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Cost control and strategy paid off for

Becton Dickinson

(BDX) - Get Becton, Dickinson and Company Report

, which beat fiscal first-quarter estimates Thursday and gave an updated 2008 forecast.

"Disciplined expense management enables us to offset the challenges of raw material price increases and manufacturing start-up costs related to increasing capacity to meet growing demand," CEO Edward Ludwig said in an earnings release.

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Shares of the Franklin Lakes, N.J.-based medical technology company rose $3.45, or 4%, to $88.09 in morning trading.

Becton Dickinson said Thursday that it earned $271.5 million, or $1.07 a share, on revenue of $1.7 billion for its first quarter of 2008, vs. $142.8 million, or 56 cents a share, in the year-ago quarter.

Analysts surveyed by Thomson Financial were looking for $1.03 a share on revenue of $1.65 billion.

Sales in the company's medical segment increased 10% to $909 million, bolstered by pharmaceutical systems and diabetes care products. Sales in the diagnostics segment grew 18% to $523 million, helped by TriPath Imaging, which the company acquired in the first quarter of the prior year. Revenue from the company's biosciences segment also increased 18% to $274 million.

Looking ahead, the company expects earnings per share from continuing operations to increase to a range of $4.26 to $4.34 for full-year 2008 -- an 11% to 13% increase compared to 2007 adjusted earnings.

Analysts surveyed by Thomson Financial are looking for $4.28 a share in 2008 on revenue of $6.9 billion.