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Ahead of the Bell: J&J 3Q profit seen higher



By AP
14 October 2008 @ 05:56 am EST

NEW YORK - Johnson & Johnson, the world's most diverse maker of health care products, is "a good defensive 'safe-haven' in this time of broader market volatility," RBC Capital Markets analyst Ryan Bachman recently wrote in a note to investors.

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The company is expected to post higher third-quarter earnings Tuesday, partly due to savings from a restructuring program. Sales for certain key products are faltering due to the economic downturn, generic competition and other issues, but Bachman says J&J will likely plan for growth through acquisitions.

Analysts surveyed by Thomson Financial expect J&J to post earnings of $1.11 per share, compared with a profit of $1.06 per share a year earlier.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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