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Interim Results

Abbott Labs reports double-digit sales growth

22 April 2015 13:00

Abbott Laboratories has announced its financial results for the first quarter ended March 31 2015, which highlighted worldwide sales of $4.9 billion.

This represents an increase of 10.0 percent on an operational basis, including double-digit growth in emerging markets.

Worldwide sales increased 3.0 percent on a reported basis.

Adjusted diluted EPS from continuing operations, which excludes specified items, was $0.47 in the first quarter, above previous guidance range and representing growth of 38.2 percent. Reported diluted EPS from continuing operations under GAAP was $0.35.

Abbott's full-year 2015 adjusted EPS guidance range for continuing operations remains unchanged at $2.10 to $2.20. Projected full-year 2015 EPS for continuing operations under GAAP is $1.33 to $1.43.

In February, Abbott completed the sale of its developed markets branded generics pharmaceuticals business to Mylan. The Established Pharmaceuticals business is now focused entirely on emerging markets.

Abbott stated that it launched several new products beginning this year, including FreeStyle® Libre Pro Flash Glucose Monitoring System for professional use in India; new slim-designed blood glucose meter FreeStyle Precision Neo in the U.S.; TECNIS® Multifocal Low Add and TECNIS Preloaded intraocular lenses (IOLs) in the U.S.; a new drug-eluting stent system XIENCE AlpineTM in Japan; and Ensure® for retail adult nutrition in China.

In March, Abbott opened a new state-of-the-art nutrition pilot plant in Singapore, which also will serve as an R&D hub in Asia and allow Abbott to more rapidly incorporate local consumer preferences.

Miles D. White, chairman and chief executive officer, said:

"We're off to a good start this year, with particularly strong performance in our branded generics, international nutrition and global diagnostics businesses."

Story provided by StockMarketWire.com

Related Company: ABT

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