8-KEarnings & ResultsExhibits & Filings

ABBOTT LABORATORIES 8-K Report, Financial Results (Jul 18, 2012)

Filed July 18, 2012For Securities:ABT

Summary

Abbott Laboratories (ABT) filed an 8-K on July 18, 2012, to announce its second-quarter 2012 financial results. The filing primarily serves to furnish a press release containing these results. Notably, the company disclosed its use of non-GAAP financial measures, such as net earnings and diluted earnings per share excluding specified items. These adjustments are made for factors considered unusual or unpredictable, including acquisition-related costs, separation costs, milestone payments, litigation reserves, restructuring and integration charges, and other one-time events. Management indicated that these non-GAAP measures are employed internally for performance monitoring and are presented to investors to offer a clearer view of ongoing business performance. However, Abbott cautioned investors to consider these non-GAAP figures alongside, and not as a replacement for, their GAAP-compliant financial statements. The filing also lists the press release as Exhibit 99.1.

Key Highlights

  • 1Abbott Laboratories reported its second-quarter 2012 financial results on July 18, 2012, via an 8-K filing.
  • 2The primary purpose of the 8-K was to furnish a press release containing the company's Q2 2012 earnings.
  • 3Abbott utilized non-GAAP financial measures, including net earnings and EPS, adjusted for specific items.
  • 4Adjusted items mentioned include acquisition/separation costs, milestone payments, litigation reserves, and restructuring charges.
  • 5Management believes these non-GAAP measures provide better insight into ongoing operational performance.
  • 6Investors are advised to view non-GAAP measures as supplementary to, not a substitute for, GAAP results.
  • 7The press release detailing the Q2 2012 results is provided as Exhibit 99.1 to the filing.

Frequently Asked Questions

The main purpose of this 8-K filing is to announce Abbott Laboratories' financial results for the second quarter of 2012 and to furnish the related press release as an exhibit.

Non-GAAP financial measures are financial metrics that exclude certain items from GAAP (Generally Accepted Accounting Principles) results. Abbott uses measures like 'net earnings excluding specified items' and 'diluted earnings per share excluding specified items' to remove the impact of unusual or unpredictable events, such as acquisition costs, restructuring charges, and litigation reserves. Management believes these provide a better view of the company's ongoing business performance.

Abbott cautions investors to consider these non-GAAP financial measures in addition to, and not as a substitute for, the financial measures prepared in accordance with GAAP. This means investors should always review the company's official GAAP statements to get the complete financial picture.

The filing indicates that excluded items can include acquisition-related costs, separation costs, milestone payments, litigation reserves, restructuring and integration charges, cost reduction initiatives, impairment of R&D intangible assets, and effects of calendar year-end changes for international operations.