Contact:
- --------
Dean J. Paranicas/Investor Relations - 201-847-7102
Charles A. Borgognoni/Corporate Communications - 201-847-6651
BD ANNOUNCES RESULTS FOR FISCAL THIRD QUARTER
Franklin Lakes, NJ (July 24, 2002) - BD (Becton, Dickinson and Company) (NYSE:
BDX) today reported quarterly revenues of $998 million for the fiscal third
quarter ended June 30, 2002, an increase of 6 percent from the same period a
year ago.
"We are pleased with our performance, paced by solid increases in sales of our
safety-engineered products, prefillable drug delivery devices, and BD
Biosciences immunology/cell biology reagents and Discovery Labware products,"
said Edward J. Ludwig, Chairman, President and Chief Executive Officer. "We
remain on track to achieve our full-year performance objectives."
Diluted earnings per share were 44 cents for the third quarter. Included in
third quarter earnings per share was a special charge of 4 cents recorded
primarily in connection with the previously announced manufacturing
restructuring in the BD Medical Systems segment. In addition, operating earnings
included one cent of other manufacturing costs related to the restructuring that
are reflected in cost of products sold. Excluding the special charge of 4 cents,
diluted earnings per share would be 48 cents.
Q3 Segment Results
- ------------------
In the BD Medical Systems segment, worldwide revenues of $544 million increased
7 percent. Included in BD Medical Systems revenues were U.S. safety-engineered
product sales of $88 million, versus $66 million in the prior year's quarter.
Also contributing to the growth of the segment were sales of prefillable drug
delivery devices, which grew 20 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 by lower Consumer Health Care
sales.
Within Consumer Health Care, recording of sales of diabetes syringes in the U.S.
is deferred until these products are sold by the Company's distribution channel
partners to their end customers. In determining the amount of sales to be
recorded each quarter, the Company relies upon independent sales and inventory
data from its distribution channel partners. In the third quarter, one
distribution channel partner reported that it held a higher level of inventory
than it had previously reported to the Company. Accordingly, reported sales of
diabetes syringes were negatively impacted by approximately $8 million. Sales by
distribution channel partners to their end customers increased in line with the
Company's expectations in the third quarter.
In the BD Clinical Laboratory Solutions segment, worldwide revenues increased 5
percent to $298 million. Revenue growth of 11 percent in the Preanalytical
Solutions portion of the segment was attributable primarily to U.S.
safety-engineered device sales, which were $57 million, versus $43 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. In addition, worldwide sales of the Diagnostic Systems portion of the
segment declined by 2 percent. As discussed in the second quarter press release,
U.S. distributors had stocked inventory in advance of the installation by
Diagnostic Systems of a new enterprise resource planning system. This inventory
stocking adversely impacted revenue growth in the third quarter.
In the BD Biosciences segment, worldwide revenues grew 3 percent to $156
million. Revenue growth was driven by strong sales of immunology/cell biology
reagents (Pharmingen) and Discovery Labware products, which together represent
slightly less than half of BD Biosciences' worldwide revenues. Molecular biology
reagent (Clontech) revenues decreased versus the prior year's quarter due to
continued weakness in some portions of the molecular biology market, largely due
to an industry shift from early stage drug target identification to later stage
drug development. In response to these developments, BD Biosciences has adjusted
its related workforce and redirected its research and development efforts toward
later stage drug development products. Softness in pharmaceutical research and
development and related capital spending, coupled with the timing of certain
instrument installations that are anticipated to occur in the fourth quarter,
resulted in essentially flat revenues from flow cytometry instruments and
reagents (Immunocytometry Systems) in the quarter.
Q3 Geographic Results
- ---------------------
On a geographic basis, third quarter revenues in the U.S. increased 4 percent
to $532 million. Revenues outside the U.S. of $466 million grew 7 percent.
At constant foreign exchange rates, revenues outside the U.S. grew 9 percent.
Nine-month Results
- ------------------
For the nine-month period ended June 30, 2002, reported revenues were $2.956
billion, a 7 percent increase over a year ago, or 8 percent at constant foreign
exchange rates. Diluted earnings per share for the nine-month period were $1.29,
or $1.35 excluding the special charges primarily relating to the manufacturing
restructuring, and reflect an approximate 7 1/2 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 $1.14, before the cumulative effect of an accounting change.
