financial results

The revenue increase was driven by a 41 percent rise in product sales.

The company reported $4.77 billion in first quarter revenues, driven by growth in all of its business segments.

The firm guided second quarter revenues to between $62 million and $64 million and revised its full-year 2017 revenue guidance to between $255 million and $265 million.

The company's diagnostics business saw 8 percent growth, while its Covance segment retreated 2 percent. The firm lowered its adjusted EPS estimate for the full year. 

Influenza revenues rose 112 percent due to an especially long and severe respiratory disease season, dominated by a virulent H3N2 strain of influenza.

The company said revenues for the quarter and full-year 2016 included sales of Olerup HLA typing products, which CareDx got through its acquisition of Allenex.

The firm also announced a CE mark and pending commercial release for a FilmArray Respiratory Panel test for 22 pathogens responsible for respiratory tract infections. 

The company beat Wall Street analysts' expectations for sales and earnings per share during the quarter.

The company beat the consensus Wall Street estimates on both the top and bottom lines. It also increased its EPS outlook for full-year 2017. 

Abbott CEO Miles White said that while Alere is a bit of a fixer upper, he is pleased to have a resolution to issues surrounding the proposed acquisition.