JnJ declares Q1 net earnings & EPS rises 17%

19 Apr '06

3 min read

Broadly based producer of health care products Johnson & Johnson announced sales for the first quarter of $13.0 billion, an increase of 1.2 percent as compared to the first quarter of 2005. Operational growth was 3.5 percent with a negative currency impact of 2.3 percent.

Domestic sales were up 1.6 percent, while international sales increased .8 percent, reflecting operational growth of 6.1 percent and a negative currency impact of 5.3 percent.

Net earnings and diluted earnings per share for the first quarter of 2006 were $3.3 billion and $1.10. The first quarter included an after-tax gain of $368 million associated with the termination of the Guidant acquisition agreement. The first quarter also included after-tax in-process research and development charges of $29 million associated with the acquisitions of Hand Innovations LLC and Future Medical Systems S.A.

Excluding the impact of these items, net earnings for the quarter were $3.0 billion and diluted earnings per share were $.99, representing increases of 4.5 percent and 5.3 percent, respectively, as compared to the same period in 2005.

Also contributing to the performance of the segment is the continued growth of DePuy's orthopaedic joint reconstruction, sports medicine and trauma businesses; Vistakon's disposable contact lenses; Ethicon Endo-Surgery's minimally invasive products; and Ortho-Clinical Diagnostics' professional diagnostic products.

During the quarter, the Company announced the completion of the acquisition of Animas Corporation, a leading manufacturer of insulin infusion pumps and related products.

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