NEW BRUNSWICK, New Jersey ( TheStreet) -- Health care giant Johnson & Johnson ( JNJ) reported third-quarter profit of $3.2 billion, or $1.15 a share, down from year-earlier profit of $3.42 billion, or $1.23 a share. Excluding special items, profit in the latest quarter was $1.24 a share, Johnson & Johnson said Tuesday. Analysts surveyed by Thomson Reuters expected J&J to earn $1.21 a share Revenue in the quarter rose 6.8% to $16 billion. Analysts expected revenue of $16.02 billion. Johnson & Johnson said domestic sales in the quarter declined 3.7%. The company said it expects 2011 earnings of $4.95 a share to $5 a share. For the year, analysts expect J&J to post earnings of $4.96 a share -- Written by Joseph Woelfel >To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: email@example.com.