1 Becton Drive
Franklin Lakes, NJ 07417
tel:201.847.4000
fax:201.847.6692
www.bd.com
News Release [BD LOGO]
Contact:
Dean J. Paranicas / Investor and Media Relations - 201-847-7102
Gavin A. Bell / Investor Relations - 201-847-5453
BD ANNOUNCES RECORD $1 BILLION SECOND QUARTER REVENUES
Franklin Lakes, NJ (April 24, 2002) - BD (Becton, Dickinson and Company) (NYSE:
BDX) today reported record quarterly revenues of $1.013 billion for the fiscal
second quarter ended March 31, 2002, an increase of 7 percent from the same
period a year ago. At constant foreign exchange rates, revenues increased 9
percent.
"Achieving quarterly revenues of over $1 billion for the first time in the
Company's history marks an important milestone for us. Our continuing revenue
growth is being led by safety-engineered products, prefillable drug delivery
devices and BD Biosciences products," said Edward J. Ludwig, Chairman, President
and Chief Executive Officer. "The results for the quarter reflect the Company's
ability to deliver revenue and earnings growth in line with the commitments we
have made to our shareholders."
Diluted earnings per share were 48 cents for the second quarter, or 50 cents
excluding the impact of a special charge of 2 cents per share for severance and
asset impairment costs associated with a previously-announced manufacturing
restructuring in the BD Medical Systems segment.
Q2 Segment Results
- ------------------
In the BD Medical Systems segment, worldwide revenues of $530 million increased
6 percent. Included in BD Medical Systems revenues were U.S. safety-engineered
product sales of $85 million, versus $58 million in the prior year's quarter.
Also contributing to the growth of the segment were sales of prefillable drug
delivery devices, which grew 15 percent. The overall growth rate in the segment
was offset in part by reduced sales of conventional devices in the U.S. due to
the transition to safety-engineered devices, and, as anticipated, by essentially
flat sales in the Consumer Health Care portion of the segment, due in part to
the effect of the redirection of promotional efforts in the U.S. toward branded
diabetes syringe sales at the retail level.
In the BD Clinical Laboratory Solutions segment, worldwide revenues increased 7
percent to $318 million. Revenue growth of 3 percent in the Preanalytical
Solutions portion of the segment was attributable primarily to U.S.
safety-engineered device sales, which were $50 million, versus $38 million in
the prior year's quarter. These results were partly offset by reduced sales of
conventional devices due, in large part, to the transition to safety-engineered
devices. The revenue growth rate of Preanalytical Solutions also was adversely
impacted by a voluntary recall of specific lots of the BD Vacutainer'TM'
Safety-Lok'TM' blood collection set product. Revenue growth for the year for
Preanalytical Solutions is not expected to be significantly impacted by this
recall.
BD Clinical Laboratory Solutions segment growth also reflected an increase of 10
percent in worldwide sales of the Diagnostic Systems portion of the segment.
This growth was due in part to increased sales of its molecular diagnostic
platform, BD ProbeTec ET'TM', and to strong sales of respiratory and flu
diagnostic tests compared to last year's quarter. In addition, U.S. Diagnostic
Systems sales benefited from an anticipated inventory stocking by distributors
in advance of the installation by Diagnostic Systems of a new enterprise
resource planning system.
In the BD Biosciences segment, worldwide revenues grew 7 percent to $165
million. Revenue growth was driven primarily by strong flow cytometry instrument
and immunology reagent revenues, and was offset in part by continued weaker
demand for certain molecular biology products, as well as by essentially flat
revenues in the U.S. Discovery Labware portion of the segment.
Q2 Geographic Results
- ---------------------
On a geographic basis, second quarter revenues in the U.S. increased 9 percent
to $551 million. Revenues outside the U.S. of $462 million grew 3 percent, which
were adversely affected by the Euro, Japanese Yen and Brazilian Real. At
constant foreign exchange rates, revenues outside the U.S. grew 9 percent.