Restructuring and Divestitures
- ------------------------------
In connection with the manufacturing restructuring, the Company recorded a
special charge of approximately $12 million, or 4 cents per share, in the third
quarter. Included in this amount was the reversal of approximately $4 million of
special charges recorded in fiscal 2000, primarily resulting from lower than
anticipated employee severance. As expected, ongoing operating results in the
third quarter reflect the impact of other manufacturing restructuring costs
included in cost of products sold, which reduced earnings per share by
approximately one cent. The Company recorded a special charge of approximately
$10 million, or two cents per share, in the second quarter of fiscal 2002
associated with this restructuring program.
On April 8, 2002 the Company entered into a non-binding letter of intent with
Aortech International plc ("Aortech") to sell its critical care product line. As
previously indicated, several important actions must occur, including the
execution of a definitive purchase agreement and the approval of Aortech's Board
of Directors and shareholders, before the sale can be completed. Assuming these
actions are completed, the Company would record a substantially non-cash loss on
sale (pre-tax), currently estimated to be in the $35 to $40 million range.
Fiscal 2002 Outlook
- -------------------
The Company continues to expect diluted earnings per share to be approximately
$1.88 for fiscal 2002 and approximately 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 Reported 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 - - ($0.01) ($0.01) ($0.02)
restructuring costs (B)
- -------------------------------------------------------------------------------------------------
Diluted EPS before $0.37 $0.50 $0.48 $0.53 $1.88
special charges and loss
on potential sale of
Critical Care product line
- -------------------------------------------------------------------------------------------------
Special charges - ($0.02) ($0.04) - ($0.06)
- -------------------------------------------------------------------------------------------------
Diluted EPS before loss $0.37 $0.48 $0.44 $0.53 $1.82
on potential sale of (C)
Critical Care product line
- -------------------------------------------------------------------------------------------------
(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) Recorded to cost of products sold.
(C) Does not include estimated loss on potential sale of Critical Care
product line.
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,
July 25, 2002. The conference call will be available for playback on BD's
website or at 1-800-945-3063 through the close of business on August 1, 2002.
BECTON DICKINSON AND COMPANY
CONSOLIDATED INCOME STATEMENTS
(Unaudited; Amounts in thousands, except per-share data)
Three Months Ended June 30,
2002 2001 % Change
- -----------------------------------------------------------------------------
REVENUES $ 998,460 $ 943,290 5.8
Cost of products sold 514,071 474,891 8.3
Selling and administrative 253,857 248,709 2.1
Research and development 53,037 53,105 (0.1)
Special charges 11,571 - NM
- -----------------------------------------------------------------------------
TOTAL OPERATING COSTS
AND EXPENSES 832,536 776,705 7.2
- -----------------------------------------------------------------------------
OPERATING INCOME 165,924 166,585 (0.4)
Interest expense, net (8,678) (13,155) (34.0)
Other income (expense), net 1,313 (367) NM
- -----------------------------------------------------------------------------
INCOME BEFORE
INCOME TAXES 158,559 153,063 3.6
Income tax provision 38,834 34,934 11.2
- -----------------------------------------------------------------------------
NET INCOME $ 119,725 $ 118,129 1.4
- -----------------------------------------------------------------------------
EARNINGS PER SHARE
Basic $ 0.46 $ 0.46 -
Diluted $ 0.44 $ 0.44 -
- -----------------------------------------------------------------------------
AVERAGE SHARES OUTSTANDING
Basic 258,067 258,086
Diluted 269,011 269,653
- -----------------------------------------------------------------------------
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)
Nine Months Ended June 30,
2002 2001 % Change
