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Abbott Laboratories (ABT) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2013

Abbott Laboratories

CIK: 1800 Ticker: ABT

Exhibit 99.1

 

 

 

 

Abbott Reports Fourth-Quarter and Full-Year 2013 Results

 

– Fourth-Quarter Ongoing EPS of $0.58 (GAAP EPS From Continuing Operations of $0.37) 

– Achieved Adjusted Operating Margin Improvement in 2013 

– Launched Multiple New Products in 2013 Across Diverse Business Portfolio 

– Issues Earnings Outlook for 2014

 

 

 

Abbott Contacts:

 

Financial:

Brian Yoor

(847) 937-6343

 

Tina Ventura

(847) 935-9390

 

Scott Leinenweber

(847) 935-1898

 

Media:

Scott Stoffel

(847) 936-9502

 

Angela Duff

(847) 938-6894

 

 

 

 

 

ABBOTT PARK, Ill., Jan. 22, 2014 — Abbott today announced financial results for the fourth quarter ended Dec. 31, 2013.

 

·      Ongoing diluted EPS was $0.58 in the fourth quarter and $2.01 for the full year, reflecting double-digit growth; reported diluted EPS from continuing operations under GAAP was $0.37 in the fourth quarter and $1.50 for the full year.

 

·      Excluding foreign exchange, fourth-quarter worldwide sales increased 3.3 percent on an operational basis. Reported sales increased 0.4 percent, including an unfavorable 2.9 percent effect of foreign exchange. The previously reported sales disruption in International Nutrition that occurred in August is estimated to have reduced Abbott’s total worldwide sales growth by approximately 1.5 percentage points.

 

·      For the full-year 2013, Abbott expanded its adjusted operating margin by 110 basis points over prior year. This was primarily driven by continuing improvements in Diagnostics and Nutrition. Operating margin under GAAP improved by 320 basis points over prior year.

 

·      In 2013, Abbott delivered on a number of new product launches. Highlights include nearly 70 new product launches in Nutrition; XIENCE Xpedition drug-eluting stent in the United States and Japan; MitraClip®, Abbott’s first-in-class device for the treatment of mitral regurgitation, in the United States; TECNIS® OptiBlue intraocular lens (IOL) in Japan and TECNIS Toric IOL in the United States; ACCELERATOR a3600, a next-generation automation solution for the core laboratory; and several new diagnostic tests on the ARCHITECT platform.

 

·      Abbott issues ongoing EPS guidance for the full-year 2014 that reflects double-digit growth at the mid-point of the guidance range.

 

·      Abbott projects an increase in its share repurchases in 2014 to more than $2 billion. In October 2013, Abbott announced a 57 percent increase in its quarterly common dividend.

 

“In 2013, despite some challenges, we achieved our expectations for earnings growth, including more than 100 basis points of operating margin expansion,” said Miles D. White, chairman and chief executive officer, Abbott. “In 2014, we are targeting another year of double-digit ongoing earnings-per-share growth.

 

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The following information was filed by Abbott Laboratories (ABT) on Wednesday, January 22, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheet
Consolidated Balance Sheet (parenthetical)
Consolidated Statement Of Cash Flows
Consolidated Statement Of Comprehensive Income
Consolidated Statement Of Comprehensive Income (parenthetical)
Consolidated Statement Of Earnings
Consolidated Statement Of Shareholders' Investment
Consolidated Statement Of Shareholders' Investment (parenthetical)
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (details)
Accumulated Other Comprehensive Income (tables)
Business Acquisitions
Business Acquisitions (details)
Debt And Lines Of Credit
Debt And Lines Of Credit (details)
Debt And Lines Of Credit (tables)
Financial Instruments, Derivatives And Fair Value Measures
Financial Instruments, Derivatives And Fair Value Measures (details 2)
Financial Instruments, Derivatives And Fair Value Measures (details 3)
Financial Instruments, Derivatives And Fair Value Measures (details 4)
Financial Instruments, Derivatives And Fair Value Measures (details)
Financial Instruments, Derivatives And Fair Value Measures (tables)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (details 2)
Goodwill And Intangible Assets (details)
Incentive Stock Program
Incentive Stock Program (details)
Incentive Stock Program (tables)
Litigation And Environmental Matters
Litigation And Environmental Matters (details)
Post-employment Benefits
Post-employment Benefits (details 2)
Post-employment Benefits (details 3)
Post-employment Benefits (details)
Post-employment Benefits (tables)
Quarterly Results (unaudited)
Quarterly Results (unaudited) (details)
Quarterly Results (unaudited) (tables)
Restructuring Plans
Restructuring Plans (details 2)
Restructuring Plans (details)
Restructuring Plans (tables)
Schedule Ii Valuation And Qualifying Accounts
Schedule Ii Valuation And Qualifying Accounts (details)
Segment And Geographic Area Information
Segment And Geographic Area Information (details 2)
Segment And Geographic Area Information (details 3)
Segment And Geographic Area Information (details)
Segment And Geographic Area Information (tables)
Separation Of Abbvie Inc.
Separation Of Abbvie Inc. (details)
Separation Of Abbvie Inc. (tables)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (details 2)
Summary Of Significant Accounting Policies (details 3)
Summary Of Significant Accounting Policies (details)
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Supplemental Financial Information
Supplemental Financial Information (details)
Supplemental Financial Information (tables)
Taxes On Earnings From Continuing Operations
Taxes On Earnings From Continuing Operations (details 2)
Taxes On Earnings From Continuing Operations (details)
Taxes On Earnings From Continuing Operations (tables)

Material Contracts, Statements, Certifications & more

Abbott Laboratories provided additional information to their SEC Filing as exhibits

Ticker: ABT
CIK: 1800
Form Type: 10-K Annual Report
Accession Number: 0001047469-14-001176
Submitted to the SEC: Fri Feb 21 2014 5:16:35 PM EST
Accepted by the SEC: Fri Feb 21 2014
Period: Tuesday, December 31, 2013
Industry: Pharmaceutical Preparations

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