Abbott Labs 1st-qtr 2011 sales jump 17% but profits down 14% on acquisitions and restructuring
US health care major Abbott Laboratories (NYSE: ABT) reported financial results for the first quarter ended March 31, 2011, showing that net income declined 14% to $864 million. Diluted earnings per share, excluding specified items, were $0.91, reflecting 12.3% growth. Diluted earnings per share under Generally Accepted Accounting Principles (GAAP) were $0.55, including costs associated with acquisition integration, cost-reduction initiatives and acquired in-process R&D.
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