Segment Sales Boost Becton

The company's results top analysts' estimates.
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Updated from 8:52 a.m. EDT

Medical-equipment maker

Becton, Dickinson

(BDX) - Get Report

saw strong growth in several product segments, the company reported Friday.

Becton recorded sales of $1.38 billion for its third fiscal quarter ended June 30, an increase of 11% over the prior year. Analysts surveyed by Thomson First Call were expecting $1.35 billion in sales.

The company's medical segment posted revenue of $770 million, an increase of 13% from a year earlier. In its diagnostics segment, revenue for the quarter was $411 million, up 10% from the prior year. The biosciences division brought in $200 million, up 8%.

Becton reported earnings of $189.7 million, or 73 cents a share, which included less than 1 cent a share from discontinued operations. Analysts were expecting earnings of $185.1 million, or 69 cents a share.

In the year-ago period, reported earnings were 42 cents, which included a charge of $100 million related to a litigation settlement in July 2004. The charge reduced net income by $63 million, or 24 cents a share. Diluted earnings from continuing operations excluding the item would have been 66 cents, the company reported.

Earlier this month, Becton agreed to sell Clontech to Japan's

Takara Bio

. The results of operations from Clontech, a unit of the BD Biosciences segment, have been classified as discontinued operations.

Shares of Becton rose $1.67, or 3%, to $54.95 Friday.

For the fourth quarter, Becton forecast earnings of 74 cents to 76 cents a share before items. The company expects a profit, again excluding items, of $2.98 to $3 a share for the fiscal year ending Sept. 30. Analysts are looking for earnings of 72 cents for the quarter and $2.80 for the year.