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BD Posts 14.5 Percent Growth in Q3 Revenues

NEW YORK (GenomeWeb News) – Becton, Dickinson and Company today reported a 14.5 percent increase in third-quarter revenues accompanied by a 21.4 percent increase in net income.
 
For the quarter ended June 30, BD’s revenues rose to $1.9 billion from $1.6 billion in the comparable period of 2007. The company said that 7 percent of that growth was due to the favorable impact of foreign currency translation.
 
The company’s BD Medical segment reported total revenues of $1.0 billion for the quarter, an increase of 15 percent over $881 million in the prior-year period. Revenues for the firm’s BD Diagnostics segment rose 13 percent to $553 million from $492 million in the third quarter of 2007, while BD Biosciences revenues rose 16 percent to $298 million from $258 million in the prior-year period.
 
US revenues contributed $798 million during the quarter, an increase of 4 percent over the prior-year period, while revenues outside the US rose 24 percent to $1.1 billion for the quarter. Approximately 13 percentage points of that increase resulted from the favorable impact of foreign currency translation, BD said.
 
Third-quarter net income increased 21.4 percent to $297 million from $245 million. Earnings per share were $1.18 for the third quarter of fiscal 2008 and $0.96 for the third quarter of fiscal 2007.
 
BD’s total operating costs and expenses increased 11.8 percent to $1.5 billion for the quarter from $1.3 billion in the year-ago period. SG&A costs rose 7 percent to $440.6 million from $412.2 million in the third quarter of 2007, while R&D spending rose 7.6 percent to $100.1 million from $93 million.