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BD Posts 5 Percent Increase in Q3 Revenues

NEW YORK (GenomeWeb) – Becton Dickinson today reported a 5 percent jump in its third quarter revenues with growth across all three of its business segments.

The Franklin Lakes, NJ-based medical products, diagnostics, and research tools firm reported total revenues of $2.16 billion for the three months ended June 30, up from $2.05 billion for Q3 2013. It beat the average Wall Street estimate of $2.14 billion.

BD reported 5 percent sales growth for its BD Medical segment to $1.20 from $1.14 billion, while the BD Biosciences business reported 8 percent sales growth to $277 million for the quarter from $257 million in Q3 2013.

Its BD Diagnostics segment had nearly 4 percent revenue growth to $679 million from $655 million. Within that segment, its preanalytical systems sales climbed nearly 6 percent to $364 million from $345 million, and its diagnostic systems sales were up nearly 2 percent to $315 million from $310 million.

BD posted net income of $326 million, or $1.65 per share, compared to Q3 2013 net income of $302 million, or $1.52 per share. On an adjusted basis, its EPS was $1.68, beating analysts' consensus estimate of $1.67.

BD's R&D spending climbed 14 percent to $137 million from $121 million, while the firm cut its SG&A expenses around 1 percent to $528 million from $534 million.

The company reaffirmed its FY 2014 guidance of revenue growth between 4 percent and 4.5 percent, with EPS from continuing operations between $6.22 and $6.25.