Becton, Dickinson Earnings Drop In Q2

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On April 28, 2009, Becton, Dickinson and Company(BDX Quote) reported that its Q2 FY09 earnings dropped, reflecting an antitrust settlement. Net income for the quarter declined 5.4% to $261.27 million or $1.06 per share from $276.19 million or $1.09 per share in the prior year's quarter. Excluding a pre-tax charge of $45.00 million or $0.11 per share, earnings from continuing operations were $289.23 million or $1.18 per share, which beat the most recent consensus estimate of $1.16 per share.

Revenue inched down to $1.74 billion from $1.75 billion, due to unfavorable impact from foreign currency translation. BD Medical revenue declined 2.7% to $897.32 million from $922.25 million, due to unfavorable impact from foreign currency translation by 5 basis points. Higher sales of insulin delivery products were offset by a decline in sales of Medical Surgical Systems products. BD Diagnostics revenue increased 1.7% to $539.64 million from $530.57 million, driven by growth in safety-engineered devices, cancer diagnostics products, and infectious disease testing systems. Revenue from the BD Biosciences segment went up 3.3% to $303.84 million from $294.10 million, driven by demand for clinical and research instruments. Geographically, revenue from the U.S. inched down 0.7% to $778.12 million, while International revenue remained flat at $962.69 million. ...