Becton Dickinson ($BDX) rebounded from a sluggish end to its 2012 fiscal year with a solid increase in 2013 first quarter revenue. International expansion for its diagnostics segment, the flu and solid sales for diabetes care products helped drive the numbers.
Some of the company's bigger revenue jumps came from international sales, as Becton Dickinson made strides in emerging markets with its various medical devices, instruments and reagents.
Overall revenue for the quarter ending Dec. 31 hit the $1.9 billion mark, up 3.7% from $1.8 billion in revenue booked over the same period last year. And diluted earnings per share from continuing operations reached $1.35 for the 2013 first quarter, up 18.4% from $1.14 in diluted earnings per share in the 2012 first quarter. The company also boosted revenue growth guidance for the full fiscal year to 4% to 4.5% on a foreign currency-neutral basis, up from a projected 3.5% to 4.5% growth.
Broken down, the company's diagnostics segment generated $652 million in global revenue, a 5% hike over $620.7 million booked during the same period in 2012. Credit international expansion and an early flu season, in part, with the solid jump. While BD's medical arm didn't grow as robustly, the division still generated $983 million in revenue during the quarter, 3.5% higher than the $950.4 million the company booked during its 2012 first quarter. Diabetes care products and steady sales with the company's medical, surgical and pharmaceutical systems products helped here. BD closed its buy of Safety Syringes on Dec. 24, 2012, accessing that company's roster of anti-needlestick devices for prefilled syringes. Those numbers will likely help boost medical/pharmaceutical systems numbers down the line.
BD's biosciences division (instrument sales) performed the weakest, generating $265 million in revenue, up just 1.7% from $260.5 million in revenue during the 2012 fiscal first quarter. U.S. revenue in this segment grew 5.3% as domestic research funding rebounded, but international revenue stayed flat, depressing the overall figure.
Becton Dickinson's revenue dipped 1.1% in the fiscal 2012 fourth quarter, to just over $1.96 billion.
- read the release
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