Abbott Laboratories (ABT) FY2013 results: revenue $19.7 billion, up 3.2% on the year
Abbott Laboratories (ABT) reported revenue of $19.7 billion for fiscal 2013, the year ended 31 December 2013, up 3.2% on the year before. Net income was $2.6 billion, down 56.8%, and diluted earnings per share $1.62. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2014.
Revenue
$19.7 billion
+3.2% on the year
FY2007FY2013
Operating margin
10.9%
7.1% a year earlier
FY2007FY2013
Net income
$2.6 billion
-56.8% on the year
FY2007FY2013
Diluted EPS
$1.62
-56.5% on the year
FY2007FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
19,657
19,050
21,407
+3.2%
Cost of revenue
9,193
8,899
10,017
+3.3%
Gross profit
10,464
10,151
11,390
+3.1%
Gross margin
53.2%
53.3%
53.2%
Research and development
1,371
1,461
1,512
-6.2%
Selling, general and administrative
6,372
6,735
7,365
-5.4%
Operating income
2,133
1,360
1,629
+56.8%
Operating margin
10.9%
7.1%
7.6%
Interest expense
145
320
359
-54.7%
Pre-tax income
2,041
-220
1,236
Income tax
53.0
-457
110
Effective tax rate
2.6%
n/a
8.9%
Net income
2,576
5,963
4,728
-56.8%
Net margin
13.1%
31.3%
22.1%
Diluted EPS
$1.62
$3.72
$3.01
-56.5%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
3,324
9,314
8,970
-64.3%
Capital expenditure
1,145
1,795
1,492
-36.2%
Free cash flow
2,179
7,519
7,478
-71.0%
Free cash flow margin
11.1%
39.5%
34.9%
Cash from investing
-3,929
-5,560
661
Cash from financing
-6,696
195
-6,423
Depreciation and amortisation
1,719
2,783
3,044
-38.2%
Share-based compensation
262
433
383
-39.5%
Buybacks
1,605
2,364
77.0
-32.1%
Dividends paid
882
3,183
2,938
-72.3%
Dividend per share
n/a
n/a
$1.92
Diluted shares, weighted
1,574m
1,592m
1,567m
-1.1%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
25,171
26,721
24,440
-5.8%
Non-controlling interest
96.0
92.0
86.3
+4.3%
Debt
6,561
20,476
15,415
-68.0%
Other liabilities
11,125
19,946
20,336
-44.2%
Total liabilities and equity
42,953
67,235
60,277
-36.1%
Fixed assets
5,905
8,063
7,874
-26.8%
Goodwill
9,772
15,774
15,705
-38.1%
Intangible assets
5,735
8,588
9,990
-33.2%
Investments
4,742
4,645
1,663
+2.1%
Cash and equivalents
3,475
10,802
6,813
-67.8%
Receivables
3,986
7,613
7,684
-47.6%
Inventory
2,693
3,792
3,284
-29.0%
Other assets
6,645
7,957
7,264
-16.5%
Total assets
42,953
67,235
60,277
-36.1%
10-K for the year ended 31 December 2013, filed 21 February 2014: the filing.