(RTTNews) - Medical technology company Becton, Dickinson and Co. (BDX: News ) on Wednesday posted higher profit for the fourth quarter, bolstered by strong performance at its BD Medical and BD Diagnostics segments. Further, the company issued financial forecast for fiscal 2010.

Q4 results

The Franklin Lakes, New Jersey-based company's fourth-quarter net income was $317.2 million, up 12.4% from $282.2 million a year ago. On a per share basis, earnings grew 15.2% to $1.29 from $1.12 in the same quarter of last year.

Income from continuing operations totaled $305.8 million, an increase of 9.6%, compared to $278.9 million in the prior-year quarter. Per share earnings from continuing operations rose 12.6% to $1.25 from $1.11 in the year-earlier period. On a currency-neutral basis, earnings per share from continuing operations for the latest quarter increased 17%.

On average, 8 analysts polled by Thomson Reuters expected the company to post earnings of $1.85 per share. Analysts' estimates typically exclude special items.

Quarterly revenues advanced 4.7% to $1.89 billion from $1.81 billion reported in the corresponding quarter of the previous year. Excluding the unfavorable impact from foreign currency translation, revenues increased 8%. Seven Wall Street analysts had a consensus revenue estimate of $1.85 billion for the quarter.

Edward Ludwig, Chairman and Chief Executive Officer of BD, said, "The achievement of solid fourth quarter performance, in particular BD Medical and BD Diagnostics, marks the conclusion of another successful year for BD. This strong finish to the year provides a platform for growth in fiscal 2010 and gives us confidence we will achieve our stated long-term goals."
Segment & Geographical Review

The company's BD Medical segment fetched fourth-quarter revenue of $1.01 billion, up 8.2% from $929.6 million a year ago, driven by strong sales of Pharmaceutical Systems products, and solid sales of Medical Surgical Systems products. Excluding the unfavorable impact from foreign currency translation, revenue rose 13%.

Worldwide revenues at the BD Diagnostics segment advanced 4.9% to $580.0 million from $553.1 million in the previous year, led by the sales of safety-engineered devices, cancer diagnostics products and infectious disease testing systems, including flu-related products. Excluding the unfavorable impact from foreign currency translation, revenue grew 8%.

Meanwhile, BD Biosciences segment generated quarterly revenues of $312.2 million, a decline of 5.2%, compared the prior-year's revenue of $329.5 million, as funding constraints continued to impact demand in the U.S. for capital equipment in the research and clinical segments. Excluding the unfavorable impact from foreign currency translation, revenues were up 4%.

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