BD Announces Results for Third Quarter Fiscal 2010

- Reports earnings per share from continuing operations of $1.29, in line with the Company’s expectations;

- Expects full fiscal year 2010 earnings per share from continuing operations, excluding specified items, to increase 3 to 4 percent, or about 9 percent on a foreign currency-neutral basis, which is in line with previously communicated guidance of 8 to 10 percent. On a reported basis, earnings per share from continuing operations are expected to increase about 3 percent.

- Previously announced agreement to sell certain assets of the BD Medical segment remains on track to close in the fourth quarter fiscal 2010; results were not classified as discontinued operations for third quarter fiscal 2010.

FRANKLIN LAKES, N.J., July 29 /PRNewswire-FirstCall/ -- BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, today reported quarterly revenues of $1.878 billion for the third fiscal quarter ended June 30, 2010, representing an increase of 3.2 percent from the prior-year period, or 3.9 percent on a foreign currency-neutral basis.  

“We are pleased with our results this quarter, with each of our three segments contributing to our growth. We delivered earnings per share from continuing operations of $1.29, which is in line with the Company’s expectations,” said Edward J. Ludwig, Chairman and Chief Executive Officer. "Despite the challenging global economy, we expect to deliver bottom-line growth of approximately 9 percent foreign-currency neutral, which is in line with our previously communicated range of 8 to 10 percent for the full fiscal year 2010. Profits and cash flows continue to improve as a result of operational efficiencies. We are also pleased to announce that we are increasing our share repurchases to $700 million from $550 million, which supports our ongoing commitment to return value to shareholders."  

Update on the Sale of Certain Assets in the BD Medical Segment

In May 2010, the Company signed agreements to sell certain assets of its BD Medical segment, including the Ophthalmic Systems unit as well as the surgical blades, critical care and extended dwell catheter product platforms of the Medical Surgical Systems unit. For the full fiscal year 2010, revenues and earnings per share associated with these asset groups were estimated at $200 million and $0.20, respectively.  The results of operations associated with these asset groups have not been classified as discontinued operations in the accompanying financial tables as the criteria for such classification were not met in the third fiscal quarter 2010. The Company expects to record a gain on the sale in the fourth fiscal quarter 2010, when the transaction is expected to be completed.

Third Quarter and Nine-Month Fiscal Year 2010 Operating Results

Reported diluted earnings per share from continuing operations for the third quarter were $1.29, compared with $1.38 in the prior-year period, representing a 6.5 percent decrease. The prior-year period included a $20 million, or $0.08 per share, tax benefit related to various tax settlements in multiple jurisdictions. Excluding this item, adjusted diluted earnings per share from continuing operations were $1.30. On a foreign currency-neutral basis, adjusted diluted earnings per share from continuing operations for the third quarter increased by 6.9 percent.  

For the nine-month period ending June 30, 2010, reported diluted earnings per share from continuing operations were $3.81, compared with $3.67 in the prior-year period, representing an increase of 3.8 percent. Current year-to-date results include a non-cash charge of $8.9 million, or $0.04 per share from continuing operations related to healthcare reform impacting Medicare Part D reimbursements, and the prior-year period included the aforementioned tax benefit of $0.08 and a litigation charge of $45 million, or $0.11 per share. Excluding these items, adjusted diluted earnings per share from continuing operations increased by 4.1 percent to $3.85, compared with $3.70 adjusted earnings per share in the prior-year period. On a foreign currency-neutral basis, adjusted diluted earnings per share from continuing operations for the nine-month period increased 11.4 percent.

Segment Results

In the BD Medical segment, worldwide revenues for the quarter were $993 million, representing an increase of 2.5 percent compared with the prior-year period, or 2.7 percent on a foreign currency-neutral basis. Revenues reflected solid sales of Diabetes Care products, which were partially offset by softer Pharmaceutical Systems revenues due to timing of orders in the quarter. The comparison to prior year is also negatively impacted by about 1 percentage point due to the  H1N1 flu pandemic in fiscal year 2009.  For the nine-month period ended June 30, 2010, BD Medical revenues increased 9.3 percent, or 7.6 percent on a foreign currency-neutral basis.

