Medical Supplies Manufacturer Becton, Dickinson and Company Shows Quarterly Decline, First-Half Growth in 2009 Fiscal Year

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Researched by Industrial Info Resources (Sugar Land, Texas)--Medical supplies manufacturer Becton, Dickinson and Company (NYSE:BDX) (BD) (Franklin Lakes, New Jersey) recently announced earnings for the company's 2009 second fiscal quarter, which ended March 31, 2009. Quarterly net income for the company declined 5.4%, moving from $276.2 million in 2Q08 to $261.3 million in 2Q09. For the first six months of the 2009 fiscal year, however, BD's net income has shown growth of 4.7% from the previous year, rising from $547.7 million to $573.4 million this fiscal year.

The company operates in three segments: BD Medical, which manufactures medical equipment such as syringes, sharps disposal containers and needles; BD Diagnostics, which manufactures diagnostic and specimen collection equipment; and BD Biosciences, which provides products cellular tissue growth and analysis. These segments performed as follows during 2Q09:

• BD Medical - revenues of $897, down 3% year over year
• BD Diagnostics - revenues of $540 million, up 2% from the previous year
• BD Biosciences - revenues of $304 million, up 3% from 2Q08

Geographically, revenues in the U.S. were down 1% at $778 million, while foreign revenues were more or less even, at $963 million. Despite the flat foreign revenue, the company was hurt by unfavorable foreign currency exchange and estimated a revenue loss of 6 percentage points because of unfavorable currency translation in the face of the strengthening dollar. In a conference call regarding the earnings, BD President Vincent A. Forlenza said that the company expects approximately $500 million in lost revenues this fiscal year because of foreign currency headwinds.

Industrial Info is currently tracking approximately $157 million of BD projects. Included in these projects is the grassroot construction of a vaccine plant in Miami, Florida. The 90,000-square-foot building will be built on an existing medical campus and will produce cell-based therapeutics and vaccine products. Construction began in November of last year and is expected to be complete by mid-2010. The project has an estimated total investment value of $50 million. IDEA Engineering (Bridgeport, Connecticut) is the architecture and engineering company on the project, while Skanska USA Building (Dania, Florida) is acting as construction manager.

Industrial Info's 2009 Pharmaceutical & Biotech Industry Outlook packages useful, timely and essential information and statistics into one easy-to-use format. Features include upcoming trends, vital plant and project statistics, as well as a capital and maintenance spending analysis derived from our information databases. The Pharmaceutical Tracker - Online Database contains operational plant data, as well as sites under development in the Pharmaceutical and Biotech Industry. Individual active capital and maintenance spending reports spanning North America are also covered within the Pharmaceutical Tracker.

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