0001193125-12-198171.txt : 20120501 0001193125-12-198171.hdr.sgml : 20120501 20120501061542 ACCESSION NUMBER: 0001193125-12-198171 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20120501 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20120501 DATE AS OF CHANGE: 20120501 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: 12797774 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 d337686d8k.htm FORM 8-K Form 8-K

 

 

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) May 1, 2012

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):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ 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 May 1, 2012, Becton, Dickinson and Company (“BD”) issued a press release announcing its financial results for its second fiscal quarter ending March 31, 2012. 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 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 the percentage growth or decrease in earnings per share from continuing operations for the second quarter and first six months of fiscal year 2012 compared to the prior year periods 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 prior periods.

 

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 May 1, 2012, 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: May 1, 2012

Exhibit Index

 

99.1      Press release dated May 1, 2012, which is furnished pursuant to Item 2.02
 EX-99.1 2 d337686dex991.htm PRESS RELEASE Press release

Exhibit 99.1

1 Becton Drive

Franklin Lakes, NJ 07417

www.bd.com

News Release

 

LOGO

Contact:

Monique N. Dolecki, Investor Relations – 201-847-5453

Colleen T. White, Corporate Communications – 201-847-5369

BD ANNOUNCES RESULTS FOR 2012 SECOND FISCAL QUARTER

Franklin Lakes, NJ (May 1, 2012) – BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, today reported quarterly revenues of $1.991 billion for the second fiscal quarter ended March 31, 2012, representing an increase of 3.6 percent from the prior-year period, or 4.6 percent on a foreign currency-neutral basis.

“We are very pleased with our second quarter results. We posted solid revenue growth led by our BD Medical and BD Diagnostics segments, despite continuing challenges in the U.S. in our BD Biosciences segment,” said Vincent A. Forlenza, Chief Executive Officer and President. “We remain committed to our strategy of investing and innovating for growth, both organically and through acquisitions such as KIESTRA Lab Automation.”

Agreement to Sell Discovery Labware Unit, Excluding Advanced Bioprocessing

In April 2012, the Company signed a definitive agreement to sell its BD Biosciences - Discovery Labware unit, excluding its Advanced Bioprocessing platform. The transaction is expected to be completed by the end of calendar year 2012, subject to the satisfaction of customary closing conditions, including consultations and regulatory approvals. For the full fiscal year 2012, revenues and earnings per share associated with this asset group are estimated at $235 million and $0.23 to $0.27, respectively. The Company expects to record a gain on the sale at the time the transaction is completed.

Second Quarter and Six-Month Fiscal 2012 Operating Results

As expected, reported diluted earnings per share from continuing operations for the second quarter were $1.38, or flat compared with the prior-year period. On a foreign currency-neutral basis, diluted earnings per share from continuing operations for the second quarter increased by 2.9 percent.

For the six-month period ending March 31, 2012, reported diluted earnings per share from continuing operations were $2.59, compared with $2.72 in the prior-year period. This represents a decrease of 4.8 percent, or 3.3 percent on a currency-neutral basis.

Segment Results

In the BD Medical segment, worldwide revenues for the quarter were $1.021 billion, representing an increase of 4.1 percent compared with the prior-year period, or 5.3 percent on a currency-neutral basis. The segment’s revenue growth reflected strong sales in the Pharmaceutical Systems and Diabetes Care

units and solid sales in the Medical Surgical Systems unit. For the six-month period ended March 31, 2012, BD Medical revenues increased 3.3 percent, or 4.0 percent on a currency-neutral basis.

In the BD Diagnostics segment, worldwide revenues for the quarter were $630 million, representing an increase of 4.1 percent compared with the prior-year period, or 5.0 percent on a foreign currency-neutral basis. The segment’s growth was primarily driven by strong sales in the Preanalytical Systems unit and solid growth in Women’s Health and Cancer. For the six-month period ended March 31, 2012, BD Diagnostics revenues increased 3.6 percent, or 4.1 percent on a currency-neutral basis.

