Abbott Reports 13.9 Percent Sales Increase in the First Quarter
Thursday April 8, 7:15 am ET
- Company Provides 2005 HUMIRA(R) Sales Forecast of More Than $1.2 Billion Based on Strong Global Demand; Hospira Spin-Off on Track for Second Quarter -
ABBOTT PARK, Ill., April 8 /PRNewswire-FirstCall/ -- Abbott Laboratories (NYSE: ABT - News) today announced financial results for the first quarter ended March 31, 2004.
* Worldwide sales for the quarter were $5.216 billion, up 13.9 percent
from $4.580 billion in the first quarter of 2003. Total sales were
favorably impacted 4.9 percent due to the effect of exchange rates.
* Abbott's diluted earnings per share increased 11.8 percent to $0.57,
excluding previously announced one-time charges related to acquisitions
and the planned spin-off of Hospira - within the company's previous
guidance of $0.55 to $0.57. Diluted earnings per share under Generally
Accepted Accounting Principles (GAAP) increased 2.0 percent to $0.52.
* U.S. pharmaceutical sales grew 24.4 percent, driven by strong growth
across virtually all branded products, including Depakote(R),
Synthroid(R), TriCor(R), Omnicef(R) and Ultane(R).
* Worldwide HUMIRA(R) sales were $149 million, including $47 million in
international sales, exceeding company forecasts. As a result, Abbott
for the first time is providing worldwide sales guidance of more than
$1.2 billion for 2005..... |