Six-month Results
- -----------------
For the six-month period ended March 31, 2002, reported revenues were $1.958
billion, an 8 percent increase over a year ago, or 9 percent at constant foreign
exchange rates. Diluted earnings per share for the six-month period were 85
cents, or 87 cents excluding the special charge relating to the manufacturing
restructuring, and reflect an approximate 5 cent benefit from the adoption of
Statement of Financial Accounting Standards (SFAS) No. 142, "Goodwill and Other
Intangible Assets." For the same period in fiscal 2001, diluted earnings per
share were 70 cents, before the cumulative effect of an accounting change.
Restructuring and Divestitures
- ------------------------------
In connection with the manufacturing restructuring, the Company recorded a
special charge of $10 million, or 2 cents per share, in the second quarter, and
expects to record an additional special charge of approximately $12 million, or
4 cents per share, in the third quarter. Ongoing operating results will include
other manufacturing restructuring costs to be recorded to cost of products sold,
which the Company currently estimates to be one cent per share in each of the
third and fourth quarters.
As previously announced, on April 8, 2002 the Company entered into a non-binding
letter of intent with AorTech International plc ("AorTech") to sell the
Company's Critical Care product line for approximately $52 million.
Approximately one-half of the purchase price is expected to be paid over 30
months following the date of closing, and is subject to adjustments based on
future sales results. For the fiscal year ended September 30, 2001 and for the
six months ended March 31, 2002, the Critical Care product line generated sales
of approximately $47 million and $23 million. The Company estimates that fiscal
2002 diluted earnings per share would have been impacted by less than one cent,
excluding the estimated loss on potential sale discussed below, assuming this
divestiture had been completed as of October 1, 2001.
The transaction is subject to the execution of a definitive purchase agreement
and the approval of AorTech's Board of Directors and shareholders, as well as of
the Company's Board of Directors, all of which are expected to occur in the
second half of the Company's fiscal year. In connection with the occurrence of
these events, the Company expects to record a substantially non-cash loss on
sale, which it presently estimates could be in the range of $25 to $30 million,
or approximately 6 to 7 cents per share. The Company presently expects the
transaction to close prior to the end of fiscal 2002.
Additionally, the Company continues to consider the divestiture of certain
non-strategic product lines with combined revenues of less than $150 million,
however, it does not anticipate that a transaction will be concluded during
fiscal 2002.
Fiscal 2002 Outlook
- -------------------
The Company expects diluted earnings per share to be approximately $1.88 for
fiscal 2002 and approximately 48 cents for the third quarter and 53 cents for
the fourth quarter, excluding the special charges and loss on the potential sale
of the Critical Care product line. The following table analyzes the estimated
reported earnings per share for fiscal 2002:
------------------------------------------------------------
Reported Reported Estimated Estimated Estimated
Q1 Q2 Q3 Q4 FY02
- -------------------------------------------------------------------------------------------
Diluted EPS before $0.37 $0.50 $0.49 $0.54 $1.90
manufacturing restructuring
and loss on potential sale
of Critical Care product
line (A)
- -------------------------------------------------------------------------------------------
Manufacturing restructuring - - ($0.01) ($0.01) ($0.02)
costs (B)
- -------------------------------------------------------------------------------------------
Diluted EPS before special $0.37 $0.50 $0.48 $0.53 $1.88
charges and loss on
potential sale of Critical
Care product line
- -------------------------------------------------------------------------------------------
Special charges - ($0.02) ($0.04) - ($0.06)
- -------------------------------------------------------------------------------------------
Diluted EPS before loss on $0.37 $0.48 $0.44 $0.53 $1.82
potential sale of Critical (C) (C) (C)
Care product line
- -------------------------------------------------------------------------------------------
See footnotes on following page.
(A) These amounts include the previously announced favorable impact from the
elimination of goodwill amortization under SFAS No. 142 of approximately
$0.10 per share for the full year, or $0.025 per quarter.
