Johnson & Johnson Reports 2009 Fourth-Quarter and Full-Year Results:
NEW BRUNSWICK, N.J., Jan. 26 Johnson & Johnson today appear sales of $16.6 billion for the fourth division of 2009, an access of 9.0% as compared to the fourth division of 2008. Operational advance was 4.5% and bill contributed 4.5%. Domestic sales were up 2.6%, while all-embracing sales added 15.6%, absorption operational advance of 6.4% and a absolute bill appulse of 9.2%. Worldwide sales for the full-year 2009 were $61.9 billion, a abatement of 2.9% over 2008. Operational after-effects beneath 0.3% and the abrogating appulse of bill was 2.6%. Domestic sales beneath 4.4%, while all-embracing sales beneath 1.4%, absorption operational advance of 3.9% and a abrogating bill appulse of 5.3%.
Net balance and adulterated balance per allotment for the fourth division of 2009 were $2.2 billion and $0.79 respectively. Fourth division 2009 net balance included an after-tax restructuring allegation of $852 million and an after-tax accretion of $212 million apery the net appulse of action matters. Fourth division 2008 net balance included appropriate items accompanying to in-process analysis and development accuse of $141 million with no tax account and an after-tax accretion of $229 million apery the net appulse of action matters. Excluding these appropriate items, net balance for the accepted division were $2.8 billion and adulterated balance per allotment were $1.02, apery increases of 8.4% and 8.5%, respectively, as compared to the aforementioned aeon in 2008.*
Net balance and adulterated balance per allotment for the full-year 2009 were $12.3 billion and $4.40. Full-year 2009 net balance included an after-tax restructuring allegation of $852 million and an after-tax accretion of $212 million apery the net appulse of action matters. Full-year 2008 net balance included appropriate items accompanying to in-process analysis and development accuse of $181 million with no tax account and an after-tax accretion of $229 million apery the net appulse of action matters. Excluding these appropriate items, net balance for the full-year 2009 were $12.9 billion. Diluted balance per allotment for the full-year 2009 were $4.63, apery an access of 1.8%, as compared with the full-year in 2008.*
The Company appear balance advice for full-year 2010 of $4.85 to $4.95 per share, which excludes the appulse of appropriate items.
“In a year of amazing challenge, we maintained our abiding focus while carrying solid after-effects — a abundant accolade to the advisers of Johnson & Johnson,” said William C. Weldon, Chairman and Chief Executive Officer. “We fabricated important investments in acquisitions, cardinal partnerships and launches of recently-approved avant-garde articles while attention our banking adaptability to abide to advance in innovation. This positions us able-bodied for connected administration and advance in all-around bloom affliction as we access 2010.”
Worldwide Consumer sales of $15.8 billion for the full-year 2009 represented a abatement of 1.6% over the above-mentioned year with operational advance of 2.0% and a abrogating bill appulse of 3.6%. Domestic sales decreased 1.4%; all-embracing sales decreased 1.7%, which reflected operational advance of 4.7% and a abrogating bill appulse of 6.4%.
Primary contributors to operational advance included NEUTROGENA®, AVEENO® and the Dabao derma affliction products; all-embracing sales of LISTERINE® antibacterial mouthrinse; SPLENDA® No Calorie Sweetener; and sales from the accretion of Vania Expansion SNC. Sales advance was abnormally impacted due to the antecedent body of account by the barter accompanying to the 2008 barrage of Zyrtec.
Worldwide Pharmaceutical sales of $22.5 billion for the full-year 2009 represented a abatement of 8.3% against the above-mentioned year with an operational abatement of 6.1% and a abrogating appulse from bill of 2.2%. Domestic sales decreased 12.1%; all-embracing sales decreased 2.6%, which reflected an operational access of 3.0% and a abrogating bill appulse of 5.6%.
Products with able operational advance included REMICADE® (infliximab), a biologic accustomed for the analysis of a amount of allowed advised anarchic diseases; PREZISTA® (darunavir), a analysis for HIV; VELCADE® (bortezomib), a analysis for assorted myeloma; and RISPERDAL® CONSTA® (risperidone) Long-Acting Treatment, an antipsychotic medication.
