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
Cable-cutters have now one more reason to do so as live television streaming will be available on YouTube TV in 14 more markets in the U.S. Facebook Chief Operating Officer Sheryl Sandberg has donated nearly $100 million in Facebook shares to charity. This is her second charitable donation within a year. A document was filed on Thursday with the Security and Exchange Commission, which shows that Sandberg transferred shares to a special fund she uses for charitable donations. Ford Motor Co.'s new CEO Jim Hackett has taken a more cautious approach to the automaker's plans for rolling out autonomous vehicles. Ford is currently undertaking a 100-day review of its operations and Hackett indicated at delays to the company's plans to launch a fully-autonomous vehicle by 2021.
comments powered by Disqus
Follow RTT