Franklin Lakes, NJ (January 22, 1997) -- Becton Dickinson and Company (NYSE: BDX) today reported net income of $58 million for the first quarter of its fiscal year, an increase of 31 percent compared with net income of $45 million a year ago. Earnings per share were $.44 for the quarter, an increase of 38 percent versus last year's results of $.32.

Revenues were $656 million for the fiscal first quarter, which ended December 31, 1996, compared with last year's first quarter of $640 million. The company noted that foreign currency translation reduced revenues by an estimated $11 million. The company said that excluding the effects of currency translation and the absence of revenues from divested businesses, underlying revenue growth for the quarter would be 9 percent.

Clateo Castellini, Chairman, President and Chief Executive Officer, said, "The first quarter showed excellent growth in earnings. Improved gross profit margin demonstrates the continuing effect of productivity gains and an improved product mix. Operating income improved 20 percent, a result of higher revenues and increased gross profit margin. We are pleased by these results and look forward to continued earnings growth for the remainder of fiscal 1997."

Segment and Geographic Revenues

Led by the performance of its worldwide injection systems and infusion therapy businesses, the company's medical segment showed good underlying revenue growth for the quarter. In the diagnostic segment, flow cytometry revenues continued very strong as did the company's worldwide sample collection business.

By business segment, medical supplies and devices revenues totaled $348 million. Diagnostic systems revenues were $308 million. On a geographic basis, revenues in the United States were $331 million, while revenues outside the United States were $325 million.

Three Months Ended December 31

Three Months Ended December 31