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Abbott Q4 sales increased 3.3 percent

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Staff writer ▼ | January 23, 2014
AbbottAbbott announced financial results for the fourth quarter ended December 31, 2013. Worldwide sales of $5.7 billion increased 3.3 percent on an operational basis, driven by Diagnostics and Medical Devices.


On a reported basis, sales increased 0.4 percent, including an unfavorable 2.9 percent effect of foreign exchange.

Sales in emerging markets in the fourth quarter were $2.3 billion, increasing 9 percent on an operational basis and 5.2 percent on a reported basis.

Worldwide Nutrition sales increased 1.1 percent in the fourth quarter on an operational basis and decreased 0.8 percent on a reported basis, including an unfavorable 1.9 percent effect of foreign exchange. Abbott's broad and diverse nutritional product portfolio is comprised of approximately 55 percent of sales in Pediatric Nutrition and 45 percent of sales in Adult Nutrition.

Worldwide Pediatric Nutrition sales decreased 2.0 percent on an operational basis and 3.2 percent on a reported basis in the quarter, including an unfavorable 1.2 percent effect of foreign exchange. International Pediatric Nutrition sales decreased 3.1 percent on an operational basis and were impacted by a previously reported supplier recall in early August in certain international markets of pediatric nutrition products.

The sales disruption is estimated to have reduced sales growth in International Pediatric Nutrition by approximately $90 million in the fourth quarter. Exclusive of this event, International Pediatric Nutrition continues to drive strong performance as it launches new product innovations and executes on geographic expansion initiatives.

Worldwide Adult Nutrition sales increased 5.0 percent on an operational basis and 2.3 percent on a reported basis in the quarter, including an unfavorable 2.7 percent effect of foreign exchange. Sales growth in the quarter was led by strong growth of Ensure and continued expansion of the adult nutrition market where Abbott is the global leader.

International Adult Nutrition sales grew 14.0 percent on an operational basis, driven by strong growth in emerging markets. U.S. Adult Nutrition sales growth was impacted by Abbott's exit from certain non-core business lines as part of the division's margin improvement initiative.

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