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Johnson & Johnson consumer segment sales up for Q1

Apr '07
Johnson & Johnson announced record first-quarter sales of $15.0 billion, an increase of 15.7% as compared to the first quarter of 2006. Operational growth was 13.3% with a positive currency impact of 2.4%. Domestic sales were up 11.9%, while international sales increased 20.8%, reflecting operational growth of 15.4% and a positive currency impact of 5.4%.

On a pro-forma basis, including the net impact of the acquisition of Pfizer Consumer Healthcare in both periods, worldwide sales increased 6.3% operationally.

Net earnings and diluted earnings per share for the first quarter of 2007 were $2.6 billion and $.88, respectively. The first quarter of 2007 included an after-tax in-process research and development charge of $807 million associated with the acquisition of Conor Medsystems, Inc.

The first quarter of 2006 included an after-tax gain of $368 million associated with the termination of the Guidant acquisition agreement as well as 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 special items, net earnings for the current quarter were $3.4 billion and diluted earnings per share were $1.16, representing increases of 14.0% and 17.2%, respectively, as compared to the same period in 2006.

"Our solid first-quarter results demonstrate the strength of our broadly- based businesses, especially the strong performance of our pharmaceutical business," said William C. Weldon, Chairman and Chief Executive Officer.

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