In the BD Biosciences segment, worldwide revenues for the quarter were $340 million, representing an increase of 1.3 percent compared with the prior-year period, or 1.7 percent on a foreign currency-neutral basis. Segment growth was primarily driven by clinical reagent sales in the Cell Analysis unit and strong emerging market sales as overall segment growth continues to be negatively affected by weakness in the U.S. research market. For the six-month period ended March 31, 2012, BD Biosciences revenues increased 1.1 percent, or 1.0 percent on a currency-neutral basis.

Geographic Results

Second quarter revenues in the U.S. were $848 million, representing an increase of 2.2 percent compared with the prior-year period. Revenues outside of the U.S. were $1.143 billion, representing an increase of 4.6 percent compared with the prior-year period, or an increase of 6.3 percent on a foreign currency-neutral basis. International revenues reflected continued strength in emerging markets and strong sales of safety-engineered products. For the six-month period ended March 31, 2012, revenues in the U.S. were $1.676 billion, representing an increase of 1.1 percent compared with

the prior-year period. Revenues outside of the U.S. were $2.202 billion, representing an increase of 4.5 percent when compared with the prior-year period, or 5.4 percent on a foreign currency-neutral basis.

Fiscal 2012 Outlook for Full Year

The Company is raising its previous guidance for reported revenue growth for the full fiscal year 2012 from about flat to be between 1 to 2 percent. This reflects the anticipated effects of favorable currency translation. On a currency-neutral basis, the Company is raising the lower end of its previous revenue growth guidance of 2 to 4 percent, to 3 to 4 percent. The Company is raising reported diluted earnings per share from continuing operations for fiscal year 2012 from $5.60 to $5.70 to be between $5.68 and $5.73, and plans to repurchase, subject to market conditions, $1.5 billion of its common stock in fiscal year 2012.

Conference Call Information

A conference call regarding BD’s second quarter results and its expectations for the full fiscal year 2012 will be broadcast live on BD’s website, www.bd.com/investors, along with related slides, at 8:00 a.m. (ET) Tuesday, May 1, 2012. The conference call will be available for replay on BD’s website, www.bd.com/investors, or at 1-800-585-8367 (domestic) and 1-404-537-3406 (international) through the close of business on Tuesday, May 8, 2012, access code 68128968.

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 2012 Outlook for Full Year”, 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. 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: adverse changes in regional, national or foreign economic conditions, including any impact that may result from the current global economic conditions on our ability to access credit markets and finance our operations, the demand for our products and services as a result of reduced government funding, lower utilization rates or otherwise, or our suppliers’ ability to provide products needed for our operations; the unknown consequences of 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 our products and increase downward pricing pressure; changes in interest or foreign currency exchange rates; competitive factors; pricing and other market pressures; our ability to successfully integrate any businesses we acquire; 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 our 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; and issuance of new or revised accounting standards, as well as other factors discussed in BD’s filings with the Securities and Exchange Commission. We do 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 March 31,  
     2012     2011     % Change  

REVENUES

    $ 1,990,818      $ 1,922,023        3.6   

Cost of products sold

      970,832        920,589        5.5   

Selling and administrative

      495,020        441,942        12.0   

Research and development

      118,528        119,152        (0.5 ) 
  

 

 

    

 

 

    

 

 

  

TOTAL OPERATING COSTS AND EXPENSES

      1,584,380        1,481,683        6.9   
  

 

 

    

 

 

    

 

 

  

OPERATING INCOME

      406,438        440,340        (7.7 ) 

Interest income

      16,678        14,564        14.5   

Interest expense

      (35,140 )      (23,921 )      46.9   

Other income (expense), net

      4,657        (2,522 )      NM   
  

 

 

    

 

 

    

 

 

  

INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES

      392,633        428,461        (8.4 ) 

Income tax provision

      102,085        117,399        (13.0 ) 
  

 

 

    

 

 

    

 

 

  

INCOME FROM CONTINUING OPERATIONS

      290,548        311,062        (6.6 ) 

