Becton Dickinson ends FY12 on a sour note as income declines
Becton Dickinson ($BDX) ended its 2012 fiscal year on a sour note, with net income down 3.6% for the fourth-quarter and 8% for the year, as biosciences division sales declined and foreign exchange rates cut into revenue. Pension settlement charges also hurt the numbers, as noted by Marketwatch.
The medical device and instrument maker reported $289 million in net income for the fourth-quarter, a 3.6% decline from the nearly $300 million in net income booked over the same period last year. Revenue dipped 1.1% for the quarter, to just over $1.96 billion.
For the full year, Becton Dickinson boosted revenue to $7.7 billion, a 1.6% rise from the nearly $7.6 billion in revenue generated during 2011. Net income plunged to $1.16 billion, down from $1.27 billion in 2011. For the full year, the company generated adjusted diluted earnings per share from continuing of $5.37, a .8% increase over the previous year.
BD reported moderate gains in its diagnostics arm, driven in part by organic sales and an acquisition. The company is planning ahead for future growth, however, having recently completed the $730 million sale of its Discovery Labware Unit to Corning, with a goal of focusing more on diagnostics and instrumentation manufacturing.