In the BD Diagnostics segment, worldwide revenues for the quarter were $576 million, representing an increase of 1.7 percent compared with the prior-year period, or 2.0 percent on a foreign currency-neutral basis. Economic pressures in the U.S., resulting in reduced physician office visits, and reduced diagnostic volumes in Europe were the primary headwinds in the quarter.  The comparison to prior year is also negatively impacted by 1.6 percentage points due to the H1N1 flu pandemic in fiscal year 2009.  For the nine-month period ended June 30, 2010, BD Diagnostics revenues increased 4.9 percent, or 4.3 percent on a foreign currency-neutral basis.

In the BD Biosciences segment, worldwide revenues for the quarter were $309 million, representing an increase of 8.4 percent compared with the prior-year period. Revenues increased 11.6 percent on a foreign currency-neutral basis, primarily driven by cell analysis instrument and reagent sales in the U.S., supplemental funding in Japan, and a favorable comparison versus the prior-year period. For the nine-month period ended June 30, 2010, BD Biosciences revenues increased 4.7 percent, or 7.3 percent on a foreign currency-neutral basis.

Geographic Results

Third quarter revenues in the U.S. were $830 million, representing an increase of 3.0 percent from the prior-year period. Revenues outside of the U.S. were $1.049 billion, representing an increase of 3.3 percent compared with the prior-year period, or 4.6 percent on a foreign currency-neutral basis. Revenues reflected continuing strength in emerging markets, which was offset by slower growth in Europe. For the nine-month period ended June 30, 2010, revenues in the U.S. were $2.513 billion, representing an increase of 6.3 percent compared with the prior-year period.  Revenues outside of the U.S. were $3.127 billion, representing an increase of 7.9 percent compared with the prior-year period, or 6.7 percent on a foreign currency-neutral basis.

Fiscal 2010 Outlook

We expect reported revenues for the full year fiscal 2010 to increase approximately 5 percent, which is one percentage point less than previously communicated guidance, mainly driven by a weaker Euro and overall lower lab testing in the U.S.  On a foreign currency-neutral basis, we expect revenues to increase 5 to 6 percent, as compared to our previously communicated guidance of about 6 percent, reflecting the lower lab testing and hospital demand.

We also expect reported diluted earnings per share from continuing operations for the full year fiscal 2010 to increase about 3 percent from $4.92 in fiscal year 2009. Excluding the aforementioned charge of $0.04 related to healthcare reform impacting Medicare Part D reimbursements, we expect diluted earnings per share from continuing operations for the full year fiscal 2010 will increase 3 to 4 percent, or about 9 percent on a foreign currency-neutral basis, which is in line with our previously communicated guidance. This is compared with adjusted diluted earnings per share from continuing operations, excluding the litigation charge of $0.11 and the tax benefit adjustment of $0.08, of $4.95 for fiscal year 2009.

Conference Call Information

A conference call regarding BD’s third quarter results and its expectations for the full fiscal year will be broadcast live on BD’s website, www.bd.com/investors, along with related slides, at 10:00 a.m. (ET) Thursday, July 29, 2010.  The conference call will be available for replay on BD’s website, www.bd.com/investors, or at 1-800-642-1687 (domestic) and 1-706-645-9291 (international) through the close of business on Thursday, August 5, 2010, access code 85449987.

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 and the Form 8-K that BD filed today with the SEC.

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 2010 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.  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 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 our 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 downturn on our ability to access credit markets and finance our operations, the demand for our products and services, or our suppliers’ ability to provide products needed for our 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; 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; our ability to successfully integrate any businesses we acquire; 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.


Contact:

Sherry L. Bertner, Investor Relations – 201-847-5453

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






BECTON DICKINSON AND COMPANY

CONSOLIDATED INCOME STATEMENTS

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



                                           Three Months Ended June 30,

                                             2010         2009       % Change



REVENUES                                   $ 1,878,229  $ 1,820,255  3.2



Cost of products sold                        905,822      860,063    5.3

Selling and administrative                   423,684      429,940    (1.5)

Research and development                     108,623      98,489     10.3

TOTAL OPERATING COSTS

AND EXPENSES                                 1,438,129    1,388,492  3.6



OPERATING INCOME                             440,100      431,763    1.9



Interest income                              2,094        12,767     (83.6)

