Sales & Earnings In Brief
This article was originally published in The Tan Sheet
Executive Summary
Bristol-Myers Squibb: Mead Johnson Enfamil infant formula sales fell 12% to $186 mil. in the first quarter, although nutritional division's performance for Q1 is "on plan," BMS asserts in April 25 earnings announcement. Total nutritional sales fell 8% to $463 mil. during the quarter, with international revenue up 8% and U.S. sales declining 18%. BMS division began rolling out DHA/ARA-fortified Enfamil LIPIL during the quarter. Worldwide consumer medicine sales dropped 16% to $96 mil. Total consolidated revenue, excluding nonrecurring items, fell 7% to $4.34 bil., with net earnings from continuing operations, excluding nonrecurring items, falling 30% to $875 mil...