Abbott second-quarter earnings per share of $0.62 beat guidance, operating earnings down 50.4%

By Lisa Kerner

Charlotte, N.C., July 19 - Abbott said its second-quarter non-GAAP diluted earnings per share were $0.62, exceeding the company's previous guidance range of $0.56 to $0.58.

The company is raising its earnings-per-share guidance range for the full-year 2006 to $2.49 to $2.53 from $2.44 to $2.50.

Reported worldwide sales for the second quarter ended June 30 were $5.5 billion, down 0.4% from the prior year period.

Operating earnings for the period decreased 50.4% to $542.8 million from $1.1 billion in second-quarter 2005.

"Our long-term growth outlook remains promising as we continue to enhance the mix of our large and diverse portfolio with higher-growth opportunities such as our recent Guidant vascular acquisition and our collaboration with AstraZeneca to develop a fixed-dose combination of TriCor and Crestor," chairman and chief executive officer Miles D. White said in a company news release.

Based in Abbott Park, Ill., Abbott develops and markets pharmaceuticals and medical products, including nutritionals, devices and diagnostics.

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