BD Announces Results for 2010 Fourth Fiscal Quarter and Full Year
FRANKLIN LAKES, N.J., Nov. 3, 2010 /PRNewswire-FirstCall/ -- BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, today reported quarterly revenues of $1.873 billion for the fourth fiscal quarter ended September 30, 2010, representing an increase of 1.0 percent from the prior-year period, or 2.9 percent on a foreign currency-neutral basis.
For the full fiscal year ended September 30, 2010, BD reported revenues of $7.372 billion, representing an increase of 5.5 percent over the prior year, or 5.6 percent on a foreign currency-neutral basis.
The Company also plans to repurchase $1.5 billion of its common stock in 2011 and an additional $600 million in 2012. The Company plans to fund the repurchases through ongoing cash flow and the issuance of debt.
“We are proud of our accomplishments during 2010. We met our financial and operational goals despite the challenging macroeconomic climate facing our industry,” said Edward J. Ludwig, Chairman and Chief Executive Officer. “Our solid performance has enabled us to continue to return significant value to shareholders and also to invest in key geographic expansion, new product platforms and businesses and operational excellence programs. We have confidence in our outlook for fiscal year 2011 and remain committed to serving our customers with superior healthcare products.”
Update on the Sale of Certain Assets in the BD Medical Segment In the fourth quarter of fiscal year 2010, the Company completed the sale of the Ophthalmic Systems unit as well as the surgical blades, critical care and extended dwell catheter product platforms. The results of operations associated with the Ophthalmic Systems unit, surgical blade platform and critical care platform have been reclassified as discontinued operations for all quarters and years referred