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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




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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.