J&J profits rise 9 per cent
Health care products maker Johnson & Johnson on Tuesday posted a 9 percent increase in its second-quarter profit
By Agencies |
NEW BRUNSWICK, N.J: Health care products maker Johnson & Johnson on Tuesday posted a 9 percent increase in its second-quarter profit, thanks to a double-digit sales increase due to sharply higher sales overseas and its acquisition of Pfizer Inc.'s consumer health products line.
The maker of contraceptives, contact lenses, prescription drugs and baby products reported net income of $3.08 billion, or $1.05 per share, up from $2.82 billion, or 95 cents a share, a year earlier.
The maker of contraceptives, contact lenses, prescription drugs and baby products reported net income of $3.08 billion, or $1.05 per share, up from $2.82 billion, or 95 cents a share, a year earlier.
The consensus forecast of analysts surveyed by Thomson Financial was for earnings of $1 per share. Those estimates typically exclude one-time items.
Sales totaled $15.13 billion, up 13 percent from $13.36 billion in the second quarter of 2006. Analysts had been expecting sales of $15.06 billion in the latest quarter.
Excluding the acquisition of Pfizer Consumer Healthcare, sales were up 3.6 percent.
Johnson & Johnson shares rose 20 cents to $64 in pre market trading.
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