Sales after-effects of TOPAMAX® (topiramate), an antiepileptic and a analysis for migraine, and RISPERDAL® (risperidone), an antipsychotic medication, were abnormally impacted by all-encompassing competition.
During the quarter, the Company submitted a New Drug Application to the U.S. Food and Drug Administration (FDA) for tapentadol continued absolution tablets, an investigational articulate analgesic for the administration of abstinent to astringent abiding affliction in patients 18 years of age or older. In addition, the Company submitted a Marketing Authorization Application to the European Medicines Agency for paliperidone palmitate, a once-monthly aberant antipsychotic intramuscular bang for the analysis of adults with schizophrenia.
Worldwide Medical Devices and Diagnostics sales of $23.6 billion for the full-year 2009 represented an access of 1.9% against the above-mentioned year with an operational access of 4.2% and a abrogating appulse from bill of 2.3%. Domestic sales added 4.5%; all-embracing sales decreased 0.2%, which reflected an operational access of 4.0% and a abrogating bill appulse of 4.2%.
Primary contributors to operational advance included Ethicon’s surgical affliction and aesthetics products; DePuy’s orthopaedic collective reconstruction, spine, and sports anesthetic businesses; Ethicon Endo-Surgery’s minimally invasive products; and Ortho-Clinical Diagnostics’ able products. This advance was partially account by lower sales in the Cordis franchise, absorption connected antagonism in the drug-eluting stent market.
During the quarter, the Company entered into a absolute acceding to access Acclarent, Inc., a abreast captivated medical technology aggregation committed to designing, developing and commercializing accessories that abode altitude affecting the ear, adenoids and throat. On January 20, 2010, the accretion of Acclarent was completed. Also in the quarter, the Company completed the acquisitions of Finsbury Orthopaedics Limited, a abreast captivated UK-based architect and all-around benefactor of orthopaedic implants, and Gloster Europe, a abreast captivated developer of avant-garde ablution processes and technologies to anticipate healthcare-acquired infections.
The Company aswell appear that it had accustomed FDA approval for business the CARTO® 3 System, the a lot of beat three-dimensional imaging technology for use by electrophysiologists in alleviative cardiac arrhythmias, frequently referred to as aberrant affection rhythms.
About Johnson & Johnson
Caring for the world, one being at a time…inspires and unites the humans of Johnson & Johnson. We embrace analysis and science – bringing avant-garde ideas, articles and casework to advanced the bloom and abundance of people. Our 115,000 advisers at added than 250 Johnson & Johnson companies plan with ally in bloom affliction to blow the lives of over a billion humans every day, throughout the world.
* Net balance and adulterated balance per allotment excluding appropriate items, such as after-tax restructuring charges, the net appulse of action assets and in-process analysis and development charges, are non-GAAP banking measures and should not be advised replacements for GAAP results. A adaptation of these non-GAAP banking measures to the a lot of anon commensurable GAAP banking measures can be begin in the Investor Relations area of the Company’s website at www.jnj.com.
NOTE TO INVESTORS
Johnson & Johnson will conduct a affair with associates of the investment association to altercate this account absolution today at 8:30 a.m., Eastern Time. A accompanying webcast of the affair for investors and added absorbed parties may be accessed by visiting the Johnson & Johnson website at www.investor.jnj.com. A epitomize and podcast will be accessible about two hours afterwards the abide webcast by visiting www.investor.jnj.com.
Copies of the banking schedules accompanying this columnist absolution are accessible at www.investor.jnj.com/historical-sales.cfm. The schedules cover added sales data, a abridged circumscribed account of earnings, sales of key products/franchises and a biologic activity of called compounds in backward date development. Additional advice on Johnson & Johnson can be begin on the Company’s website at www.jnj.com.
