logo
  Join        Login             Stock Quote

Johnson & Johnson (JNJ) To Incur Charge In Q1 Due To Venezuelan Currency Devaluation

 February 25, 2013 08:17 AM
 


(By Balaseshan) Johnson & Johnson (NYSE: JNJ) said it expects to incur a charge in the first quarter of 2013 due to the Venezuelan government's decision to devalue its currency effective Feb. 13, 2013.

The New Brunswick, New Jersey-based healthcare company will incur a charge of about $100 million to net income in the first quarter or about a $0.04 negative impact to earnings per share.

The company said this charge is related to the remeasurement of the local balance sheet at the date of the devaluation and is not expected to impact EPS guidance for full-year 2013, which was guided on January 22 in the range of $5.35 to $5.45.

[Related -Can Abbvie Inc (NYSE:ABBV) Trump Gilead Sciences, Inc.'S (NASDAQ:GILD) HCV Lead?]

On Friday, the company posted better-than-expected quarterly earnings amid strong growth of key products and launch of new products though the healthcare company issued guidance below market expectations.

On an adjusted basis, earnings per share (EPS) increased 5.3 percent to $1.19 from $1.13, topping Wall Street projections of $1.17 for the fourth quarter. GAAP earnings jumped to $2.57 billion from $218 million.

Sales grew 8 percent to $17.56 billion, slightly below consensus estimates for an increase of 8.70 percent. The company attributed higher quarterly sales to sales of upper respiratory over-the-counter products, international sales of LISTERINE oral care products and NEUTROGENA skin care products.

JNJ closed Friday's regular session down 0.01 percent at $76.25. The stock has been trading between $61.71 and $77.02 for the past 52 weeks.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageWill The Real U.S. Market Please Reveal Itself?

Is it the small stock Russell 2000, in a pattern of rally attempts failing at lower highs since its March read on...

article imageTime To Chase Bill Gross?

Jason Zweig at the Wall Street Journal had a very good piece on whether to follow Bill Gross as he goes read on...

article imageA Bullish Sign For Uranium Could Send This Stock Soaring

On March 11, 2011, a massive 9.0-magnitude earthquake erupted about 45 miles east of the Japanese coast. read on...

article imageBanks' LCR-based Demand For Treasuries Moderates

One of the factors contributing to treasury market's strong performance this year has been the Liquidity read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center

Related Articles:

For Maximum Total Return Go For Growth
More Articles on: Medical



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.