Johnson & Johnson (JNJ) has reported a 0.79 percent fall in profit for the quarter ended Apr. 02, 2017. The company has earned $4,422 million, or $1.61 a share in the quarter, compared with $4,457 million, or $1.59 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $5,038 million, or $1.83 a share compared with $4,854 million or $1.73 a share, a year ago.
Revenue during the quarter went up marginally by 1.62 percent to $17,766 million from $17,482 million in the previous year period. Gross margin for the quarter expanded 17 basis points over the previous year period to 69.68 percent. Total expenses were 69.05 percent of quarterly revenues, down from 69.50 percent for the same period last year. This has led to an improvement of 45 basis points in operating margin to 30.95 percent.
Operating income for the quarter was $5,498 million, compared with $5,332 million in the previous year period.
"Johnson & Johnson’s first-quarter results are in line with our expectations and we are confident we will achieve the full-year financial guidance we established at the beginning of the year," said Alex Gorsky, Chairman and Chief Executive Officer. "The pending acquisition of Actelion demonstrates our ongoing commitment to bringing innovation to patients with significant unmet needs, and provides a unique opportunity for us to expand our portfolio with leading, differentiated in-market medicines and promising late-stage products. We look forward to the associates from Actelion joining the Johnson & Johnson Family of Companies."
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