International Harvester Co., crippled by a strike, says it lost $222.2 million in the first quarter of the fiscal year.
The quarter began Nov. 1. the same day about 35,000 United Auto Workers members struck Harvester plants in eight states.
The farm-and heavy-equipment manufacturer said yesterday that the loss came on sales of $1 billion and equalled $7.24 per share of common stock. In the first quarter of fiscal 1979, the company reported earnings of $58.8 million ($1.91 a share), the company said.
The company said sales were off 37.4 percent, composed with the first quarter of last year.
The Firestone Tire & Rubber Co. reported that it lost 13.8 million for the three months ended Jan. 31, down from earnings of $34.8 million in the same period a year ago.
Richard A. Riley, chairman of the No. 2 rubber maker, said significant impovements won't accrue until the nation's energy problems are dealt with and the automobile business turns around.
The loss during the first fiscal quarter totaled 24 cents a share on sales of $1.18 billion. In the same period the previous year. Firstone had earnings of 60 cents a share on sales of $1.20 billion.
It also reported foreign currency losses, including inventory related effects, totaled $16.6 million, compared with gains of $3.2 million in the first quarter a year ago. The company cited a currency devaluation in Brazil for the major share of those losses.
Johnson & Johnson's earnings rose 18 percent to $352.06 million (5.76) last year from $299.06 million $5) a year earlier, the maker of health care products reported yesterday.
Revenues climbed 20 percent to $4.21 billion from $3.5 billion. Currency translation losses cut 7 cents a share from the 1979 earnings, compared with a penny in 1978.
In the fourth quarter, net income was $67.89 million ($1.11) on revenues of $1.04 billion against $60.86 million (99 cents) a year earlier on sales of $876.63 million.
The company said it planned to continue its investments in the area of diagnostic imaging. An element of that program was Johnson & Johnson's purchase last February of Technicare Corp., which during the year showed a loss of $23.2 million.
Hewlett-Packard Co. reported first quarter net income of $54 million, a 22 percent increase over the same quarter a year ago, on a 31 percent increase in sales.
Earnings for the first quarter ended Jan. 31 equalled 91 cents a share on sales of $664 million, compared with net income of $45 million (76 cents) on sales of $505 million. There were one million fewer shares in the first quarter of 1979.
Citing inflation increased research and manufacturing development costs, and lower than expected sales. Polaroid Corp. reported sharply lower earnings for 1979 and the fourth quarter.
Net income for the fourth quarter was $28.9 million (88 cents) on sales of $426.6 million compared with income of $43.4 million ($1.32) on sales of $474.5 million.
For the year, net income totaled $36.1 million ($1.10) on sales of $1.36 billion compared with $118.4 million ($3.60) on sales of $1.38 billion.
In addition to higher costs and slower sales, Polaroid cited increased interest expense and a $68.5 million write-down on inventory and purchase commitments for Polavision.