INCOME FROM DISCONTINUED OPERATIONS NET OF INCOME TAX (BENEFIT) PROVISION OF $(140) AND $377, RESPECTIVELY

      485        957        (49.3 ) 
  

 

 

    

 

 

    

 

 

  

NET INCOME

    $ 291,033      $ 312,019        (6.7 ) 
  

 

 

    

 

 

    

 

 

  

EARNINGS PER SHARE

       

Basic:

       

Income from continuing operations

    $ 1.41      $ 1.41        —     

Income from discontinued operations

    $ —        $ —          —     

Net income

    $ 1.41      $ 1.41        —     

Diluted:

       

Income from continuing operations

    $ 1.38      $ 1.38        —     

Income from discontinued operations

    $ —        $ —          —     

Net income (1)

    $ 1.39      $ 1.38        0.7   

AVERAGE SHARES OUTSTANDING

       

Basic

      206,426        220,894     

Diluted

      209,803        225,467     

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)

 

     Six Months Ended March 31,  
     2012     2011     % Change  

REVENUES

    $ 3,878,464      $ 3,764,028        3.0   

Cost of products sold

      1,897,015        1,786,020        6.2   

Selling and administrative

      983,978        889,897        10.6   

Research and development

      232,464        234,693        (0.9 ) 
  

 

 

    

 

 

    

 

 

  

TOTAL OPERATING COSTS AND EXPENSES

      3,113,457        2,910,610        7.0   
  

 

 

    

 

 

    

 

 

  

OPERATING INCOME

      765,007        853,418        (10.4 ) 

Interest income

      32,126        29,786        7.9   

Interest expense

      (64,518 )      (39,474 )      63.4   

Other income (expense), net

      4,272        (7,118 )      NM   
  

 

 

    

 

 

    

 

 

  

INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES

      736,887        836,612        (11.9 ) 

Income tax provision

      183,328        211,273        (13.2 ) 
  

 

 

    

 

 

    

 

 

  

INCOME FROM CONTINUING OPERATIONS

      553,559        625,339        (11.5 ) 

INCOME FROM DISCONTINUED OPERATIONS NET OF INCOME TAX (BENEFIT) PROVISION OF $(159) AND $601, RESPECTIVELY

      460        2,617        (82.4 ) 
  

 

 

    

 

 

    

 

 

  

NET INCOME

    $ 554,019      $ 627,956        (11.8 ) 
  

 

 

    

 

 

    

 

 

  

EARNINGS PER SHARE

       

Basic:

       

Income from continuing operations

    $ 2.63      $ 2.79        (5.7 ) 

Income from discontinued operations

    $ —        $ 0.01        NM   

Net income

    $ 2.63      $ 2.80        (6.1 ) 

Diluted:

       

Income from continuing operations

    $ 2.59      $ 2.72        (4.8 ) 

Income from discontinued operations

    $ —        $ 0.01        NM   

Net income (1)

    $ 2.59      $ 2.74        (5.5 ) 

AVERAGE SHARES OUTSTANDING

       

Basic

      210,385        224,528     

Diluted

      213,970        229,529     

NM - Not Meaningful

(1) Total per share amounts may not add due to rounding.

 

Page 2

BECTON DICKINSON AND COMPANY

SUPPLEMENTAL REVENUE INFORMATION

REVENUES BY SEGMENT AND GEOGRAPHIC AREA

(Unaudited; Amounts in thousands)

 

     Three Months Ended March 31,  
     2012      2011      % Change  

BD MEDICAL

         

United States

    $ 418,521       $ 398,487         5.0   

International

      602,666         582,845         3.4   
  

 

 

     

 

 

     

 

 

  

TOTAL

    $ 1,021,187       $ 981,332         4.1   
  

 

 

     

 

 

     

 

 

  

BD DIAGNOSTICS

         

United States

    $ 318,597       $ 310,617         2.6   

International

      311,422         294,730         5.7   
  

 

 

     

 

 

     

 

 

  

TOTAL

    $ 630,019       $ 605,347         4.1   
  

 

