By Kim Richters
Becton, Dickinson and Co. (BDX) on Tuesday said it swung to a profit in the fourth quarter of its fiscal year on higher revenue.
The New Jersey-based medical-technology company earned a quarterly profit of $150 million, or 41 cents a share, compared with a loss of $135 million, or 64 cents a share, for the same period last year.
On adjusted basis, the company reported a profit of $3.31 a share for the quarter, compared with $2.93 last year and analysts' forecasts of $3.30, according to FactSet.
Revenue rose to $4.58 billion from $4.04 billion for the quarter, while revenue for its fiscal year ending Sept. 30 increased 8.2% to $17.30 billion.
For the next fiscal year, the company expects revenue to increase 4-4.5% and adjusted profit per share to increase 9.5-11% to between $12.50 and $12.65.
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