Abbott Labs' 3rd-qtr 2007 net earnings flat

US health care major Abbott Laboratories' third-quarter 2007 profit was flat due to large costs related to last year's acquisition of the vascular business of Guidant Corp from Boston Scientific (Marketletter April 17, 2006).

The firm's net earnings inched up 0.2% on the comparable period last year to $717.0 million, or $0.67 per share, despite a global sales increase of 14.4% to $6.38 billion, beating Wall Street consensus estimates of $0.66 per share on income of $6.24 billion.

During the period, Abbott's total domestic revenue rose 10.2% to $3.12 billion, rising 18.8% elsewhere to $3.25 billion. Worldwide pharmaceutical income jumped 19.6% to $3.53 billion, boosted by a 22.2% rise in ex-US markets to $1.63 billion, and up 17.5% to $1.89 billion domestically.