Abbott Laboratories (ABT) reported fourth-quarter net earnings of $905 million or $0.59 per share, up from $589 million or $0.37 per share in the same period last year.
Excluding special items, adjusted earnings for the quarter were $0.71 per share, compared to $0.58 per share in the year-ago period. On average, 18 analysts polled by Thomson Reuters expected the company to report earnings of $0.67 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter increased 5.6 percent to $5.36 billion from $5.07 billion in the prior-year quarter. Analysts expected revenue of $5.42 billion for the quarter.
For fiscal 2015, Abbott forecast reported earnings per share from continuing operations of $1.33 to $1.43, including net specified items of about $0.77 per share. Excluding specified items, the company forecast adjusted earnings from continuing operations in a range of $2.10 to $2.20 per share.
Street expects the company to report earnings of $2.14 per share for the year.
On December 12, 2014, Abbott's board of directors increased the company's quarterly dividend to $0.24 per share from $0.22 per share. Abbott's cash dividend is payable February 15, 2015, to shareholders of record at the close of business on January 15, 2015.
For comments and feedback contact: editorial@rttnews.com
Business News