Contact lenses

J&J is still the leading worldwide seller of stents, with a 48 percent market share, the company said.

Pharmaceutical revenue rose 11 percent to $6.2 billion.

WASHINGTON MUTUAL INC.

said Tuesday its first-quarter profits slid 20 percent amid a nationwide implosion of the subprime home loan market.

The Seattle-based company, the nation's largest savings and loan, said its net income was $784 million, or 86 cents a share, for the three months ended March 31.

Revenue rose about 1 percent to $3.62 billion.

Analysts polled by Thomson Financial were looking for earnings of 83 cents on $3.6 billion in revenue.

Kerry Killinger, Washington Mutual's chairman and chief executive, said the company's retail banking, card services and commercial groups fared well, while the home loan market - particularly the subprime segment - remained a serious challenge.

Bloomberg News, AP Copyright 2007 Associated Press.

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