(B) To be recorded to cost of products sold.
(C) Does not include estimated loss on potential sale of Critical Care product
line of approximately $0.06 to $0.07 expected to be recorded in either third
or fourth quarter.
BD is a medical technology company that serves healthcare institutions, life
science researchers, clinical laboratories, industry and the general public. BD
manufactures and sells a broad range of medical supplies, devices, laboratory
equipment and diagnostic products. For the fiscal year ended September 30, 2001,
BD reported total revenues of $3.8 billion.
***
This press release may contain certain forward-looking statements (as defined
under Federal securities laws) regarding the Company's performance, including
future revenues, products and income, or events or developments that the Company
expects to occur or anticipates occurring in the future. All such statements are
based upon current expectations of the Company 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.
Factors that could cause actual results to vary materially from any
forward-looking statement include, but are not limited to: competitive factors;
pricing and market share pressures; uncertainties of litigation; the Company's
ability to achieve sales and earnings forecasts, which are based on sales volume
and product mix assumptions, to achieve its cost savings objectives, and to
achieve anticipated synergies and other cost savings in connection with
acquisitions; changes in regional, national or foreign economic conditions;
increases in energy costs; fluctuations in costs and availability of raw
materials and in the Company's ability to maintain favorable supplier
arrangements and relationships; changes in interest or foreign currency exchange
rates; delays in product introductions; and changes in health care or other
governmental regulation, as well as other factors discussed in this press
release and in the Company's filings with the Securities and Exchange
Commission. We do not intend to update any forward-looking statements.
***
BD's news releases can be found on its website at www.bd.com or through Business
Wire at www.businesswire.com. A conference call with analysts regarding this
news release will be broadcast live on BD's website at 8:30 a.m. EDT Thursday,
April 25, 2002. The conference call will be available for playback on BD's
website or at 1-888-568-0381 through the close of business on May 2, 2002.
BECTON DICKINSON AND COMPANY
CONSOLIDATED INCOME STATEMENTS
(Unaudited; Amounts in thousands, except per-share data)
Three Months Ended March 31,
2002 2001 % Change
- --------------------------------------------------------------------------------
REVENUES $1,012,971 $950,949 6.5
Cost of products sold 523,133 486,738 7.5
Selling and administrative 247,660 241,912 2.4
Research and development 56,314 54,497 3.3
Special charges 9,937 - NM
- --------------------------------------------------------------------------------
TOTAL OPERATING COSTS
AND EXPENSES 837,044 783,147 6.9
- --------------------------------------------------------------------------------
OPERATING INCOME 175,927 167,802 4.8
Interest expense, net (8,839) (15,998) (44.7)
Other income (expense), net 492 (3,200) NM
- --------------------------------------------------------------------------------
INCOME BEFORE
INCOME TAXES 167,580 148,604 12.8
Income tax provision 38,392 34,439 11.5
- --------------------------------------------------------------------------------
NET INCOME $ 129,188 $114,165 13.2
- --------------------------------------------------------------------------------
EARNINGS PER SHARE
Basic $ 0.50 $ 0.44 13.6
Diluted $ 0.48 $ 0.42 14.3
- --------------------------------------------------------------------------------
AVERAGE SHARES OUTSTANDING
Basic 258,436 257,021
Diluted 269,709 269,172
- --------------------------------------------------------------------------------
NM - Not Meaningful
See page 3 for Notes to Consolidated Income Statements.
