May 7, 2020 -- Becton Dickinson (BD) saw its revenues grow slightly for the second quarter, but the company withdrew its previously issued guidance due to fallout from the COVID-19 pandemic.
For the quarter, BD reported sales of $4.253 billion, up 1.4% from $4.195 billion in the same period of 2019. The company's net income was $183 million, compared with $20 million in the corresponding quarter of 2019.
The company said that revenues in its Life Sciences segment grew 1.5% over the previous year to $591 million, compared with $582 million, with strong performance turned in by its diagnostic systems and preanalytical systems units. Growth in Life Sciences was aided by stronger demand for flu testing, as well as demand related to COVID-19 testing.
The company's biosciences unit saw reduced demand for instruments and reagents as research activity slowed during the COVID-19 outbreak, however. Sales fell to $108 million, down 9.8% from $120 million in the corresponding quarter the year before.
The company said it was withdrawing its previously issued guidance for both revenues and earnings due to the COVID-19 pandemic.