NEW BRUNSWICK (dpa-AFX) - Johnson & Johnson (JNJ) reported that its second-quarter net earnings decreased to $1.41 billion or $0.50 per share, from $2.78 billion or $1.00 per share in the same quarter last year.
Adjusted net earnings for the quarter rose to $3.64 billion or $1.30 per share, from $3.55 billion or $1.28 per share last year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.29 per share for the quarter. Analysts' estimates typically exclude special items.
Sales to customers for the quarter declined to $16.48 billion from $16.60 billion in the prior year quarter. Eighteen analysts had consensus revenue estimate of $16.69 billion for the quarter.
The company adjusted its earnings guidance for full-year 2012 to $5.00 - $5.07 per share. The company said its guidance excluded the impact of special items and reflects the negative impact of recent currency movements, partially offset by the positive contribution from the Synthes acquisition. While announcing the first-quarter result, the company had expected adjusted earnings per share of $5.07 to $5.17 per share.
Analysts expects the company to report earnings of $5.14 per share for fiscal 2012.
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