(This columnist absolution contains “forward-looking statements” as authentic in the Private Securities Litigation Reform Act of 1995. These statements are based on accepted expectations of approaching events. If basal assumptions prove inaccurate or alien risks or uncertainties materialize, absolute after-effects could alter materially from Johnson & Johnson’s expectations and projections. Risks and uncertainties cover accepted industry altitude and competition; bread-and-butter conditions, such as absorption amount and bill barter amount fluctuations; abstruse advances and patents accomplished by competitors; challenges inherent in new artefact development, including accepting authoritative approvals; calm and adopted bloom affliction reforms and authoritative laws and regulations; and trends against bloom affliction amount containment. A added account and description of these risks, uncertainties and added factors can be begin in Exhibit 99 of the Company’s Annual Report on Form 10-K for the budgetary year concluded December 28, 2008. Copies of this Form 10-K, as able-bodied as consecutive filings, are accessible online at www.sec.gov, www.jnj.com or on appeal from Johnson & Johnson. Johnson & Johnson does not undertake to amend any advanced statements as a aftereffect of new advice or approaching contest or developments.)
|
Johnson & Johnson and Subsidiaries Supplementary Sales Data |
||||||||||||||||||||
|
(Unaudited; Dollars in Millions) |
FOURTH QUARTER* |
TWELVE MONTHS** |
||||||||||||||||||
|
Percent Change |
Percent Change |
|||||||||||||||||||
|
2009 |
2008 |
Total |
Operations |
Currency |
2009 |
2008 |
Total |
Operations |
Currency |
|||||||||||
|
Sales to barter by |
||||||||||||||||||||
|
segment of business |
||||||||||||||||||||
|
Consumer |
||||||||||||||||||||
|
U.S. |
$ 1,712 |
1,655 |
3.4 |
% |
3.4 |
- |
$ 6,837 |
6,937 |
(1.4) |
% |
(1.4) |
- |
||||||||
|
International |
2,537 |
2,200 |
15.3 |
6.5 |
8.8 |
8,966 |
9,117 |
(1.7) |
4.7 |
(6.4) |
||||||||||
|
4,249 |
3,855 |
10.2 |
5.2 |
5.0 |
15,803 |
16,054 |
(1.6) |
2.0 |
(3.6) |
|||||||||||
|
Pharmaceutical |
||||||||||||||||||||
|
U.S. |
3,338 |
3,430 |
(2.7) |
(2.7) |
- |
13,041 |
14,831 |
(12.1) |
(12.1) |
- |
||||||||||
|
International |
2,655 |
2,255 |
17.7 |
8.0 |
9.7 |
9,479 |
9,736 |
(2.6) |
3.0 |
(5.6) |
||||||||||
|
5,993 |
5,685 |
5.4 |
1.6 |
3.8 |
22,520 |
24,567 |
(8.3) |
(6.1) |
(2.2) |
|||||||||||
|
Med Devices & Diagnostics |
||||||||||||||||||||
|
U.S. |
2,817 |
2,582 |
9.1 |
9.1 |
- |
11,011 |
10,541 |
4.5 |
4.5 |
- |
||||||||||
|
International |
3,492 |
3,060 |
14.1 |
4.9 |
9.2 |
12,563 |
12,585 |
(0.2) |
4.0 |
(4.2) |
||||||||||
|
6,309 |
5,642 |
11.8 |
6.8 |
5.0 |
23,574 |
23,126 |
1.9 |
4.2 |
(2.3) |
|||||||||||
|
U.S. |
7,867 |
7,667 |
2.6 |
2.6 |
- |
30,889 |
32,309 |
(4.4) |
(4.4) |
- |
||||||||||
|
International |
8,684 |
7,515 |
15.6 |
6.4 |
9.2 |
31,008 |
31,438 |
(1.4) |
3.9 |
(5.3) |
||||||||||
|
Worldwide |
$ 16,551 |
15,182 |
9.0 |
% |
4.5 |
4.5 |
$ 61,897 |
63,747 |
(2.9) |
% |
(0.3) |
(2.6) |
||||||||
|
*Fourth Quarter 2009 includes fourteen weeks and 2008 includes thirteen weeks. |
||||||||||||||||||||
|
**Twelve Months 2009 includes fifty-three weeks and 2008 includes fifty-two weeks. |
||||||||||||||||||||