Page 1
BECTON DICKINSON AND COMPANY
CONSOLIDATED INCOME STATEMENTS
(Unaudited; Amounts in thousands, except per-share data)
Six Months Ended March 31,
2002 2001 % Change
- --------------------------------------------------------------------------------
REVENUES $1,957,917 $1,815,367 7.9
Cost of products sold 1,022,895 940,656 8.7
Selling and administrative 495,954 477,204 3.9
Research and development 111,551 107,224 4.0
Special charges 9,937 - NM
- --------------------------------------------------------------------------------
TOTAL OPERATING COSTS
AND EXPENSES 1,640,337 1,525,084 7.6
- --------------------------------------------------------------------------------
OPERATING INCOME 317,580 290,283 9.4
Interest expense, net (18,410) (34,562) (46.7)
Other expense, net (1,124) (5,259) (78.6)
- --------------------------------------------------------------------------------
INCOME BEFORE
INCOME TAXES 298,046 250,462 19.0
Income tax provision 69,185 62,599 10.5
- --------------------------------------------------------------------------------
INCOME BEFORE
CUMULATIVE EFFECT OF
CHANGE IN ACCOUNTING
PRINCIPLE, NET OF TAX 228,861 187,863 21.8
Cumulative effect, net of tax - (36,750) NM
- --------------------------------------------------------------------------------
NET INCOME $ 228,861 $ 151,113 NM
- --------------------------------------------------------------------------------
BASIC EARNINGS PER SHARE
Before Cumulative Effect $ 0.88 $ 0.73 20.5
Cumulative Effect - (0.14) NM
- --------------------------------------------------------------------------------
Basic Earnings Per Share $ 0.88 $ 0.59 NM
- --------------------------------------------------------------------------------
DILUTED EARNINGS PER SHARE
Before Cumulative Effect $ 0.85 $ 0.70 21.4
Cumulative Effect - (0.14) NM
- --------------------------------------------------------------------------------
Diluted Earnings Per Share $ 0.85 $ 0.56 NM
- --------------------------------------------------------------------------------
AVERAGE SHARES OUTSTANDING
Basic 258,819 255,729
Diluted 270,030 267,806
- --------------------------------------------------------------------------------
NM - Not Meaningful
See page 3 for Notes to Consolidated Income Statements.
Page 2
BECTON DICKINSON AND COMPANY
NOTES TO CONSOLIDATED INCOME STATEMENTS
Six Months Ended March 31, 2002
Fiscal 2002 revenues included hedging costs of approximately $2.3 million for
the second quarter and $3.9 million for the six months. These costs related to
BD's purchased option contracts to hedge a portion of its anticipated sales from
the United States to non-U.S. customers. In fiscal 2001, similar hedging costs
of approximately $2.2 million for the second quarter and $8.1 million for the
six months were recorded in Other Expense under previous accounting guidance.
These amounts have been reclassed to revenues. Also included in revenues were
gains on purchased option and forward contracts recorded in revenues in the
fiscal 2002 of approximately $2.0 million for the second quarter and
$3.2 million for the six months, compared with $2.0 million and $4.1 million,
respectively, in fiscal 2001.
BD adopted the provisions of Securities and Exchange Commission Staff Accounting
Bulletin No. 101 "Revenue Recognition in Financial Statements," (SAB 101) in the
fourth quarter of fiscal 2001, retroactive to October 1, 2000. Prior year
amounts have been restated to reflect this adoption. A complete discussion of
this accounting change can be found in BD's 2001 annual report on Form 10-K.
Effective October 1, 2001, BD adopted the provisions of SFAS No. 142, "Goodwill
and Other Intangible Assets," which, among other things, eliminates the
requirement to amortize goodwill and certain other intangible assets. The
Company currently estimates the full year impact to earnings per share to be
approximately 10 cents or 2.5 cents per quarter.
