Abbott Laboratories (ABT: Quote) reported that its first-quarter net earnings rose to $1.24 billion or $0.78 per share, from $864 million or $0.55 per share in the same quarter last year.
Excluding Specified Items, net earnings for the quarter were $1.65 billion or $1.03 per share, up from $1.42 billion or $0.91 per share last year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.00 per share. Analysts' estimates typically exclude special items.
Net sales for the quarter rose to $9.46 billion from $9.04 billion in the prior year quarter. Sixteen analysts had consensus revenue estimate of $9.36 billion for the quarter.
Abbott raised its full-year 2012 ongoing earnings-per-share guidance to a range of $5.00 to $5.10 from the prior outlook of $4.95 to $5.05. Analysts expect the company to report earnings of $5.01 per share for fiscal 2012.
by RTT Staff Writer
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