NEW YORK (GenomeWeb News) – Becton Dickinson said today that its fiscal second-quarter revenues rose nearly 4 percent year over year, beating analyst estimates.
For the quarter ended March 31, 2012, BD posted $1.99 billion in revenues, up from $1.92 billion for the second quarter of 2011, outpacing analysts' consensus estimate of $1.94 billion.
Revenue from the firm's BD Diagnostics segment was up 4 percent to $630 million, compared to $605 million a year ago. Growth was driven primarily by the preanalytical systems unit and women's health and cancer, the company said.
Within the segment, preanalytical systems revenue rose to $323.3 million from $306.2 million, a nearly 6 percent increase, but down around 1 percent excluding currency translation. Its diagnostic systems revenue was up nearly 3 percent to $306.7 million from $299.1 million. Excluding currency translation, diagnostic systems sales were down around 1 percent.
BD Biosciences revenues were up 1 percent at $339.6 million from $335.3 million, but flat on a currency-neutral basis. Within that segment, cell analysis products brought in $261.5 million, up from $255.5 million, and discovery labware generated revenues of $78.1 million versus $79.8 million.
BD recently inked a deal to sell the discovery labware unit, excluding its Advanced Bioprocessing platform, to Corning for $730 million. BD said that it expects to complete that deal by the end of 2012.
BD Medical revenues increased 4 percent to $1.02 billion for the quarter from $981.3 million, but were down 1 percent including the effects of currency translation.
By geography, BD's total US revenues during the quarter rose 2 percent year over year to $847.6 million. Outside the US, revenues rose around 5 percent on a currency-neutral basis to $1.14 billion. BD said the boost from international sales reflected "continued strength in emerging markets and strong sales of safety-engineered products."
The firm's R&D expenses were down half of a percent to $118.5 million from $119.2 million, while its SG&A costs rose 12 percent to $495 million from $441.9 million.
BD's net income for the quarter was $291 million, or $1.39 per share, compared to $312 million, or $1.38 a share a year ago, compared with analyst expectations of $1.38 per share.
For full-year 2012, BD has raised its revenue growth estimates to between 1 to 2 percent versus a prior guidance of flat revenue growth, due to expectations of a favorable currency translation.
EPS from continuing operations is now estimated to fall between $5.68 and $5.73, up from an earlier forecast of $5.60 to $5.70.
BD also reiterated its plans to repurchase $1.5 billion of its stock in fiscal 2012, subject to market conditions.
In Tuesday morning trade on the New York Stock Exchange, shares of BD were down 1 percent to $77.53.