Interest expense                             (13,085)     (11,288)   15.9

Other income (expense), net                  1,348        (4,247)    NM



INCOME FROM CONTINUING OPERATIONS BEFORE

INCOME TAXES                                 430,457      428,995    0.3



Income tax provision                         124,174      90,291     37.5



INCOME FROM CONTINUING OPERATIONS            306,283      338,704    (9.6)



INCOME FROM DISCONTINUED OPERATIONS

NET OF INCOME TAX (BENEFIT) PROVISION OF $
(619) AND $214, RESPECTIVELY                 625          2,323      (73.1)



NET INCOME                                 $ 306,908    $ 341,027    (10.0)



EARNINGS PER SHARE



Basic:

Income from continuing operations          $ 1.31       $ 1.41       (7.1)

Income from discontinued operations        $ 0.00       $ 0.01       NM

Net income (1)                             $ 1.32       $ 1.42       (7.0)



Diluted:

Income from continuing operations          $ 1.29       $ 1.38       (6.5)

Income from discontinued operations        $ 0.00       $ 0.01       NM

Net income                                 $ 1.29       $ 1.39       (7.2)





AVERAGE SHARES OUTSTANDING



Basic                                        233,242      240,109

Diluted                                      238,319      245,696



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,

                                        2010            2009        % Change



REVENUES                              $ 5,639,857     $ 5,263,141   7.2



Cost of products sold                   2,712,259       2,485,687   9.1

Selling and administrative              1,300,958       1,272,318   2.3

Research and development                310,025         294,391     5.3

TOTAL OPERATING COSTS

AND EXPENSES                            4,323,242       4,052,396   6.7



OPERATING INCOME                        1,316,615       1,210,745   8.7



Interest income                         20,535          18,730      9.6

Interest expense                        (38,985)        (26,607)    46.5

Other expense, net                      (843)           (538)       56.7



INCOME FROM CONTINUING OPERATIONS
BEFORE

INCOME TAXES                            1,297,322       1,202,330   7.9



Income tax provision                    377,336         295,033     27.9



INCOME FROM CONTINUING OPERATIONS       919,986         907,297     1.4



INCOME FROM DISCONTINUED OPERATIONS

NET OF INCOME TAX (BENEFIT) PROVISION
OF

$(519) AND $1,681, RESPECTIVELY         929             7,086       (86.9)



NET INCOME                            $ 920,915       $ 914,383     0.7



EARNINGS PER SHARE



Basic:

Income from continuing operations     $ 3.91          $ 3.77        3.7

Income from discontinued operations   $ 0.00          $ 0.03        NM

Net income                            $ 3.91          $ 3.80        2.9



Diluted:

Income from continuing operations     $ 3.81          $ 3.67        3.8

Income from discontinued operations   $ 0.00          $ 0.03        NM

Net income (1)                        $ 3.82          $ 3.70        3.2





AVERAGE SHARES OUTSTANDING



Basic                                   235,316         240,923

Diluted                                 241,151         247,083



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 June 30,

                 2010         2009        % Change



BD MEDICAL

United States  $ 401,965    $ 397,898     1.0

International    590,875      570,773     3.5

TOTAL          $ 992,840    $ 968,671     2.5



BD DIAGNOSTICS

United States  $ 303,521    $ 299,374     1.4

International    272,748      267,005     2.2

TOTAL          $ 576,269    $ 566,379     1.7



BD BIOSCIENCES

United States  $ 124,146    $ 108,136     14.8

International    184,974      177,069     4.5

TOTAL          $ 309,120    $ 285,205     8.4



TOTAL REVENUES

United States  $ 829,632    $ 805,408     3.0

International    1,048,597    1,014,847   3.3

TOTAL          $ 1,878,229  $ 1,820,255   3.2





                                          Page 3






BECTON DICKINSON AND COMPANY

SUPPLEMENTAL REVENUE INFORMATION

REVENUES BY SEGMENT AND GEOGRAPHIC AREA

(Unaudited; Amounts in thousands)



