Abbott sales disappoint, 2012 forecast strong

Abbott Laboratories reported lower-than-expected quarterly sales but forecast full-year 2012 earnings slightly above the average Wall Street estimate.

The diversified healthcare company, which aim to spin off its branded prescription drugs business this year, on Wednesday said it earned $1.62 billion, or $1.02 per share, in the fourth quarter. That compared with $1.44 billion, or 92 cents per share, in the year-earlier period.

Excluding special items, the suburban Chicago company earned $1.45 per share. Analysts on average forecast $1.44, according to Thomson Reuters I/B/E/S.

Global revenue of $10.38 billion fell short of Wall Street expectations of $10.63 billion.