November 5, 2020 – Becton, Dickinson & Co. (BD) (Franklin Lakes, NJ) on Thursday posted a fourth-quarter profit and higher revenue year over year, as revenue for the company’s life-sciences division rose on sales of products related to COVID-19 testing.
The company reported quarterly revenues of $4.784 billion for the fourth fiscal quarter ended September 30, 2020, an increase of 4.4% over the prior-year period on both a reported and currency-neutral basis.
Diluted earnings per share for the fiscal Q4 were $0.36 compared with $0.45 in the prior-year period, which is a decrease of 20.0%. Adjusted diluted earnings per share were $2.79, compared with $3.31 in the prior-year period, which represents a decrease of 15.7%.
In the BD Medical segment, worldwide revenues for the fiscal Q4 of $2.318 billion decreased 4.9% from the prior-year period on both a reported and currency-neutral basis. The segment’s results reflect the BD Alaris System remediation in the Medication Management Solutions unit and the impact of COVID-19 across the segment.
Within the Medication Delivery Solutions unit, the recovery in hospital admission rates and non-acute procedure volumes improved sequentially from the fiscal Q3 but remained below pre-COVID levels in the fiscal fourth quarter.
In the BD Life Sciences segment, worldwide revenues for the quarter of $1.488 billion increased 31.2% over the prior-year period as reported, or 31.4% on a currency-neutral basis. The segment’s results were driven by strong sales related to COVID-19 diagnostic testing solutions in the Diagnostic Systems unit on the BD Veritor and BD Max platforms. Routine diagnostic testing and research-related activity improved sequentially from the fiscal third quarter, but remained below pre-COVID levels in the fiscal fourth quarter.
“Looking to fiscal 2021, BD remains focused on partnering with governments, health care systems, and health care professionals to navigate the COVID-19 pandemic, ensure access to rapid diagnostics and enable care for patients around the world. We are aligned on our priorities and steadfast in our commitments, including completing our Alaris 510(k) submission, investing in innovation and strategic growth initiatives, simplifying our processes and empowering our organization,” said Tom Polen, CEO and president of BD.