               Nine Months Ended June 30,

                 2010         2009        % Change



BD MEDICAL

United States  $ 1,254,592  $ 1,167,062   7.5

International    1,723,954    1,558,285   10.6

TOTAL          $ 2,978,546  $ 2,725,347   9.3



BD DIAGNOSTICS

United States  $ 906,566    $ 872,055     4.0

International    820,849      774,156     6.0

TOTAL          $ 1,727,415  $ 1,646,211   4.9



BD BIOSCIENCES

United States  $ 351,933    $ 325,926     8.0

International    581,963      565,657     2.9

TOTAL          $ 933,896    $ 891,583     4.7



TOTAL REVENUES

United States  $ 2,513,091  $ 2,365,043   6.3

International    3,126,766    2,898,098   7.9

TOTAL          $ 5,639,857  $ 5,263,141   7.2



                                          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

                           2010       2009      % Change



BD MEDICAL

Medical Surgical Systems $ 252,438  $ 256,171   (1.5)

Diabetes Care              96,071     91,330    5.2

Pharmaceutical Systems     45,824     43,460    5.4

Ophthalmic Systems         7,632      6,937     10.0

TOTAL                    $ 401,965  $ 397,898   1.0



BD DIAGNOSTICS

Preanalytical Systems    $ 159,228  $ 155,760   2.2

Diagnostic Systems         144,293    143,614   0.5

TOTAL                    $ 303,521  $ 299,374   1.4



BD BIOSCIENCES

Cell Analysis            $ 84,365   $ 70,518    19.6

Discovery Labware          39,781     37,618    5.7

TOTAL                    $ 124,146  $ 108,136   14.8



TOTAL UNITED STATES      $ 829,632  $ 805,408   3.0



                                                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

                           2010         2009        Reported  FXN    FX Impact



BD MEDICAL

Medical Surgical Systems $ 267,461    $ 242,701     10.2      7.4    2.8

Diabetes Care              101,081      94,521      6.9       7.2    (0.3)

Pharmaceutical Systems     208,993      220,503     (5.2)     (1.6)  (3.6)

Ophthalmic Systems         13,340       13,048      2.2       7.1    (4.9)

TOTAL                    $ 590,875    $ 570,773     3.5       3.9    (0.4)



BD DIAGNOSTICS

Preanalytical Systems    $ 144,298    $ 136,427     5.8       5.9    (0.1)

Diagnostic Systems         128,450      130,578     (1.6)     (0.5)  (1.1)

TOTAL                    $ 272,748    $ 267,005     2.2       2.7    (0.5)



BD BIOSCIENCES

Cell Analysis            $ 146,068    $ 139,251     4.9       10.5   (5.6)

Discovery Labware          38,906       37,818      2.9       6.8    (3.9)

TOTAL                    $ 184,974    $ 177,069     4.5       9.7    (5.2)



TOTAL INTERNATIONAL      $ 1,048,597  $ 1,014,847   3.3       4.6    (1.3)



                                                                     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

                           2010         2009        Reported  FXN    FX Impact



BD MEDICAL

Medical Surgical Systems $ 519,899    $ 498,872     4.2       2.8    1.4

Diabetes Care              197,152      185,851     6.1       6.2    (0.1)

Pharmaceutical Systems     254,817      263,963     (3.5)     (0.4)  (3.1)

Ophthalmic Systems         20,972       19,985      4.9       8.1    (3.2)

TOTAL                    $ 992,840    $ 968,671     2.5       2.7    (0.2)



BD DIAGNOSTICS

Preanalytical Systems    $ 303,526    $ 292,187     3.9       3.9    -

Diagnostic Systems         272,743      274,192     (0.5)     -      (0.5)

TOTAL                    $ 576,269    $ 566,379     1.7       2.0    (0.3)



BD BIOSCIENCES

Cell Analysis            $ 230,433    $ 209,769     9.9       13.6   (3.7)

Discovery Labware          78,687       75,436      4.3       6.3    (2.0)

TOTAL                    $ 309,120    $ 285,205     8.4       11.6   (3.2)



TOTAL REVENUES           $ 1,878,229  $ 1,820,255   3.2       3.9    (0.7)







                                                                     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

                           2010         2009        % Change



BD MEDICAL

Medical Surgical Systems $ 787,574    $ 754,776     4.3

Diabetes Care              285,150      263,028     8.4

Pharmaceutical Systems     159,923      129,177     23.8

Ophthalmic Systems         21,945       20,081      9.3

TOTAL                    $ 1,254,592  $ 1,167,062   7.5



BD DIAGNOSTICS

Preanalytical Systems    $ 465,395    $ 452,426     2.9

Diagnostic Systems         441,171      419,629     5.1

TOTAL                    $ 906,566    $ 872,055     4.0



BD BIOSCIENCES

Cell Analysis            $ 240,152    $ 219,668     9.3

Discovery Labware          111,781      106,258     5.2

TOTAL                    $ 351,933    $ 325,926     8.0



TOTAL UNITED STATES      $ 2,513,091  $ 2,365,043   6.3



                                                    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

                      2010         2009        Reported  FX Neutral  FX Impact



BD MEDICAL

Medical Surgical
Systems             $ 798,440    $ 697,178     14.5      9.7         4.8

