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Economic Issues Thread About, Johnson & Johnson posts 1 percent rise |
Drug, device maker Johnson & Johnson posts 1 percent rise in 3Q profit despite lower sales (AP) 08:02:02 AM (ET), ...
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Economic Issues Thread About, Johnson & Johnson posts 1 percent rise |
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10-13-2009, 05:54 AM
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Johnson & Johnson posts 1 percent rise
Drug, device maker Johnson & Johnson posts 1 percent rise in 3Q profit despite lower sales
(AP) 08:02:02 AM (ET), Tuesday, October 13, 2009 (NEW BRUNSWICK, N.J.) Health care giant Johnson & Johnson pulls out a 1 percent increase in third-quarter profit and beats Wall Street expectations, even though generic competition reduced its sales. The maker of Band-Aids, biotech drugs and Acuvue contact lenses says it earned $3.35 billion in the quarter, or $1.20 per share. In last year's third quarter, it had net income of $3.31 billion, or $1.17 per share. Analysts polled by Thomson Financial were expecting lower earnings per share, at $1.13, and revenue of $15.19 billion in the latest quarter. J&J just missed the revenue forecast, reporting total sales of $15.08 billion. That's down 5 percent from a year ago. * It's a start. One percent is better than none. *
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