ABBOTT PARK, Ill. (AP) _ Abbott Laboratories (ABT) on Wednesday reported fourth-quarter net income of $1.99 billion.

The Abbott Park, Illinois-based company said it had net income of $1.11 per share. Earnings, adjusted for one-time gains and costs, were $1.32 per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.18 per share.

The maker of infant formula, medical devices and drugs posted revenue of $11.47 billion in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $10.57 billion.

For the year, the company reported profit of $7.07 billion, or $3.94 per share. Revenue was reported as $43.08 billion.

For the current quarter ending in April, Abbott expects its per-share earnings to be $1.50. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.07.

The company expects full-year earnings to be $4.70 per share.

Abbott shares have dropped 12% since the beginning of the year, while the S&P's 500 index has climbed 16%. The stock has climbed 7.5% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ABT at https://www.zacks.com/ap/ABT

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