Quantcast

BD Announces Results For 2011 Third Fiscal Quarter

August 2, 2011

FRANKLIN LAKES, N.J., Aug. 2, 2011 /PRNewswire/ — BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, today reported quarterly revenues of $2.014 billion for the third fiscal quarter ended June 30, 2011, representing an increase of 10.0 percent from the prior-year period. On a foreign currency-neutral basis, revenues increased 4.8 percent.

“We are pleased with our solid results this quarter, with all three segments contributing to growth,” said Edward J. Ludwig, Chairman and Chief Executive Officer. “Gross margin expansion reflecting favorable product mix has offset some of the headwinds we have been facing as a result of a challenging macroeconomic environment and increased raw material costs.”

Agreement to Acquire Carmel Pharma, AB

On July 27, 2011, the Company announced that it had signed a definitive agreement to acquire Carmel Pharma, AB, a Swedish company that manufactures the PhaSeal® System. This is the leading closed-system drug transfer device for the safe handling of hazardous drugs that are packaged in vials. The acquisition is expected to close prior to the end of this fiscal year.

Third Quarter and Nine-Month Fiscal 2011 Operating Results

Reported diluted earnings per share from continuing operations for the third quarter were $1.51, compared with $1.23 in the prior-year period, representing a 22.8 percent increase, or 13.8 percent on a currency-neutral basis.

For the nine-month period ending June 30, 2011, reported diluted earnings per share from continuing operations were $4.23, compared with $3.66 in the prior-year period. The prior-year period included a non-cash charge of $8.9 million, or $0.04 per share, related to healthcare reform impacting Medicare Part D reimbursements. Excluding that item, earnings per share from continuing operations increased by 14.3 percent, compared with adjusted diluted earnings per share from continuing operations of $3.70 in the prior-year period, or 8.1 percent on a currency-neutral basis.

Segment Results

In the BD Medical segment, worldwide revenues for the quarter were $1.045 billion, representing an increase of 10.5 percent compared with the prior-year period, or 4.9 percent on a foreign currency-neutral basis. Revenues reflected strong sales of Pharmaceutical Systems products and international safety, along with solid sales of Diabetes Care products. For the nine-month period ended June 30, 2011, BD Medical revenues increased 4.0 percent, or 1.7 percent on a foreign currency-neutral basis.

In the BD Diagnostics segment, worldwide revenues for the quarter were $631 million, representing an increase of 9.6 percent compared with the prior-year period, or 4.8 percent on a foreign currency-neutral basis. Revenues reflected solid growth in Preanalytical Systems safety-engineered products and strong growth in both the Women’s Health and Cancer and the Infectious Disease product offerings in the Diagnostics Systems unit. For the nine-month period ended June 30, 2011, BD Diagnostics revenues increased 6.4 percent, or 3.9 percent on a foreign currency-neutral basis.

In the BD Biosciences segment, worldwide revenues for the quarter were $338 million, representing an increase of 9.3 percent compared with the prior-year period, or 4.3 percent on a foreign currency-neutral basis. Segment growth was driven primarily by instrument and reagent sales in the Cell Analysis unit. Discovery Labware revenues in the U.S. were negatively impacted by weakness in core consumables. The segment’s revenues also reflected softness in Western Europe due to government research funding delays. For the nine-month period ended June 30, 2011, BD Biosciences revenues increased by 5.7 percent, or 2.7 percent on a foreign currency-neutral basis.

Geographic Results

Third quarter revenues in the U.S. were $855 million, representing an increase of 5.7 percent compared with the prior-year period. Revenues outside of the U.S. were $1.159 billion, representing an increase of 13.4 percent compared with the prior-year period, or 4.1 percent on a foreign currency-neutral basis. Revenues reflected continued strength in emerging markets, which was partially offset by ongoing challenging macroeconomic conditions in Western Europe. For the nine-month period ended June 30, 2011, revenues in the U.S. were $2.513 billion, representing an increase of 2.4 percent compared with the prior-year period. Revenues outside of the U.S. were $3.265 billion, representing an increase of 7.2 percent compared with the prior-year period, or 2.8 percent on a foreign currency-neutral basis.