 

     

 

 

     

 

 

  

BD BIOSCIENCES

         

United States

    $ 110,502       $ 120,077         (8.0 ) 

International

      229,110         215,267         6.4   
  

 

 

     

 

 

     

 

 

  

TOTAL

    $ 339,612       $ 335,344         1.3   
  

 

 

     

 

 

     

 

 

  

TOTAL REVENUES

         

United States

    $ 847,620       $ 829,181         2.2   

International

      1,143,198         1,092,842         4.6   
  

 

 

     

 

 

     

 

 

  

TOTAL

    $ 1,990,818       $ 1,922,023         3.6   
  

 

 

     

 

 

     

 

 

  

 

Page 3

BECTON DICKINSON AND COMPANY

SUPPLEMENTAL REVENUE INFORMATION

REVENUES BY SEGMENT AND GEOGRAPHIC AREA

(Unaudited; Amounts in thousands)

 

     Six Months Ended March 31,  
     2012      2011      % Change  

BD MEDICAL

         

United States

    $ 833,190       $ 804,014         3.6   

International

      1,138,394         1,103,863         3.1   
  

 

 

     

 

 

     

 

 

  

TOTAL

    $ 1,971,584       $ 1,907,877         3.3   
  

 

 

     

 

 

     

 

 

  

BD DIAGNOSTICS

         

United States

    $ 630,220       $ 619,467         1.7   

International

      620,542         587,603         5.6   
  

 

 

     

 

 

     

 

 

  

TOTAL

    $ 1,250,762       $ 1,207,070         3.6   
  

 

 

     

 

 

     

 

 

  

BD BIOSCIENCES

         

United States

    $ 213,003       $ 234,302         (9.1 ) 

International

      443,115         414,779         6.8   
  

 

 

     

 

 

     

 

 

  

TOTAL

    $ 656,118       $ 649,081         1.1   
  

 

 

     

 

 

     

 

 

  

TOTAL REVENUES

         

United States

    $ 1,676,413       $ 1,657,783         1.1   

International

      2,202,051         2,106,245         4.5   
  

 

 

     

 

 

     

 

 

  

TOTAL

    $ 3,878,464       $ 3,764,028         3.0   
  

 

 

     

 

 

     

 

 

  

 

Page 4

BECTON DICKINSON AND COMPANY

SUPPLEMENTAL REVENUE INFORMATION

REVENUES BY BUSINESS SEGMENTS AND UNITS

Three Months Ended March 31,

(Unaudited; Amounts in thousands)

 

     United States  
     2012      2011      % Change  

BD MEDICAL

         

Medical Surgical Systems

    $ 237,599       $ 234,571         1.3   

Diabetes Care

      105,725         95,939         10.2   

Pharmaceutical Systems

      75,197         67,977         10.6   
  

 

 

     

 

 

     

 

 

  

TOTAL

    $ 418,521       $ 398,487         5.0   
  

 

 

     

 

 

     

 

 

  

BD DIAGNOSTICS

         

Preanalytical Systems

    $ 163,455       $ 156,978         4.1   

Diagnostic Systems

      155,142         153,639         1.0   
  

 

 

     

 

 

     

 

 

  

TOTAL

    $ 318,597       $ 310,617         2.6   
  

 

 

     

 

 

     

 

 

  

BD BIOSCIENCES

         

Cell Analysis

    $ 78,841       $ 83,006         (5.0 ) 

Discovery Labware

      31,661         37,071         (14.6 ) 
  

 

 

     

 

 

     

 

 

  

TOTAL

    $ 110,502       $ 120,077         (8.0 ) 
  

 

 

     

 

 

     

 

 

  

TOTAL UNITED STATES

    $ 847,620       $ 829,181         2.2   
  

 

 

     

 

 

     

 

 

  

 

Page 5

BECTON DICKINSON AND COMPANY

SUPPLEMENTAL REVENUE INFORMATION

REVENUES BY BUSINESS SEGMENTS AND UNITS

Three Months Ended March 31, (continued)

