAP EPS Growth of 10.1 Percent) –
Worldwide Medical Products Sales Increased 23.4 Percent –
International Nutritional Sales Increased 11.0 Percent –
International Pharmaceutical Sales Increased 22.1 Percent –


(HealthNewsDigest.com) - ABBOTT PARK, Ill., Jan. 27, 2010 — Abbott today announced financial results for the fourth quarter ended Dec. 31, 2009. Diluted earnings per share, excluding specified items, were $1.18, reflecting 11.3 percent growth, at the high end of Abbott’s previous forecast. Diluted earnings per share under Generally Accepted Accounting Principles (GAAP) were $0.98, up 10.1 percent.

Worldwide sales increased 10.6 percent to nearly $8.8 billion, including a favorable 2.4 percent effect of exchange rates. Excluding the expected decline in Depakote® sales due to generic competition, worldwide reported sales increased 12.7 percent. Full-year 2009 sales were $30.8 billion.


Worldwide pharmaceutical sales increased 5.2 percent, including a favorable 2.5 percent effect of exchange rates. Excluding the impact of Depakote, worldwide pharmaceutical sales increased 8.9 percent. International pharmaceutical sales increased 22.1 percent, including a favorable 5.6 percent effect of exchange rates.

Worldwide medical products sales increased 23.4 percent, including a favorable 3.2 percent effect of exchange rates.

Worldwide nutritional sales increased 8.8 percent, including a favorable 0.9 percent effect of exchange rates.

Abbott is issuing ongoing earnings-per-share guidance for the full-year 2010 of $4.20 to $4.25, excluding specified items. The midpoint of this range reflects growth of approximately 13.5 percent over 2009, including an expected February 2010 close of the Solvay Pharmaceuticals acquisition.

"Abbott's 2009 results demonstrated the sustainable strength and balance of our broad-based businesses," said Miles D. White, chairman and chief executive officer, Abbott. "We took decisive long-term strategic actions in 2009 to ensure our strong results continue for years to come. As a result, we're positioned to deliver another year of top-tier performance in 2010."

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