Fiscal Year 2011 Outlook

Reported revenue growth guidance for the full fiscal year 2011 is expected to be at the higher end of the previously communicated range of 5 to 6 percent compared with fiscal year 2010, due to the anticipated effects of favorable currency. On a foreign currency-neutral basis, the Company is lowering its revenue growth guidance to an increase of about 3 percent versus its previously communicated guidance of about 3.5 percent, mainly due to lower than expected sales in Western Europe.

The Company is raising its previous guidance for reported diluted earnings per share from continuing operations for fiscal year 2011 from $5.55-$5.65 to $5.65-$5.70, an increase of approximately 15 to 16 percent over fiscal year 2010, due to the anticipated effects of favorable currency. Diluted earnings per share from continuing operations for fiscal year 2011 are expected to increase 14 to 15 percent over adjusted diluted earnings per share from continuing operations of $4.94, excluding the specified item, for fiscal year 2010. The specified item represents the aforementioned 2010 non-cash charge of $0.04 per share related to healthcare reform. On a currency-neutral basis, the Company continues to expect diluted earnings per share from continuing operations to increase about 10 percent over adjusted diluted earnings per share in the prior-year period, despite lower than expected revenue growth and higher resin costs.

Conference Call Information

A conference call regarding BD’s third quarter results and its expectations will be broadcast live on BD’s website, www.bd.com/investors, along with related slides, at 8:00 a.m. (ET) Tuesday, August 2, 2011. The slides are available concurrent with the issuance of this press release at www.bd.com/investors. The conference call will be available for replay on BD’s website, www.bd.com/investors, or at 855-859-2056 (domestic) and 404-537-3406 (international) through the close of business on Tuesday, August 9, 2011, access code 82566570.

Non-GAAP Financial Measures

This news release contains certain non-GAAP financial measures. Reconciliations of these and other non-GAAP measures to the comparable GAAP measures are included in the attached financial tables.

About BD

BD is a leading global medical technology company that develops, manufactures and sells medical devices, instrument systems and reagents. The Company is dedicated to improving people’s health throughout the world. BD is focused on improving drug delivery, enhancing the quality and speed of diagnosing infectious diseases and cancers, and advancing research, discovery and production of new drugs and vaccines. BD’s capabilities are instrumental in combating many of the world’s most pressing diseases. Founded in 1897 and headquartered in Franklin Lakes, New Jersey, BD employs approximately 29,000 associates in more than 50 countries throughout the world. The Company serves healthcare institutions, life science researchers, clinical laboratories, the pharmaceutical industry and the general public. For more information, please visit www.bd.com.

This press release, including the section entitled “Fiscal Year 2011 Outlook”, contains certain estimates and other forward-looking statements (as defined under Federal securities laws) regarding BD’s performance, including future revenues and earnings per share. Forward-looking statements may be identified by the use of words such as “expect”, “estimate” or words of similar meaning in conjunction with statements of future performance. All such statements are based upon current expectations of BD and involve a number of business risks and uncertainties. Actual results could vary materially from anticipated results described, implied or projected in any forward-looking statement. With respect to forward-looking statements contained herein, a number of factors could cause actual results to vary materially from any forward-looking statement. These factors include, but are not limited to: the potential adverse effects that the earthquake and tsunami in Japan and the situation regarding the Fukushima, Japan nuclear power plant may have on BD’s future operations in Japan; the unknown consequences of the recently-enacted healthcare reform in the United States, including the impact of the reduction in Medicare and Medicaid payments to hospitals, pharmaceutical companies and other customers, which could reduce demand for BD’s products and increase downward pricing pressure; adverse changes in regional, national or foreign economic conditions, including any impact that may result from the current global economic situation on BD’s ability to access credit markets and finance its operations, the demand for BD’s products and services, or its suppliers’ ability to provide products needed for BD’s operations; changes in interest or foreign currency exchange rates; competitive factors; pricing and market share pressures; difficulties inherent in product development and delays in product introductions; increases in energy costs and their effect on, among other things, the cost of producing BD’s products; fluctuations in costs and availability of raw materials and in BD’s ability to maintain favorable supplier arrangements and relationships; new or changing laws impacting BD’s business or changes in enforcement practices with respect to such laws; uncertainties of litigation (as described in BD’s filings with the Securities and Exchange Commission); future healthcare reform, including changes in government pricing and reimbursement policies or other cost containment reforms; the effects of potential pandemic diseases; BD’s ability to successfully integrate any businesses it acquires; and issuance of new or revised accounting standards, as well as other factors discussed in BD’s filings with the Securities and Exchange Commission. BD does not intend to update any forward-looking statements to reflect events or circumstances after the date hereof except as required by applicable laws or regulations.

