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NJ Johnson & Johnson reports EPS in-line, misses on revs; lowers FY10 EPS below consensus
Reports Q2 (Jun) earnings of $1.21 per share, excluding non-recurring items, in-line with the Thomson Reuters consensus of $1.21; revenues rose 0.6% year/year to $15.33 bln vs the $15.64 bln consensus. Co lowers guidance for FY10, sees EPS of $4.65-4.75, excluding non-recurring items, vs. $4.81 Thomson Reuters consensus, down from $4.80-4.90 previously. "The co's guidance now reflects the impact of the voluntary recalls announced earlier this year of certain over-the-counter medicines and the suspension of manufacturing at the McNeil Consumer Healthcare facility in Fort Washington , Pa. , as well as unfavorable changes in foreign currency exchange rates." Q2 operational results increased 0.1% and the positive impact of currency was 0.5%. Domestic sales declined 2.8%, while international sales increased 4.1%, reflecting operational growth of 3.0% and a positive currency impact of 1.1%.
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