Becton, Dickinson and Company (BDX -0.1%) settles its patent infringement lawsuit against Insulet (PODD +1.9%). Under the terms of the settlement agreement, Insulet will pay BD $5M and give it a license to a single Insulet patent relating to an environmental seal for a fluid delivery device.
Becton, Dickinson (BDX) FQ1 net profit falls to $271M from $625M a year earlier, which included income of $355M from discontinued operations.
Total operating costs +8.5% to $1.64B.
Revenue breakdown: Medical segment +8.2% to $1.06B, Diagnostics +3.1% to $672M. U.S revenues +2.3%, international +8.9%, reflecting strength in emerging markets.
BD raises the lower end of its FY adjusted EPS guidance by 3 cents and now expects $6.19-6.22 vs $5.81 a year earlier. Consensus is for $6.23. BD projects that reported and currency-neutral revenues will increase 4.5-5% vs a previous prediction of +4-5%.
BD intends to buy back $450M of its common stock during the FY. (PR)
Becton Dickinson & Co is a medical technology company, engaged in the manufacture and sale of medical devices, instrument systems and reagents used by healthcare institutions, life science researchers, clinical laboratories and the general public.