Becton Dickinson 1Q Profit Rises on Covid-19 Testing
04 February 2021 - 10:57PM
Dow Jones News
By Dave Sebastian
Becton, Dickinson & Co. said sales of products used for
Covid-19 testing and prevention drove its profit up for the fiscal
first quarter.
The New Jersey-based medical-technology company Thursday posted
net income of $1 billion, compared with $278 million in the prior
year.
Earnings were $3.35 a share, compared with 87 cents a share a
year earlier.
Adjusted earnings were $4.55 a share. Analysts polled by FactSet
were looking for $3.12 a share.
Revenue was $5.32 billion, up 25.8% from the same period a year
ago, matching its expectations. Analysts were looking for $4.92
billion.
Covid-19 testing sales were $867 million for the quarter.
Sales in its medical segment grew 8.2% to $2.26 billion due to
higher demand for products used in the treatment and prevention of
Covid-19, such as prefillable syringes. Life-sciences sales grew
76.2% to $1.98 billion, the company said
Revenue in its biosciences unit fell as the prior year's benefit
of licensing revenue eclipsed gains from research and clinical-lab
activity and Covid-19 vaccine research. International sales rose
6.2% to $1.08 billion as practitioners worked through patient
backlogs for elective care.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
February 04, 2021 06:42 ET (11:42 GMT)
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