Abbott Laboratories (ABT) FY2011 results: revenue $21.4 billion, down 39.1% on the year
Abbott Laboratories (ABT) reported revenue of $21.4 billion for fiscal 2011, the year ended 31 December 2011, down 39.1% on the year before. Net income was $4.7 billion, up 2.2%, and diluted earnings per share $3.01. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2012.
Revenue
$21.4 billion
-39.1% on the year
FY2007FY2011
Operating margin
7.6%
17.3% a year earlier
FY2007FY2011
Net income
$4.7 billion
+2.2% on the year
FY2007FY2011
Diluted EPS
$3.01
+1.7% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
21,407
35,167
30,765
-39.1%
Cost of revenue
10,017
14,665
13,209
-31.7%
Gross profit
11,390
20,502
17,555
-44.4%
Gross margin
53.2%
58.3%
57.1%
Research and development
1,512
3,724
2,744
-59.4%
Selling, general and administrative
7,365
10,376
8,406
-29.0%
Operating income
1,629
6,088
6,236
-73.2%
Operating margin
7.6%
17.3%
20.3%
Interest expense
359
553
520
-35.1%
Pre-tax income
1,236
5,713
7,194
-78.4%
Income tax
110
1,087
1,448
-89.9%
Effective tax rate
8.9%
19.0%
20.1%
Net income
4,728
4,626
5,746
+2.2%
Net margin
22.1%
13.2%
18.7%
Diluted EPS
$3.01
$2.96
$3.69
+1.7%
$ 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
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
8,970
8,736
7,275
+2.7%
Capital expenditure
1,492
1,015
1,089
+46.9%
Free cash flow
7,478
7,721
6,186
-3.1%
Free cash flow margin
34.9%
22.0%
20.1%
Cash from investing
661
-12,188
-3,699
Cash from financing
-6,423
-1,088
1,002
Depreciation and amortisation
3,044
2,624
2,090
+16.0%
Share-based compensation
383
387
366
-1.2%
Buybacks
77.0
867
826
-91.1%
Dividends paid
2,938
2,671
2,414
+10.0%
Dividend per share
$1.92
$1.76
$1.60
+9.1%
Diluted shares, weighted
1,567m
1,556m
1,555m
+0.7%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
24,440
22,677
23,144
+7.8%
Non-controlling interest
86.3
88.3
43.1
-2.3%
Short-term borrowings
n/a
n/a
4,978
Debt
15,415
18,918
11,477
-18.5%
Other liabilities
20,336
18,890
12,939
+7.7%
Total liabilities and equity
60,277
60,574
52,582
-0.5%
Fixed assets
7,874
7,971
7,619
-1.2%
Goodwill
15,705
15,930
13,200
-1.4%
Intangible assets
9,990
12,152
6,292
-17.8%
Investments
1,663
2,105
2,256
-21.0%
Cash and equivalents
6,813
3,648
8,809
+86.7%
Receivables
7,684
7,184
6,542
+7.0%
Inventory
3,284
3,189
3,265
+3.0%
Other assets
7,264
8,395
4,598
-13.5%
Total assets
60,277
60,574
52,582
-0.5%
10-K for the year ended 31 December 2011, filed 21 February 2012: the filing.