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ABBOTT REPORTS INCREASE IN SALES, EARNINGS IN THIRD QUARTER; EARNINGS PER SHARE INCREASE 15.2 PERCENT

 ABBOTT PARK, Ill., Oct. 7 /PRNewswire/ -- Abbott Laboratories (NYSE: ABT) today reported an increase in sales and earnings for both the third quarter and nine months ended Sept. 30, 1993.
 Worldwide sales for the third quarter were $2.061 billion, up 4.7 percent from $1.968 billion in the third quarter of 1992. Earnings per share for the quarter increased 15.2 percent to 38 cents. Net earnings were up 13.4 percent to $316 million.
 "The strong performance for the quarter reflects both Abbott's geographically diverse base of operations and the balanced growth realized by each of its major businesses: hospital products, diagnostics, nutritional products and pharmaceuticals," said Duane L. Burnham, chairman and chief executive officer. "We will continue to pursue growth through a portfolio of products that provide cost- effective solutions for the delivery of health care worldwide."
 Additional Third Quarter Results
 Worldwide sales of pharmaceutical and nutritional products were $1.059 billion in the third quarter, a 6.8 percent increase from $991 million in the third quarter of 1992. Hospital and laboratory product sales totaled $1.002 billion in the third quarter, a 2.5 percent increase from $977 million a year ago.
 Sales in domestic markets were $1.292 billion, an increase of 7.2 percent from the third quarter of 1992. International sales were $769 million, up 0.6 percent from last year, and were unfavorably impacted 8.5 percent due to the effect of the relatively stronger U.S. dollar. Research and development expenses in the third quarter increased 17.4 percent from a year ago to $225 million. Research and development expenditures continue to be concentrated on diagnostic and pharmaceutical products.
 Nine Month Results
 In the first nine months of 1993, total worldwide sales were $6.180 billion, up 7.4 percent from a year ago. Earnings per share for the first nine months increased 15.2 percent to $1.21 from $1.05 one year ago. Net earnings were $1.008 billion, up 13.2 percent from $890 million for the first nine months of 1992.
 Worldwide sales of pharmaceutical and nutritional products were $3.211 billion in the first nine months, an 8.5 percent increase from $2.960 billion a year earlier. Worldwide sales of hospital and laboratory products totaled $2.969 billion in the first nine months, a 6.2 percent increase from $2.795 billion one year ago.
 Sales in domestic markets were $3.864 billion, an increase of 8.5 percent compared to 1992. Sales in international markets, including direct exports from the United States, were $2.316 billion, up 5.6 percent from the first nine months of 1992. International sales were unfavorably impacted 5.9 percent due to the effect of the relatively stronger U.S. dollar. Research and development expenses were $640 million, up 16.3 percent for the first nine months.
 Additional Developments During The Quarter
 Abbott announced on September 30th that Hytrin (terazosin HCl) cleared U.S. Food and Drug Administration (FDA) review for the treatment of symptomatic benign prostatic hyperplasia (BPH), a condition of the prostate gland that commonly affects older men. Hytrin, a selective alpha-1 blocker, has been marketed as an antihypertensive agent since 1987. Of the 30 million men over 50 years of age in the U.S., it is estimated that 10 million -- or 1 in 3 men -- suffer from urinary problems due to BPH.
 Abbott previewed two new diagnostic products, AxSYM and Abbott Maestro, at the annual meeting of the American Association of Clinical Chemistry. AxSYM, the first third-generation immunoassay system, is designed to fit the work flow in medium- to higher-volume laboratories by providing continuous access to the sample carousel; random access to all assays on the system; and the ability to move new samples up in the queue for immediate testing. Abbott Maestro is an "intelligent workstation" that automates and simplifies the exchange of data between a Laboratory Information System and up to eight Abbott analyzers, providing easy access to real-time quality control, patient demographics and patient history. Both products are expected to be available in 1994.
