Johnson & Johnson Posts Sales Increase in 1Q 2019

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NEW BRUNSWICK, N.J.—Johnson & Johnson (NYSE: JNJ) reported sales of $20.02 billion for the first quarter ended March 31, 2019, reflecting growth of 0.1 percent, operational growth of 3.9 percent and adjusted operational growth of 5.5 percent increase. The increases were driven in part by strong sales of Acuvue contact lenses by its vision business, J&J said. The health care conglomerate said net profit fell to $3.75 billion from $4.37 billion in the prior year. “Our strong first-quarter results reflect continued underlying operational sales and adjusted earnings per share (EPS) growth,” said Alex Gorsky, chairman and CEO.

“At the same time, we remain focused on investing in innovative technologies and platforms that will make a meaningful difference in the lives of patients around the world. I am proud of our global colleagues’ collective efforts to deliver on our long-term goals and our ability to create value for all of our stakeholders,” he said.

In the U.S., Johnson & Johnson posted sales of $10.13 billion in the first quarter, up 1.8 percent from a year ago. International sales slipped 1.7 percent, to $9.89 billion.

Johnson & Johnson’s medical devices unit saw a 4.6 percent decrease in sales, to $6.46 billion. However, sales for the company’s vision care unit, which is part of its medical device business, rose to $1.13 billion, up 1.2 percent from a year ago, excluding the currency effect. U.S. vision care sales increased by 1.5 percent from a year ago, to $446 million.

Contact lens sales rose 2.1 percent worldwide, to $824 million, excluding the currency effect. Domestic sales of contact lenses rose 4.1 percent, to $321 million.