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Becton Dickinson Posts Double-Digit Growth in Q2 Revenues, Profit

NEW YORK (GenomeWeb News) – Becton Dickinson today reported that its second-quarter revenues rose 10.9 percent on double-digit growth in its Diagnostics and Biosciences segments, and 13.9 percent profit growth for the three-month period ended March 31.
The Franklin Lakes, NJ-based medical devices, diagnostics, and research products firm generated second-quarter revenues of $1.7 billion compared to $1.6 billion in the second quarter of 2007. Sales for the BD Medical segment rose 9.3 percent to $922.3 million; sales for BD Diagnostics climbed 12.1 percent to $530.6 million; and sales for BD Biosciences increased 13.8 percent to $294.1 million.
During a conference call today, BD EVP Vince Forlenza said that molecular diagnostics business GeneOhm Sciences, which BD purchased two years ago for $230 million, brought in $10 million in revenues during the quarter. He said the firm expects GeneOhm to contribute around $40 million for fiscal 2008.
BD posted a profit of $276.2 million, or $1.09 per share, compared to a profit of $242.5 million, or $.92 per share, in the second quarter of 2007.
The firm’s R&D costs rose 10.8 percent to $96 million from $86.7 million year over year, and its SG&A costs inched up 2.2 percent to $415.5 million from $406.6 million.
BD did not provide its cash position as of the end of the quarter.
In late Wednesday trade on the New York Stock Exchange, shares of BD were up 1.9 percent at $86.22.

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