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Business Briefing / Earnings

J&J profit beats expectations

July 15, 2009|Times Wire Reports

Johnson & Johnson's profit fell less than expected as sales of Listerine mouthwash and Neutrogena skin cleaners helped offset loss of drug revenue to generic competition.

Net income dropped 3.6% to $3.21 billion, or $1.15 a share, in the second quarter from $3.33 billion, or $1.17, a year earlier, the New Brunswick, N.J., company said. Adjusted earnings of $1.15 a share beat by 3 cents the average forecast in a survey of 14 analysts.

J&J affirmed its 2009 earnings forecast of $4.45 to $4.55 a share, excluding adjustments from special items.

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