    BECTON DICKINSON AND COMPANY
    CONSOLIDATED INCOME STATEMENTS
    (Unaudited; Amounts in thousands, except per share data)
                                         Three Months Ended June 30,
                                               2011         2010     % Change
                                               ----         ----     --------

    REVENUES                             $2,014,081   $1,830,911         10.0

    Cost of products sold                   951,980      883,434          7.8
    Selling and administrative              474,646      416,468         14.0
    Research and development                115,748      108,047          7.1
    ------------------------                -------      -------          ---
    TOTAL OPERATING COSTS
         AND EXPENSES                     1,542,374    1,407,949          9.5
         ------------                     ---------    ---------          ---

    OPERATING INCOME                        471,707      422,962         11.5

    Interest income                          11,508        2,094           NM
    Interest expense                        (22,211)     (13,085)        69.7
    Other (expense) income, net                (363)       1,402           NM
    ---------------------------                ----        -----          ---

    INCOME FROM CONTINUING OPERATIONS
     BEFORE
         INCOME TAXES                       460,641      413,373         11.4

    Income tax provision                    122,531      119,213          2.8
    --------------------                    -------      -------          ---

    INCOME FROM CONTINUING OPERATIONS       338,110      294,160         14.9

    INCOME FROM DISCONTINUED OPERATIONS
       NET OF INCOME TAX PROVISION OF
           $111 AND $4,340, RESPECTIVELY      4,948       12,748        (61.2)
           -----------------------------      -----       ------        -----

    NET INCOME                             $343,058     $306,908         11.8
    ----------                             --------     --------         ----

    EARNINGS PER SHARE

    Basic:
    Income from continuing operations         $1.54        $1.26         22.2
    Income from discontinued operations       $0.02        $0.05        (60.0)
    Net income (1)                            $1.57        $1.32         18.9

    Diluted:
    Income from continuing operations         $1.51        $1.23         22.8
    Income from discontinued operations       $0.02        $0.05        (60.0)
    Net income (1)                            $1.53        $1.29         18.6

    AVERAGE SHARES OUTSTANDING

         Basic                              218,966      233,242
         Diluted                            223,567      238,319
         -------                            -------      -------
    NM - Not Meaningful
    (1) Total per share amounts may not add due to rounding

    BECTON DICKINSON AND COMPANY
    CONSOLIDATED INCOME STATEMENTS
    (Unaudited; Amounts in thousands, except per share data)
                                          Nine Months Ended June 30,
                                                2011         2010    % Change
                                                ----         ----    --------

    REVENUES                              $5,778,109   $5,499,138         5.1

    Cost of products sold                  2,738,000    2,642,250         3.6
    Selling and administrative             1,364,543    1,283,217         6.3
    Research and development                 350,441      307,391        14.0
    ------------------------                 -------      -------        ----
    TOTAL OPERATING COSTS
         AND EXPENSES                      4,452,984    4,232,858         5.2
         ------------                      ---------    ---------         ---

