0000950123-11-071322.txt : 20110802 0000950123-11-071322.hdr.sgml : 20110802 20110802061606 ACCESSION NUMBER: 0000950123-11-071322 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20110802 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20110802 DATE AS OF CHANGE: 20110802 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BECTON DICKINSON & CO CENTRAL INDEX KEY: 0000010795 STANDARD INDUSTRIAL CLASSIFICATION: SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841] IRS NUMBER: 220760120 STATE OF INCORPORATION: NJ FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-04802 FILM NUMBER: 111001968 BUSINESS ADDRESS: STREET 1: ONE BECTON DR CITY: FRANKLIN LAKES STATE: NJ ZIP: 07417-1880 BUSINESS PHONE: 2018476800 MAIL ADDRESS: STREET 1: ONE BECTON DR CITY: FRANKLIN LAKE STATE: NJ ZIP: 07417 8-K 1 y92180e8vk.htm FORM 8-K e8vk
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO
SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) August 2, 2011
BECTON, DICKINSON AND COMPANY
 
(Exact Name of Registrant as Specified in Its Charter)
New Jersey
 
(State or Other Jurisdiction of Incorporation)
     
001-4802   22-0760120
 
(Commission File Number)   (IRS Employer Identification No.)
     
1 Becton Drive, Franklin Lakes, New Jersey   07417-1880
 
(Address of Principal Executive Offices)   (Zip Code)
(201) 847-6800
 
(Registrant’s Telephone Number, Including Area Code)
N/A
 
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K Filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o     Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230425)
o     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o     Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o     Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 

 

ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION
On August 2, 2011, Becton, Dickinson and Company (“BD”) issued a press release announcing its financial results for its third fiscal quarter ending June 30, 2011. A copy of the press release is furnished as Exhibit 99.1 to this report.
The press release furnished as Exhibit 99.1 contains certain financial measures that differ from those presented in accordance with U.S. generally accepted accounting principles (“non-GAAP measures”), as follows:
  •   Revenues. We present international and total revenue growth rates (for the total company and each of its business segments and units, and for our safety-engineered devices) after eliminating the effect of foreign currency translation, including gains or losses from our hedging activities. We believe that these measures of revenue growth allow investors to better understand the underlying operating results of BD and facilitate comparisons to prior periods.
 
  •   Earnings Per Share from Continuing Operations. We present our diluted earnings per share from continuing operations (“EPS”) for the first nine months of fiscal year 2010, and for the full fiscal year 2010, after eliminating the non-cash charge related to health care reform impacting Medicare Part D reimbursements. This item is not considered by management to be part of ordinary operations. Accordingly, we believe that these adjusted measures of EPS are more indicative of BD’s underlying performance for these periods, and allow investors to better assess our EPS guidance for fiscal year 2011. We also present our EPS growth for the third quarter and first nine months of fiscal year 2011 after eliminating the effect of foreign currency translation, including gains or losses from our hedging activities. We believe that eliminating the effect of foreign currency translation allows investors to better understand the underlying operating results of BD and facilitates comparisons to the prior year periods, and also allow investors to better understand BD’s EPS guidance.
BD’s management uses each of these non-GAAP measures in its own evaluation of BD’s performance, particularly when comparing performance to past periods. Management also uses the non-GAAP results for budget planning purposes on a quarterly and annual basis.
BD provides non-GAAP measures to investors on a supplemental basis, as they provide additional insight into BD’s financial results. Management believes the non-GAAP results provide a reasonable measure of BD’s underlying performance before the effects of items that are considered by management to be outside of BD’s underlying operational results or that affect period to period comparability.
Non-GAAP results should not be considered in isolation and are not in accordance with, or a substitute for, GAAP results. Our non-GAAP results may differ from similar measures used by other companies, even if similar terms are used to identify such measures. Although BD’s management believes non-GAAP results are useful in evaluating the performance of its business, its reliance on these measures is limited since items excluded from such measures may have a material impact on BD’s net income, earnings per share or cash flows calculated in accordance with GAAP. Therefore, management typically uses non-GAAP results in conjunction with GAAP results to address these limitations. Investors should also consider these limitations when evaluating BD’s results.

 

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
     
Exhibit 99.1
  Press release dated August 2, 2011, which is furnished pursuant to Item 2.02

 

 

SIGNATURES
     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
         
  BECTON, DICKINSON AND COMPANY
(Registrant)
 		  
  By:   /s/ Gary DeFazio    
    Gary DeFazio  
    Vice President and Corporate Secretary  
 
Date: August 2, 2011

 

 

Exhibit Index
     
99.1
  Press release dated August 2, 2011, which is furnished pursuant to Item 2.02

 

EX-99.1 2 y92180exv99w1.htm EX-99.1 exv99w1
1 Becton Drive
Franklin Lakes, NJ 07417
www.bd.com
Final
(BD LOGO)
Contact:
Monique N. Dolecki, Investor Relations — 201-847-5453
Colleen T. White, Corporate Communications — 201-847-5369
BD ANNOUNCES RESULTS FOR 2011 THIRD FISCAL QUARTER
Franklin Lakes, NJ (August 2, 2011) — 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.”

1

 

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

2

 

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

3

 

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.

4

 

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.
***

5

 

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.

6

 

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

Page 1

 

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

Page 2

 

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  
 

Page 3

 

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  
 

Page 4

 

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  
 

Page 5

 

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
    2011     2010     Reported     FXN     FX 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  
 

Page 6

 

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
    2011     2010     Reported     FXN     FX 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  
 

Page 7

 

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  
 

Page 8

 

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
    2011     2010     Reported     FXN     FX 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  
 

Page 9

 

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
    2011     2010     Reported     FXN     FX 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  
 

Page 10

 

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

Page 11

 

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.

Page 12

 

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     Reported     Reported Growth     Foreign Currency     FY10 Hedge     Total     FXN     FXN  
    FY 2011     FY 2010     $     Translation     Loss     FX     Change     Growth  
       
REVENUES
   $ 2,014     $ 1,831     $ 183     $ 94     $ 1     $ 96     $ 88       4.8 %
 
Diluted Earnings per Share from Continuing Operations
   $ 1.51     $ 1.23     $ 0.28     $ 0.11     $ 0.00     $ 0.11     $ 0.17       13.8 %
 
         All figures rounded. Totals may not add due to rounding.

         FXN = Foreign Currency Neutral

Page 13

 

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     FY10               Adjusted        
    Reported     Adjusted     Growth     Currency     Hedge       Total     FXN     FXN  
    FY 2011     FY 2010     $     Translation     Loss       FX     Change     Growth  
     
REVENUES
   $ 5,778     $ 5,499     $ 279     $ 94     $ 43     $ 136     $ 143       2.6 %
 
                                                                
Diluted Earnings per Share
                                                                
from Continuing Operations
   $ 4.23     $ 3.70     $ 0.53     $ 0.12     $ 0.11     $ 0.23     $ 0.30       8.1 %
 
                                                                
 
     All figures rounded. Totals may not add due to rounding.
     FXN = Foreign Currency Neutral

Page 14

 

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.

Page 15

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