The FINANCIAL — Johnson & Johnson announced sales of $17.9 billion for the second quarter of 2013, an increase of 8.5% as compared to the second quarter of 2012.
Operational results increased 10.0% and the negative impact of currency was 1.5%. Domestic sales increased 8.0%. International sales increased 9.0%, reflecting operational growth of 11.8% and a negative currency impact of 2.8%. Sales included the impact of the acquisition of Synthes, Inc., net of the divestiture of the DePuy trauma business. Excluding this impact, worldwide operational sales growth was 5.6%, according to Johnson & Johnson Services, Inc.
Net earnings and diluted earnings per share for the second quarter of 2013 were $3.8 billion and $1.33, respectively. The second quarter results included the gain on the sale of the equity interest owned in Elan Corporation, plc, as previously disclosed. Second quarter 2013 net earnings included after-tax special items of approximately $0.5 billion, related to litigation expenses, integration and transaction costs associated with the acquisition of Synthes, Inc, and program costs associated with the DePuy ASRTM Hip. Second quarter 2012 net earnings included after-tax special items of approximately $2.2 billion as shown in the accompanying reconciliation of non-GAAP financial measures. Excluding these special items, net earnings for the current quarter were $4.3 billion and diluted earnings per share were $1.48, representing increases of 17.7% and 13.8%, respectively, as compared to the same period in 2012, according to Johnson & Johnson Services, Inc.
“Our strong second-quarter results reflect the progress we’ve made against our near-term priorities of delivering on our financial commitments, restoring a reliable supply of over-the-counter products to consumers, continuing the successful integration of Synthes and building on the momentum in our pharmaceutical business,” said Alex Gorsky, Chairman and Chief Executive Officer. “Our talented colleagues at Johnson & Johnson continue to bring meaningful innovations to patients and consumers around the world and have positioned us well to deliver sustainable growth,” he added.
Discussion about this post