    OPERATING INCOME                       1,325,125    1,266,280         4.6

    Interest income                           41,294       20,535          NM
    Interest expense                         (61,685)     (38,985)       58.2
    Other expense, net                        (7,481)        (788)         NM
    ------------------                        ------         ----         ---

    INCOME FROM CONTINUING OPERATIONS
     BEFORE
         INCOME TAXES                      1,297,253    1,247,042         4.0

    Income tax provision                     333,804      363,755        (8.2)
    --------------------                     -------      -------        ----

    INCOME FROM CONTINUING OPERATIONS        963,449      883,287         9.1

    INCOME FROM DISCONTINUED OPERATIONS
       NET OF INCOME TAX PROVISION OF
           $711 AND $13,058, RESPECTIVELY      7,566       37,628       (79.9)
           ------------------------------      -----       ------       -----

    NET INCOME                              $971,015     $920,915         5.4
    ----------                              --------     --------         ---

    EARNINGS PER SHARE

    Basic:
    Income from continuing operations          $4.33        $3.75        15.5
    Income from discontinued operations        $0.03        $0.16       (81.3)
    Net income                                 $4.36        $3.91        11.5

    Diluted:
    Income from continuing operations          $4.23        $3.66        15.6
    Income from discontinued operations        $0.03        $0.16       (81.3)
    Net income                                 $4.26        $3.82        11.5

    AVERAGE SHARES OUTSTANDING

         Basic                               222,674      235,316
         Diluted                             227,782      241,151
         -------                             -------      -------
    NM - Not Meaningful

    BECTON DICKINSON AND COMPANY
    SUPPLEMENTAL REVENUE INFORMATION
    REVENUES BY SEGMENT AND GEOGRAPHIC AREA
    (Unaudited; Amounts in thousands)
                       Three Months Ended June 30,
                           2011             2010   % Change
                           ----             ----   --------

    BD MEDICAL
    ----------
       United States   $416,729         $381,761        9.2
       International    628,107          563,761       11.4
       -------------    -------          -------
    TOTAL            $1,044,836         $945,522       10.5
    -----            ----------         --------       ----

    BD DIAGNOSTICS
    --------------
       United States   $312,802         $303,521        3.1
       International    318,557          272,748       16.8
       -------------    -------          -------
    TOTAL              $631,359         $576,269        9.6
    -----              --------         --------        ---

    BD BIOSCIENCES
    --------------
       United States   $125,933         $124,146        1.4
       International    211,953          184,974       14.6
       -------------    -------          -------
    TOTAL              $337,886         $309,120        9.3
    -----              --------         --------        ---

    TOTAL REVENUES
    --------------
       United States   $855,464         $809,428        5.7
       International  1,158,617        1,021,483       13.4
       -------------  ---------        ---------
    TOTAL            $2,014,081       $1,830,911       10.0
    -----            ----------       ----------       ----

    BECTON DICKINSON AND COMPANY
    SUPPLEMENTAL REVENUE INFORMATION
    REVENUES BY SEGMENT AND GEOGRAPHIC AREA
    (Unaudited; Amounts in thousands)
                       Nine Months Ended June 30,
                           2011             2010  % Change
                           ----             ----  --------

    BD MEDICAL
    ----------
       United States $1,220,744       $1,196,105       2.1
       International  1,731,969        1,641,722       5.5
       -------------  ---------        ---------
    TOTAL            $2,952,713       $2,837,827       4.0
    -----            ----------       ----------       ---

    BD DIAGNOSTICS
    --------------
       United States   $932,269         $906,566       2.8
       International    906,160          820,849      10.4
       -------------    -------          -------
    TOTAL            $1,838,429       $1,727,415       6.4
    -----            ----------       ----------       ---

