J&J Boosts Earnings Despite Sales Drop

April 17, 2012
Overall sales fell 0.2% with U.S. sales dropping 5.1% but international sales increased 4.1%.

Health care and pharmaceuticals giant Johnson & Johnson (IW 1000/18) reported a 12.5% increase in earnings for the first quarter on April 17 after seeing global sales shrink from a year earlier.

Sales fell 0.2% to $16.14 billion in the period to March 30, mainly due to a 5.1% drop in sales in the U.S. market.

International sales were up 4.1%.

But net earnings rose to $3.91 billion from $3.48 billion a year earlier, translating to a 12.8% rise in earnings per share to $1.41 from $1.25.

"We continue to bring meaningful innovations to our patients and customers through the strong performance of our recently launched products," said chief executive William Weldon.

The results were heavily driven by the trends in the company's $6.1 billion in pharmaceutical sales. In the U.S., sales in this sector slumped 10.8%, while international sales jumped 16.5% -- and 19.6% before the negative impact of currency swings.

Copyright Agence France-Presse, 2012

See Also
Johnson & Johnson Fined $70 Million for Bribing Doctors

About the Author

Agence France-Presse

Copyright Agence France-Presse, 2002-2024. AFP text, photos, graphics and logos shall not be reproduced, published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. AFP shall not be held liable for any delays, inaccuracies, errors or omissions in any AFP content, or for any actions taken in consequence.

Sponsored Recommendations

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!