How did BDX's revenue performance in Q1 2010 compare to the previous year?

BDX reported a 12% increase in revenue for the first quarter ended December 31, 2009, reaching $1.917 billion, compared to $1.718 billion in the prior year's quarter. This growth was attributed to a 9% increase in volume and a 3% favorable impact from foreign currency translation.

What was the impact of the HandyLab acquisition on BDX's financial statements?

BDX acquired HandyLab, Inc. on November 19, 2009, for approximately $277.6 million. This acquisition is expected to enhance its molecular diagnostics offerings and create revenue and cost synergies. The acquisition involved significant investment, including $169 million in acquired in-process research and development and $148 million in goodwill, and was funded through cash.

How is BDX managing its debt and liquidity?

BDX maintains a strong liquidity position. As of December 31, 2009, total debt was $1.7 billion, representing 24.0% of total capital, a decrease from the previous quarter. The company has a commercial paper program and a $1 billion syndicated credit facility available for short-term financing and general corporate purposes, with a strong interest coverage ratio.

What were the key drivers for the growth in the Medical and Diagnostics segments?

Both the Medical and Diagnostics segments saw significant revenue growth. The Medical segment's 16% increase was driven by strong sales in Medical Surgical Systems and Pharmaceutical Systems, including approximately 7% from flu-related products. The Diagnostics segment's 10% growth was boosted by sales of safety-engineered devices and infectious disease testing systems, with about 2% from flu-related products.

BDX 10-Q Quarterly Report Q1 FY2010 — Revenue, Net Income, EPS

Summary

Becton Dickinson & Co. (BDX) reported strong first-quarter results for fiscal year 2010, with revenues increasing by 12% year-over-year to $1.917 billion. This growth was driven by a 9% volume increase and a 3% favorable foreign currency impact, with notable contributions from the Medical and Diagnostics segments, partly due to flu-related sales. Diluted earnings per share from continuing operations rose to $1.30 from $1.25 in the prior year, indicating improved profitability. The company also demonstrated solid cash flow generation, with net cash provided by continuing operating activities at $395 million, an increase from $266 million in the prior year. Despite significant investment in acquisitions, notably HandyLab, Inc., and capital expenditures, BDX maintained a healthy financial position, with total debt representing 24.0% of total capital. Management expressed confidence in its ability to fund ongoing operations, dividends, and share repurchases.

Financial Highlights

49 data points

Beta

Revenue

$1.87B

0.5% Gross Margin

Net Income

$316.38M

0.2% Net Margin

EPS (Diluted)

$1.30

Total Assets

$9.09B

Cash & Equivalents

$1.18B

Free Cash Flow

$260.36M

Financial Statements

Beta

Revenue	$1.87B
Cost of Revenue	$894.32M
Gross Profit	$974.49M
SG&A Expenses	$445.67M
Operating Expenses	$1.44B
Operating Income	$429.67M
Interest Expense	$12.99M
Net Income	$316.38M
EPS (Basic)	$1.33
EPS (Diluted)	$1.30
Shares Outstanding (Basic)	237.36M
Shares Outstanding (Diluted)	242.97M

Key Highlights

1Revenues increased by 12% year-over-year to $1.917 billion, driven by volume growth and favorable foreign currency translation.
2Diluted Earnings Per Share (EPS) from continuing operations grew to $1.30, up from $1.25 in the prior year's quarter.
3Net cash provided by continuing operating activities increased significantly to $395 million.
4The company completed the acquisition of HandyLab, Inc. for approximately $277.6 million, strengthening its molecular diagnostics offerings.
5Medical and Diagnostics segments showed strong revenue growth, with significant contributions from flu-related products.
6Total debt remained a manageable 24.0% of total capital, indicating a stable financial structure.
7The company continued its share repurchase program, buying back $191 million of common stock during the quarter.

BECTON DICKINSON & CO Quarterly Report for Q1 Ended Dec 31, 2009

Summary

Financial Highlights

Key Highlights

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