CNN/Money  
graphic
News > Companies
graphic
J&J beats 2Q targets
Health-care and consumer products maker sees earnings, sales rise.
July 15, 2003: 8:59 AM EDT

NEW YORK (CNN/Money) - Health-care and consumer products maker Johnson & Johnson reported improved second-quarter results Tuesday that edged past Wall Street expectations.

Johnson & Johnson earned $2.1 billion, or 70 cents a share, before charges. That was up from $1.8 billion, or 60 cents a share, it earned excluding special items in the year-earlier period. Analysts surveyed by earnings tracker First Call had a consensus earnings per share forecast of 69 cents.

Including special items, such as a $900 million charge for in-process research and development costs associated with the acquisitions, the company reported net income of $1.2 billion, or 40 cents a share, down from $1.7 billion, or 54 cents a share, a year earlier.

The maker of Band-Aids, Tylenol and prescription drugs had revenue of $10.3 billion, the first time it has crossed the $10 billion mark in quarterly sales. That's up 14 percent from $9.1 billion a year earlier, and it beats First Call's revenue forecast of $10.2 billion. Without the change in currency exchange rates the company would have seen a 9 percent gain in revenue.

Sales of consumer products sales were up 6.4 percent on a constant-currency basis and 10.3 percent overall to $1.8 billion. Pharmaceuticals saw a 10.1 percent rise without the decline in value of the dollar and a 14.7 percent overall gain to $4.9 billion. Medical device and diagnostics division saw a 14.6 percent gain overall and an 8.5 percent gain with constant currency to $3.6 billion.

Overall sales outside the United States amounted to 41 percent of sales, and international sales saw a 8.4 percent rise without the change in currency, compared to a 9.2 percent gain in domestic sales.

Shares of Johnson & Johnson (JNJ: Research, Estimates), a component of the Dow Jones industrial average, gained 30 cents to $53.90 in pre-market trading following the earnings report, on top of the $1.72 rise in regular-hours trading Monday.  Top of page




  More on NEWS
Facebook IPO: Wall Street's losses mount
Why we like to watch Facebook struggle
Spanish banking woes threaten Europe
  TODAY'S TOP STORIES
KANSAS OIL BOOM
Stocks waver at the end of an up week
Euro's parachute drop has no end - The Buzz




graphic graphic

Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2012 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2012 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2012. All rights reserved. Most stock quote data provided by BATS.
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2012 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2012 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2012. All rights reserved. Most stock quote data provided by BATS.