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Abbott Reports 16 Percent Earnings Growth in First Quarter; Confirms Double-Digit Earnings Growth Outlook for 2009
Date:4/15/2009

- Adjusted EPS Growth of 15.9 Percent (GAAP EPS Growth of 53.3 Percent) -

- Confirms Double-Digit EPS Guidance Range for 2009 -

- Increased 2009 Dividend by 11 Percent -

ABBOTT PARK, Ill., April 15 /PRNewswire-FirstCall/ -- Abbott (NYSE: ABT) today announced financial results for the first quarter ended March 31, 2009.

  • Diluted earnings per share, excluding specified items, were $0.73, reflecting 15.9 percent growth, and $0.03 above the mid-point of Abbott's previous first-quarter guidance range. Diluted earnings per share under Generally Accepted Accounting Principles (GAAP) were $0.92, up 53.3 percent.
  • Worldwide operational sales, which excludes an unfavorable 6.1 percent effect of exchange rates, increased 5.4 percent. Reported sales, including the impact of exchange, declined 0.7 percent. Excluding the expected decline in Depakote(R) sales, due to generic competition, worldwide operational sales increased 8.9 percent.
  • Worldwide medical products operational sales, which excludes an unfavorable 6.8 percent effect of exchange rates, increased 15.6 percent. Global vascular sales increased more than 40 percent driven by the continued success of the XIENCE V(R) drug-eluting stent (DES).
  • Worldwide pharmaceutical operational sales, which excludes an unfavorable 6.6 percent effect of exchange rates, increased 0.9 percent. The decline in Depakote sales lowered worldwide pharmaceutical sales growth by 6.1 percentage points. Global HUMIRA(R) operational sales increased 27.7 percent, which excludes an unfavorable 11.0 percent effect of exchange rates.
  • Global nutritional operational sales, which excludes an unfavorable 4.2 percent effect of exchange rates, increased 10.6 percent. Rep
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SOURCE Abbott
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