Becton Dickinson and Steris Corporation Give Glimpse into Healthcare Earnings

Becton Dickinson and Company (NYSE:BDX) reported its results for the first quarter. Net income for the medical instruments and supplies company fell to $263 million ($1.21 per share) vs. $315.9 million ($1.36 per share) a year earlier. This is a decline of 16.8% from the year earlier quarter. Revenue rose 2.5% to $1.89 billion from the year earlier quarter. Becton Dickinson and Company beat the mean analyst estimate of $1.17 per share. Analysts were expecting revenue of $1.88 billion.

“We are pleased with our solid start to fiscal year 2012 given the challenging macroeconomic climate,” said Vincent A. Forlenza, Chief Executive Officer and President. “Our operating results reflect our increased investments in high-growth areas. We will continue to drive efficiency throughout the Company and we remain committed to delivering value to our customers and shareholders.”

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).

Steris Corporation (NYSE:STE) reported its results for the third quarter. Net income for Steris Corporation rose to $33.6 million (58 cents per share) vs. $21.8 million (36 cents per share) in the same quarter a year earlier. This marks a rise of 54.4% from the year earlier quarter. Revenue rose 8.2% to $355.2 million from the year earlier quarter. Steris Corporation fell short of the mean analyst estimate of 61 cents per share. It fell short of the average revenue estimate of $363.4 million.

“We are pleased with the solid revenue growth and free cash flow generation in our third quarter. However, profitability was dampened due to product mix and certain investments continuing to be made for the long-term benefit of the Company,” said Walt Rosebrough, President and Chief Executive Officer of STERIS. “In the fourth quarter, we anticipate a modest decline in revenue year over year as we have tough comparisons in both Healthcare and Life Sciences. In addition, we anticipate that our long-term investments in the business will continue at a higher rate than our previous estimate.”

Competitors to Watch: Stryker Corporation (NYSE:SYK), Cantel Medical Corp. (NYSE:CMN), Medical Action Industries (NASDAQ:MDCI), Kinetic Concepts, Inc. (NYSE:KCI), Invacare Corporation (NYSE:IVC), Becton, Dickinson and Co. (NYSE:BDX), Hill-Rom Holdings, Inc. (NYSE:HRC), Thermo Fisher Scientific Inc. (NYSE:TMO), and Winner Medical Group, Inc (NASDAQ:WWIN).