FEB 11, 2013
Novartis reported a net income of $9.62 billion in 2012, up from $9.25 billion in 2011, an increase of 4 percent, according to a company news release.
The company's Alcon division had net sales of $10.23 billion in 2012, a 3 percent increase from $9.96 billion in 2011.
In the fourth quarter of 2012, Novartis net income was $2.08 billion, up 72 percent from $1.21 billion in the same quarter the previous year. The fourth-quarter gain was attributed to an increase in operating income - $2.48 billion in 2012 compared with $1.32 billion in the same quarter 2011, when there were higher exceptional charges.
Net sales in 2012 dropped to $56.67 billion, down 3 percent from $58.57 billion the previous year. Fourth-quarter net sales increased to $14.83 billion from $14.78 billion.
Novartis expects 2013 sales to be similar to 2012