Johnson & Johnson, parent company of the stentmaker Cordis, has reported a slightly higher net income, despite a decrease in sales in the third quarter of 2009, which ended Sept. 30.
The New Brunswick, N.J.-company booked sales of $15.1 billion for the 2009 third quarter, a decrease of 5.3 percent, as compared to the third quarter of 2008. Operational results declined 2.8 percent. Domestic sales declined 8.1 percent, while international sales declined 2.5 percent, reflecting operational growth of 2.4 percent.
Net earnings and diluted earnings per share for the third quarter of 2009 were $3.3 billion, representing an increase of 1.1 percent compared to the same period in 2008.
Its worldwide medical devices and diagnostics sales of $5.8 billion for the third quarter represented an increase of 2.3 percent versus the prior year with an operational increase of 4.1 percent and a negative currency impact of 1.8 percent, J &J said. U.S. sales increased 4.5 percent; international sales increased 0.5 percent, which reflected an operational increase of 3.8 percent and a negative currency impact of 3.3 percent.
According to the company, primary contributors to the operational growth were medical devices and diagnostics sales which included Ethicon’s surgical care and minimally invasive products; DePuy’s orthopedic products and Ortho-Clinical Diagnostics’ professional products.
This growth was partially offset by lower sales in the Cordis franchise, “reflecting strong competition in the drug-eluting stent market,” J &J said.