BD reports better-than-expected results for Q1 2014

BD has announced its financial results for the first quarter of 2014, demonstrating a higher-than-expected level of growth.

The company's quarterly revenue total of $2.0 billion (1.23 billion pounds) represented a six percent year-on-year increase. This performance was aided in part by the favourable timing of recent orders taken by the BD Medical and BD Diagnostics segments.

Strong sales for the firm's medical surgical systems, diabetes care and pharmaceutical systems divisions contributed to the final revenue total, as did international expansion in both the preanalytical systems and diagnostic systems business units. Encouraging clinical reagents sales and solid instrument placements in both the US and western Europe were also observed.

Following the publication of these results, BD has elected to raise the bottom end of its previous revenue and earnings ranges for its full fiscal year guidance.

Vincent Forlenza, chairman, chief executive officer and president at BD, said: "Our revenue and earnings growth exceeded our expectations and we have continuing confidence that we have built a solid foundation for future growth."

This comes after the firm strengthened its capabilities last month through the acquisition of the California-based diagnostic instrument company Alverix.