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.
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(END) Dow Jones Newswires
November 05, 2020 06:36 ET (11:36 GMT)Copyright (c) 2020 Dow Jones & Company, Inc.