By Dave Sebastian
Abbott Laboratories (ABT) said its profit and sales rose in the fourth quarter.
The Abbott Park, Ill.-based maker of health-care products reported $8.31 billion in sales for the quarter, compared with $7.77 billion in the prior year. Analysts polled by FactSet were looking for $8.27 billion.
The company said sales for its medical devices rose 11% on an organic basis, led by double-digit organic sales growth in heart failure, electrophysiology, structural heart and diabetes care.
Sales in the company's established pharmaceuticals unit rose 10% on an organic basis from a year earlier. Its diagnostics segment sales rose 6.4% on an organic basis, while organic sales for its nutrition segment rose 5.8%.
Net income rose to $1.05 billion from $654 million in the year-ago period. Adjusted earnings were 95 cents a share, meeting analysts' expectations.
Write to Dave Sebastian at firstname.lastname@example.org