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UPDATE 1-J&J profit falls but beats forecasts, shares up

Tue Jul 14, 2009 8:04am EDT

Stocks

   

* J&J EPS $1.15/shr, above $1.11/shr forecast

* Revenues of $15.24 billion top forecast by $190 mln

* Shares up 1.6 pct in premarket

NEW YORK, July 14 (Reuters) - Johnson & Johnson's (JNJ.N) second-quarter earnings fell 4.7 percent, hurt by the stronger dollar and patent expirations on its drugs for schizophrenia and epilepsy, but profit and revenue beat analyst forecasts and shares rose 1.6 percent.

The diversified healthcare company, whose products range from Band-Aids to arthritis treatment Remicade, earned $3.21 billion, or $1.15 per share. That compared with $3.37 billion, or $1.18 per share, in the year-earlier period.

Analysts on average expected $1.11 per share, according to Reuters Estimates.

J&J's quarterly revenue of $15.24 billion was $190 million higher than the Reuters Estimates forecast.

The company reaffirmed its full-year profit forecast of $4.45 to $4.55 per share, which excludes special items.

Shares rose 93 cents to $98.65 in premarket trading. (Reporting by Ransdell Pierson; Editing by Derek Caney)



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