Becton Dickinson and Company Earnings Cheat Sheet: The Profit Streak Continues

S&P 500 (NYSE:SPY) component Becton Dickinson and Company (NYSE:BDX) reported its results for the fourth quarter. Becton, Dickinson & Company provides healthcare institutions, life science researchers, clinical laboratories, and individual consumers with laboratory equipment, medical supplies, devices, and diagnostic products.

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Becton Dickinson and Company Earnings Cheat Sheet for the Fourth Quarter

Results: Net income for the medical instruments and supplies company fell to $300 million ($1.36 per share) vs. $396.7 million ($1.67 per share) a year earlier. This is a decline of 24.4% from the year earlier quarter.

Revenue: Rose 9.5% to $2.05 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: BDX reported adjusted net income of $1.39 per share. By that measure, the company fell in line with the mean estimate of $1.39 per share. Analysts were expecting revenue of $2.02 billion.

Quoting Management: “We are pleased with our solid finish to fiscal year 2011. Despite a challenging business environment, all segments contributed to our success and growth,” said Vincent A. Forlenza, Chief Executive Officer and President. “We will continue to drive operational efficiencies and make capital and R&D investments to support our innovation strategy as we look to fiscal year 2012 and beyond.”

Key Stats:

The company fell in line with estimates last quarter after topping expectations in the previous two quarters. In the third quarter, it topped the mark by 8 cents, and in the second quarter, it was ahead by 8 cents.

Revenue has now gone up for three straight quarters. In the third quarter, revenue rose 7.2% to $2.01 billion while the figure rose 4.2% in the second quarter from the year earlier.

Last quarter’s profit decrease breaks a streak of two consecutive quarters of year-over-year profit increases. Net income rose 11.8% in the third quarter and 4.8% in the second quarter.

Looking Forward: The average estimate for the first quarter of the next fiscal year remains unchanged at $1.44 a share. For the fiscal year, the average estimate has moved down from $5.67 a share to $5.64 over the last ninety days.

Competitors to Watch: Covidien plc (NYSE:COV), Thermo Fisher Scientific Inc. (NYSE:TMO), C.R. Bard, Inc. (NYSE:BCR), Teleflex Incorporated (NYSE:TFX), Retractable Tech., Inc. (AMEX:RVP), Hologic, Inc. (NASDAQ:HOLX), Bio-Rad Laboratories, Inc. (NYSE:BIO), Medical Action Industries (NASDAQ:MDCI), Quidel Corporation (NASDAQ:QDEL), and Gen-Probe Incorporated (NASDAQ:GPRO).

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(Source: Xignite Financials)

 

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