Arab Today, arab today higher costs push johnsonjohnson earnings down
Last Updated : GMT 02:18:28
Arab Today, arab today
Arab Today, arab today

Higher costs push Johnson & Johnson earnings down

Arab Today, arab today

Arab Today, arab today Higher costs push Johnson & Johnson earnings down

New York - AFP

US health care and pharmaceutical giant Johnson & Johnson on Tuesday said rising costs pushed earnings lower in the first quarter. Net earnings fell 10.6 percent to $3.50 billion in the quarter to March 31, compared to a year earlier, despite an 8.5 percent rise in sales to $17.5 billion. Cost of sales grew 13.0 percent, pushing net earnings as a percent of sales to 20.0 percent from 24.2 percent. Earnings per share fell 13.5 percent to $1.22 from $1.41. The company said domestic US sales gained 11.2 percent in the quarter and international sales rose 6.3 percent. The company said earnings were also hit by after-tax special items amounting to $600 million, mainly due to litigation expenses and costs related to the acquisition of medical device manufacturer Synthes. On a narrower measure used by analysts, earnings per share before provision for taxes on income -- excluding the after-tax special items -- came in at $1.44 a share, compared to $1.37 a year earlier and four cents better than expected. "We delivered solid first-quarter results led by the success of many of our recently launched pharmaceutical products and the addition of Synthes to our orthopaedics business," said chairman and chief executive Alex Gorsky in a statement. "Our investments to advance our pipelines and expand our global presence, along with the outstanding efforts of our talented people, will enable us to continue to deliver sustainable growth and meaningful innovations to patients and customers around the world." J&J, which sells consumer products including Listerine, Band-Aid, Tylenol and Splenda, and a portfolio of common prescription drugs, confirmed its forecast of earnings for the full year of $5.35-$5.45 a share, excluding special items.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today higher costs push johnsonjohnson earnings down Arab Today, arab today higher costs push johnsonjohnson earnings down

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today higher costs push johnsonjohnson earnings down Arab Today, arab today higher costs push johnsonjohnson earnings down

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday