Johnson & Johnson announced sales of $18.3 billion for the fourth quarter of 2014, a decrease of 0.6% as compared to the fourth quarter of 2013. Operational results increased 3.9% and the negative impact of currency was 4.5%.
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Domestic sales increased 7.4%. International sales decreased 6.7%, reflecting operational growth of 1.2% and a negative currency impact of 7.9%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 6.7%, domestic sales increased 10.7% and international sales increased 3.6%.
Worldwide sales for the full-year 2014 were $74.3 billion, an increase of 4.2% versus 2013. Operational results increased 6.1% and the negative impact of currency was 1.9%. Domestic sales increased 9.0%.
International sales increased 0.4%, reflecting operational growth of 3.7% and a negative currency impact of 3.3%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 8.0%, domestic sales increased 11.6% and international sales increased 5.1%.
Net earnings and diluted earnings per share for the fourth quarter of 2014 were $2.5 billion and $0.89, respectively. Fourth-quarter 2014 net earnings included a charge for after-tax special items of approximately $1.1 billion, primarily related to an increase in the litigation accrual, integration costs related to the acquisition of Synthes, Inc., and an in-process research and development charge.
Fourth-quarter 2013 net earnings included a net charge for after-tax special items of $42 million as shown in the accompanying reconciliation of non-GAAP financial measures. Excluding these special items, net earnings for the current quarter were $3.6 billion and diluted earnings per share were $1.27, representing increases of 1.4% and 2.4%, respectively, as compared to the same period in 2013.
Net earnings and diluted earnings per share for the full-year 2014 were $16.3 billion and $5.70, respectively. Full-year net earnings included a net charge for after-tax special items of $0.8 billion in 2014 and $2.0 billion in 2013 as detailed in the accompanying reconciliation of non-GAAP financial measures.
Excluding these special items in both periods, net earnings for the full-year of 2014 were $17.1 billion and diluted earnings per share were $5.97, representing increases of 7.7% and 8.2%, respectively, as compared with the full year of 2013. ■
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