Becton, Dickinson and Company (BD) has reported quarterly revenues of USD 3.035 billion for the third fiscal quarter ended June 30, 2017, representing a decrease of 5.1 percent from the prior-year period, and is primarily due to the divestiture of the respiratory solutions business that was completed in October 2016.On a comparable, currency-neutral basis, third quarter revenues grew 2.4 percent.

Diluted earnings per share for the third quarter of 2017 were USD 0.75, compared with USD 1.80 in the prior-year period. This represents a decrease of 141.7 percent and is primarily due to a noncash charge resulting from a modification to dispensing lease contracts with customers as a result of the previously announced change in the U.S. dispensing business model. Adjusted diluted earnings per share were USD 2.46, compared with USD 2.35in the prior-year period.This represents an increase in adjusted diluted earnings per share of 4.7 percent, or 7.7 percent on a currency-neutral basis.

For the nine-month period ended June 30, 2017, diluted earnings per share were USD 3.36, compared with USD 4.41 in the prior-year period. This represents a decrease of 23.8 percent and is primarily due to the aforementioned noncash charge related to the change in the U.S. dispensing business model. Adjusted diluted earnings per share were USD 7.09, compared with USD 6.48 in the prior-year period. This represents an increase in adjusted diluted earnings per share of 9.4 percent, or 13.1 percent on a currency-neutral basis.

The company expects full fiscal year 2017 revenues to decrease 3.0–3.5 percent, primarily due to the aforementioned divestiture of the respiratory solutions business. This is an improvement from previously issued guidance of a 3.5–4.0 percent decrease in revenues and is due to a reduction in the estimated negative impact from foreign currency. The company continues to estimate that revenues for the full fiscal year 2017 will increase 4.5–5.0 percenton a comparable, currency-neutral basis that excludes respiratory solutions and other divestitures that closed in fiscal year 2016.


Why is The Government So Bad at Health Care?

 

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