SOURCE: Industrial Info Resources

October 17, 2008 07:00 ET

Abbott Reports 51% Jump in Third-Quarter Profit From Strong Sales Worldwide, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - October 17, 2008) - Researched by Industrial Info Resources (Sugar Land, Texas) -- Just two months after announcing a layoff plan that would affect 1,000 employees in order to cut costs, Abbott Laboratories (NYSE:ABT) (Abbott Park, Illinois) has reported a third-quarter 2008 profit of $1.08 billion, up 51.3% compared with the same period last year. Thomas Freyman, Executive Vice President for Finance, said the major jump in earnings largely is due to increased sales across the world. "With this performance, we're clearly seeing the results of our efforts, as we build Abbott into a global, diversified healthcare company with recognized market leadership positions and top-tier financial performance," he said in a conference call. As part of the North American Project Database, Industrial Info is tracking 16 active Abbott projects in North America worth $401 million.

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