Johnson & Johnson Announces Rise in Second-Quarter Earnings
March 28, 2011
NEW BRUNSWICK, N.J. -- Continued success of recently introduced products helped Johnson & Johnson earn $791 million in the second quarter, a 20% increase from the same period last year, the company said Tuesday. The drug and medical product company's earnings equaled 60 cents per share, eclipsing analysts' expectations of 59 cents a share, according to a survey by First Call, Inc.. J&J earned $661 million, or 51 cents a share, in last year's second quarter. Sales rose 13% to $5.38 billion from $4.76 billion, helped by the acquisition of Cordis Corp., a maker of balloon angioplasty devices used to treat heart disease. Among the products cited in J&J's rise were Risperdal, a schizophrenia drug; Pepcid AC, the over-the-counter heartburn drug; the Palmaz-Shatz stent, a device used to pry open diseased coronary arteries; and the LifeScan products, which are used to monitor blood glucose for people with diabetes. Earnings for the first six months of this year were $1.58 billion, or $1.19 per share, up from $1.32 billion, or $1.02 per share, in the first half of 2010. Six-month sales jumped to $10.72 billion from $9.26 billion.
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