October 19, 2016
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Abbott reports third-quarter sales of $5.3 billion
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Abbott reported sales of $5.3 billion in the third quarter, an increase of 2.9% on a reported basis and 4% on an operational basis, according to a press release.
International sales increased by 2.2% on a reported basis and 3.7% on an operational basis.
Net loss totaled $329 million in the third quarter compared with net earnings of $580 million in the third quarter a year ago.
Sales for Medical Optics totaled $296 million, a 4.4% increase on a reported basis and a 2.5% increase on an operational basis. Cataract products in the premium IOL segment were attributed to the growth in operational sales.
The sale of Abbott Medical Optics to Johnson & Johnson for $4.325 billion is expected to close in the first quarter of 2017.