J&J net income up 30% and sales up 6% in 3rd qtr, beating analysts' expectations

US health care major Johnson & Johnson beat analysts' expectations with profits up 30% in the third quarter of 2008 compared to the same period of the year before, with a 6% rise in sales. The firm admitted an inflated comparative figure, due to a $528.0 million restructuring charge, was partially responsible for the jump, but even with the exceptional change included the net income figure represented a nearly 8% rise like-for-like.

Revenue was up to $15.92 billion versus $14.97 billion. R&D expenses rose marginally by 1.5% to $1.86 billion. Net income was $3.31 billion, or $1.17 per share, vs $2.55 billion, or $0.88 per share. This exceeded the expectations of Thomson financial analysts, who predicted only $15.69 billion in profit and earnings per share of $1.11. The firm has increased its financial guidance for the full year to EPS of $4.50 to $4.53.

Flat US sales recovered in rest of world