Johnson & Johnson's Income Falls 23%

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Health care giant Johnson & Johnson (JNJ) says sales rebounded but its profit dropped 23 percent in the first quarter, due to higher expenses, costs of recalls and litigation and a tax gain that boosted results a year ago.

Adjusted earnings topped expectations. J&J also raised its full-year earnings outlook.

The maker of Band-Aids, baby shampoo and birth control pills posted net income of $3.48 billion, or $1.25 per share, down from $4.53 billion, or $1.62 per share, in 2010's first quarter.

But after two years of declines, revenue rose by 3.5 percent to $16.17 billion.

Adjusted income was $4.86 billion, or $1.35 per share. Analysts expected earnings of $1.03 per share and revenue of $15.6 billion.

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April 19 2011 at 1:40 PM Report abuse rate up rate down Reply
crafashion.com gucci

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—**** NHL Jersey Woman $40
—**** NFL Jersey $23
—**** NBA Jersey $24
—**** MLB Jersey $23
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April 19 2011 at 1:39 PM Report abuse rate up rate down Reply
danielorevae

Johnson and Johnson have been sending billions over seas to avoid taxation. Although legal, it bids the thought, "Is this just another one of those companies hiding monetary gain?" They have moved a large part of their company overseas just for this purpose, as GE did.

April 19 2011 at 11:57 AM Report abuse rate up rate down Reply
RichCocovich

I hope they rebound. Johnson and Johnson is one of our mainstay companies.

Rich Cocovich
Global Star Capital Funding
www.globalstarcapital.com

April 19 2011 at 9:45 AM Report abuse rate up rate down Reply