News : Business : Johnson & Johnson Profits Rise 9 Percent

Johnson & Johnson Profits Rise 9 Percent

Tuesday, 17-Jul-2007 08:40AM EDT
Story from AP. Copyright 2007 by The Associated Press (via ClariNet)

NEW BRUNSWICK, N.J. (AP) -- 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 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 premarket trading.

On the Net: http://www.jnj.com

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