Johnson & Johnson posts small drop in 1Q profit

Johnson & Johnson posts small drop in 1Q profit - The Huffington Post

Tue, Apr 14th, 2009

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NEW BRUNSWICK, N.J. — Health care products maker Johnson & Johnson says its first-quarter profit dipped 2.5 percent as sales fell around the world.

The company also blames unfavorable currency exchange rates.

The maker of baby shampoo, contraceptives and biotech drugs _ seen as a bellwether for the overall economy _ says profit for the quarter amounted to $3.5 billion, or $1.26 per share. That's down from $3.6 billion in 2008's first-quarter, when earnings per share also amounted to $1.26.

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