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Earnings Roundup: Johnson & Johnson, KMG Chemicals

Among the earnings stories for Tuesday, Oct. 13, from AP Financial News:

TRENTON, N.J. (AP) ¿ Johnson & Johnson on Tuesday reported a meager 1 percent increase in third-quarter profit, as intensifying generic competition slashed sales of blockbuster prescription drugs. In addition, the global recession hurt consumer product sales and slowed growth for medical devices, the only J&J segment not declining.

HOUSTON (AP) ¿ KMG Chemicals Inc., which makes wood preservatives and weed-killing chemicals, said Tuesday its fourth-quarter profit soared on cost-cutting and improvements in all its businesses.

MINNEAPOLIS (AP) ¿ Agribusiness conglomerate Cargill Inc. said Tuesday its fiscal first-quarter earnings plunged 65 percent, hurt by slumping fertilizer sales.

Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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