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Home Industry News Johnson and Johnson announces second-quarter results

Johnson and Johnson announces second-quarter results

18th July 2007

Johnson & Johnson has announced its financial results for the second quarter of the 2007 fiscal year.

During the quarter, the company generated sales of $15.1 billion (7.4 billion pounds), a rise of 13.2 per cent compared to the same quarter last year, on the back of an operational growth of 10.8 per cent.

The company reported a 5.8 per cent increase on last year’s figure in worldwide pharmaceutical sales, with revenues from this segment of $6.1 billion.

Net earnings for the quarter reached $3.1 billion, with diluted earnings per share equal to $1.05, representing increases of six per cent and 7.1 per cent respectively on the second quarter of 2006, excluding a research and development charge relating to the purchase of Vascular Control Systems.

William C Weldon, chairman and chief executive officer of Johnson & Johnson, said: “Our broadly-based approach to health care is serving us well as challenges in the marketplace intensify across certain businesses.”

He added that the firm is continuing to increase its earnings while simultaneously investing in new opportunities for growth and integrating its recent acquisitions.

Earlier this month, Johnson & Johnson announced a share repurchase programme, with the board of directors authorising plans to re-buy up to $10 billion of common stock in the company.

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