Becton, Dickinson and Company (NYSE:BDX) boosted its prior-year-quarter performance when it came to revenues.
The medical technology company, based in Franklin Lakes, New Jersey, reported Tuesday quarterly revenues of $4.160 billion for the first fiscal quarter ended December 31, 2018.
This represents an increase of 35.1% from the prior-year period, which is primarily due to the acquisition of C. R. Bard. On a comparable, currency-neutral basis, revenues increased 5.2% over the prior-year period.
As reported, diluted earnings per share for the first quarter were $2.05, compared with a loss of 76 cents in the prior-year period. This represents an increase of 369.7% and is primarily due to the gain on the sale of the Advanced Bioprocessing business, and net expense related to U.S. tax reform in the prior-year period.
Adjusted diluted earnings per share were $2.70, compared with $2.48 in the prior-year period. This represents an increase in adjusted diluted earnings per share of 8.9%, or 14.9% on a currency-neutral basis.
Said CEO Vincent Forlenza, "We are very pleased with our strong start to fiscal year 2019. As noted in our pre-announcement, results were better than expected across all three segments. It is evident that the combination of BD and C. R. Bard is delivering value to customers, patients and shareholders around the world."
The company expects full fiscal year 2019 revenues to increase 8.5%-9.5%, primarily due to the C. R. Bard acquisition. The company estimates full fiscal year 2019 revenues will increase 5% to 6% on a comparable, currency-neutral basis.
Shares fell $1.30 to $245.60
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