Page 3
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY SEGMENT AND GEOGRAPHIC AREA
(Unaudited; Amounts in thousands)
Three Months Ended March 31,
2002 2001 % Change
-----------------------------------------------
BD MEDICAL SYSTEMS
United States $ 269,073 $ 244,511 10.0
International 261,311 255,013 2.5
- --------------------------------------------------------------------------------
TOTAL $ 530,384 $ 499,524 6.2
- --------------------------------------------------------------------------------
BD CLINICAL LABORATORY SOLUTIONS
United States $ 193,402 $ 175,725 10.1
International 124,255 121,748 2.1
- --------------------------------------------------------------------------------
TOTAL $ 317,657 $ 297,473 6.8
- --------------------------------------------------------------------------------
BD BIOSCIENCES
United States $ 88,496 $ 82,938 6.7
International 76,434 71,014 7.6
- --------------------------------------------------------------------------------
TOTAL $ 164,930 $ 153,952 7.1
- --------------------------------------------------------------------------------
TOTAL REVENUES
United States $ 550,971 $ 503,174 9.5
International 462,000 447,775 3.2
- --------------------------------------------------------------------------------
TOTAL $1,012,971 $ 950,949 6.5
- --------------------------------------------------------------------------------
Six Months Ended March 31,
2002 2001 % Change
-----------------------------------------------
BD MEDICAL SYSTEMS
United States $ 519,975 $ 470,515 10.5
International 513,439 489,398 4.9
- --------------------------------------------------------------------------------
TOTAL $1,033,414 $ 959,913 7.7
- --------------------------------------------------------------------------------
BD CLINICAL LABORATORY SOLUTIONS
United States $ 365,890 $ 335,404 9.1
International 246,516 236,672 4.2
- --------------------------------------------------------------------------------
TOTAL $ 612,406 $ 572,076 7.0
- --------------------------------------------------------------------------------
BD BIOSCIENCES
United States $ 165,196 $ 156,184 5.8
International 146,901 127,194 15.5
- --------------------------------------------------------------------------------
TOTAL $ 312,097 $ 283,378 10.1
- --------------------------------------------------------------------------------
TOTAL REVENUES
United States $1,051,061 $ 962,103 9.2
International 906,856 853,264 6.3
- --------------------------------------------------------------------------------
TOTAL $1,957,917 $1,815,367 7.9
- --------------------------------------------------------------------------------
Page 4
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND MAJOR PRODUCT GROUPS
Three Months Ended March 31,
(Unaudited; Amounts in thousands)
United States
-----------------------------------------------
2002 2001 % Change
-----------------------------------------------
BD MEDICAL SYSTEMS
Medical Surgical $173,068 $152,165 13.7
Consumer Health Care 74,903 72,704 3.0
Pharmaceutical Systems 14,635 12,422 17.8
Ophthalmic Systems 6,467 7,220 (10.4)
- --------------------------------------------------------------------------------
TOTAL $269,073 $244,511 10.0
- --------------------------------------------------------------------------------
BD CLINICAL LABORATORY SOLUTIONS
Preanalytical Solutions $ 92,497 $ 86,489 6.9
Diagnostic Systems 100,905 89,236 13.1
- --------------------------------------------------------------------------------
TOTAL $193,402 $175,725 10.1
- --------------------------------------------------------------------------------
BD BIOSCIENCES
Immunocytometry & Reagents $ 64,859 $ 59,365 9.3
Discovery Labware 23,637 23,573 0.3
- --------------------------------------------------------------------------------
TOTAL $ 88,496 $ 82,938 6.7
- --------------------------------------------------------------------------------
TOTAL UNITED STATES $550,971 $503,174 9.5
- --------------------------------------------------------------------------------
International
-----------------------------------------------
2002 2001 % Change
-----------------------------------------------
BD MEDICAL SYSTEMS
Medical Surgical $144,177 $144,421 (0.2)
