Abbott Reports 17.4 Percent Sales Growth
Early Wednesday, Abbott reported better-than-expected quarterly earnings ended March 31, 2011.
Abbott announced its financial results yesterday for the first quarter ended March 31, 2011. Worldwide sales increased 17.4 percent to more than $9 billion, including a favorable 1.3 percent effect of foreign exchange, which was driven by double-digit growth in each of Abbott's three major business categories.
Diluted earnings per share, excluding specified items, were $0.91, reflecting 12.3 percent growth. Diluted earnings per share under Generally Accepted Accounting Principles (GAAP) were $0.55, including costs associated with acquisition integration, cost-reduction initiatives and acquired in-process R&D.
Durable Growth Business sales increased 24.3 percent, driven by strong Established Pharmaceuticals sales growth, including the contribution from the Solva
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