(RTTNews) - Diabetes management company Embecta Corp. (EMBC), which was spun-off from medical technology company Becton, Dickinson and Co. (BDX), announced Tuesday that net income for the fourth quarter surged to $14.6 million or $0.25 per share from $6.0 million or $0.10 per share in the prior-year quarter.
Excluding items, adjusted earnings for the quarter were $0.45 per share, compared to $0.59 per share for the year-ago quarter.
Revenues for the quarter increased 1.5 percent to $286.1 million from $281.9 million in the same quarter last year. It was also up 4.1 percent on an adjusted constant currency basis.
On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.36 per share on revenues of $276.88 million for the quarter. Analysts' estimates typically exclude special items.
Looking ahead to fiscal 2025, the company now projects adjusted earnings in a range of $2.70 to $2.90 per share on revenues between $1.093 billion and $1.110 billion. The Street is looking for earnings of $2.27 per share on revenues of 1.12 billion for the year.
The Company's Board of Directors also declared a quarterly cash dividend of $0.15 for each issued and outstanding share of the Company's common stock, payable on December 18, 2024 to stockholders of record at the close of business on December 6, 2024.
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