Early Access

10-QPeriod: Q3 FY2010

JOHNSON & JOHNSON Quarterly Report for Q3 Ended Jul 4, 2010

Filed August 11, 2010For Securities:JNJ

Summary

Johnson & Johnson reported solid performance for the period ending July 4, 2010, with total sales reaching $30.96 billion for the first six months, a 2.3% increase year-over-year. This growth was primarily driven by international markets, which saw a 9.0% increase in sales, partially offset by a 3.9% decline in U.S. sales. The company's pharmaceutical segment demonstrated resilience, with a 1.0% increase in sales for the quarter and a slight decrease for the six-month period, supported by strong performance in key products like REMICADE® and RISPERDAL® CONSTA®. The Medical Devices & Diagnostics segment was a significant growth driver, posting an 8.2% increase in sales for the six months, fueled by strong performance in DePuy, Ethicon Endo-Surgery, and Ethicon. However, the Consumer segment experienced a 2.0% sales decline for the six-month period, impacted by product recalls and a suspension of production at a key facility. Net earnings for the quarter were $3.45 billion, or $1.23 per diluted share, showing an improvement from the prior year's quarter. The company also continued its commitment to shareholder returns, increasing its cash dividend.

Financial Highlights

53 data points
Beta

Revenue

$15.33B

0.7% Gross Margin

Net Income

$3.45B

0.2% Net Margin

EPS (Diluted)

$1.23

Total Assets

$92.30B

Cash & Equivalents

$12.71B

Free Cash Flow

$3.34B

Financial Statements
Beta
Revenue$15.33B
Cost of Revenue$4.63B
Gross Profit$10.70B
SG&A Expenses$4.76B
Operating Income$4.38B
Interest Expense$101.00M
Net Income$3.45B
EPS (Basic)$1.25
EPS (Diluted)$1.23
Shares Outstanding (Basic)2.76B
Shares Outstanding (Diluted)2.80B

Key Highlights

  • 1Total sales for the first six months of 2010 increased by 2.3% to $30.96 billion, driven by international growth.
  • 2The Medical Devices & Diagnostics segment showed robust growth, with sales up 8.2% for the six-month period.
  • 3Pharmaceutical segment sales experienced a slight 0.8% decrease for the six months, but grew 1.0% in the second quarter, indicating stability.
  • 4The Consumer segment faced challenges, with sales down 2.0% for the six months, impacted by product recalls and facility issues.
  • 5Net earnings for the second quarter of 2010 were $3.45 billion, an increase from $3.21 billion in the same quarter of the previous year.
  • 6Diluted earnings per share for the second quarter were $1.23, up from $1.15 in the prior year's quarter.
  • 7The company continued its dividend growth, increasing the quarterly cash dividend by 10.2% and marking the 48th consecutive year of increases.

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