Johnson & Johnson Reports Operating Results (10-Q)

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Nov 10, 2010
Johnson & Johnson (JNJ, Financial) filed Quarterly Report for the period ended 2010-10-03.

Johnson & Johnson has a market cap of $177.14 billion; its shares were traded at around $64.31 with a P/E ratio of 13.5 and P/S ratio of 2.9. The dividend yield of Johnson & Johnson stocks is 3.4%. Johnson & Johnson had an annual average earning growth of 10.8% over the past 10 years. GuruFocus rated Johnson & Johnson the business predictability rank of 4.5-star.JNJ is in the portfolios of Prem Watsa of Fairfax Financial Holdings, Inc., Tweedy Browne of Tweedy Browne CO LLC, Tweedy Browne of Tweedy Browne CO LLC, Warren Buffett of Berkshire Hathaway, Donald Yacktman of Yacktman Asset Management Co., Bill Frels of Mairs & Power Inc. , Chris Davis of Davis Selected Advisers, David Tepper of APPALOOSA MANAGEMENT LP, Tom Gayner of Markel Gayner Asset Management Corp, Edward Owens of Vanguard Health Care Fund, Jeremy Grantham of GMO LLC, Bill Nygren of Oak Mark Fund, Diamond Hill Capital of Diamond Hill Capital Management Inc, Richard Pzena of Pzena Investment Management LLC, John Hussman of Hussman Economtrics Advisors, Inc., James Barrow of Barrow, Hanley, Mewhinney & Strauss, Kenneth Fisher of Fisher Asset Management, LLC, Brian Rogers of T Rowe Price Equity Income Fund, Jeff Auxier of Auxier Focus Fund, Richard Perry of Perry Capital, Robert Olstein of Olstein Financial Alert Fund, John Buckingham of Al Frank Asset Management, Inc., Jean-Marie Eveillard of First Eagle Investment Management, LLC, Michael Price of MFP Investors LLC, Bruce Kovner of Caxton Associates, First Pacific Advisors of First Pacific Advisors, LLC, Mark Hillman of Hillman Capital Management, Pioneer Investments, PRIMECAP Management, Mario Gabelli of GAMCO Investors, PRIMECAP Management, Jim Simons of Renaissance Technologies LLC, Ruane Cunniff of Ruane & Cunniff & Goldfarb Inc, HOTCHKIS & WILEY of HOTCHKIS & WILEY Capital Management LLC, John Rogers of ARIEL CAPITAL MANAGEMENT LLC, Manning & Napier Advisors, Inc, Murray Stahl of Horizon Asset Management, Arnold Van Den Berg of Century Management, Tom Russo of Gardner Russo & Gardner, George Soros of Soros Fund Management LLC, Richard Aster Jr of Meridian Fund, Richard Aster Jr of Meridian Fund, Richard Snow of Snow Capital Management, L.P., Steven Cohen of SAC Capital Advisors, Dodge & Cox.

Highlight of Business Operations:

Sales by companies in Europe achieved growth of 0.4%, including operational growth of 2.6% and a negative impact from currency of 2.2%. Sales by companies in the Western Hemisphere, excluding the U.S., achieved growth of 12.8% including operational growth of 2.5% and a positive impact from currency of 10.3%. Sales by companies in the Asia-Pacific, Africa region achieved sales growth of 12.4%, including operational growth of 5.9% and an increase of 6.5% related to the positive impact of currency.

Sales by companies in Europe experienced a sales decline of 6.4%, including operational growth of 1.8% and a negative impact from currency of 8.2%. Sales by companies in the Western Hemisphere, excluding the U.S., achieved growth of 6.4% including operational growth of 1.7% and a positive impact from currency of 4.7%. Sales by companies in the Asia-Pacific, Africa region achieved growth of 9.7%, including operational growth of 4.1% and a positive impact from currency of 5.6%.

Consumer segment sales in the fiscal nine months of 2010 were $11.0 billion, a decrease of 5.0% as compared to the same period a year ago, including an operational decline of 6.9% and a positive currency impact of 1.9%. U.S. Consumer segment sales declined by 16.1% while international sales growth of 3.9%, included operational growth of 0.5% and a positive currency impact of 3.4%.

Consumer segment sales in the fiscal third quarter of 2010 were $3.6 billion, a decrease of 10.6% over the same period a year ago, including an operational decline of 10.2% and a negative currency impact of 0.4%. U.S. Consumer segment sales declined by 24.5%. International Consumer segment sales declined by 0.3%, including operational growth of 0.4%, and a negative currency impact of 0.7%.

Medical Devices and Diagnostics segment sales in the fiscal nine months of 2010 were $18.2 billion, an increase of 5.9% as compared to the same period a year ago, with 4.5% of this change due to operational increases and an increase of 1.4% related to the positive impact of currency. The U.S. Medical Devices and Diagnostics sales increase was 4.4% as compared to the prior year. International Medical Devices and Diagnostics sales increase of 7.2% included operational increases of 4.5% and an increase of 2.7% related to the positive impact of currency.

Medical Devices and Diagnostics segment sales in the fiscal third quarter of 2010 were $5.9 billion, an increase of 1.3% as compared to the same period a year ago, with 1.9% of this change due to operational increases and a negative currency impact of 0.6%. The U.S. Medical Devices and Diagnostics sales growth was 1.2% and the increase in international Medical Devices and Diagnostics sales was 1.4%, which included operational increases of 2.6% and a negative currency impact of 1.2%.

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