US drugmaker AbbVie (NYSE: ABBV) on Friday announced financial results for the fourth quarter and full year 2014, reporting worldwide sales under US generally accepted accounting principles (GAAP) were $5.452 billion, up 6.7% on a reported basis and 10.4% higher operationally, beating FactSet consensus forecasts of $5.35 billion. AbbVie shares fell 4.4% to $60.35 by close of trading, but flattened out after-hours.
For the fourth-quarter, AbbVie posted a loss of $810 million, or $0.51 diluted earnings (loss) per share on a GAAP basis, after a profit of $1.128 billion, or $0.70 a share, in the year-earlier period. Adjusted diluted earnings per share of $0.89 exclude intangible asset amortization expense and other specified items primarily related to the terminated Shire transaction, but ahead of the FactSet consensus of $0.86. The impact of the Shire termination was comprised of the break fee ($0.66), mark-to-market and exit of certain foreign currency positions ($0.24) and other costs ($0.10).
For full-year 2014, sales increased 6.2% to $19.96 billion. Net earnings came in at $1.77 billion compared with 44.13 billion in 2013. Diluted EPS was $1.10 versus $2.56 in 2013, and diluted EPS, excluding special items was $3.23 compared to $3.14.
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