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Mead Johnson’s initial post-IPO earnings

This article was originally published in The Tan Sheet

Executive Summary

Sales for the pediatric nutritionals firm spun off by Bristol-Myers Squibb in February fell 1.5 percent to $693 million. However, year-over-year numbers are not comparable since some revenue came from operations not transferred to Mead Johnson Nutrition in the initial public offering, the firm says. Net earnings in the January-March period fell 20.8 percent to $103.5 million. Total quarterly operating expenses jumped 5.9 percent due in part to one-time IPO-related costs. Mead Johnson CEO Stephen Golsby said April 28 it expects U.S. and global product launches and double-digit revenue gains in Asia and Latin America to drive full-year results
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