    BD BIOSCIENCES
    --------------
       United States   $360,234         $351,933       2.4
       International    626,733          581,963       7.7
       -------------    -------          -------
    TOTAL              $986,967         $933,896       5.7
    -----              --------         --------       ---

    TOTAL REVENUES
    --------------
       United States $2,513,247       $2,454,604       2.4
       International  3,264,862        3,044,534       7.2
       -------------  ---------        ---------
    TOTAL            $5,778,109       $5,499,138       5.1
    -----            ----------       ----------       ---

    BECTON DICKINSON AND COMPANY
    SUPPLEMENTAL REVENUE INFORMATION
    REVENUES BY BUSINESS SEGMENTS AND UNITS
    Three Months Ended June 30,
    (Unaudited; Amounts in thousands)
                                         United States
                                         -------------
                                    2011           2010 % Change
                                    ----           ---- --------

    BD MEDICAL
    ----------
       Medical Surgical Systems $244,756       $239,866      2.0
       Diabetes Care             100,465         96,071      4.6
       Pharmaceutical Systems     71,508         45,824     56.0
    TOTAL                       $416,729       $381,761      9.2
    -----                       --------       --------      ---

    BD DIAGNOSTICS
    --------------
       Preanalytical Systems    $162,589       $159,228      2.1
       Diagnostic Systems        150,213        144,293      4.1
       ------------------        -------        -------
    TOTAL                       $312,802       $303,521      3.1
    -----                       --------       --------      ---

    BD BIOSCIENCES
    --------------
       Cell Analysis             $89,162        $84,365      5.7
       Discovery Labware          36,771         39,781     (7.6)
       -----------------          ------         ------
    TOTAL                       $125,933       $124,146      1.4
    -----                       --------       --------      ---

    TOTAL UNITED STATES         $855,464       $809,428      5.7
    -------------------         --------       --------      ---

    BECTON DICKINSON AND COMPANY
    SUPPLEMENTAL REVENUE INFORMATION
    REVENUES BY BUSINESS SEGMENTS AND UNITS
    Three Months Ended June 30, (continued)
    (Unaudited; Amounts in thousands)
                                        International
                                        -------------
                                                             % Change
                                                             --------
                                                                          FX
                                      2011       2010 Reported FXN     Impact
                                      ----       ---- -------- ---    -------

    BD MEDICAL
    ----------
       Medical Surgical Systems   $284,262   $253,687     12.1   3.0       9.1
       Diabetes Care               119,719    101,081     18.4   7.8      10.6
       Pharmaceutical Systems      224,126    208,993      7.2  (1.8)      9.0
                                                                           ---
    TOTAL                         $628,107   $563,761     11.4   2.1       9.3
    -----                         --------   --------     ----   ---       ---

    BD DIAGNOSTICS
    --------------
       Preanalytical Systems      $167,737   $144,298     16.2   6.0      10.2
       Diagnostic Systems          150,820    128,450     17.4   7.5       9.9
       ------------------
    TOTAL                         $318,557   $272,748     16.8   6.7      10.1
    -----                         --------   --------     ----   ---      ----

    BD BIOSCIENCES
    --------------
       Cell Analysis              $165,866   $146,068     13.6   5.5       8.1
       Discovery Labware            46,087     38,906     18.5   8.9       9.6
       -----------------
    TOTAL                         $211,953   $184,974     14.6   6.2       8.4
    -----                         --------   --------     ----   ---       ---

    TOTAL INTERNATIONAL         $1,158,617 $1,021,483     13.4   4.1       9.3
    -------------------         ---------- ----------     ----   ---       ---

    BECTON DICKINSON AND COMPANY
    SUPPLEMENTAL REVENUE INFORMATION
    REVENUES BY BUSINESS SEGMENTS AND UNITS
    Three Months Ended June 30, (continued)
    (Unaudited; Amounts in thousands)

                                              Total
                                              -----
                                                             % Change
                                                             --------
                                                                          FX
                                2011       2010     Reported   FXN     Impact
                                ----       ----     --------   ---    -------

