Log in
Login
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nyse  >  Becton Dickinson and Co    BDX

Delayed Quote. Delayed  - 06/24 10:01:03 pm
166.71 USD   -3.18%
06/17 BECTON DICKINSO : BD and Check-Points Announce Development and Globa..
06/16 BECTON DICKINSO : BD and Check-Points Announce Development and Globa..
06/10 BECTON DICKINSO : CAPS(R) and BD Form Collaboration to Provide Ready..
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Becton Dickinson's 1st-Quarter Earnings Surge; Raises Year-View

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/05/2013 | 12:50pm CEST
   By Saabira Chaudhuri 
 

Becton Dickinson & Co.'s (>> Becton, Dickinson and Co.) fiscal first-quarter earnings more than doubled as the medical device maker recorded revenue growth across all its segments, while margins also widened.

For the current year, Becton raised the bottom end of its revenue guidance, now expecting foreign currency neutral revenue growth starting at 4% versus its prior view starting at 3.5%. It now expects per-share earnings from continuing operations between $5.69 and $5.72, up from its prior view of earnings between $5.58 and $5.64.

The maker of products like surgical blades and test kits last spring struck a deal to sell the bulk of its lab-products business to Corning Inc. (>> Corning Incorporated) for $730 million in cash. Analysts who follow the company noted the sale stripped Becton Dickinson of a cash cow yet also gave it the freedom to focus on businesses with higher growth potential.

Ahead of the company's earnings announcement, analysts at Mizuho Securities downgraded Becton's ratings, noting that the company's life science research business--which makes up about 15% of sales--has been a drag on results for the past year, adding that they see no significant catalysts for the business in the near-term, as the academic market continues to be sluggish.

Still, Chief Executive Vincent A. Forlenza on Tuesday said the company is "starting to see notable results," adding that Becton is "growing revenues across our three segments, driving margin expansion and delivering a higher quality of earnings."

For the quarter ended Dec. 31, Becton Dickinson reported a profit of $625.4 million, or $3.13 a share, compared with $263 million, or $1.21 a share, a year earlier. Per-share earnings from continuing operations were $1.35 versus $1.14.

Revenue increased 3.7% to $1.9 billion. Analysts polled by Thomson Reuters most recently forecast earnings of $1.24 a share on revenue of $1.86 billion.

Gross margin widened to 52.9% from 50.8%.

Becton Dickinson's sales grew 3% in the U.S. and 4.3% internationally. The company's medical unit, its largest by revenue, reported sales rose 3.5%. The diagnostics business posted revenue growth 5%, while bioscience revenue was up 1.7%.

Shares closed Monday at $85.16 and were inactive premarket. The stock has risen 11% in the past three months.

Write to Saabira Chaudhuri at saabira.chaudhuri@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stocks mentioned in the article : Becton, Dickinson and Co., Corning Incorporated
share with twitter share with LinkedIn share with facebook
share via e-mail
0
React to this article
Latest news on BECTON DICKINSON AND CO
06/23 BECTON DICKINSON : "Syringe with Visually Coded Needle Hub" in Patent Applicatio..
06/23 BECTON DICKINSON : BD and Check-Points Announce Development and Global Distribut..
06/23 BECTON DICKINSON : Patent Issued for Density Phase Separation Device (USPTO 9364..
06/21 BECTON DICKINSON : Sources Sought Notice - Becton, Dickinson, & Co. LSRFortessa ..
06/17 BECTON DICKINSON : BD and Check-Points Announce Development and Global Distribut..
06/16 BECTON DICKINSON : Trademark Application for "BD LSRFORTESSA" Filed by Becton Di..
06/16 BECTON DICKINSON : B. Braun Medical Inc. and Affiliates Sue Becton, Dickinson & ..
06/16 BECTON DICKINSON : Trademark Application for "BD SIMPLIST" Filed
06/16 BECTON DICKINSON : BD and Check-Points Announce Development and Global Distribut..
06/10 BECTON DICKINSON : CAPS(R) and BD Form Collaboration to Provide Ready-to-Use, Pr..
Advertisement
News chart
Full-screen chart
Income Statement Evolution
More Financials