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News > Companies
Abbott Labs meets 1Q
April 12, 2001: 7:52 a.m. ET

Drugmaker helped by BASF Pharma purchase; affirms 2Q and '01 targets
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NEW YORK (CNNfn) - Abbott Laboratories met first-quarter earnings expectations Thursday, helped by the early close of its acquisition of BASF Pharma, and said it is on line to meet second-quarter and full-year forecasts.

The drugs and medical devices maker earned $734.9 million, or 47 cents a share, excluding one-time charges related to the acquisition. That was in line with the forecast of analysts surveyed by earnings tracker First Call, and up from the $693 million, or 44 cents a share, it earned a year earlier.

Revenue rose 6.2 percent to $3.6 billion from $3.4 billion, helped by a month of results from BASF.

Shares of Abbott (ABT: Research, Estimates) lost $1.22 to close Wednesday at $46.99 ahead of the report. graphic




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