- -----------------------------------------------------------------------------
REVENUES $ 2,956,377 $ 2,758,657 7.2
Cost of products sold 1,536,966 1,415,547 8.6
Selling and administrative 749,811 725,913 3.3
Research and development 164,588 160,329 2.7
Special charges 21,508 - NM
- -----------------------------------------------------------------------------
TOTAL OPERATING COSTS
AND EXPENSES 2,472,873 2,301,789 7.4
- -----------------------------------------------------------------------------
OPERATING INCOME 483,504 456,868 5.8
Interest expense, net (27,088) (47,717) (43.2)
Other income (expense), net 189 (5,626) NM
- -----------------------------------------------------------------------------
INCOME BEFORE
INCOME TAXES 456,605 403,525 13.2
Income tax provision 108,019 97,533 10.8
- -----------------------------------------------------------------------------
INCOME BEFORE
CUMULATIVE EFFECT OF
CHANGE IN ACCOUNTING
PRINCIPLE, NET OF TAX 348,586 305,992 13.9
Cumulative effect, net of tax - (36,750) NM
- -----------------------------------------------------------------------------
NET INCOME $ 348,586 $ 269,242 NM
- -----------------------------------------------------------------------------
BASIC EARNINGS PER SHARE
Before Cumulative Effect $ 1.34 $ 1.18 13.6
Cumulative Effect - (0.14) NM
- -----------------------------------------------------------------------------
Basic Earnings Per Share $ 1.34 $ 1.04 NM
- -----------------------------------------------------------------------------
DILUTED EARNINGS PER SHARE
Before Cumulative Effect $ 1.29 $ 1.14 13.2
Cumulative Effect - (0.14) NM
- -----------------------------------------------------------------------------
Diluted Earnings Per Share $ 1.29 $ 1.00 NM
- -----------------------------------------------------------------------------
AVERAGE SHARES OUTSTANDING
Basic 258,568 256,513
Diluted 269,734 268,357
- -----------------------------------------------------------------------------
NM - Not Meaningful
See page 3 for Notes to Consolidated Income Statements.
Page 2
BECTON DICKINSON AND COMPANY
NOTES TO CONSOLIDATED INCOME STATEMENTS
Nine Months Ended June 30, 2002
Fiscal 2002 revenues included hedging costs of approximately $3.1 million for
the third quarter and $7.0 million for the nine months, compared with $0.4
million and $8.6 million, respectively, in fiscal 2001. 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. Hedging costs of approximately
$8.1 million for the first six months of fiscal 2001 were recorded in
Other Expense under previous accounting guidance. This amount has been reclassed
to revenues. Also included in revenues were gains on purchased option and
forward contracts recorded in revenues in fiscal 2002 of approximately
$1.3 million for the third quarter and $4.4 million for the nine months
compared with $4.0 million and $8.1 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 June 30,
2002 2001 % Change
--------------------------------------------
BD MEDICAL SYSTEMS
United States $ 272,020 $ 255,434 6.5
International 272,156 251,984 8.0
- -----------------------------------------------------------------------------
TOTAL $ 544,176 $ 507,418 7.2
- -----------------------------------------------------------------------------
BD CLINICAL LABORATORY SOLUTIONS
United States $ 174,976 $ 168,757 3.7
International 123,054 115,659 6.4
- -----------------------------------------------------------------------------
TOTAL $ 298,030 $ 284,416 4.8
- -----------------------------------------------------------------------------
BD BIOSCIENCES
United States $ 85,083 $ 84,980 0.1
International 71,171 66,476 7.1
- -----------------------------------------------------------------------------
TOTAL $ 156,254 $ 151,456 3.2
- -----------------------------------------------------------------------------
TOTAL REVENUES
United States $ 532,079 $ 509,171 4.5
International 466,381 434,119 7.4
- -----------------------------------------------------------------------------
TOTAL $ 998,460 $ 943,290 5.8
- -----------------------------------------------------------------------------
Nine Months Ended June 30,
2002 2001 % Change
--------------------------------------------
BD MEDICAL SYSTEMS
United States $ 791,995 $ 725,949 9.1
International 785,595 741,382 6.0
