By Dow Jones Business News,
January 21, 2014, 01:06:00 PM EDT
Johnson & Johnson's Profit Jumps 37%, Better Than Seen -- Update
By Tess Stynes
Johnson & Johnson ( JNJ ) said its fourth-quarter earnings rose 37% as the health-care company's pharmaceutical segment
continued to lead sales growth.
For the year, the maker of products from Band-Aids to knee-replacement parts forecast per-share earnings of $5.75 to $
5.85. Analysts polled by Thomson Reuters had expected a per-share profit of $5.85.
J&J reported a profit of $3.52 billion, or $1.23 a share, up from $2.57 billion, or 91 cents a share, a year earlier.
Excluding an increase in its litigation accrual, acquisition-related impacts and other items, adjusted earnings rose to
$1.24 from $1.19. Revenue increased 4.5% to $18.36 billion.
Analysts expected a per-share profit of $1.20 and revenue of $17.95 billion.
In the latest quarter, global pharmaceutical sales rose 12% to $7.3 billion.
Consumer segment sales increased 2.8% to $3.75 billion in the quarter. Medical devices and diagnostics sales fell 1%
to $7.31 billion.
J&J has been shedding slow-growing products and businesses to focus its pharmaceuticals segment, which has been
boosted by new prescription drugs in recent quarters. Most recently, J&J agreed to sell its blood-testing business to
Carlyle Group LP (CG) for $4.15 billion.
J&J also has been aiming to put a string of costly product recalls behind it.
Write to Tess Stynes at email@example.com
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