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Johnson & Johnson 3rd-quarter profit decreases on 528 million dollars

Johnson&Johnson’s 3rd quarter profit fell about 8 percent because of charges for cutting jobs, primarily in its stent-making and pharmaceuticals businesses.

The company earned $2.55 billion (EUR1.8 billion), or 88 cents per share, compared with a profit of $2.76 billion, or 94 cents per share during the same period a year prior.

Revenue rose to $14.97 billion (EUR10.6 billion) from $13.29 billion, helped by strong results in international markets.

In July, J&J said it would reduce its global work force by up to 4 percent, or up to 4,820 jobs, to cut costs due to slumping sales of heart stents and its No. 2 drug, plus looming patent expirations. The third-quarter results include a related $528 million (EUR373.14 million) charge. Excluding that, J&J posted earnings of $1.06 per share.

Analysts polled by Thomson Financial expected profit of 99 cents per share on revenue of $14.84 billion (EUR10.5 billion).

The company increased its earnings guidance for the full-year to between $4.10 and $4.13 per share from between $4.02 to $4.07 per share. The guidance excludes restructuring charges and special items.

Ukrainian bloggers draw a parallel between the events in East Timor and the Crimea. Any comparison has a right to exist, but a detailed analysis of the situation does not give a promising forecast to Ukraine

Ukraine dreams of what it can do to Crimea after winning war with Russia
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Ukraine dreams of what it can do to Crimea after winning war with Russia
The Sham called Democracy
Ukraine dreams of what it can do to Crimea after winning war with Russia
Ukraine dreams of what it can do to Crimea after winning war with Russia
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