- -----------------------------------------------------------------------------
TOTAL $ 1,577,590 $ 1,467,331 7.5
- -----------------------------------------------------------------------------
BD CLINICAL LABORATORY SOLUTIONS
United States $ 540,866 $ 504,161 7.3
International 369,570 352,331 4.9
- -----------------------------------------------------------------------------
TOTAL $ 910,436 $ 856,492 6.3
- -----------------------------------------------------------------------------
BD BIOSCIENCES
United States $ 250,279 $ 241,164 3.8
International 218,072 193,670 12.6
- -----------------------------------------------------------------------------
TOTAL $ 468,351 $ 434,834 7.7
- -----------------------------------------------------------------------------
TOTAL REVENUES
United States $ 1,583,140 $ 1,471,274 7.6
International 1,373,237 1,287,383 6.7
- -----------------------------------------------------------------------------
TOTAL $ 2,956,377 $ 2,758,657 7.2
- -----------------------------------------------------------------------------
Page 4
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND MAJOR PRODUCT GROUPS
Three Months Ended June 30,
(Unaudited; Amounts in thousands)
United States
--------------------------------------------
2002 2001 % Change
--------------------------------------------
BD MEDICAL SYSTEMS
Medical Surgical $ 178,631 $ 159,871 11.7
Consumer Health Care 66,676 72,832 (8.5)
Pharmaceutical Systems 19,909 15,772 26.2
Ophthalmic Systems 6,804 6,959 (2.2)
- -----------------------------------------------------------------------------
TOTAL $ 272,020 $ 255,434 6.5
- -----------------------------------------------------------------------------
BD CLINICAL LABORATORY SOLUTIONS
Preanalytical Solutions $ 97,306 $ 86,896 12.0
Diagnostic Systems 77,670 81,861 (5.1)
- -----------------------------------------------------------------------------
TOTAL $ 174,976 $ 168,757 3.7
- -----------------------------------------------------------------------------
BD BIOSCIENCES
Discovery Labware $ 26,643 $ 25,304 5.3
Immunocytometry & Reagents:
Flow Cytometry Instruments
& Reagents 27,668 29,379 (5.8)
Molecular Biology Reagents 13,617 15,415 (11.7)
Immunology/Cell Biology
Reagents 17,155 14,882 15.3
- -----------------------------------------------------------------------------
Total Immunocytometry & Reagents 58,440 59,676 (2.1)
- -----------------------------------------------------------------------------
TOTAL $ 85,083 $ 84,980 0.1
- -----------------------------------------------------------------------------
TOTAL UNITED STATES $ 532,079 $ 509,171 4.5
- -----------------------------------------------------------------------------
International
--------------------------------------------
2002 2001 % Change
--------------------------------------------
BD MEDICAL SYSTEMS
Medical Surgical $ 148,457 $ 141,077 5.2
Consumer Health Care 45,361 45,106 0.6
Pharmaceutical Systems 71,210 59,863 19.0
Ophthalmic Systems 7,128 5,938 20.0
- -----------------------------------------------------------------------------
TOTAL $ 272,156 $ 251,984 8.0
- -----------------------------------------------------------------------------
BD CLINICAL LABORATORY SOLUTIONS
Preanalytical Solutions $ 65,551 $ 59,514 10.1
Diagnostic Systems 57,503 56,145 2.4
- -----------------------------------------------------------------------------
TOTAL $ 123,054 $ 115,659 6.4
- -----------------------------------------------------------------------------
BD BIOSCIENCES
Discovery Labware $ 16,993 $ 15,189 11.9
Immunocytometry & Reagents:
Flow Cytometry Instruments
& Reagents 38,659 37,417 3.3
Molecular Biology Reagents 4,591 4,449 3.2
Immunology/Cell Biology
Reagents 10,928 9,421 16.0
- -----------------------------------------------------------------------------
Total Immunocytometry & Reagents 54,178 51,287 5.6
- -----------------------------------------------------------------------------
TOTAL $ 71,171 $ 66,476 7.1
- -----------------------------------------------------------------------------
TOTAL INTERNATIONAL $ 466,381 $ 434,119 7.4
- -----------------------------------------------------------------------------
Page 5
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND MAJOR PRODUCT GROUPS
Three Months Ended June 30, (continued)
(Unaudited; Amounts in thousands)
Total
