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Analysts polled by Thomson Reuters expect the company to report earnings of $1.24 per share on revenues of $1.85 billion. Analysts' estimates typically exclude special items. In the year-ago period, the company posted earnings from continuing operations of $1.13 per share on revenues of $1.84 billion.
For the full year, the company now sees earnings from continuing operations of between $4.89 and $4.93 per share, or, $4.92 to $4.96 per share, excluding items. GAAP net earnings are estimated to be in the range of $4.93 - $4.97 per share. The earlier forecast provided in July was for earnings from continuing operations of between $4.89 and $4.93 per share. Analysts are looking for earnings of $4.96 per share on revenues of $7.13 billion for the full year.
For the previous quarter, Becton, Dickinson reported higher profit of $341.0 million or $$1.42 per share, compared to $297.1 million or $1.22 per share in the prior-year period. However, quarterly revenues dropped 1.6% to $1.82 billion from the previous year's revenue of $1.85 billion.
While releasing third-quarter results, the Franklin Lakes, New Jersey-based company announced sale of assets associated with its Home Healthcare product line to 3M, including product inventory, brand names and manufacturing associated with ACE, Tensor, Bauer & Black and Tru-Fit products, and thermometers. The company expects to record a gain on the sale of about 5 cents earnings per share from discontinued operations in the fourth quarter.
Among Becton, Dickinson's rivals, Abbott Laboratories (ABT | Quote | Chart | News | PowerRating) posted third-quarter net income of $1.48 billion or $0.95 per share, up from $1.09 billion or $0.69 per share in the prior-year quarter, aided by strong sales of its arthritis drug Humira and nutritional products. Net sales increased 3.5% to $7.76 billion from $7.50 billion in the same quarter of last year.
Another peer, Baxter International Inc. (BAX | Quote | Chart | News | PowerRating) reported higher profit for the third quarter that totaled $530 million or $0.87 per share, compared to $472 million or $0.74 per share a year ago, helped by margin expansion and lower expenses, despite near-flat revenues. Net sales dropped to $3.145 billion from $3.151 billion in the previous year. Excluding the impact of foreign currency, Baxter's worldwide sales increased 6%.
For the fourth quarter of 2009, Baxter expects earnings to range between $1.02 and $1.04 per share, before any special items. Baxter expects fourth-quarter sales growth, excluding the impact of foreign currency, of 6% - 8%. Reported sales including the impact of foreign currency are expected to increase 8% - 10% in the fourth quarter over the prior-year period. Baxter raised its full year 2009 earnings, before any special items, outlook to a range of $3.79 - $3.81 per share from the prior range of $3.76 - $3.80 per share.
Becton, Dickson shares, which have been trading between $58.14 and $77.11 in the past 52 weeks, closed Tuesday's trading session at $69.91, up 96 cents or 1.39%, on a volume of 3.07 million shares.
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