Biotech Values

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Abbott affirms EPS outlook, lifts dividend, but results hit by pediatric recall
"We continued to have strong earnings performance, in spite of a supplier recall that impacted our International Nutrition business," Abbott Lab's (ABT) Miles White notes, referring to the supplier recall in August that hit the company's international pediatrics business.Worldwide sales rose 4.3% for Q3 ex-currency impact and 2% on a reported basis. The supplier recall reduced sales by an estimated 2%.Adjusted operating margin rose 210 bps Y/Y.On a segment-by-segment basis (currency neutral): Nutrition sales +3.4%; Diagnostics +10.5% (stronger than expected here, reflecting double-digit growth in Molecular and Point of Care Diagnostics, as well as high single-digit growth in the Core Laboratory business); Established Pharmaceuticals +0.6% (-2.9% reported); Medical Devices +3.9%.Quarterly dividend increased 57% to $0.22/share.FY13 outlook affirmed at $1.98-2.04/share. Consensus is $2/share.




http://m.seekingalpha.com/news-article/7864732-abbott-reports-third-quarter-2013-results