Back to GetFilings.com



 

FORM 10-Q

 

SECURITIES AND EXCHANGE COMMISSION

 

WASHINGTON, D. C.  20549

 

(Mark One)

 

ý

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the quarterly period ended September 30, 2004

 

OR

 

o

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the transition period from                                to                                

 

Commission File No. 1-2189

 

ABBOTT LABORATORIES

 

An Illinois Corporation

 

I.R.S. Employer Identification

 

 

No. 36-0698440

 

100 Abbott Park Road

Abbott Park, Illinois 60064-6400

 

Telephone: (847) 937-6l00

 

Indicate by check mark whether the registrant (l) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of l934 during the preceding l2 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.         Yes ý.   No o.

 

Indicate by check mark whether the registrant is an accelerated filer (as defined in Rule 12b-2 of the Exchange Act).     Yes ý.  No o.

 

As of September 30, 2004, Abbott Laboratories had 1,557,392,303 common shares without par value outstanding.

 

 


 

PART  I.  FINANCIAL INFORMATION

 

Abbott Laboratories and Subsidiaries

 

Condensed Consolidated Financial Statements

 

(Unaudited)

 


 

Abbott Laboratories and Subsidiaries

 

Condensed Consolidated Statement of Earnings

 

(Unaudited)

 

(dollars and shares in thousands except per share data)

 

 

 

Three Months Ended
September 30

 

Nine Months Ended
September 30

 

 

 

2004

 

2003

 

2004

 

2003

 

Net Sales

 

$

4,681,669

 

$

4,247,855

 

$

14,025,573

 

$

12,383,055

 

 

 

 

 

 

 

 

 

 

 

Cost of products sold

 

2,114,919

 

1,928,796

 

6,257,063

 

5,577,094

 

Research and development

 

391,698

 

409,270

 

1,232,786

 

1,174,752

 

Acquired in-process research and development

 

8,100

 

61,240

 

232,006

 

100,240

 

Selling, general and administrative

 

1,144,416

 

1,027,774

 

3,534,584

 

3,598,856

 

 

 

 

 

 

 

 

 

 

 

Total Operating Cost and Expenses

 

3,659,133

 

3,427,080

 

11,256,439

 

10,450,942

 

 

 

 

 

 

 

 

 

 

 

Operating Earnings

 

1,022,536

 

820,775

 

2,769,134

 

1,932,113

 

 

 

 

 

 

 

 

 

 

 

Net interest expense

 

36,706

 

36,266

 

107,043

 

112,008

 

(Income) from TAP Pharmaceutical Products Inc. joint venture

 

(84,582

)

(142,821

)

(306,486

)

(407,451

)

Net foreign exchange loss

 

3,915

 

5,636

 

24,541

 

50,562

 

Other (income) expense, net

 

439

 

(7,240

)

(25,920

)

(32,146

)

Earnings from Continuing Operations Before Taxes

 

1,066,058

 

928,934

 

2,969,956

 

2,209,140

 

Taxes on earnings from Continuing Operations

 

261,979

 

231,459

 

768,725

 

598,661

 

 

 

 

 

 

 

 

 

 

 

Earnings from Continuing Operations

 

804,079

 

697,475

 

2,201,231

 

1,610,479

 

 

 

 

 

 

 

 

 

 

 

Earnings from Discontinued Operations, net of taxes

 

—

 

63,742

 

60,015

 

198,362

 

 

 

 

 

 

 

 

 

 

 

Net Earnings

 

$

804,079

 

$

761,217

 

$

2,261,246

 

$

1,808,841

 

 

 

 

 

 

 

 

 

 

 

Basic Earnings Per Common Share —

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing Operations

 

$

0.52

 

$

0.45

 

$

1.41

 

$

1.03

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Discontinued Operations

 

0.00

 

0.04

 

0.04

 

0.13

 

 

 

 

 

 

 

 

 

 

 

Net Earnings

 

$

0.52

 

$

0.49

 

$

1.45

 

$

1.16

 

 

 

 

 

 

 

 

 

 

 

Diluted Earnings Per Common Share —

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing Operations

 

$

0.51

 

$

0.44

 

$

1.40

 

$

1.02

 

 

 

 

 

 

 

 

 

 

 

Discontinued Operations

 

0.00

 

0.04

 

0.04

 

0.13

 

 

 

 

 

 

 

 

 

 

 

Net Earnings

 

$

0.51

 

$

0.48

 

$

1.44

 

$

1.15