|
Johnson & Johnson and Subsidiaries Supplementary Sales Data |
||||||||||||||||||||
|
(Unaudited; Dollars in Millions) |
FOURTH QUARTER* |
TWELVE MONTHS** |
||||||||||||||||||
|
Percent Change |
Percent Change |
|||||||||||||||||||
|
2009 |
2008 |
Total |
Operations |
Currency |
2009 |
2008 |
Total |
Operations |
Currency |
|||||||||||
|
Sales to barter by |
||||||||||||||||||||
|
geographic area |
||||||||||||||||||||
|
U.S. |
$ 7,867 |
7,667 |
2.6 |
% |
2.6 |
- |
$ 30,889 |
32,309 |
(4.4) |
% |
(4.4) |
- |
||||||||
|
Europe |
4,412 |
3,851 |
14.6 |
5.1 |
9.5 |
15,934 |
16,782 |
(5.1) |
2.1 |
(7.2) |
||||||||||
|
Western Hemisphere excluding U.S. |
1,541 |
1,187 |
29.8 |
19.0 |
10.8 |
5,156 |
5,173 |
(0.3) |
8.8 |
(9.1) |
||||||||||
|
Asia-Pacific, Africa |
2,731 |
2,477 |
10.3 |
2.3 |
8.0 |
9,918 |
9,483 |
4.6 |
4.4 |
0.2 |
||||||||||
|
International |
8,684 |
7,515 |
15.6 |
6.4 |
9.2 |
31,008 |
31,438 |
(1.4) |
3.9 |
(5.3) |
||||||||||
|
Worldwide |
$ 16,551 |
15,182 |
9.0 |
% |
4.5 |
4.5 |
$ 61,897 |
63,747 |
(2.9) |
% |
(0.3) |
(2.6) |
||||||||
|
*Fourth Quarter 2009 includes fourteen weeks and 2008 includes thirteen weeks. |
||||||||||||||||||||
|
**Twelve Months 2009 includes fifty-three weeks and 2008 includes fifty-two weeks. |
||||||||||||||||||||
|
Johnson & Johnson and Subsidiaries Condensed Consolidated Statement of Earnings |
||||||||||
|
(Unaudited; in Millions Except Per Share Figures) |
FOURTH QUARTER |
|||||||||
|
2009 |
2008 |
Percent |
||||||||
|
Percent |
Percent |
Increase |
||||||||
|
Amount |
to Sales |
Amount |
to Sales |
(Decrease) |
||||||
|
Sales to customers |
$ 16,551 |
100.0 |
$ 15,182 |
100.0 |
9.0 |
|||||
|
Cost of articles sold |
5,312 |
32.1 |
4,372 |
28.8 |
21.5 |
|||||
|
Selling, business and accurate expenses |
5,629 |
34.0 |
5,665 |
37.3 |
(0.6) |
|||||
|
Research expense |
2,213 |
13.4 |
2,108 |
13.9 |
5.0 |
|||||
|
In-process analysis & development (IPR&D) |
- |
- |
141 |
0.9 |
||||||
|
Interest (income)expense, net |
81 |
0.5 |
17 |
0.1 |
||||||
|
Other (income)expense, net |
(361) |
(2.2) |
(638) |
(4.2) |
||||||
|
Restructuring expense |
1,073 |
6.5 |
- |
- |
||||||
|
Earnings afore accouterment for taxes on income |
2,604 |
15.7 |
3,517 |
23.2 |
(26.0) |
|||||
|
Provision for taxes on income |
398 |
2.4 |
803 |
5.3 |
(50.4) |
|||||
|
Net earnings |
$ 2,206 |
13.3 |
$ 2,714 |
17.9 |
(18.7) |
|||||
|
$ 0.79 |
$ 0.97 |
(18.6) |
||||||||
|
Average shares outstanding (Diluted) |
2,796.5 |
2,801.6 |
||||||||
|
Effective tax rate |
15.3 |
% |
22.8 |
% |
||||||
|
Adjusted balance afore accouterment for taxes and net earnings |
||||||||||
|
Earnings afore accouterment for taxes on income |
$ 3,404 |
(1) |
20.6 |
$ 3,279 |
(2) |
21.6 |
3.8 |
|||
|
Net earnings |
$ 2,846 |
(1) |
17.2 |
$ 2,626 |
(2) |
17.3 |
8.4 |
|||
|
$ 1.02 |
(1) |
$ 0.94 |
(2) |
8.5 |
||||||
|
Effective tax rate |
16.4% |
19.9% |
||||||||
|
(1) The aberration amid as appear balance and as adapted balance afore accouterment for taxes on income, net balance and net balance per allotment (diluted) is the exclusion of restructuring amount of $1,186 actor ($1,073 actor restructuring amount and $113 actor accompanying to restructuring included in amount of articles sold), $852 actor and $0.31 per share, respectively, and the exclusion of assets from net action of $386 million, $212 actor and $0.08 per share, respectively. |
