Johnson & Johnson Comments on Venezuelan Currency Devaluation
NEW BRUNSWICK, N.J., Feb. 25, 2013 /PRNewswire/ -- Johnson & Johnson (NYSE: JNJ) today announced that based on its preliminary assessment of the impact of the Venezuelan government's decision to devalue its currency effective Feb. 13, 2013, that it expects to incur a charge of approximately $100 million to Net Income in the First Quarter of 2013 or approximately a $0.04 negative impact to earnings per share. This charge is related to the remeasurement of the local balance sheet at the date of the devaluation and is not expected to impact earnings per share guidance for full-year 2013 which was previously announced on January 22, 2013.
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