Consumer Health Care 46,465 48,125 (3.4)
Pharmaceutical Systems 64,301 56,359 14.1
Ophthalmic Systems 6,368 6,108 4.3
- --------------------------------------------------------------------------------
TOTAL $261,311 $255,013 2.5
- --------------------------------------------------------------------------------
BD CLINICAL LABORATORY SOLUTIONS
Preanalytical Solutions $ 61,183 $ 62,353 (1.9)
Diagnostic Systems 63,072 59,395 6.2
- --------------------------------------------------------------------------------
TOTAL $124,255 $121,748 2.1
- --------------------------------------------------------------------------------
BD BIOSCIENCES
Immunocytometry & Reagents $ 59,637 $ 55,115 8.2
Discovery Labware 16,797 15,899 5.6
- --------------------------------------------------------------------------------
TOTAL $ 76,434 $ 71,014 7.6
- --------------------------------------------------------------------------------
TOTAL INTERNATIONAL $462,000 $447,775 3.2
- --------------------------------------------------------------------------------
Page 5
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND MAJOR PRODUCT GROUPS
Three Months Ended March 31, (continued)
(Unaudited; Amounts in thousands)
Total
-----------------------------------------------
2002 2001 % Change
-----------------------------------------------
BD MEDICAL SYSTEMS
Medical Surgical $ 317,245 $296,586 7.0
Consumer Health Care 121,368 120,829 0.4
Pharmaceutical Systems 78,936 68,781 14.8
Ophthalmic Systems 12,835 13,328 (3.7)
- --------------------------------------------------------------------------------
TOTAL $ 530,384 $499,524 6.2
- --------------------------------------------------------------------------------
BD CLINICAL LABORATORY SOLUTIONS
Preanalytical Solutions $ 153,680 $148,842 3.3
Diagnostic Systems 163,977 148,631 10.3
- --------------------------------------------------------------------------------
TOTAL $ 317,657 $297,473 6.8
- --------------------------------------------------------------------------------
BD BIOSCIENCES
Immunocytometry & Reagents $ 124,496 $114,480 8.7
Discovery Labware 40,434 39,472 2.4
- --------------------------------------------------------------------------------
TOTAL $ 164,930 $153,952 7.1
- --------------------------------------------------------------------------------
TOTAL REVENUES $1,012,971 $950,949 6.5
- --------------------------------------------------------------------------------
FX Neutral % Growth
-------------------------------
International Total
--------------- ---------------
BD MEDICAL SYSTEMS
Medical Surgical 5.1 9.5
Consumer Health Care 1.7 2.5
Pharmaceutical Systems 19.3 19.0
Ophthalmic Systems 8.5 (1.8)
- ----------------------------------------------------------------
TOTAL 7.7 8.8
- ----------------------------------------------------------------
BD CLINICAL LABORATORY SOLUTIONS
Preanalytical Solutions 2.6 5.1
Diagnostic Systems 12.8 13.0
- ----------------------------------------------------------------
TOTAL 7.6 9.1
- ----------------------------------------------------------------
BD BIOSCIENCES
Immunocytometry & Reagents 14.7 11.9
Discovery Labware 13.4 5.5
- ----------------------------------------------------------------
TOTAL 14.4 10.3
- ----------------------------------------------------------------
TOTAL 8.7 9.1
- ----------------------------------------------------------------
Page 6
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND MAJOR PRODUCT GROUPS
Six Months Ended March 31,
(Unaudited; Amounts in thousands)
United States
-----------------------------------------------
2002 2001 % Change
-----------------------------------------------
BD MEDICAL SYSTEMS
Medical Surgical $ 342,622 $292,205 17.3
Consumer Health Care 133,672 141,190 (5.3)
Pharmaceutical Systems 30,918 22,692 36.3
Ophthalmic Systems 12,763 14,428 (11.5)
- --------------------------------------------------------------------------------
TOTAL $ 519,975 $470,515 10.5
- --------------------------------------------------------------------------------
BD CLINICAL LABORATORY SOLUTIONS
Preanalytical Solutions $ 179,812 $163,069 10.3
Diagnostic Systems 186,078 172,335 8.0