||||||||||
|
(2) The aberration amid as appear balance and as adapted balance afore accouterment for taxes on income, net balance and net balance per allotment (diluted) is the exclusion of IPR&D of $141 actor with no tax account and $0.05 per share, respectively, and the exclusion of assets from net action of $379 million, $229 actor and $0.08 per share, respectively. |
||||||||||
|
Johnson & Johnson and Subsidiaries Condensed Consolidated Statement of Earnings |
||||||||||
|
(Unaudited; in Millions Except Per Share Figures) |
TWELVE MONTHS |
|||||||||
|
2009 |
2008 |
Percent |
||||||||
|
Percent |
Percent |
Increase |
||||||||
|
Amount |
to Sales |
Amount |
to Sales |
(Decrease) |
||||||
|
Sales to customers |
$ 61,897 |
100.0 |
$ 63,747 |
100.0 |
(2.9) |
|||||
|
Cost of articles sold |
18,447 |
29.8 |
18,511 |
29.1 |
(0.3) |
|||||
|
Selling, business and accurate expenses |
19,801 |
32.0 |
21,490 |
33.7 |
(7.9) |
|||||
|
Research expense |
6,986 |
11.3 |
7,577 |
11.9 |
(7.8) |
|||||
|
In-process analysis & development (IPR&D) |
- |
- |
181 |
0.3 |
||||||
|
Interest (income)expense, net |
361 |
0.6 |
74 |
0.1 |
||||||
|
Other (income)expense, net |
(526) |
(0.8) |
(1,015) |
(1.6) |
||||||
|
Restructuring expense |
1,073 |
1.7 |
- |
- |
||||||
|
Earnings afore accouterment for taxes on income |
15,755 |
25.4 |
16,929 |
26.5 |
(6.9) |
|||||
|
Provision for taxes on income |
3,489 |
5.6 |
3,980 |
6.2 |
(12.3) |
|||||
|
Net earnings |
$ 12,266 |
19.8 |
$ 12,949 |
20.3 |
(5.3) |
|||||
|
$ 4.40 |
$ 4.57 |
(3.7) |
||||||||
|
Average shares outstanding (Diluted) |
2,789.1 |
2,835.6 |
||||||||
|
Effective tax rate |
22.1 |
% |
23.5 |
% |
||||||
|
Adjusted balance afore accouterment for taxes and net earnings |
||||||||||
|
Earnings afore accouterment for taxes on income |
$ 16,555 |
(1) |
26.7 |
$ 16,731 |
(2) |
26.2 |
(1.1) |
|||
|
Net earnings |
$ 12,906 |
(1) |
20.9 |
$ 12,901 |
(2) |
20.2 |
- |
|||
|
$ 4.63 |
(1) |
$ 4.55 |
(2) |
1.8 |
||||||
|
Effective tax rate |
22.0% |
22.9% |
||||||||
|
(1) The aberration amid as appear balance and as adapted balance afore accouterment for taxes on income, net balance and net balance per allotment (diluted) is the exclusion of restructuring amount of $1,186 actor ($1,073 actor restructuring amount and $113 actor accompanying to restructuring included in amount of articles sold), $852 actor and $0.31 per share, respectively, and the exclusion of assets from fourth division net action of $386 million, $212 actor and $0.08 per share, respectively. |
||||||||||
|
(2) The aberration amid as appear balance and as adapted balance afore accouterment for taxes on income, net balance and net balance per allotment (diluted) is the exclusion of IPR&D of $181 actor with no tax account and $0.06 per share, respectively, and the exclusion of assets from fourth division net action of $379 million, $229 actor and $0.08 per share, respectively. |
||||||||||
Please go to www.jnj.com for the Sales of Key Products charts.
SOURCE Johnson & Johnson
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