johnson and johnson

14/7/2009 8:02 AM ET (RTTNews) - Johnson & Johnson (JNJ: News ) reported second quarter net earnings of $3.21 billion or $1.15 per share, compared to $3.33 billion or $1.17 per share in the same quarter of last year.

The second quarter of 2008 included an after-tax in-process research and development charge of $40 million. Excluding this charge, net earnings for the quarter and diluted earnings per share represent decreases of 4.7% and 2.5%, respectively, as compared to the same period in 2008.

Adjusted earnings before provision for taxes for the quarter were $4.26 billion, down from $4.415 billion in the year ago quarter. On a per share basis, net earnings were $1.15, compared to $1.18 per share in the same quarter of last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $1.11 per share for the quarter. Analysts' estimates typically exclude special items.


Sales for the quarter were $15.24 billion, down 7.4% from $16.45 billion in the year ago quarter. Twelve analysts had consensus revenue estimate of $15.02 billion for the quarter.

The Company confirmed its earnings guidance for full-year 2009 of $4.45 - $4.55 per share, which excludes the impact of special items. Analysts expect the company to report earnings of $4.51 per share for fiscal 2009.