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Becton Dickinson Records 4Q Profit as Covid-19 Testing Drives Sales

By Matt Grossman

Becton, Dickinson & Co. 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 Franklin Lakes, N.J.-based medical-technology company logged a net profit of $105 million, or 36 cents a share, compared with a profit of $125 million, or 45 cents a share, a year earlier.

On an adjusted basis, profit was $2.79 a share. Analysts surveyed by FactSet had expected adjusted earnings of $2.42 a share.

Revenue was $4.78 billion, up 4.4% from $4.58 billion. Analysts had been expecting revenue of $4.49 billion.

Sales for the company's life-sciences segment rose 31.2% year over year to $1.49 billion, the company said, citing strong sales of equipment related to Covid-19 testing. Sales at Becton Dickinson's medical segment fell 4.9% as medication delivery, diabetes care and medication management revenue declined on the back of lower demand that the company attributed to the pandemic.

Write to Matt Grossman at

(END) Dow Jones Newswires

November 05, 2020 06:36 ET (11:36 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

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