Becton Dickinson & Company (BDX) has reported 1.78 percent rise in profit for the quarter ended Mar. 31, 2017. The company has earned $344 million, or $1.58 a share in the quarter, compared with $338 million, or $1.56 a share for the same period last year. On an adjusted basis, earnings per share were at $2.30 for the quarter compared with $2.18 in the same period last year.

Revenue during the quarter dropped 3.20 percent to $2,969 million from $3,067 million in the previous year period. Gross margin for the quarter contracted 12 basis points over the previous year period to 48.23 percent. Total expenses were 84.98 percent of quarterly revenues, up from 84.81 percent for the same period last year. That has resulted in a contraction of 17 basis points in operating margin to 15.02 percent.

Operating income for the quarter was $446 million, compared with $466 million in the previous year period.

"We are very pleased with our strong second quarter and year-to-date performance, and move forward with strong momentum," said Vincent A. Forlenza, Chairman and chief executive officer. "Both segments contributed to revenue growth, demonstrating the breadth and diversity of the growth drivers within our portfolio. We remain confident in our outlook for fiscal 2017 and our ability to create value for our shareholders."

For financial year 2017, the company forecasts diluted earnings per share to be in the range of $7.73 to $7.83, the company forecasts diluted earnings per share to be in the range of $9.35 to $9.45 on adjusted basis.