logo
Share SHARE
FONT-SIZE Plus   Neg

J&J To Incur About $100 Mln Charges In Q1 On Venezuelan Currency Devaluation

Johnson & Johnson (JNJ) announced based on its preliminary assessment of the impact of the Venezuelan government's decision to devalue its currency effective February 13, 2013, that it expects to incur a charge of about $100 million to net Income in the First Quarter of 2013 or approximately a $0.04 negative impact to earnings per share.

The company said the charge is related to the remeasurement of the local balance sheet at the date of the devaluation and is not expected to impact earnings per share guidance for full-year 2013 which was previously announced on January 22, 2013.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
The U.S. Department of Defense and Lockheed Martin Corp. are reportedly nearing a deal worth $9 billion for F-35 fighter planes. President-elect Donald Trump had earlier heavily criticized the Pentagon for overspending on defense contracts. He had specifically noted the F-35 as an example on how Lockheed... PowerBar has selected Olympic swimmer Ryan Lochte for its ad campaign to kick start the "Clean Start Pledge." The energy bar's ad campaign, which focuses on its newer line of "Clean Whey" protein bars, also encourages consumers to participate in sports and fitness exercises to improve their health. The Clean Start Pledge started on January 18. Comedian Jerry Seinfeld has signed a new production deal with Netflix Inc. that will make the online video streaming service the exclusive home for his new comedic projects. As part of Seinfeld's exclusive deal with Netflix, twenty four brand new episodes of "Comedians in Cars Getting Coffee" will being streaming exclusively on Netflix in installments in late 2017.
comments powered by Disqus
Follow RTT