Becton, Dickinson & Co. (NYSE:BDX) boosted its top and bottom lines during its just-ended fiscal 2010, with fourth-quarter profits surging more than 25 percent.
The Franklin Lakes, N.J.-based medical device and diagnostics giant reported profits of $1.32 billion, or $5.49 per diluted share, on sales of $7.37 billion for fiscal 2010. That compares with profits of $1.23 billion, or $4.99 per diluted share, on sales of $7.0 billion during fiscal 2009.
Fourth-quarter net income neared $396.7 million, or $1.68 per diluted share, on sales of $1.87 billion, compared with profits of $317.2 million, or $1.29 per diluted share, on sales of $1.85 billion during Q3 2009.
BD also announced plans to buy back up to $1.5 billion worth of its own stock next year and another $600 million in 2012, according to a press release, funding the buybacks with cash and new debt issues.
Looking ahead to fiscal 2011, the company forecast sales growth of about 4 percent and diluted EPS of between $5.45 and $5.55, up roughly 11 percent to 13 percent.
BD shares were trading at $77.24 in early-morning activity, up 2.3 percent.
