Abbott Labs Posts Sales Decline In Nutrition Business

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Abbott Laboratories reported stronger-than-expected fourth-quarter earnings on Thursday but provided a fiscal 2015 earnings per share outlook that fell mostly below the Wall Street consensus. The company reported net earnings of $905 million, or 59 cents a share, compared with a year-earlier profit of $589 million, or 37 cents. Excluding one-time items, EPS was 71 cents, above the 68 cents predicted on average by analysts. Revenue for the quarter climbed 5.6% year-over-year to $5.36 billion, just shy of the $5.4 billion consensus as sales slumped in its nutrition business. For the full year, Abbott is anticipating non-GAAP EPS between $2.10 and $2.20, compared with the FactSet consensus of $2.18. Its shares were little changed in premarket trade. CEO Miles White said the company was positioned for a "step-up in operational sales growth" this fiscal year.

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