Johnson & Johnson (JNJ) Q4 Profit Drops 12% on Numerous Recalls
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Price: $88.09 +0.73%
Revenue Growth %: +8.7%
Financial Fact:
Interest income: -21M
Today's EPS Names:
LBIX, ESEA, ISS, More
Revenue Growth %: +8.7%
Financial Fact:
Interest income: -21M
Today's EPS Names:
LBIX, ESEA, ISS, More
Trade JNJ Now!
Johnson & Johnson (NYSE: JNJ) posts a 12 percent drop in quarter profit on Tuesday after being hammered by numerous recalls , keeping several popular products off store shelves.
The maker of Tylenol reported fourth-quarter net income of $1.94 billion or 70 cents per share, down from $2.21 billion or 79 cents per share earned in the same quarter last year.
Excluding one-time items, the company earned $1.03 per share in the quarter, in line with the analyst estimate.
Revenue for J&J fell 5.5 percent to $15.6 billion in the period, missing the Street's view of $16.08 billion. Sales on the company's consumer product division fell 15 percent to $3.6 billion.
"Although 2010 was a challenging year, the business continued to deliver earnings growth, while investing in the future and emerging a stronger organization," said William C. Weldon, Chairman and Chief Executive Officer. "While we will continue to see near-term pressures on the business for 2011, we remain committed to investing in innovative products, a robust pipeline and talented people who will sustain our growth and increase our market leadership in one of the most important and rewarding industries in the world."
Looking forward, the company sees full year adjusted EPS of $4.80-$4.90, below the consensus of $4.97.
Shares of J&J are down $1.16 to $61.06 in early market movement on Tuesday.
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The maker of Tylenol reported fourth-quarter net income of $1.94 billion or 70 cents per share, down from $2.21 billion or 79 cents per share earned in the same quarter last year.
Excluding one-time items, the company earned $1.03 per share in the quarter, in line with the analyst estimate.
Revenue for J&J fell 5.5 percent to $15.6 billion in the period, missing the Street's view of $16.08 billion. Sales on the company's consumer product division fell 15 percent to $3.6 billion.
"Although 2010 was a challenging year, the business continued to deliver earnings growth, while investing in the future and emerging a stronger organization," said William C. Weldon, Chairman and Chief Executive Officer. "While we will continue to see near-term pressures on the business for 2011, we remain committed to investing in innovative products, a robust pipeline and talented people who will sustain our growth and increase our market leadership in one of the most important and rewarding industries in the world."
Looking forward, the company sees full year adjusted EPS of $4.80-$4.90, below the consensus of $4.97.
Shares of J&J are down $1.16 to $61.06 in early market movement on Tuesday.
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