Johnson & Johnson, a New Jersey-based health care firm, has reported that its profits in the second quarter of fiscal 2013 has more than doubled, partly due to strong sales of medical-devices and medicines.
In the second quarter, the net earnings grew to $3.83bn from $1.41bn in the same period a year earlier. Without including one-time items, J&J earned $4.29bn.
Revenue in this year’s second quarter was $17.88bn, an increase of 8.5% from $16.48bn in the corresponding period of the same year.
The firm is recovering from product recalls and several manufacturing problems, which have had its negative impact on sale for the last four years.
Last year’s second quarter saw $2.2bn in charges for an acquisition, litigation besides writedown of assets.
The firm’s worldwide medical devices and diagnostics sales grew 9.6% to $7.2bn in the second quarter. Domestic sales grew 9.8%, while international sales increased 9.4%.
Worldwide pharmaceutical sales increased 11.7% to $7bn for the second quarter. Domestic sales increased 9.1%, while international sales increased 14.1%.
Worldwide consumer sales rose 1.1% to $3.7bn during the quarter. Domestic sales increased 1% and international sales increased 1.1%.