Becton Dickinson Guides Up

Shares move a bit higher.
Author:
Publish date:

Becton Dickinson

(BDX) - Get Report

exceeded analysts' estimates for the second quarter of its fiscal year and guided Wall Street higher for 2007.

The medical-device maker said revenue for the quarter ended March 31 increased 11% to $1.58 billion from $1.42 billion in the year-ago period. It reported net income of $242.5 million, or 95 cents a share. On a continuing-operations basis, Becton Dickinson earned 92 cents.

Analysts surveyed by Thomson Financial were expecting a profit of 91 cents a share. Second-quarter net income rose 57% from a year earlier when the Franklin Lakes, N.J., company earned $154.1 million, or 60 cents a share.

For the full fiscal year 2007, the company is now anticipating earnings from continuing operations of $3.76 to $3.80 a share, up from its prior forecast of $3.71 to $3.77, excluding items. Analysts are expecting $3.75.

After the report, the company's shares rose by 67 cents, or 0.9%, to $78.81.

"We are pleased with the strength of our second-quarter results and outlook for fiscal 2007," said Edward J. Ludwig, chairman, president and chief executive, in a release Wednesday. "The combination of our strong operations, internal investments in research and development and recent acquisitions of GeneOhm and TriPath provides the basis for us to look to the future with confidence."