The San Diego-based medical device company posted profit growth of 78.4% to $173 million, or 83¢ per share, on sales growth of 15.9% to $1.07 billion for the 3 months ended Dec. 31, 2014, compared with the same period in 2013.
Adjusted to exclude 1-time items, earnings per share were 99¢, a full 20¢ above expectations on Wall Street, where analysts were looking for sales of just $1.01 billion.
"Our team remained disciplined in their execution and saw the benefit from investments we’ve made during the past 4 years, with record quarterly results across the company," chairman & CEO Kieran Gallahue said in a statement.
“Results in the medical systems segment were again highlighted by the strength of our medication management offering, anchored by another quarter of strong committed contracts for our industry leading Pyxis dispensing technologies and Alaris infusion systems. In the procedural solutions segment, we continued to grow faster than the market due to the strength of our clinically differentiated products and the impact of our Vital Signs acquisition. Outside the U.S. – where we have been actively refining our offerings and go-to-market models – we recorded double-digit revenue growth in Europe, Asia, Canada and Latin America," Gallahue said.
"I want to thank CareFusion employees around the world for the results they deliver every day for customers and patients. We have built a unique company, and I know I speak for our entire leadership team when I say how proud we have been to work alongside such a dedicated group of individuals," he said.
Last October BD agreed to pay $12.2 billion for CareFusion, in a deal that’s expected to close before the end of the 1st calendar quarter. BD earlier today posted its fiscal 1st-quarter results, reporting profits of $236 million, or $1.20 per share, on sales of $2.05 billion for the 3 months ended Dec. 31, 2014, for a bottom-line slide of 12.9% on sales growth of 1.8%. Excluding some $97 million in pre-tax expenses, however, adjusted earnings per share were $1.53, a full dime ahead of analysts’ expectations (Wall Street was also looking for sales of $2.01 billion). Much of the excluded expenses stemmed from the pending CareFusion acquisition.