Tags: US | Earns | Johnson | & | Johnson

J&J Posts Profit Jumps 29 Percent on One Time Gain

Tuesday, 20 Apr 2010 08:01 AM

The world's biggest maker of health care products is on the mend, with a slight increase in sales and profit after the recession dragged results down last year.

Johnson & Johnson says its first-quarter profit is up 29 percent, to $4.53 billion, but that's mainly due to a one-time gain from litigation. That profit represents earnings of $1.62 per share, or $1.29 excluding the gain.

The New Brunswick, N.J.-based maker of biologic drugs, Band-Aids and baby shampoo says sales were up 4 percent, to $15.63 billion.

The results are slightly better than experts' forecasts.

Analysts polled by Thomson Reuters expected J&J to earn $1.27 per share on sales of $15.6 billion.

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