    BD MEDICAL
    ----------
       Medical Surgical
        Systems             $529,018   $493,553          7.2     2.5       4.7
       Diabetes Care         220,184    197,152         11.7     6.2       5.5
       Pharmaceutical
        Systems              295,634    254,817         16.0     8.6       7.4
    TOTAL                 $1,044,836   $945,522         10.5     4.9       5.6
    -----                 ----------   --------         ----     ---       ---

    BD DIAGNOSTICS
    --------------
       Preanalytical
        Systems             $330,326   $303,526          8.8     4.0       4.8
       Diagnostic Systems    301,033    272,743         10.4     5.7       4.7
       ------------------
    TOTAL                   $631,359   $576,269          9.6     4.8       4.8
    -----                   --------   --------          ---     ---       ---

    BD BIOSCIENCES
    --------------
       Cell Analysis        $255,028   $230,433         10.7     5.6       5.1
       Discovery Labware      82,858     78,687          5.3     0.6       4.7
       -----------------
    TOTAL                   $337,886   $309,120          9.3     4.3       5.0
    -----                   --------   --------          ---     ---       ---

    TOTAL REVENUES        $2,014,081 $1,830,911         10.0     4.8       5.2
    --------------        ---------- ----------         ----     ---       ---

    BECTON DICKINSON AND COMPANY
    SUPPLEMENTAL REVENUE INFORMATION
    REVENUES BY BUSINESS SEGMENTS AND UNITS
    Nine Months Ended June 30,
    (Unaudited; Amounts in thousands)

                                          United States
                                          -------------
                                      2011             2010       % Change
                                      ----             ----       --------

    BD MEDICAL
    ----------
       Medical Surgical
        Systems                   $733,582         $751,032           (2.3)
       Diabetes Care               295,989          285,150            3.8
       Pharmaceutical
        Systems                    191,173          159,923           19.5
    TOTAL                       $1,220,744       $1,196,105            2.1
    -----                       ----------       ----------            ---

    BD DIAGNOSTICS
    --------------
       Preanalytical
        Systems                   $481,624         $465,395            3.5
       Diagnostic Systems          450,645          441,171            2.1
       ------------------          -------          -------
    TOTAL                         $932,269         $906,566            2.8
    -----                         --------         --------            ---

    BD BIOSCIENCES
    --------------
       Cell Analysis              $252,423         $240,152            5.1
       Discovery Labware           107,811          111,781           (3.6)
       -----------------           -------          -------
    TOTAL                         $360,234         $351,933            2.4
    -----                         --------         --------            ---

    TOTAL UNITED
     STATES                     $2,513,247       $2,454,604            2.4
    ------------                ----------       ----------            ---

    BECTON DICKINSON AND COMPANY
    SUPPLEMENTAL REVENUE INFORMATION
    REVENUES BY BUSINESS SEGMENTS AND UNITS
    Nine Months Ended June 30, (continued)
    (Unaudited; Amounts in thousands)
                                  International
                                  -------------
                                                        % Change
                                                        --------
                                                                     FX
                                2011       2010 Reported  FXN     Impact
                                ----       ---- --------  ---    -------

    BD MEDICAL
    ----------
       Medical Surgical
        Systems             $812,752   $756,963      7.4    2.1       5.3
       Diabetes Care         345,837    301,508     14.7    9.6       5.1
       Pharmaceutical
        Systems              573,380    583,251     (1.7)  (3.5)      1.8
    TOTAL                 $1,731,969 $1,641,722      5.5    1.5       4.0
    -----                 ---------- ----------      ---    ---       ---

    BD DIAGNOSTICS
    --------------
       Preanalytical
        Systems             $467,570   $425,967      9.8    4.6       5.2
       Diagnostic Systems    438,590    394,882     11.1    5.7       5.4
       ------------------
    TOTAL                   $906,160   $820,849     10.4    5.2       5.2
    -----                   --------   --------     ----    ---       ---