(Unaudited; Amounts in thousands)

 

     International  
                   % Change  
     2012      2011      Reported      FXN      FX Impact  

BD MEDICAL

               

Medical Surgical Systems

    $ 281,340       $ 270,020         4.2         6.0         (1.8 ) 

Diabetes Care

      113,520         111,820         1.5         3.3         (1.8 ) 

Pharmaceutical Systems

      207,806         201,005         3.4         5.9         (2.5 ) 
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

TOTAL

    $ 602,666       $ 582,845         3.4         5.4         (2.0 ) 
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

BD DIAGNOSTICS

               

Preanalytical Systems

    $ 159,858       $ 149,261         7.1         9.6         (2.5 ) 

Diagnostic Systems

      151,564         145,469         4.2         5.5         (1.3 ) 
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

TOTAL

    $ 311,422       $ 294,730         5.7         7.6         (1.9 ) 
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

BD BIOSCIENCES

               

Cell Analysis

    $ 182,702       $ 172,510         5.9         6.6         (0.7 ) 

Discovery Labware

      46,408         42,757         8.5         8.7         (0.2 ) 
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

TOTAL

    $ 229,110       $ 215,267         6.4         7.0         (0.6 ) 
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

TOTAL INTERNATIONAL

    $ 1,143,198       $ 1,092,842         4.6         6.3         (1.7 ) 
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

 

Page 6

BECTON DICKINSON AND COMPANY

SUPPLEMENTAL REVENUE INFORMATION

REVENUES BY BUSINESS SEGMENTS AND UNITS

Three Months Ended March 31, (continued)

(Unaudited; Amounts in thousands)

 

     Total  
                   % Change  
     2012      2011      Reported     FXN     FX Impact  

BD MEDICAL

             

Medical Surgical Systems

    $ 518,939       $ 504,591         2.8        3.8        (1.0 ) 

Diabetes Care

      219,245         207,759         5.5        6.5        (1.0 ) 

Pharmaceutical Systems

      283,003         268,982         5.2        7.1        (1.9 ) 
  

 

 

     

 

 

     

 

 

    

 

 

    

 

 

  

TOTAL

    $ 1,021,187       $ 981,332         4.1        5.3        (1.2 ) 
  

 

 

     

 

 

     

 

 

    

 

 

    

 

 

  

BD DIAGNOSTICS

             

Preanalytical Systems

    $ 323,313       $ 306,239         5.6        6.8        (1.2 ) 

Diagnostic Systems

      306,706         299,108         2.5        3.2        (0.7 ) 
  

 

 

     

 

 

     

 

 

    

 

 

    

 

 

  

TOTAL

    $ 630,019       $ 605,347         4.1        5.0        (0.9 ) 
  

 

 

     

 

 

     

 

 

    

 

 

    

 

 

  

BD BIOSCIENCES

             

Cell Analysis

    $ 261,543       $ 255,516         2.4        2.8        (0.4 ) 

Discovery Labware

      78,069         79,828         (2.2 )      (2.1 )      (0.1 ) 
  

 

 

     

 

 

     

 

 

    

 

 

    

 

 

  

TOTAL

    $ 339,612       $ 335,344         1.3        1.7        (0.4 ) 
  

 

 

     

 

 

     

 

 

    

 

 

    

 

 

  

TOTAL REVENUES

    $ 1,990,818       $ 1,922,023         3.6        4.6        (1.0 ) 
  

 

 

     

 

 

     

 

 

    

 

 

    

 

 

  

 

Page 7

BECTON DICKINSON AND COMPANY

SUPPLEMENTAL REVENUE INFORMATION

REVENUES BY BUSINESS SEGMENTS AND UNITS

Six Months Ended March 31,

(Unaudited; Amounts in thousands)

 

     United States  
     2012      2011      % Change  

BD MEDICAL

         

Medical Surgical Systems

    $ 486,015       $ 488,825         (0.6 ) 

Diabetes Care

      211,251         195,524         8.0   

Pharmaceutical Systems

      135,924         119,665         13.6   
  

 