--------------------------------------------
2002 2001 % Change
--------------------------------------------
BD MEDICAL SYSTEMS
Medical Surgical $ 327,088 $ 300,948 8.7
Consumer Health Care 112,037 117,938 (5.0)
Pharmaceutical Systems 91,119 75,635 20.5
Ophthalmic Systems 13,932 12,897 8.0
- -----------------------------------------------------------------------------
TOTAL $ 544,176 $ 507,418 7.2
- -----------------------------------------------------------------------------
BD CLINICAL LABORATORY SOLUTIONS
Preanalytical Solutions $ 162,857 $ 146,410 11.2
Diagnostic Systems 135,173 138,006 (2.1)
- -----------------------------------------------------------------------------
TOTAL $ 298,030 $ 284,416 4.8
- -----------------------------------------------------------------------------
BD BIOSCIENCES
Discovery Labware $ 43,636 $ 40,493 7.8
Immunocytometry & Reagents:
Flow Cytometry Instruments
& Reagents 66,327 66,796 (0.7)
Molecular Biology Reagents 18,208 19,864 (8.3)
Immunology/Cell Biology
Reagents 28,083 24,303 15.6
- -----------------------------------------------------------------------------
Total Immunocytometry & Reagents 112,618 110,963 1.5
- -----------------------------------------------------------------------------
TOTAL $ 156,254 $ 151,456 3.2
- -----------------------------------------------------------------------------
TOTAL REVENUES $ 998,460 $ 943,290 5.8
- -----------------------------------------------------------------------------
FX Neutral % Growth
-------------------------------
International Total
--------------- ---------------
BD MEDICAL SYSTEMS
Medical Surgical 5.9 9.0
Consumer Health Care 1.7 (4.6)
Pharmaceutical Systems 18.4 20.0
Ophthalmic Systems 22.2 9.0
- ----------------------------------------------------------------
TOTAL 8.5 7.5
- ----------------------------------------------------------------
BD CLINICAL LABORATORY SOLUTIONS
Preanalytical Solutions 10.7 11.5
Diagnostic Systems 5.3 (0.9)
- ----------------------------------------------------------------
TOTAL 8.1 5.5
- ----------------------------------------------------------------
BD BIOSCIENCES
Discovery Labware 15.4 9.1
Immunocytometry & Reagents:
Flow Cytometry Instruments
& Reagents 6.1 0.8
Molecular Biology Reagents 1.7 (8.7)
Immunology/Cell Biology
Reagents 15.5 15.4
- ----------------------------------------------------------------
Total Immunocytometry & Reagents 7.4 2.3
- ----------------------------------------------------------------
TOTAL 9.2 4.1
- ----------------------------------------------------------------
TOTAL 8.5 6.3
- ----------------------------------------------------------------
Page 6
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND MAJOR PRODUCT GROUPS
Nine Months Ended June 30,
(Unaudited; Amounts in thousands)
United States
--------------------------------------------
2002 2001 % Change
--------------------------------------------
BD MEDICAL SYSTEMS
Medical Surgical $ 521,253 $ 452,076 15.3
Consumer Health Care 200,348 214,022 (6.4)
Pharmaceutical Systems 50,827 38,464 32.1
Ophthalmic Systems 19,567 21,387 (8.5)
- -----------------------------------------------------------------------------
TOTAL $ 791,995 $ 725,949 9.1
- -----------------------------------------------------------------------------
BD CLINICAL LABORATORY SOLUTIONS
Preanalytical Solutions $ 277,118 $ 249,965 10.9
Diagnostic Systems 263,748 254,196 3.8
- -----------------------------------------------------------------------------
TOTAL $ 540,866 $ 504,161 7.3
- -----------------------------------------------------------------------------
BD BIOSCIENCES
Discovery Labware $ 72,545 $ 66,969 8.3
Immunocytometry & Reagents:
Flow Cytometry Instruments
& Reagents 88,078 86,345 2.0
Molecular Biology Reagents 41,243 45,409 (9.2)
Immunology/Cell Biology
Reagents 48,413 42,441 14.1
- -----------------------------------------------------------------------------
Total Immunocytometry & Reagents 177,734 174,195 2.0
- -----------------------------------------------------------------------------
TOTAL $ 250,279 $ 241,164 3.8
- -----------------------------------------------------------------------------
TOTAL UNITED STATES $ 1,583,140 $ 1,471,274 7.6
- -----------------------------------------------------------------------------
International
