Strong $ Impact On 1st Qtr At Johnson & Johnson
US pharmaceutical and consumer goods company Johnson & Johnson saidthat its financial results for the first quarter of 1997 were impacted by the strength of the US dollar, decreasing sales by 3.1%. Sales were $5.7 billion, up 7.1% on the previous year's quarter. Net earnings were $909 million, rising 15.1%, and earnings per share advanced 15.3% to 68 cents.
Ralph Larsen, chairman and chief executive, said: "while the strength of the dollar had a significant negative impact on our international sales, we are pleased with our top-line growth on a local currency basis." He noted that the domestic pharmaceutical business performance was strong, along with impressive growth of all businesses in the Asia-Pacific region.
Sales By Segment ($million) 1st Qtr % Change ---------------------------------------- Consumer Total 1,684.0 +4.0 domestic 832.0 +0.8 international 852.0 7.3
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