    BD BIOSCIENCES
    --------------
       Cell Analysis        $498,864   $464,091      7.5    3.1       4.4
       Discovery Labware     127,869    117,872      8.5    2.3       6.2
       -----------------
    TOTAL                   $626,733   $581,963      7.7    2.9       4.8
    -----                   --------   --------      ---    ---       ---

    TOTAL
     INTERNATIONAL        $3,264,862 $3,044,534      7.2    2.8       4.4
    --------------        ---------- ----------      ---    ---       ---

    BECTON DICKINSON AND COMPANY
    SUPPLEMENTAL REVENUE INFORMATION
    REVENUES BY BUSINESS SEGMENTS AND UNITS
    Nine Months Ended June 30, (continued)
    (Unaudited; Amounts in thousands)
                                              Total
                                              -----
                                                             % Change
                                                             --------
                                                                          FX
                                      2011       2010 Reported FXN     Impact
                                      ----       ---- -------- ---    -------

    BD MEDICAL
    ----------
       Medical Surgical Systems $1,546,334 $1,507,995      2.5  (0.1)      2.6
       Diabetes Care               641,826    586,658      9.4   6.8       2.6
       Pharmaceutical Systems      764,553    743,174      2.9   1.5       1.4
    TOTAL                       $2,952,713 $2,837,827      4.0   1.7       2.3
    -----                       ---------- ----------      ---   ---       ---

    BD DIAGNOSTICS
    --------------
       Preanalytical Systems      $949,194   $891,362      6.5   4.0       2.5
       Diagnostic Systems          889,235    836,053      6.4   3.8       2.6
       ------------------
    TOTAL                       $1,838,429 $1,727,415      6.4   3.9       2.5
    -----                       ---------- ----------      ---   ---       ---

    BD BIOSCIENCES
    --------------
       Cell Analysis              $751,287   $704,243      6.7   3.8       2.9
       Discovery Labware           235,680    229,653      2.6  (0.5)      3.1
       -----------------
    TOTAL                         $986,967   $933,896      5.7   2.7       3.0
    -----                         --------   --------      ---   ---       ---

    TOTAL REVENUES              $5,778,109 $5,499,138      5.1   2.6       2.5
    --------------              ---------- ----------      ---   ---       ---

    BECTON DICKINSON AND COMPANY
    SUPPLEMENTAL REVENUE INFORMATION
    SAFETY REVENUES
    (Unaudited; Amounts in thousands)
                               Three Months Ended June 30,
                               ---------------------------
                                                           % Change
                                                           --------
                                                                        FX
                          2011     2010       Reported       FXN     Impact
                          ----     ----       --------       ---    -------

    TOTAL SAFETY
     REVENUES
    ------------
       United States  $280,696 $270,604            3.7         3.7         -
       International   198,417  157,851           25.7        14.1      11.6
       -------------   -------  -------           ----                  ----
    TOTAL             $479,113 $428,455           11.8         7.6       4.2
    -----             -------- --------           ----         ---       ---

    BY SEGMENT
    ----------
       BD Medical     $223,460 $195,400           14.4        10.4       4.0
       BD Diagnostics  255,653  233,055            9.7         5.2       4.5
       --------------  -------  -------            ---                   ---
    TOTAL             $479,113 $428,455           11.8         7.6       4.2
    -----             -------- --------           ----         ---       ---


                                 Nine Months Ended June 30,
                                 --------------------------
                                                            % Change
                                                            --------
                                                                         FX
                            2011        2010       Reported   FXN     Impact
                            ----        ----       --------   ---    -------

    TOTAL SAFETY
     REVENUES
    ------------
       United States    $828,002    $825,463            0.3     0.3         -
       International     545,530     461,517           18.2    11.9       6.3
       -------------     -------     -------           ----               ---
    TOTAL             $1,373,532  $1,286,980            6.7     4.5       2.2
    -----             ----------  ----------            ---     ---       ---

