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Abbott Laboratories (ABT) SEC Filing 10-K Annual report for the fiscal year ending Sunday, December 31, 2017

Abbott Laboratories

CIK: 1800 Ticker: ABT

Exhibit 99.1

 

 

News Release

 

Abbott Reports Fourth-Quarter 2017 Results

 

·                 Fourth-quarter reported sales growth of 42.3 percent; comparable operational sales growth of 7.7 percent

·                 Numerous new product approvals and launches across diverse business portfolio

·                 Issues earnings outlook for 2018, reflecting strong double-digit growth

 

ABBOTT PARK, Ill., Jan. 24, 2018 — Abbott today announced financial results for the fourth quarter ended Dec. 31, 2017.

 

·                  Fourth-quarter worldwide sales of $7.6 billion increased 42.3 percent on a reported basis and 7.7 percent on a comparable operational* basis.

·                  Reported diluted EPS from continuing operations under GAAP was a $(0.50) loss in the fourth quarter, primarily due to the net expense of $1.46 billion for the estimated1 impact of the Tax Cuts and Jobs Act (U.S. tax reform). Excluding the impact of U.S. tax reform and other specified items, adjusted diluted EPS from continuing operations was $0.74 in the fourth quarter, at the high end of the previous guidance range of $0.72 to $0.74.

·                  Abbott issues full-year 2018 guidance for diluted EPS from continuing operations on a GAAP basis of $1.22 to $1.32. Projected full-year adjusted diluted EPS from continuing operations is $2.80 to $2.90, reflecting 14.0 percent growth2 at the midpoint.

·                  In October, Abbott received U.S. FDA clearance for its Confirm Rx™ Insertable Cardiac Monitor (ICM), the world’s first and only smartphone-compatible ICM designed to help physicians remotely identify cardiac arrhythmias, and obtained CE Mark for XIENCE Sierra™, the newest generation of the company’s gold-standard XIENCE everolimus-eluting coronary stent system.

·                  In November, Abbott initiated the U.S. launch of FreeStyle® Libre, the only continuous glucose monitoring (CGM) system available that comes factory-calibrated and removes the need for routine fingersticks3 for people with diabetes. In January, Abbott announced that FreeStyle Libre is now available and approved for coverage by the U.S. Center for Medicare & Medicaid Services (CMS).

·                  In December, Abbott received U.S. FDA approval for magnetic resonance (MR)-conditional labeling for its Quadra Assura™ and Quadra Assura MP™ cardiac resynchronization therapy defibrillator (CRT-D) devices and its Fortify Assura™ implantable cardioverter defibrillator (ICD). With these approvals, Abbott has MR-conditional labeling for its full suite of pacemaker, ICD and CRT-D devices.

 

“2017 was a great year for us — we performed well, our new product pipeline was highly productive and we took some very important strategic steps forward,” said Miles D. White, chairman and chief executive officer, Abbott. “We’re entering 2018 with very good momentum.”

 

—more—

 


