Abbott Laboratories (ABT: Quote) reported that its second-quarter net earnings declined to $1.725 billion or $1.08 per share, from $1.943 billion or $1.23 per share in the same quarter last year.
Net Earnings, excluding specified items, were $1.966 billion or $1.23 per share, compared to $1.768 billion or $1.12 per share last year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.22 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter rose to $9.807 billion from $9.616 billion in the prior year quarter. Seventeen analysts had consensus revenue estimate of $9.84 billion for the quarter.
The company confirmed its ongoing earnings-per-share guidance for 2012 of $5.00 to $5.10, reflecting another year of expected strong performance. Analysts expect the company to report earnings of $5.04 per share for fiscal 2012.
Including specified items, projected earnings per share under GAAP would be $4.29 to $4.39 for the full-year 2012. Earlier, Including special items, the company had expected reported earnings for the year of $4.48 to $4.58 per share.
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by RTT Staff Writer
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