8-KEarnings & ResultsExhibits & Filings

ABBOTT LABORATORIES 8-K Report, Financial Results (Jan 21, 2009)

Filed January 21, 2009For Securities:ABT

Summary

Abbott Laboratories (ABT) filed an 8-K on January 21, 2009, to report its fourth quarter and full-year 2008 financial results. The filing primarily serves to furnish a press release that details these results, including the use of non-GAAP financial measures. Management utilizes these non-GAAP figures, which exclude items like acquisition costs and litigation settlements, to provide a clearer view of ongoing business performance and for internal monitoring. Investors are advised that while these non-GAAP measures offer insights into operational trends, they should be considered alongside, and not as a replacement for, results prepared under Generally Accepted Accounting Principles (GAAP). The report highlights the company's practice of adjusting reported earnings to exclude certain "specified items," aiming to present a more consistent picture of the core business's profitability. The press release, furnished as Exhibit 99.1, is the primary source of detailed financial performance data.

Key Highlights

  • 1Abbott Laboratories announced its fourth quarter and full-year 2008 financial results on January 21, 2009.
  • 2The 8-K filing includes a press release (Exhibit 99.1) containing these financial results.
  • 3The company utilizes non-GAAP financial measures, such as net earnings and diluted EPS excluding specified items.
  • 4These non-GAAP measures adjust for unusual or unpredictable factors like acquisition-related costs, cost reduction initiatives, litigation settlements, and investment gains/losses.
  • 5Management believes these non-GAAP measures offer a useful view of ongoing business performance for investors.
  • 6Investors are cautioned to consider non-GAAP measures in conjunction with, not as a substitute for, GAAP financial measures.
  • 7Thomas C. Freyman, Executive Vice President, Finance and Chief Financial Officer, signed the report.

Frequently Asked Questions

The primary purpose of this 8-K filing is to announce and provide access to Abbott Laboratories' financial results for the fourth quarter and full year 2008, as detailed in an accompanying press release (Exhibit 99.1).

The filing indicates that "specified items" are factors that are unusual or unpredictable, such as acquisition-related costs, cost reduction initiatives, litigation settlements, acquired in-process research and development, and gains and losses related to certain investments. Abbott adjusts its reported earnings to exclude these items when presenting non-GAAP financial measures.

Abbott's management uses non-GAAP financial measures to provide investors with a clearer understanding of the company's ongoing business performance. These measures are believed to help investors better evaluate performance by excluding items that may be irregular or not reflective of core operations. Management also uses these measures internally for performance monitoring.

Investors are advised to consider these non-GAAP financial measures in addition to, and not as a substitute for, the financial measures prepared in accordance with Generally Accepted Accounting Principles (GAAP). This means that while non-GAAP figures can offer insights, the official and comparable financial picture is presented under GAAP.