 

     

 

 

     

 

 

  

TOTAL

    $ 833,190       $ 804,014         3.6   
  

 

 

     

 

 

     

 

 

  

BD DIAGNOSTICS

         

Preanalytical Systems

    $ 325,570       $ 319,036         2.0   

Diagnostic Systems

      304,650         300,431         1.4   
  

 

 

     

 

 

     

 

 

  

TOTAL

    $ 630,220       $ 619,467         1.7   
  

 

 

     

 

 

     

 

 

  

BD BIOSCIENCES

         

Cell Analysis

    $ 152,634       $ 163,262         (6.5 ) 

Discovery Labware

      60,369         71,040         (15.0 ) 
  

 

 

     

 

 

     

 

 

  

TOTAL

    $ 213,003       $ 234,302         (9.1 ) 
  

 

 

     

 

 

     

 

 

  

TOTAL UNITED STATES

    $ 1,676,413       $ 1,657,783         1.1   
  

 

 

     

 

 

     

 

 

  

 

Page 8

BECTON DICKINSON AND COMPANY

SUPPLEMENTAL REVENUE INFORMATION

REVENUES BY BUSINESS SEGMENTS AND UNITS

Six Months Ended March 31, (continued)

(Unaudited; Amounts in thousands)

 

     International  
                   % Change  
     2012      2011      Reported      FXN      FX Impact  

BD MEDICAL

               

Medical Surgical Systems

    $ 555,234       $ 528,491         5.1         6.3         (1.2 ) 

Diabetes Care

      233,913         226,118         3.4         4.2         (0.8 ) 

Pharmaceutical Systems

      349,247         349,254         —           1.1         (1.1 ) 
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

TOTAL

    $ 1,138,394       $ 1,103,863         3.1         4.2         (1.1 ) 
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

BD DIAGNOSTICS

               

Preanalytical Systems

    $ 314,365       $ 299,832         4.8         6.5         (1.7 ) 

Diagnostic Systems

      306,177         287,771         6.4         6.8         (0.4 ) 
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

TOTAL

    $ 620,542       $ 587,603         5.6         6.7         (1.1 ) 
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

BD BIOSCIENCES

               

Cell Analysis

    $ 352,510       $ 332,997         5.9         5.9         —     

Discovery Labware

      90,605         81,782         10.8         9.9         0.9   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

TOTAL

    $ 443,115       $ 414,779         6.8         6.7         0.1   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

TOTAL INTERNATIONAL

    $ 2,202,051       $ 2,106,245         4.5         5.4         (0.9 ) 
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

 

Page 9

BECTON DICKINSON AND COMPANY

SUPPLEMENTAL REVENUE INFORMATION

REVENUES BY BUSINESS SEGMENTS AND UNITS

Six Months Ended March 31, (continued)

(Unaudited; Amounts in thousands)

 

     Total  
                   % Change  
     2012      2011      Reported     FXN     FX Impact  

BD MEDICAL

             

Medical Surgical Systems

    $ 1,041,249       $ 1,017,316         2.4        3.0        (0.6 ) 

Diabetes Care

      445,164         421,642         5.6        6.0        (0.4 ) 

Pharmaceutical Systems

      485,171         468,919         3.5        4.3        (0.8 ) 
  

 

 

     

 

 

     

 

 

    

 

 

    

 

 

  

TOTAL

    $ 1,971,584       $ 1,907,877         3.3        4.0        (0.7 ) 
  

 

 

     

 

 

     

 

 

    

 

 

    

 

 

  

BD DIAGNOSTICS

             

Preanalytical Systems

    $ 639,935       $ 618,868         3.4        4.2        (0.8 ) 

Diagnostic Systems

      610,827         588,202         3.8        4.1        (0.3 ) 
  

 

 

     

 

 

     

 

 

    

 

 

    

 

 

  

TOTAL

    $ 1,250,762       $ 1,207,070         3.6        4.1        (0.5 ) 
  

 

