Charges drag down J&J Q4 profit, but sales rebound

NEW BRUNSWICK, N.J. -- Johnson & Johnson says fourth-quarter profit was barely a tenth what it made a year ago as a slew of charges dragged down income. But the health care giant's revenue jumped last year, ending an unprecedented two-year decline.

The maker of Tylenol, prescription drugs and medical devices says net income was $218 million, or 8 cents per share, down from $1.94 billion, or 70 cents a share, a year earlier.

Excluding charges, net income was $3.13 billion, or $1.13 per share.

Revenue totaled $16.26 billion, up from $15.64 billion in 2010's fourth quarter.

Analysts polled by FactSet, on average, expected earnings per share of $1.09 and revenue of $16.28 billion.

J&J says it expects 2012 earnings of $5.05 to $5.15 per share, excluding special items.