--------------------------------------------
2002 2001 % Change
--------------------------------------------
BD MEDICAL SYSTEMS
Medical Surgical $ 438,598 $ 421,410 4.1
Consumer Health Care 136,800 140,707 (2.8)
Pharmaceutical Systems 190,776 162,403 17.5
Ophthalmic Systems 19,421 16,862 15.2
- -----------------------------------------------------------------------------
TOTAL $ 785,595 $ 741,382 6.0
- -----------------------------------------------------------------------------
BD CLINICAL LABORATORY SOLUTIONS
Preanalytical Solutions $ 188,802 $ 178,223 5.9
Diagnostic Systems 180,768 174,108 3.8
- -----------------------------------------------------------------------------
TOTAL $ 369,570 $ 352,331 4.9
- -----------------------------------------------------------------------------
BD BIOSCIENCES
Discovery Labware $ 49,566 $ 45,124 9.8
Immunocytometry & Reagents:
Flow Cytometry Instruments
& Reagents 123,604 107,684 14.8
Molecular Biology Reagents 13,424 13,518 (0.7)
Immunology/Cell Biology
Reagents 31,478 27,344 15.1
- -----------------------------------------------------------------------------
Total Immunocytometry & Reagents 168,506 148,546 13.4
- -----------------------------------------------------------------------------
TOTAL $ 218,072 $ 193,670 12.6
- -----------------------------------------------------------------------------
TOTAL INTERNATIONAL $ 1,373,237 $ 1,287,383 6.7
- -----------------------------------------------------------------------------
Page 7
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND MAJOR PRODUCT GROUPS
Nine Months Ended June 30, (continued)
(Unaudited; Amounts in thousands)
Total
--------------------------------------------
2002 2001 % Change
--------------------------------------------
BD MEDICAL SYSTEMS
Medical Surgical $ 959,851 $ 873,486 9.9
Consumer Health Care 337,148 354,729 (5.0)
Pharmaceutical Systems 241,603 200,867 20.3
Ophthalmic Systems 38,988 38,249 1.9
- -----------------------------------------------------------------------------
TOTAL $ 1,577,590 $ 1,467,331 7.5
- -----------------------------------------------------------------------------
BD CLINICAL LABORATORY SOLUTIONS
Preanalytical Solutions $ 465,920 $ 428,188 8.8
Diagnostic Systems 444,516 428,304 3.8
- -----------------------------------------------------------------------------
TOTAL $ 910,436 $ 856,492 6.3
- -----------------------------------------------------------------------------
BD BIOSCIENCES
Discovery Labware $ 122,111 $ 112,093 8.9
Immunocytometry & Reagents:
Flow Cytometry Instruments
& Reagents 211,682 194,029 9.1
Molecular Biology Reagents 54,667 58,927 (7.2)
Immunology/Cell Biology
Reagents 79,891 69,785 14.5
- -----------------------------------------------------------------------------
Total Immunocytometry & Reagents 346,240 322,741 7.3
- -----------------------------------------------------------------------------
TOTAL $ 468,351 $ 434,834 7.7
- -----------------------------------------------------------------------------
TOTAL REVENUES $ 2,956,377 $ 2,758,657 7.2
- -----------------------------------------------------------------------------
FX Neutral % Growth
-------------------------------
International Total
--------------- ---------------
BD MEDICAL SYSTEMS
Medical Surgical 7.2 11.4
Consumer Health Care (0.3) (4.0)
Pharmaceutical Systems 18.5 21.1
Ophthalmic Systems 17.5 2.9
- ----------------------------------------------------------------
TOTAL 8.5 8.8
- ----------------------------------------------------------------
BD CLINICAL LABORATORY SOLUTIONS
Preanalytical Solutions 7.8 9.6
Diagnostic Systems 7.3 5.2
- ----------------------------------------------------------------
TOTAL 7.5 7.4
- ----------------------------------------------------------------
BD BIOSCIENCES
Discovery Labware 14.1 10.7
Immunocytometry & Reagents:
Flow Cytometry Instruments
& Reagents 17.8 10.8
Molecular Biology Reagents (0.7) (7.2)
Immunology/Cell Biology
Reagents 17.1 15.2
- ----------------------------------------------------------------
Total Immunocytometry & Reagents 16.0 8.5
- ----------------------------------------------------------------
TOTAL 15.6 9.0
- ----------------------------------------------------------------
TOTAL 9.3 8.4
- ----------------------------------------------------------------
Page 8