NEW YORK (
Johnson & Johnson
, the consumer goods and health care company, said fourth-quarter earnings fell 89% to $218 million, or 8 cents a share, after recording a number of litigation and acquisition-related charges.
The company recorded $2.9 billion in after-tax charges for litigation settlements, product liability expenses, costs from the DePuy ASR Hip recall and costs from a planned Synthes acquisition. If these items were excluded, earnings would have been $3.1 billion, or $1.13 a share.
Analysts polled by Thomson Reuters expected
In the prior year, Johnson & Johnson reported fourth-quarter earnings of $1.94 billion, or 70 cents a share.
Johnson & Johnson also said it expects 2012 earnings of between $5.05 and $5.15 a share, excluding special items. Earnings in 2011 were $3.49 a share.
-- Written by Alexandra Zendrian
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