Becton Dickinson reported revenues of $1.92 billion for the second fiscal quarter, representing an increase of 6.8 percent from the same period last year. And as Reuters notes, this result topped Wall Street expectations of $1.86 billion.
In addition, the company is raising its previous guidance for reported diluted earnings per share from continuing operations for fiscal year 2011 by about $0.10 to a range of $5.55 to $5.65, representing an increase of approximately 13 to 15 percent over fiscal year 2010.
BD's medical segment saw worldwide revenues of $981 million during the quarter, representing an increase of 6.5 percent compared with the prior-year period--or 4.9 percent on a foreign currency-neutral basis. According to the company, revenues reflected strong sales of diabetes care and pharmaceutical systems products. Its diagnostics segment saw worldwide revenues of $605 million, representing an increase of 8.9 percent compared with the prior-year period, or 6.5 percent on a foreign currency-neutral basis.
Company Chairman and CEO Edward Ludwig says the results were "solid" and in line with the company's expectations. "We continued the increased pace of our R&D spending and made strategic investments, such as our acquisition of Accuri Cytometers, demonstrating our commitment to driving revenue growth through innovation," he added in a statement.
The company also noted that order volumes for products in Japan have returned to normal levels. And while its manufacturing plant in Fukushima did sustain some earthquake-related damage, the prepared plated media manufacturing lines were recently restarted. In addition, manufacturing of BD Hypak prefillable syringes is expected to resume during the third fiscal quarter.
- see the BD release
- get more from Reuters
ALSO: Jeff Williams has joined a University of Michigan medical device spinoff. Williams, who helped broker the sale of Accuri to BD earlier this year, has confirmed that he has agreed to become the new CEO of Ann Arbor-based Life Magnetics. Story