NEW YORK (GenomeWeb News) – Becton Dickinson today reported fourth-quarter 2009 revenue growth of 5 percent, or 8 percent excluding the negative effects of currency translation, driven by strong sales for its BD Medical and BD Diagnostics segments.
BD brought in total revenues of $ 1.9 billion for the three-month period ended Sept. 30, compared to $1.8 billion for the fourth quarter of 2008. The firm beat analysts' consensus estimate of $1.85 billion.
Its BD Medical segment had revenues of $1 billion for the quarter, up 8 percent from $929.6 million, while its BD Diagnostics segment also had a strong quarter, rising 5 percent year over year to $580 million from $553.1 million.
Its BD Biosciences segment, however, declined 5 percent to $312.2 million from $329.5 million. "Demand in the US for capital equipment in the research and clinical segments continued to be impacted by funding constraints," the firm said in a statement. "International revenue growth continued to moderate as well."
BD's profit for the quarter increased 12 percent year over year to $317.2 million, or $1.29 per share, from $282.2 million, or $1.12 per share.
The firm's R&D spending increased 5 percent to $113.7 million from $108.5 million, while its SG&A spending was unchanged at $432.5 million.
For full-year 2009, BD reported revenues of $7.2 billion, up 1 percent year over year from $7.1 billion. Its BD Medical segment had revenues of $3.7 billion, the same as the year before. BD Diagnostics' revenues grew 3 percent to $2.23 billion from $2.16 billion. BD Biosciences revenues were roughly $1.2 billion for both fiscal 2009 and 2008.
BD's net income for the year was $1.23 billion, or $4.99 per share, compared to $1.13 billion, or $4.46 per share, for FY 2008. Its R&D expenses were $408.1 million for the year compared to $395.6 million for 2008, and its SG&A spending was $1.7 billion for both years.
BD expects its fiscal-year 2010 revenues will increase about 6 percent. Excluding an expected unfavorable impact from currency translation, BD expects EPS growth of between 7 percent and 9 percent for the year.