Mead Johnson (MJN) Misses Q1 EPS by 3c
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Mead Johnson Nutrition Reports Constant Dollar Sales Growth and Increased Earnings; Reaffirms 2015 Non-GAAP Guidance
April 23, 2015 7:30 AM EDTGLENVIEW, Ill.--(BUSINESS WIRE)-- Mead Johnson Nutrition Company (NYSE: MJN) today announced its financial results for the quarter ended March 31, 2015.
Constant dollar sales(1) increased slightly more than 3 percent. Foreign currency translation reduced sales by 5 percent and reported sales decreased 2 percent. Gross margin improved to 64.0 percent, due to pricing and lower dairy costs. Non-GAAP EPS was up 7 percent to $1.09; GAAP EPS was $1.02. Company reaffirms full year 2015 non-GAAP guidance.We had a solid... More