Diabetes Care         301,508      271,221     11.2      8.1         3.1

Pharmaceutical
Systems               583,251      550,718     5.9       5.0         0.9

Ophthalmic Systems    40,755       39,168      4.1       5.3         (1.2)

TOTAL               $ 1,723,954  $ 1,558,285   10.6      7.6         3.0



BD DIAGNOSTICS

Preanalytical
Systems             $ 425,967    $ 396,380     7.5       5.3         2.2

Diagnostic Systems    394,882      377,776     4.5       3.9         0.6

TOTAL               $ 820,849    $ 774,156     6.0       4.6         1.4



BD BIOSCIENCES

Cell Analysis       $ 464,091    $ 450,615     3.0       7.1         (4.1)

Discovery Labware     117,872      115,042     2.5       5.8         (3.3)

TOTAL               $ 581,963    $ 565,657     2.9       6.8         (3.9)



TOTAL INTERNATIONAL $ 3,126,766  $ 2,898,098   7.9       6.7         1.2



                                                                     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

                     2010         2009        Reported  FX Neutral  FX Impact



BD MEDICAL

Medical Surgical
Systems            $ 1,586,014  $ 1,451,954   9.2       6.9         2.3

Diabetes Care        586,658      534,249     9.8       8.2         1.6

Pharmaceutical
Systems              743,174      679,895     9.3       8.5         0.8

Ophthalmic Systems   62,700       59,249      5.8       6.6         (0.8)

TOTAL              $ 2,978,546  $ 2,725,347   9.3       7.6         1.7



BD DIAGNOSTICS

Preanalytical
Systems            $ 891,362    $ 848,806     5.0       4.0         1.0

Diagnostic Systems   836,053      797,405     4.8       4.5         0.3

TOTAL              $ 1,727,415  $ 1,646,211   4.9       4.3         0.6



BD BIOSCIENCES

Cell Analysis      $ 704,243    $ 670,283     5.1       7.8         (2.7)

Discovery Labware    229,653      221,300     3.8       5.5         (1.7)

TOTAL              $ 933,896    $ 891,583     4.7       7.3         (2.6)



TOTAL REVENUES     $ 5,639,857  $ 5,263,141   7.2       6.5         0.7



                                                                    Page 10






BECTON DICKINSON AND COMPANY

SUPPLEMENTAL REVENUE INFORMATION

SAFETY REVENUES

(Unaudited; Amounts in thousands)





                      Three Months Ended June 30,

                                                 % Change

                        2010         2009        Reported  FXN  FX Impact



TOTAL SAFETY REVENUES

United States         $ 277,005    $ 272,719     1.6       1.6  -

International           158,764      148,970     6.6       6.5  0.1

TOTAL                 $ 435,769    $ 421,689     3.3       3.3  -



BY SEGMENT

BD Medical            $ 202,714    $ 198,642     2.0       1.8  0.2

BD Diagnostics          233,055      223,047     4.5       4.7  (0.2)

TOTAL                 $ 435,769    $ 421,689     3.3       3.3  -





                      Nine Months Ended June 30,

                                                 % Change

                        2010         2009        Reported  FXN  FX Impact



TOTAL SAFETY REVENUES

United States         $ 844,036    $ 796,714     5.9       5.9  -

International           464,254      419,768     10.6      7.9  2.7

TOTAL                 $ 1,308,290  $ 1,216,482   7.5       6.6  0.9



BY SEGMENT

BD Medical            $ 631,572    $ 574,984     9.8       8.7  1.1

BD Diagnostics          676,718      641,498     5.5       4.7  0.8

TOTAL                 $ 1,308,290  $ 1,216,482   7.5       6.6  0.9





                                                                Page 11





SOURCE BD (Becton, Dickinson and Company)