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Becton Dickinson & Company
reported better-than-expected profit for the fourth quarter.
The Franklin Lakes, New Jersey-based company posted quarterly net income of $301 million, or $1.53 per share, compared to $91 million, or $0.46 per share, in the year-ago period. The current quarter results included pre-tax charges of $46 million, or $0.15 per share, while the year-earlier results included $347 million, or $1.08 per share, in pretax charges. On an adjusted basis, Becton Dickinson's earnings came in at $1.68 per share.
Its revenue climbed to $2.20 billion from $2.10 billion. However, analysts were expecting earnings of $1.66 per share on revenue of $2.16 billion.
Worldwide revenue in the BD Medical segment rose 6.5% to $1.193 billion, while worldwide revenue in the BD Diagnostics segment climbed 4.2% to $708 million. In the BD Biosciences segment, worldwide revenue came in around flat at $301 million.
Revenue in the US rose 2.3% to $871 million, while revenue outside of the US climbed 6.6% to $1.331 billion.
"Our strong fourth quarter and fiscal year 2014 results mark the conclusion of another successful year for the Company," said Vincent A. Forlenza, Chairman, CEO and President. "Organic revenue growth continued to accelerate and we delivered a higher quality of earnings while maintaining our ongoing investments to support our innovation strategy. We have built a strong foundation for growth and look forward to fiscal year 2015 with confidence."
Becton Dickinson now expects FY15 earnings of $6.76 to $6.83 per share on revenue growth of 4.5% to 5.0% on a foreign currency-neutral basis. Analysts expected earnings of $6.71 per share.
Becton Dickinson shares fell 0.99% to close at $127.42 yesterday.
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