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Johnson says it has solid finances

15th April 2009

Johnson & Johnson has continued to achieve solid financial results, despite challenging economic times, it has asserted.

This comment came from the chairman and chief executive of the company William C Weldon after the firm’s first quarter results of the year were released.

Sales had decreased by 7.2 per cent compared to the same period in 2008 and totalled $15 billion (ten billion pounds).

The value of products sold internationally dropped by 9.6 per cent, while domestic goods fell by five per cent.

Overall, net earnings for the first three months of 2009 were 2.5 per cent lower than the first quarter of last year, totalling $3.5 billion.

Despite the fall in figures, Mr Weldon remained optimistic for the future.

“We are continuing to make strategic investments in order to bring important new products to market, positioning us well for long-term growth,” he commented.

On the same day that Johnson & Johnson announced its quarterly results, 24-7StockAlert named the business’ shares as “hot in the market” for any potential investors.

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