Abbott announces financial results for the third quarter ended Sept. 30, 2009

AbbottOct 14 2009

 Abbott (NYSE: ABT) today announced financial results for the third quarter ended Sept. 30, 2009.

• Diluted earnings per share, excluding specified items, were $0.92, above Abbott's guidance range of $0.88 to $0.90. Diluted earnings per share under Generally Accepted Accounting Principles (GAAP) were $0.95. The company is raising its ongoing earnings outlook for 2009 to $3.70 to $3.72, above its previous range of $3.65 to $3.70.
• Worldwide operational sales, which excludes an unfavorable 4.9 percent effect of exchange rates, increased 8.4 percent. Reported sales, including the impact of exchange, increased 3.5 percent. Excluding the expected decline in Depakote® sales due to generic competition, worldwide operational sales increased 11.4 percent.
• Worldwide pharmaceutical operational sales, which excludes an unfavorable 5.5 percent effect of exchange rates, increased 3.9 percent. Excluding the impact of Depakote, worldwide pharmaceutical operational sales increased 9.3 percent. International pharmaceutical operational sales increased 15.1 percent, excluding an unfavorable 11.3 percent effect of exchange rates.
• Worldwide medical products operational sales, which excludes an unfavorable 5.1 percent effect of exchange rates, increased 16.2 percent.
• Worldwide nutritional operational sales, which excludes an unfavorable 3.3 percent effect of exchange rates, increased 13.1 percent.

"Abbott is performing well, generating higher-than-expected earnings growth in the third quarter," said Miles D. White, chairman and chief executive officer, Abbott. "During the quarter, we announced several acquisitions that support our long-term growth strategy. These acquisitions add to our diverse mix of global businesses, with new technologies, established products and emerging market infrastructure that will help us deliver sustainable industry-leading growth. In particular, the acquisition of Solvay Pharmaceuticals will further diversify our global pharmaceuticals business."