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J&J Reports Q1 2009

Posted: April 15, 2009

Johnson & Johnson announced sales of $15.0 billion for the first quarter of 2009, a decrease of 7.2% as compared to the first quarter of 2008. Operational results declined 1.2% and the negative impact of currency was 6.0%. Domestic sales declined 5.0%, while international sales declined 9.6%, reflecting operational growth of 3.0% and a negative currency impact of 12.6%. Net earnings for the first quarter of 2009 were $3.5 billion, representing a decrease of 2.5%, as compared to the same period in 2008.

However, the company reported that Listerine antiseptic mouthrinse and the Neutrogena and Aveeno skin care lines posted strong sales performances during the quarter. The recently completed acquisition of Dabao, a moisturizer sold in China, also contributed.

“Despite challenging economic and near-term business pressures, we continue to deliver solid financial results,” said William C. Weldon, chairman and CEO, J&J. “We are continuing to make strategic investments in order to bring important new products to market, positioning us well for long-term growth.”