- --------------------------------------------------------------------------------
TOTAL $ 365,890 $335,404 9.1
- --------------------------------------------------------------------------------
BD BIOSCIENCES
Immunocytometry & Reagents $ 119,294 $114,519 4.2
Discovery Labware 45,902 41,665 10.2
- --------------------------------------------------------------------------------
TOTAL $ 165,196 $156,184 5.8
- --------------------------------------------------------------------------------
TOTAL UNITED STATES $1,051,061 $962,103 9.2
- --------------------------------------------------------------------------------
International
-----------------------------------------------
2002 2001 % Change
-----------------------------------------------
BD MEDICAL SYSTEMS
Medical Surgical $ 290,141 $280,333 3.5
Consumer Health Care 91,439 95,601 (4.4)
Pharmaceutical Systems 119,566 102,540 16.6
Ophthalmic Systems 12,293 10,924 12.5
- --------------------------------------------------------------------------------
TOTAL $ 513,439 $489,398 4.9
- --------------------------------------------------------------------------------
BD CLINICAL LABORATORY SOLUTIONS
Preanalytical Solutions $ 123,251 $118,709 3.8
Diagnostic Systems 123,265 117,963 4.5
- --------------------------------------------------------------------------------
TOTAL $ 246,516 $236,672 4.2
- --------------------------------------------------------------------------------
BD BIOSCIENCES
Immunocytometry & Reagents $ 114,328 $ 97,259 17.6
Discovery Labware 32,573 29,935 8.8
- --------------------------------------------------------------------------------
TOTAL $ 146,901 $127,194 15.5
- --------------------------------------------------------------------------------
TOTAL INTERNATIONAL $ 906,856 $853,264 6.3
- --------------------------------------------------------------------------------
Page 7
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND MAJOR PRODUCT GROUPS
Six Months Ended March 31, (continued)
(Unaudited; Amounts in thousands)
Total
-----------------------------------------------
2002 2001 % Change
-----------------------------------------------
BD MEDICAL SYSTEMS
Medical Surgical $ 632,763 $ 572,538 10.5
Consumer Health Care 225,111 236,791 (4.9)
Pharmaceutical Systems 150,484 125,232 20.2
Ophthalmic Systems 25,056 25,352 (1.2)
- --------------------------------------------------------------------------------
TOTAL $1,033,414 $ 959,913 7.7
- --------------------------------------------------------------------------------
BD CLINICAL LABORATORY SOLUTIONS
Preanalytical Solutions $ 303,063 $ 281,778 7.6
Diagnostic Systems 309,343 290,298 6.6
- --------------------------------------------------------------------------------
TOTAL $ 612,406 $ 572,076 7.0
- --------------------------------------------------------------------------------
BD BIOSCIENCES
Immunocytometry & Reagents $ 233,622 $ 211,778 10.3
Discovery Labware 78,475 71,600 9.6
- --------------------------------------------------------------------------------
TOTAL $ 312,097 $ 283,378 10.1
- --------------------------------------------------------------------------------
TOTAL REVENUES $1,957,917 $1,815,367 7.9
- --------------------------------------------------------------------------------
FX Neutral % Growth
-------------------------------
International Total
--------------- ---------------
BD MEDICAL SYSTEMS
Medical Surgical 7.9 12.7
Consumer Health Care (1.2) (3.7)
Pharmaceutical Systems 18.6 21.8
Ophthalmic Systems 14.9 (0.2)
- ----------------------------------------------------------------
TOTAL 8.5 9.5
- ----------------------------------------------------------------
BD CLINICAL LABORATORY SOLUTIONS
Preanalytical Solutions 6.3 8.6
Diagnostic Systems 8.2 8.1
- ----------------------------------------------------------------
TOTAL 7.3 8.3
- ----------------------------------------------------------------
BD BIOSCIENCES
Immunocytometry & Reagents 20.5 11.7
Discovery Labware 13.5 11.6
- ----------------------------------------------------------------
TOTAL 18.9 11.6
- ----------------------------------------------------------------
TOTAL 9.7 9.5
- ----------------------------------------------------------------
Page 8