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Becton Dickinson Posts 7 Percent Q2 Growth

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Becton Dickinson today reported that its second-quarter revenues grew 7 percent, led by its BD Medical segment

The Franklin Lakes, NJ-based firm reported total revenues of $1.84 billion for the three-month period ended March 31, compared to $1.72 billion for Q1 2009. The firm fell just short of analysts' consensus expectations for revenues of $1.85 billion.

The firm's BD Medical segment had 9 percent revenue growth to $967.1 million compared to $881.5 million; its BD Biosciences business had 6 percent revenue growth to $322.1 million from $303.8 million; and its BD Diagnostics segment had 3 percent revenue growth to $555.7 million from $539.6 million.

Within BD Biosciences, its cell analysis revenues rose 9 percent to $78.2 million from $71.8 million, and its discovery labware products brought in $39 million, up 21 percent from $32.3 million for Q1 2009.

"Solid revenue growth in our Medical segment and a continued improvement in our Biosciences segment offset lower-than-expected growth in our Diagnostics segment," Edward Ludwig, chairman and CEO of BD, said in a statement.

BD posted a profit of $297.6 million, or $1.24 per share, versus $261.3 million, or 1.06 per share. It beat analysts' expectations by a penny.

Its R&D spending for the quarter rose nearly 3 percent to $101.1 million from $98.6 million, while its SG&A spending fell around 2 percent to $426.3 million from $436.4 million.

BD expects to report full-year 2010 revenue growth of 6 percent, 1 percent lower than previously expected due to currency fluctuations.

In early afternoon trade on the New York Stock Exchange, shares of BD were down less than 1 percent at $76.50.

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