 Abbott announced in September that it signed a multiyear, multimillion dollar contract with AmHS Purchasing Partners, L.P., an entity of American Healthcare Systems. This was a multidivisional expansion of the existing corporate partner relationship, committing AmHS to purchase Abbott products.
 Abbott's board of directors approved the purchase of up to 20 million shares of its common stock from time to time in the open market at the September meeting.
 The company estimated in August that the net effect of tax changes included in President Clinton's economic package would mean an increase in the company's 1994 tax expense of approximately $50 million, impacting net earnings which otherwise might be expected to be reported for 1994. The changes are not expected to have a significant impact on the company's 1993 tax expense.
 Abbott filed a shelf registration statement in September with the Securities and Exchange Commission covering $500 million of unsecured debt securities, which may be offered from time to time with prices and terms to be determined at the time of the offering. On Oct. 4, 1993, the company issued $200 million of 10-year debentures covered by this filing.
 Abbott Laboratories is a worldwide manufacturer of health care products employing 49,000 people. In 1992, the company's sales and net earnings were $7.9 billion and $1.2 billion, respectively, with earnings per share of $1.47.
 ABBOTT LABORATORIES AND SUBSIDIARIES
 Consolidated Statement of Earnings
 Period ended Third Quarter
 Sept. 30, 1993 1992
 Net Sales $2,060,443,000 $1,968,819,000
 Cost of Products Sold 917,072,000 892,743,000
 Research & Development 225,159,000 191,794,000
 SG&A 472,974,000 441,066,000
 Provision for Product Withdrawal 0 0
 Total Operating Cost & Expenses 1,615,205,000 1,525,603,000
 Operating Earnings 445,238,000 443,216,000
 Interest (Income) Expense, Net 4,054,000 1,868,000
 Other (Income) Expense, Net (A) 1,995,000 54,160,000
 Gain on Sale of Investment 0 0
 Earnings Before Taxes 439,189,000 387,188,000
 Taxes on Earnings 122,972,000 108,412,000
 Net Earnings $ 316,217,000 $ 278,776,000
 Net Earnings per Common Share $ 0.38 $ 0.33
 Average Shares Outstanding 827,014,000 842,448,000
 Tax Rate (in percents) 28.0 28.0
 Nine months ended
 Sept. 30, 1993 1992
 Net Sales $6,179,846,000 $5,755,421,000
 Cost of Products Sold 2,737,235,000 2,600,469,000
 Research & Development 639,611,000 549,900,000
 SG&A 1,493,010,000 1,332,548,000
 Provision for Product Withdrawal (70,000,000) 215,000,000
 Total Operating Cost & Expenses 4,799,856,000 4,697,917,000
 Operating Earnings 1,379,990,000 1,057,504,000
 Interest (Income) Expense, Net 12,686,000 7,715,000
 Other (Income) Expense, Net (A) (32,469,000) 67,698,000
 Gain on Sale of Investment 0 (271,986,000)
 Earnings Before Taxes 1,399,773,000 1,254,077,000
 Taxes on Earnings 391,936,000 363,985,000
 Net Earnings $1,007,837,000 $ 890,092,000
 Net Earnings per Common Share $ 1.21 $ 1.05
 Average Shares Outstanding 830,898,000 846,515,000
 Tax Rate (in percents) 28.0 29.0
 (A) Includes net losses on foreign exchange of $11,836,000 and $30,994,000 for 1993 third quarter and nine months, respectively, and net losses on foreign exchange of $61,947,000 and $99,254,000 for 1992 third quarter and nine months, respectively.
 -0- 10/7/93
 /CONTACT: Don Braakman of Abbott Laboratories, 708-937-1237/
 (ABT)


CO: Abbott Laboratories ST: Illinois IN: HEA SU: ERN SLS

MP -- NY036 -- 9707 10/07/93 10:58 EDT
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Date:Oct 7, 1993
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