Abbott Laboratories (ABT) FY2010 results: revenue $35.2 billion, up 14.3% on the year
Abbott Laboratories (ABT) reported revenue of $35.2 billion for fiscal 2010, the year ended 31 December 2010, up 14.3% on the year before. Net income was $4.6 billion, down 19.5%, and diluted earnings per share $2.96. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2011.
Revenue
$35.2 billion
+14.3% on the year
FY2007FY2010
Operating margin
17.3%
20.3% a year earlier
FY2007FY2010
Net income
$4.6 billion
-19.5% on the year
FY2007FY2010
Diluted EPS
$2.96
-19.8% on the year
FY2007FY2010
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2010
FY2009
FY2008
On the year
Last 8 years
Revenue
35,167
30,765
29,528
+14.3%
Cost of revenue
14,665
13,209
12,612
+11.0%
Gross profit
20,502
17,555
16,916
+16.8%
Gross margin
58.3%
57.1%
57.3%
Research and development
3,724
2,744
2,689
+35.7%
Selling, general and administrative
10,376
8,406
8,436
+23.4%
Operating income
6,088
6,236
5,694
-2.4%
Operating margin
17.3%
20.3%
19.3%
Interest expense
553
520
528
+6.4%
Pre-tax income
5,713
7,194
n/a
-20.6%
Income tax
1,087
1,448
1,122
-25.0%
Effective tax rate
19.0%
20.1%
n/a
Net income
4,626
5,746
4,881
-19.5%
Net margin
13.2%
18.7%
16.5%
Diluted EPS
$2.96
$3.69
$3.12
-19.8%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2010
FY2009
FY2008
On the year
Last 8 years
Operating cash flow
8,736
7,275
6,995
+20.1%
Capital expenditure
1,015
1,089
1,288
-6.8%
Free cash flow
7,721
6,186
5,707
+24.8%
Free cash flow margin
22.0%
20.1%
19.3%
Cash from investing
-12,188
-3,699
-2,087
Cash from financing
-1,088
1,002
-3,486
Depreciation and amortisation
2,624
2,090
1,839
+25.6%
Share-based compensation
387
366
347
+5.7%
Buybacks
867
826
1,082
+4.9%
Dividends paid
2,671
2,414
2,174
+10.6%
Dividend per share
$1.76
$1.60
n/a
+10.0%
Diluted shares, weighted
1,556m
1,555m
1,561m
+0.1%
Balance sheet
$ million
FY2010
FY2009
FY2008
On the year
Last 8 years
Shareholders' equity
22,677
23,144
17,480
-2.0%
Non-controlling interest
88.3
43.1
39.1
+104.9%
Short-term borrowings
n/a
4,978
1,691
Debt
18,918
11,477
9,754
+64.8%
Other liabilities
18,890
12,939
13,455
+46.0%
Total liabilities and equity
60,574
52,582
42,419
+15.2%
Fixed assets
7,971
7,619
7,219
+4.6%
Goodwill
15,930
13,200
9,987
+20.7%
Intangible assets
12,152
6,292
5,151
+93.1%
Investments
2,105
2,256
2,041
-6.7%
Cash and equivalents
3,648
8,809
4,112
-58.6%
Receivables
7,184
6,542
5,466
+9.8%
Inventory
3,189
3,265
2,776
-2.3%
Other assets
8,395
4,598
5,667
+82.6%
Total assets
60,574
52,582
42,419
+15.2%
10-K for the year ended 31 December 2010, filed 18 February 2011: the filing.