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VOL. 35 | NO. 28 | Friday, July 15, 2011




Abbott Labs 2Q profit jumps on tax benefit

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WASHINGTON (AP) — Drug and medical device maker Abbott Laboratories says its second-quarter profit jumped 48 percent on lower expenses and a one-time tax benefit.

The North Chicago, Illinois-based company says total sales increased 9 percent to $9.62 billion, led by double-digit growth of drugs and nutritionals in emerging markets. Sales of the company's blockbuster inflammatory drug Humira continued to grow, increasing 25 percent to nearly $2 billion in the quarter.

The company earned $1.94 billion, or $1.23 per share, for the period. Excluding one-time expenses the company would have earned $1.12 per share. That was one penny higher than the average estimate of Wall Street analysts polled by FactSet.

Abbott raised its full-year earnings-per-share guidance 4 cents to between $4.58 and $4.68.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0