NEW YORK (GenomeWeb News) — Becton Dickinson today said fiscal first-quarter 2007 revenues increased 8 percent as R&D spending surged 185 percent and profit dropped 35 percent.
Total receipts for the three months ended Dec. 31, 2006, increased to $1.5 billion from $1.4 billion year over year.
BD said revenues from its Diagnostics segment increased 2 percent to $442 million, while Biosciences revenue increased 11 percent to $232 million. Revenue from the Medical segment climbed 10 percent to $826 million.
R&D spending for the quarter increased to $195 million from $68.3 million year over year. Contributing to the increase was a $115-million charge related to the completion of its acquisition of TriPath Imaging.
Net profits for the quarter slid to $142.9 million from $217.9 million in the year-ago period.
The company did not disclose its cash holdings.