Summary
Abbott Laboratories (ABT) filed an 8-K on January 22, 2020, to announce its fourth quarter and full-year 2019 financial results. The report primarily serves to furnish a press release containing these results, which includes non-GAAP financial measures. Investors should note that Abbott utilizes these non-GAAP figures to offer a clearer view of ongoing business performance, excluding items such as acquisition and restructuring costs, R&D asset acquisitions, debt extinguishment, asset impairments, and certain tax adjustments. While these non-GAAP measures, which also exclude intangible amortization, are presented to aid investor understanding and align with management's internal assessment, it is crucial for investors to consider them alongside GAAP-compliant financial measures. The press release itself is furnished as Exhibit 99.1, providing detailed financial information and commentary that supplements the core 8-K filing. The Chief Financial Officer, Brian B. Yoor, signed the report.
Key Highlights
- 1Abbott Laboratories announced its fourth quarter and full-year 2019 financial results via an 8-K filing on January 22, 2020.
- 2The filing includes a press release (Exhibit 99.1) containing the detailed financial results.
- 3Abbott presented non-GAAP financial measures in its earnings announcement.
- 4Non-GAAP measures exclude specified items such as acquisition/restructuring costs, R&D asset acquisitions, debt extinguishment, and asset impairments.
- 5Intangible amortization expense is also excluded from the non-GAAP measures.
- 6The company states that non-GAAP measures provide greater visibility into ongoing business performance and are used internally for performance monitoring.
- 7Investors are advised to consider non-GAAP measures in conjunction with, not as a substitute for, GAAP financial measures.