The following information was filed by Abbott Laboratories (ABT) on Wednesday, January 24, 2018 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 (loss)
Accumulated Other Comprehensive Income (loss) (details)
Accumulated Other Comprehensive Income (loss) (tables)
Assets And Liabilities Held For Disposition
Assets And Liabilities Held For Disposition (tables)
Assets And Liabilities Held For Disposition - General (details)
Assets And Liabilities Held For Disposition - Summary Of Assets And Liabilities (details)
Business Acquisitions
Business Acquisitions (tables)
Business Acquisitions - Alere Inc. (details)
Business Acquisitions - Alere Preferred Stock Tender Offer (details)
Business Acquisitions - Revenue And Earnings (details)
Business Acquisitions - St. Jude (details)
Business Acquisitions - Tendyne Holdings (details)
Debt And Lines Of Credit
Debt And Lines Of Credit (tables)
Debt And Lines Of Credit - Available Credit And Commitment (details)
Debt And Lines Of Credit - Loan Facility (details)
Debt And Lines Of Credit - Principal Payments (details)
Debt And Lines Of Credit - Schedule (details)
Debt And Lines Of Credit - Senior Notes (details)
Debt And Lines Of Credit - St. Jude (details)
Discontinued Operations
Discontinued Operations (tables)
Discontinued Operations - By Disposal (details)
Discontinued Operations - Summary (details)
Financial Instruments, Derivatives And Fair Value Measures
Financial Instruments, Derivatives And Fair Value Measures (tables)
Financial Instruments, Derivatives And Fair Value Measures - Bases Of Measurement (details)
Financial Instruments, Derivatives And Fair Value Measures - Carrying Value And Fair Value (details)
Financial Instruments, Derivatives And Fair Value Measures - Contracts (details)
Financial Instruments, Derivatives And Fair Value Measures - Gain Or Loss (details)
Financial Instruments, Derivatives And Fair Value Measures - Location Of Derivative Instruments (details)
Goodwill And Intangible Assets
Goodwill And Intangible Assets - Goodwill (details)
Goodwill And Intangible Assets - Intangible Assets (details)
Incentive Stock Program
Incentive Stock Program (tables)
Incentive Stock Program - Expense (details)
Incentive Stock Program - General (details)
Incentive Stock Program - Options Activity (details)
Incentive Stock Program - Options Fair Value (details)
Incentive Stock Program - Restricted Awards And Units (details)
Litigation And Environmental Matters
Litigation And Environmental Matters (details)
Post-employment Benefits
Post-employment Benefits (tables)
Post-employment Benefits - Assets (details)
Post-employment Benefits - Assumptions (details)
Post-employment Benefits - Benefit Obligation (details)
Post-employment Benefits - Expense (details)
Post-employment Benefits - Funding And Payments (details)
Quarterly Results (unaudited)
Quarterly Results (unaudited) (details)
Quarterly Results (unaudited) (tables)
Restructuring Plans
Restructuring Plans (details)
Restructuring Plans (tables)
Restructuring Plans - Restructuring Activity (details)
Segment And Geographic Area Information
Segment And Geographic Area Information (tables)
Segment And Geographic Area Information - Geographic Information (details)
Segment And Geographical Area Information - Depreciation And Assets (details)
Segment And Geographical Area Information - Reconciliation (details)
Segment And Geographical Area Information - Sales And Earnings (details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Summary Of Significant Accounting Policies - Cash, Cash Equivalents And Investments (details)
Summary Of Significant Accounting Policies - Changes In Presentation (details)
Summary Of Significant Accounting Policies - Earnings Per Share (details)
Summary Of Significant Accounting Policies - Property And Equipment (details)
Summary Of Significant Accounting Policies - Share-based Compensation (details)
Supplemental Financial Information
Supplemental Financial Information (tables)
Supplemental Financial Information - Foreign Currency (details)
Supplemental Financial Information - Investments (details)
Supplemental Financial Information - Other Accrued Liabilities (details)
Supplemental Financial Information - Other Income And Expense (details)
Supplemental Financial Information - Post-employment Obligations And Other Long-term Liabilities (details)
Taxes On Earnings From Continuing Operations
Taxes On Earnings From Continuing Operations (tables)
Taxes On Earnings From Continuing Operations - Deferred Tax Assets And Liabilities (details)
Taxes On Earnings From Continuing Operations - Earnings And Taxes (details)
Taxes On Earnings From Continuing Operations - Tax Rate Reconciliation (details)
Taxes On Earnings From Continuing Operations - Unrecognized Tax Benefits (details)
Taxes On Earnings From Continuing Operations - Us Tax Reform (details)
Ticker: ABT
CIK: 1800
Form Type: 10-K Annual Report
Accession Number: 0001047469-18-000856
Submitted to the SEC: Fri Feb 16 2018 4:04:37 PM EST
Accepted by the SEC: Fri Feb 16 2018
Period: Sunday, December 31, 2017
Industry: Pharmaceutical Preparations

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