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Abbott Laboratories (ABT) Reports Fourth-Quarter and Full-Year 2012 Results


1/23/2013 6:38:27 AM

Abbott Park, Illinois (NYSE: ABT) — Abbott today announced financial results for the fourth quarter ended Dec. 31, 2012.

Fourth-quarter diluted earnings per share, excluding specified items, were $1.51. Diluted earnings per share under Generally Accepted Accounting Principles (GAAP) were $0.66, including specified items. Full-year diluted earnings per share, excluding specified items, were $5.07, exceeding Abbott’s initial guidance range. Diluted earnings per share under GAAP were $3.72, including specified items. Excluding foreign exchange, worldwide sales increased 5.6 percent. Reported sales increased 4.4 percent, including an unfavorable 1.2 percent effect of foreign exchange. On Jan. 1, 2013, Abbott completed the launch of AbbVie, a new research-based biopharmaceutical company. Abbott launched numerous new products across its diversified businesses in 2012, positioning the company well for future growth. Key pipeline innovations include the launch of its Absorb™ bioresorbable vascular scaffold; next-generation drug-eluting stent, XIENCE Xpedition™; 80 launches across its Nutrition business; new tests in Diagnostics; as well as several new product and geographic expansion initiatives in Established Pharmaceuticals, Diabetes Care and Vision Care. "In 2012, we achieved a significant milestone in Abbott's 125-year history with the creation of AbbVie while delivering another year of strong results," said Miles D. White, chairman and chief executive officer, Abbott. "Abbott’s mix of diversified healthcare businesses and pipeline is favorably aligned with key healthcare and emerging market trends and well positioned to deliver top-tier growth in 2013."

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