Becton Dickinson and Company Reports Operating Results (10-Q)

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Feb 07, 2012
Becton Dickinson and Company (BDX, Financial) filed Quarterly Report for the period ended 2011-12-31.

Becton Dickinson & Co. has a market cap of $17.2 billion; its shares were traded at around $80.53 with a P/E ratio of 14.3 and P/S ratio of 2.2. The dividend yield of Becton Dickinson & Co. stocks is 2.2%. Becton Dickinson & Co. had an annual average earning growth of 13.9% over the past 10 years. GuruFocus rated Becton Dickinson & Co. the business predictability rank of 5-star.

Highlight of Business Operations:

First quarter revenues of $1.888 billion represented an increase of 2.5% from the same period a year ago, and reflected volume increases of approximately 3.7%, partially offset by price decreases of approximately 1.3%. Foreign exchange translation had a minimal impact on revenue growth in the first quarter of 2012. During the quarter, we experienced weaker sales in the U.S. due to an uncertain research spending environment and increased pricing pressures compared to the prior years period. International revenues reflected continued strength in emerging market sales and strong sales of safety-engineered products. Sales in the United States of safety-engineered devices in the first quarter of 2012 were $291 million, representing a 2.4% increase from the prior years period. International sales of safety-engineered devices of $197 million in the first quarter of 2012 grew 16.4% over the prior years period, including an estimated $1 million, or less than 1%, unfavorable impact due to foreign currency translation. International safety-engineered device revenue growth continues to be driven by strong growth in the Medical segment, with the largest growth in emerging markets, including China and Latin America.

Income from continuing operations and diluted earnings per share from continuing operations for the first quarter of 2012 were $263 million and $1.21, respectively. Income from continuing operations and diluted earnings per share from continuing operations for the prior years first quarter were $314 million and $1.35, respectively. The current quarters earnings reflected an estimated $0.01 unfavorable impact due to foreign currency translation.

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