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news.Johnson & Johnson (J&J) has reported sales of $15.6bn for the first quarter of 2010, an increase of 4%, compared to $15.02bn for the comparable period in 2009, due to favorable currency exchange rates.
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Domestic sales declined 5%, while international sales increased 14.4%, reflecting operational growth of 5.5% and a positive currency impact of 8.9%.
Johnson & Johnson posted a net income of $4.5bn, or $1.62 per diluted share, for the first quarter 2010, compared to $3.5bn, or $1.26 per diluted share, for the prior year period.
Net earnings and diluted earnings per share were $4.5bn and $1.62, respectively. First-quarter 2010 net earnings included an after-tax gain of $910m representing the net impact of litigation matters.
Excluding this special item, net earnings for the current quarter were $3.6bn and diluted earnings per share were $1.29, representing increases of 3.1% and 2.4%, respectively, as compared to the same period in 2009.
William Weldon, chairman and CEO of J&J, said: “Thanks to the outstanding efforts of our people, we were able to deliver solid financial results. This was accomplished despite a major product recall and the continued impact of patent expirations. We are well positioned for future growth.”