Johnson & Johnson (JNJ: Quote) posted a decline in third-quarter net earnings attributable to the company to $2.97 billion, or $1.05 per share, from $3.20 billion, or $1.15 per share a year before.
However, excluding items, quarterly adjusted earnings totaled $3.52 billion, or $1.25 per share, higher than $3.44 billion, or $1.24 per share last year. On average, 16 analysts polled by Thomson Reuters expected earnings per share of $1.21 for the quarter. Analysts' estimates typically exclude one-time items.
Sales to customers were $17.1 billion for the 2012 third quarter, up 6.5% as compared with last year's $16.0 billion, while 13 analysts estimated revenues of $16.95 billion for the quarter. Operational results went up 10.8% and the negative impact of currency was 4.3%. Domestic sales increased 13.4%. International sales rose by 1.4%, reflecting operational growth of 8.9% and a negative currency impact of 7.5%.
For full year 2012, the company now sees earnings of $5.05 - $5.10 per share, excluding the impact of special items. Twenty analysts project annual earnings of $5.06 per share.
by RTT Staff Writer
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