Contact lens firm posts one per cent profit

Contact lens firm posts one per cent profit

By Adrian Galbreth

Johnson & Johnson, the contact lens manufacturer, has released financial data for the third quarter of the year.

It has made a one per cent increase in its net income for the period in the US.

This means the figure was $3.35 billion (£2.1 billion).

At $1.20 (£0.76) per share, this was seven cents higher than experts had been predicting.

William C Weldon, chief executive officer and chairman of the company, said that future growth would be prompted by a number of collaborations, acquisitions and product approvals that had taken place during the quarter.

"We continue to successfully manage our broad base of businesses and deliver solid earnings despite the impact of patent expirations and the challenges posed by the current economic environment," he stated.

Catherine Arnold, an analyst for Credit Suisse, told the Associated Press that this was due to the low tax rate and reductions in costs.

Johnson & Johnson is a global company but its headquarters are in New Brunswick in New Jersey.

Its worldwide workforce comprises 117,000 people in 57 countries.

by Martin Burns

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