ABBOTT PARK, Ill., Jan. 23 /PRNewswire-FirstCall/ -- Abbott today announced financial results for the fourth quarter ended Dec. 31, 2007.
“The strength and balance of Abbott’s broad mix of businesses helped us to deliver another year of consistent performance,” said Miles D. White, chairman and chief executive officer, Abbott. “Both our sales and earnings per share increased double digits. Given the leadership positions of our major businesses, and the new products launching over the next year, we expect another year of strong results in 2008.”
n/a = Percent change is not applicable due to the acquisition of Niaspan in the fourth-quarter 2006.
The following is a summary of sales for the full-year 2007 for selected products.
n/a = Percent change is not applicable due to the acquisition of Niaspan in the fourth-quarter 2006.
Abbott is announcing earnings-per-share guidance of $3.20 to $3.25 for the full-year 2008 and earnings-per-share guidance for the first-quarter 2008 of $0.61 to $0.63, both excluding specified items.
Abbott forecasts specified items for the full-year 2008 of approximately $0.08 per share, primarily associated with previously announced cost reduction initiatives. Including specified items, projected earnings per share under GAAP would be $3.12 to $3.17 for the full-year 2008.
Abbott forecasts specified items for the first-quarter 2008 of approximately $0.03 per share, primarily associated with previously announced cost reduction initiatives. Including these specified items, projected earnings per share under GAAP would be $0.58 to $0.60 for the first-quarter 2008.
Abbott declares quarterly dividend
On Dec. 14, 2007, the board of directors of Abbott declared the company’s quarterly common dividend of 32.5 cents per share. The cash dividend is payable Feb. 15, 2008, to shareholders of record at the close of business on Jan. 15, 2008. This marks the 336th consecutive dividend paid by Abbott since 1924.
About Abbott
Abbott is a global, broad-based health care company devoted to the discovery, development, manufacture and marketing of pharmaceuticals and medical products, including nutritionals, devices and diagnostics. The company employs 65,000 people and markets its products in more than 130 countries.
Abbott’s news releases and other information are available on the company’s Web site at http://www.abbott.com. Abbott will webcast its live fourth-quarter earnings conference call through its Investor Relations Web site at http://www.abbottinvestor.com at 8 a.m. Central time today. An archived edition of the call will be available after 11 a.m. Central time.
Some statements in this news release may be forward-looking statements for the purposes of the Private Securities Litigation Reform Act of 1995. We caution that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated. Economic, competitive, governmental, technological and other factors that may affect Abbott’s operations are discussed in Item 1A, “Risk Factors,” to our Annual Report on Securities and Exchange Commission Form 10-K for the year ended Dec. 31, 2006, and are incorporated by reference. We undertake no obligation to release publicly any revisions to forward-looking statements as a result of subsequent events or developments.
NOTE: See attached questions and answers section for further explanation of Consolidated Statement of Earnings line items.
NOTE: See attached questions and answers section for further explanation of Consolidated Statement of Earnings line items.
CONTACT: Financial, John Thomas, +1-847-938-2655, Larry Peepo,
+1-847-935-6722, Tina Ventura, +1-847-935-9390, or Media, Melissa Brotz,
+1-847-935-3456, Scott Stoffel, +1-847-936-9502, all of Abbott
Web site: http://www.abbott.com/
