Johnson & Johnson 1st-qtr earnings up 12.5% but sales flat
US health care giant Johnson & Johnson (NYSE: JNJ) posted first-quarter 2012 financial results in line with consensus analysts’ expectation, despite a 0.2% decline to $16.14 billion in revenues compared with the year-earlier quarter. Analysts were expecting revenue of $16.27 billion. Net income rose 12.5% to $3.91 billion, or $1.41 per share. Adjusted net income of $1.37 per share was roughly in line with expectations of $1.36 a share.
The company, which has recently been hit with a $1.1 billion fine from an Arkansas judge in relation to marketing of its former blockbuster schizophrenia drug Risperdal (risperidone; The Pharma Letter April 12), also raised its annual profit forecast by $0.02 to between $5.07 and $5.17 per share, excluding one-time items. Analysts expect earnings per share of $5.11 for full-year 2012.
Pharma sales rise 1.2%
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