BD reports year-on-year growth in Q1 2013

BD has announced its financial results for the first quarter of its 2013 business year, during which it experienced a 3.7 per cent year-on-year increase in revenues.

The company's sales revenue total for the three months came to $1.9 billion (1.22 billion pounds) for the three months ending on December 31st 2012, with its diagnostics division showing the strongest rate of growth, followed by its medical segment.

During the quarter, the firm was able to complete its acquisition of Safety Syringes, a manufacturer of anti-needlestick devices for prefilled syringes, while it also succeeded in expanding its emerging market sales.

As a result, BD is raising the bottom end of its previously communicated revenue growth guidance for the year from 3.5 to 4.5 percent to 4.0 to 4.5 percent.

Vincent Forlenza, chairman, chief executive officer and president of BD, said: "After two years of significant investments in our business, we are starting to see notable results. We are growing revenues across our three segments, driving margin expansion and delivering a higher quality of earnings."

Last month, the firm's board declared a quarterly dividend of 49.5 cents per common share, payable on March 29th.