UPDATE: Becton Dickinson FQ4 Profit Down 4.6%

Becton Dickinson & Co (NYSE: BDX) reported a 3.6% drop in its fiscal fourth-quarter earnings.

For the current year, Becton Dickinson projects revenue growth of 2% to 3% and earnings from continuing operations of $5.58 to $5.64per share. However, analysts were expecting 3% revenue growth and earnings of $5.80 per share.

Becton Dickinson's quarterly profit fell to $289 million, or $1.43 per share, from $300 million, or $1.36 per share, in the year-ago period. Excluding one-time items, it earned $1.42 per share.

Its revenue declined 1.1% to $1.97 billion. However, analysts were expecting earnings of $1.40 per share on revenue of $1.97 billion.

Becton Dickinson's gross margin dropped to 50.9% from 51.2%.

Becton Dickinson shares closed at $78.47 yesterday.

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