NEW YORK ( TheStreet) -- Johnson & Johnson ( JNJ) said fourth-quarter earnings decreased about 12% to $1.94 billion, or 70 cents a share, from $2.21 billion, or 79 cents a share, a year earlier.
The company said fourth-quarter net earnings included after-tax charges of $922 million, representing the net impact of costs related to its DePuy ASR Hip recall. Excluding items, earnings came in at $1.03 a share. Fourth-quarter sales fell about 5.5% to $15.64 billion from $16.55 billion. Analysts, on average, were calling for earnings of $1.03 a share on revenue of $16.08 billion. Share of J&J fell 1.6% to $61.23 in premarket trading Tuesday. 3M's ( MMM) earnings topped expectations as sales rose almost 10% to $6.7 billion. The stock fell 1.7% to $88.75.
EMC ( EMC) said fourth-quarter net income rose 61% to $628.6 million, or 29 cents a share, from $390.6 million, or 19 cents a share, the year before. Consolidated revenue for the quarter rose 19% to $4.89 billion from $4.10 billion. Non-GAAP earnings were 42 cents a share. The Wall Street consensus called for earnings of 41 cents a share on revenue of $4.78 billion. Shares of EMC fell 1.8% to $23.40 in early trading Tuesday. Harley-Davidson ( HOG) reported a fourth-quarter loss from continuing operations of $42.1 million, or 18 cents a share, from a year-earlier loss of $147.2 million, or 63 cents a share. Revenue rose 20% to $917.1 million from $764.5 million a year ago. On average, analysts were expecting a loss of 30 cents a share on revenue of $863 million. Harley-Davidson fell 2.7% to $35.50 in premarket trading. DuPont's ( DD) fourth-quarter earnings topped estimates and the chemicals maker raised its forecast for 2011. Shares of DuPont rose 0.6% to $49.20 in premarket trading Tuesday.