FiercePharma says: Johnson & Johnson met analyst expectations for second-quarter adjusted earnings at $1.21 per share, or $3.45 billion in profits. But its worldwide pharma sales grew by less than 1 percent, and its embattled consumer-drugs segment--which is dealing with manufacturing issues--saw sales fall more than 5 percent to $3.6 billion. J&J cut its profits forecast for the year to $4.65 to $4.75 per share, down from the $4.80 to $4.90 it had predicted in April. The company says part of that decrease stems from currency effects. But it also cited those recalls--and the shutdown of a key consumer-drugs factory, which is keeping a slew of top products such as Tylenol and Motrin off the shelves.
- Sales of $15.3 Billion
- Increased 0.6% Versus 2009 Second-Quarter
- EPS was $1.23 Excluding Special Items
- 2010 Second-Quarter EPS was $1.21, an increase of 5.2%
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J&J's website: http://www.jnj.com
J&J's full earnings release: J&J release