Johnson & Johnson Q3 Sales Narrows

Published: 14-Oct-2009

Marginal increase in net earnings of 1.1%

Johnson & Johnson has posted sales of $15.1b for the third quarter of 2009, a decrease of 5.3% compared to the third quarter of 2008. The net earnings and diluted earnings per share were $3.3b and $1.20 respectively, representing a marginal increases of 1.1% and 2.6%, as compared to the same period in 2008.

The company has reported 2.8% drop in operational results and the negative impact of currency was 2.5%. Domestic sales dipped by 8.1%, while international sales fell 2.5%, reflecting operational growth of 2.4% and a negative currency impact of 4.9%.

The company has posted a worldwide consumer sales of $4b, representing a decrease of 2.7% compared to prior year, with an increase of 1.1% operationally and a negative impact from currency of 3.8%. worldwide pharmaceutical sales of $5.3 billion represents a decrease of 14.1% compared to prior year, with an operational decline of 11.9% and a negative impact from currency of 2.2%.

Johnson & Johnson's medical devices and diagnostics sales of $5.8b for the third quarter represents an increase of 2.3% versus the prior year with an operational increase of 4.1% and a negative currency impact of 1.8%.

William Weldon, chairman and CEO, said: “We continue to successfully manage our broad base of businesses and deliver solid earnings despite the impact of patent expirations and the challenges posed by the current economic environment. We completed multiple acquisitions and strategic collaborations and received several new product approvals in the quarter that will benefit patients worldwide and drive future growth.”

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