 

     

 

 

     

 

 

    

 

 

    

 

 

  

BD BIOSCIENCES

             

Cell Analysis

    $ 505,144       $ 496,259         1.8        1.8        —     

Discovery Labware

      150,974         152,822         (1.2 )      (1.7 )      0.5   
  

 

 

     

 

 

     

 

 

    

 

 

    

 

 

  

TOTAL

    $ 656,118       $ 649,081         1.1        1.0        0.1   
  

 

 

     

 

 

     

 

 

    

 

 

    

 

 

  

TOTAL REVENUES

    $ 3,878,464       $ 3,764,028         3.0        3.5        (0.5 ) 
  

 

 

     

 

 

     

 

 

    

 

 

    

 

 

  

 

Page 10

BECTON DICKINSON AND COMPANY

SUPPLEMENTAL REVENUE INFORMATION

SAFETY REVENUES

(Unaudited; Amounts in thousands)

 

     Three Months Ended March 31,  
                   % Change  
     2012      2011      Reported      FXN      FX Impact  

TOTAL SAFETY REVENUES

               

United States

    $ 282,733       $ 263,524         7.3         7.3         —     

International

      205,369         177,859         15.5         17.7         (2.2 ) 
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

TOTAL

    $ 488,102       $ 441,383         10.6         11.5         (0.9 ) 
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

BY SEGMENT

               

BD Medical

    $ 235,928       $ 204,866         15.2         15.6         (0.4 ) 

BD Diagnostics

      252,174         236,517         6.6         7.9         (1.3 ) 
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

TOTAL

    $ 488,102       $ 441,383         10.6         11.5         (0.9 ) 
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  
     Six Months Ended March 31,  
                   % Change  
     2012      2011      Reported      FXN      FX Impact  

TOTAL SAFETY REVENUES

               

United States

    $ 573,345       $ 547,306         4.8         4.8         —     

International

      402,326         347,113         15.9         17.2         (1.3 ) 
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

TOTAL

    $ 975,671       $ 894,419         9.1         9.6         (0.5 ) 
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

BY SEGMENT

               

BD Medical

    $ 475,711       $ 418,175         13.8         13.9         (0.1 ) 

BD Diagnostics

      499,960         476,244         5.0         5.9         (0.9 ) 
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

TOTAL

    $ 975,671       $ 894,419         9.1         9.6         (0.5 ) 
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

 

Page 11

BECTON DICKINSON AND COMPANY

SUPPLEMENTAL INFORMATION

Quarter-to-Date Fiscal 2012 Reconciliation - FX Impact

(Unaudited; Amounts in millions, except per share data)

 

     Three Months Ended March 31,  
     Reported      Reported      Reported
Growth		      Foreign
Currency		     FXN      FXN  
     FY2012      FY2011      $      Translation     Change      Growth  

REVENUES

    $ 1,991       $ 1,922       $ 69       $ (19 )    $ 88         4.6 % 

Diluted Earnings per Share from Continuing Operations

    $ 1.38       $ 1.38       $ 0.00       $ (0.04 )    $ 0.04         2.9 % 

All figures rounded. Totals may not add due to rounding.

FXN = Foreign Currency Neutral

 

Page 12

BECTON DICKINSON AND COMPANY

SUPPLEMENTAL INFORMATION

Year-to-Date Fiscal 2012 Reconciliation - FX Impact

(Unaudited; Amounts in millions, except per share data)

 

     Six Months Ended March 31,  
     Reported      Reported      Reported
Growth		     Foreign
Currency		     FXN     FXN  
     FY2012      FY2011      $     Translation     Change     Growth  

REVENUES

    $ 3,878       $ 3,764       $ 114      $ (18 )    $ 132        3.5 % 

Diluted Earnings per Share from Continuing Operations

    $ 2.59       $ 2.72       $ (0.13 )    $ (0.04 )    $ (0.09 )      -3.3 % 

All figures rounded. Totals may not add due to rounding.

FXN = Foreign Currency Neutral

 

Page 13

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