WASHINGTON (dpa-AFX) - Becton, Dickinson and Co. (BDX) posted 6.7% lower second-quarter net income of $291.03 million compared with last year's $312.02 million, while quarterly net income per share improved 0.7% to $1.39 from $1.38 a year before. As anticipated, reported earnings per share from continuing operations remained flat at $1.38 versus the previous year. On average, 19 analysts polled by Thomson Reuters expected earnings per share of $1.38 for the quarter. Analysts' estimates typically exclude one-time items.
On a foreign currency-neutral basis, earnings per share from continuing operations for the recent quarter went up 2.9 percent.
Revenues totaled $1.99 billion for the second fiscal quarter, a 3.6 percent increase from $1.92 billion in the prior-year period, or up 4.6 percent on a foreign currency-neutral basis. Sixteen analysts estimated revenue of $1.94 billion for the quarter.
Looking ahead, BD revised up its full-year forecast for earnings per share from continuing operations to $5.68 - $5.73 from its earlier guidance of $5.60 - $5.70, as well as plans to repurchase $1.5 billion of its common stock in fiscal 2012. Analysts project earnings of $5.66 per share for fiscal 2012.
Also, the company increased its fiscal 2012 guidance for reported revenue growth from about flat to be between 1 percent and 2 percent, reflecting the anticipated effects of favorable currency translation. On a currency-neutral basis, the company raised the lower end of its revenue growth guidance of 2 to 4 percent, to 3 to 4 percent.
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