Abbot Labs Posts 4Q Profit Increase

Abbott Laboratories reported a 3.9 percent increase in profit, with overall revenue rising 2.8 percent, compared to fourth quarter numbers a year ago. Strong earnings in the Lake Forest-based company's medical device and diagnostic business managed to make up for declines in sales for its nutrition business and in international markets, according to Medill Reports. In an earnings call with investors, Abbot Labs CEO Miles White blamed new regulations for last year's weak sales in China and said he expects the company will reverse the recent drop in international sales.

» via Medill Reports