    BY SEGMENT
    ----------
       BD Medical       $641,635    $610,262            5.1     3.0       2.1
       BD Diagnostics    731,897     676,718            8.2     5.8       2.4
       --------------    -------     -------            ---               ---
    TOTAL             $1,373,532  $1,286,980            6.7     4.5       2.2
    -----             ----------  ----------            ---     ---       ---

    BECTON DICKINSON AND COMPANY
    SUPPLEMENTAL INFORMATION
    FY2011 Year-to-Date Reconciliation
    (Unaudited; Amounts in millions, except per share data)
                               Nine Months Ended June 30,
                               --------------------------
                               Reported Reported          Adjusted Adjusted
                               FY 2011  FY 2010  Tax (1)  FY 2010  % Growth
                               -------  -------  -------  -------  --------

    Diluted Earnings per Share
    from Continuing Operations    $4.23    $3.66    $0.04    $3.70     14.3%
    (1) Represents a non-cash charge related to healthcare reform
        impacting Medicare Part D reimbursements.

    BECTON DICKINSON AND COMPANY
    SUPPLEMENTAL INFORMATION
    Quarter-to-Date Fiscal 2011 Reconciliation - FX Impact
    (Unaudited; Amounts in millions, except per share data)
                               Three Months Ended June 30,
                               ---------------------------
                                                       Reported   Foreign
                               Reported Reported       Growth     Currency
                               FY 2011  FY 2010               $ Translation
                               -------  -------             --- -----------

    REVENUES                     $2,014   $1,831           $183         $94

    Diluted Earnings per Share
    from Continuing Operations    $1.51    $1.23          $0.28       $0.11


                                Three Months Ended June 30,
                                ---------------------------
                                FY10
                               Hedge        Total        FXN     FXN
                               Loss          FX         Change Growth
                               ----         ---         ------ ------

    REVENUES                       $1         $96          $88    4.8%

    Diluted Earnings per Share
    from Continuing Operations  $0.00       $0.11        $0.17   13.8%
    FXN = Foreign Currency Neutral
    All figures rounded. Totals may not add due to rounding.

    BECTON DICKINSON AND COMPANY
    SUPPLEMENTAL INFORMATION
    Year-to-Date Fiscal 2011 Reconciliation - FX Impact
    (Unaudited; Amounts in millions, except per share data)
                               Nine Months Ended June 30,
                               --------------------------
                                                       Adjusted   Foreign
                               Reported Adjusted       Growth     Currency
                               FY 2011  FY 2010               $ Translation
                               -------  -------             --- -----------

    REVENUES                     $5,778   $5,499           $279         $94

    Diluted Earnings per Share
    from Continuing Operations    $4.23    $3.70          $0.53       $0.12


                                Nine Months Ended June 30,
                                --------------------------
                                FY10                    Adjusted
                               Hedge        Total          FXN     FXN
                               Loss          FX          Change  Growth
                               ----         ---          ------  ------

    REVENUES                      $43        $136           $143    2.6%

    Diluted Earnings per Share
    from Continuing Operations  $0.11       $0.23          $0.30    8.1%
    FXN = Foreign Currency Neutral
    All figures rounded. Totals may not add due to rounding.

    BECTON DICKINSON AND COMPANY
    SUPPLEMENTAL INFORMATION
    FY2010 Total Year Reconciliation
      Reported Diluted Earnings per Share
      from Continuing Operations                            $4.90

      Tax (1)                                                0.04

      Adjusted Diluted Earnings per Share
      from Continuing Operations                            $4.94
                                                            =====

    (1) Represents a non-cash charge related to
     healthcare reform
        impacting Medicare Part D reimbursements.

Contact:
Monique N. Dolecki, Investor Relations – 201-847-5453
Colleen T. White, Corporate Communications – 201-847-5369

SOURCE BD (Becton, Dickinson and Company)


Source: newswire



comments powered by Disqus