Johnson & Johnson announced unaudited consolidated earnings results for the fourth quarter and full year of 2012. For the quarter, the company reported sales customers of $17,558 million, earnings before provision for taxes on income of $3,100 million, net earnings of $2,567 million and net earnings attributable to company of $2,567 million or $0.91 per diluted share compared to sales customers of $16,255 million, earnings before provision for taxes on income of $318 million, net earnings of $218 million and net earnings attributable to company of $218 million or $0.08 per diluted share a year ago period. Adjusted earnings before provision for taxes on income was $4,115 million and adjusted net earnings attributable to company was $3,376 million or $1.19 per diluted share compared to adjusted earnings before provision for taxes on income of $3,657 million and adjusted net earnings attributable to company of $3,129 million or $1.13 per diluted share a year ago period. Operational results increased 9.3% and the negative impact of currency was 1.3%.

For the full year, the company reported sales customers of $67,224 million, earnings before provision for taxes on income of $13,775 million, net earnings of $10,514 million and net earnings attributable to company of $10,853 million or $3.86 per diluted share compared to sales customers of $65,030 million, earnings before provision for taxes on income of $12,361 million, net earnings of $9,672 million and net earnings attributable to company of $9,672 million or $3.49 per diluted share a year ago period. Adjusted earnings before provision for taxes on income was $18,214 million and adjusted net earnings attributable to company was $14,345 million or $5.10 per diluted share compared to adjusted earnings before provision for taxes on income of $17,353 million and adjusted net earnings attributable to company of $13,867 million or $5.00 per diluted share a year ago period. The company also generated significant free cash flow of approximately $12.5 billion. Sales for the full-year 2012 included the impact of the recently completed acquisition of Synthes Inc., which contributed 3.1% to worldwide operational sales growth, net of the divestiture of the DePuy trauma business.

The company provided earnings guidance for the year 2013. For the year, the company expects earnings of $5.35 to $5.45 per share, which excludes the impact of special items. The company suggests that model effective tax rate for 2013 at approximately 20%. This effective tax rate for 2013 includes the federal R&D tax credit renewed by Congress under the American Taxpayer Relief Act for both 2012 and 2013. This would result in sales for 2013 on a constant currency basis of approximately $70.7 billion to $71.4 billion.