Hologic makes more cuts in drive for profitability
This article was originally published in Clinica
Executive Summary
Becton Dickinson's shares fell from $36.70 to around $32.20 in the period after the company released its fourth-quarter and full-year results and forecast for 2002. The company says it is looking at options for increasing operating efficiency, including possibly "a smaller scale restructuring of manufacturing facilities in the BD medical systems segment". It is also considering divesting some smaller business units. Becton expects earnings-per-share growth of around 10% for 2002. "We continue to deliver revenue and earnings growth in line with the commitments we have made to our shareholders," said Edward Ludwig, CEO. The company's medical device unit had sales of $537 million in the quarter, up 7%. Total safety-engineered products' sales were $253 million in the year, a 55% increase. Becton's clinical laboratory solutions unit had sales of $295 million, a 10% increase.