BD - Becton Dickinson 2nd-quarter earnings fall on currency

BD Announces Results for Second Fiscal Quarter

FRANKLIN LAKES, N.J., April 26 /PRNewswire-FirstCall/ -- BD (Becton, Dickinson and Company) (NYSE: BDX - News) today reported record quarterly revenues of $1.449 billion for the second fiscal quarter ended March 31, 2006, representing an increase of 6 percent over the prior year period. This quarter's growth rate reflects an overall estimated 3 percent unfavorable impact from foreign currency translation, which affected all segments.

"We are very pleased with our strong second quarter results, which exceeded our expectations," said Edward J. Ludwig, Chairman, President and Chief Executive Officer. "We also closed the acquisition of GeneOhm, which will enable BD to further progress in the emerging field of healthcare- associated infections. The Company is well positioned to become a leader in the prevention and management of this global healthcare problem."
GeneOhm Sciences, Inc. Acquisition Completed
On February 14, 2006, BD announced the completion of its acquisition of GeneOhm Sciences, Inc. (GeneOhm), a company that has pioneered the development of molecular diagnostic testing for the rapid detection of bacteria, which cause healthcare-associated infections. Diluted earnings per share from continuing operations for the second quarter reflects a reduction of 1 cent per share related to the impact of GeneOhm operations for the second quarter. For the full fiscal year 2006, the Company expects diluted earnings per share from continuing operations to be reduced by approximately 7 cents related to the impact of GeneOhm operations. In addition, in the second quarter, the Company recorded an in-process research and development charge of $53 million associated with the acquisition, which further reduced diluted earnings per share from continuing operations by 21 cents in the quarter

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Becton Dickinson 2nd-quarter earnings fall on currency

Medical products equipment maker Becton Dickinson and Co. on Wednesday said quarterly earnings fell 18 percent, citing the unfavorable effects of foreign currency.
Fiscal second-quarter net income fell to $154 million, or 62 cents a share, from $188 million, or 74 cents a share, a year ago.
Revenue rose $1.45 billion from $1.37 billion.
Excluding one-time items, the Franklin Lakes, New Jersey-based company said it earned 79 cents a share.
Analysts on average had expected earnings of 77 cents a share, according to Reuters Estimates.
Shares of Becton Dickinson are trading near their all-time peaks, but are little changed since the start of the year.
The Standard and Poor's health-care equipment index <.GSPMED>, by comparison, has declined about 4.5 percent for the year to date.