Contact lenses

In the year-ago quarter, results were also boosted by an after-tax gain of $368 million from the breakup fee J&J received after medical device maker Guidant Corp.

backed out of an acquisition agreement and instead was purchased by Boston Scientific Corp.

J&J is the parent of Warsaw-based DePuy Orthopaedics.

Analysts surveyed by Thomson Financial had expected earnings per share of $1.05 and sales of $14.44 billion.

Sales totaled $15.04 billion, up nearly 16 percent from $12.99 billion a year earlier.

Operational sales growth, which excludes the effect of new products and currency exchange rates, was 6.3 percent.

Shares of J&J were up $1.94, more than 3 percent, to $64.96 in afternoon trading on the New York Stock Exchange.

Manufacturing, tax refund contribute to boom at Intel Benefiting from its rapid shift to a new chip-making process and a big tax windfall, Intel Corp.’s first-quarter profit surged 19 percent as lower production costs helped the company withstand another round in a fierce price battle with rival Advanced Micro Devices Inc.

Intel also raised its full-year profit margin guidance and said it would spend slightly more on rese...

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