COVER STORY

This past spring, BD (NYSE: BDX) reported record quarterly revenues of $1.747 billion for the second fiscal quarter ended March 31, 2008. The figure, representing an 11% increase over the prior-year period, reflected a favorable impact on all segments from foreign currency translation, which overall is estimated to account for 5% of the increase in quarterly revenues.

"We are pleased with our strong results, which were once again driven by solid companywide revenue growth and disciplined spending controls that more than offset the headwind we have been facing as a result of increasing raw material costs," said Edward J. Ludwig, chairman, president, and chief executive officer of BD. Accordingly, the company increased its earnings guidance for full-year 2008.

Such impressive quarterly results build on an equally impressive financial performance in 2007. For the full fiscal year ended September 30, 2007, BD reported record revenues of $6.360 billion, representing an increase of 11% over the prior year. The growth rate reflected an overall estimated 3% favorable impact from foreign currency translation across all segments.

For fiscal 2007, the BD Medical segment reported 10% revenue growth to $3.421 billion. For the same year, the BD Diagnostics segment reported revenue growth of 11% to $1.905 billion, which included $88 million in revenues from recently acquired TriPath. Meanwhile, the BD Biosciences segment reported 13% revenue growth to $1.034 billion, resulting from continued strong sales of flow cytometry and bioimaging instruments, flow cytometry reagents, and advanced bioprocessing products.

For fiscal 2007, BD revenues in the United States were $3.033 billion, representing an increase of 11% over the prior year. Revenues outside of the United States were $3.327 billion, representing an increase of 11% over the prior year. An estimated 5% of the international growth reflected a favorable impact of foreign currency translation.

Copyright ©2008 MX