1 Becton Drive
Franklin Lakes, NJ 07417
www.bd.com
| News Release | |
Contact:
Patricia A. Spinella, Investor Relations – 201-847-5453
Colleen T. White, Corporate Communications – 201-847-5369
BD ANNOUNCES RESULTS FOR FOURTH FISCAL QUARTER AND FULL YEAR
|
|
• |
Fourth-quarter and full-year revenues each increased 10%; annual revenues were $5.4 billion |
|
|
• |
Fourth-quarter and full-year earnings per share from continuing operations, excluding specified items and share-based compensation expense, increased 19% to 83 cents and 20% to $3.07, respectively |
|
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• |
The Company plans to repatriate $1.3 billion of foreign earnings under the provisions of the American Jobs Creation Act |
Franklin Lakes, NJ (November 3, 2005) – BD (Becton, Dickinson and Company) (NYSE: BDX) today reported quarterly revenues of $1.379 billion for the fourth fiscal quarter ended September 30, 2005, representing an increase of 10 percent over the prior year period. This quarter’s growth rate includes an estimated 2 percent benefit from foreign currency translation. Revenue growth in all segments benefited from foreign currency translation, driven primarily by favorable exchange rates in Latin America, Asia Pacific, and Canada.
“Our excellent results this year were driven, in particular, by our strong international performance, new product revenue growth, and significant margin improvement,” said Edward J. Ludwig, Chairman, President and Chief Executive Officer. “Our Asia Pacific/Japan, Canada, Europe, and Latin American regions contributed double-digit revenue growth and the combination of higher margin products and increased operating effectiveness drove margin expansion. Performance such as this will allow us to continue to increase the pace of our R&D spending while also targeting double-digit earnings growth.”
“Our strong fourth quarter provides a solid foundation for fiscal 2006,” added Mr. Ludwig. “We feel confident in our expectation that earnings will grow by approximately 10 percent. On a performance basis, this equates to about 14 percent, excluding the expected negative impact of foreign currency translation.”
Analyses of Fourth Quarter and Full Fiscal Year 2005 and 2004 Earnings
The
following analyses of diluted earnings per share from continuing operations
for the fourth quarter and full fiscal year 2005 and 2004 identify specified
items and share-based compensation expense that affect comparability of results
between periods.
| (Table 1) | Three
Months Ended September 30, |
Twelve-month
Period Ended September 30, |
|||||||||||||||||||||||
| FY2005 | FY2004 | % Incr.(Decr.) | FY2005 | FY2004 | % Incr.(Decr.) | ||||||||||||||||||||
| Reported Diluted EPS | $ | 0.58 | $ | 0.26 | $ | 2.77 | $ | 1.77 | |||||||||||||||||
| Diluted EPS from Discontinued Operations: | |||||||||||||||||||||||||
| Income from Clontech | – | – | (0.01 | ) | – | ||||||||||||||||||||
| Gain on Sale of Clontech | (0.11 | ) | – | (0.11 | ) | – | |||||||||||||||||||
| Write-down of Clontech Net Assets | – | 0.44 | – | 0.44 | |||||||||||||||||||||
| Rounding | – | – | 0.01 | – | |||||||||||||||||||||
| (0.11 | ) | 0.44 | (0.11 | ) | 0.44 | ||||||||||||||||||||
| Diluted EPS from Continuing Operations | 0.47 | 0.70 | -33% | 2.66 | 2.21 | 20 | % | ||||||||||||||||||
| Specified Items: | |||||||||||||||||||||||||
| Tax Examinations(1) | – | – | (0.04 | ) | – | ||||||||||||||||||||
| Tax Rate Impact(2) | 0.02 | – | – | – | |||||||||||||||||||||
| Repatriation Tax Charge(3) | 0.27 | – | 0.27 | – | |||||||||||||||||||||
| BGM Charges(4) | – | – | – | 0.11 | |||||||||||||||||||||
| Litigation Settlement(5) | – | – | – | 0.24 | |||||||||||||||||||||
| Rounding | – | – | (0.01 | ) | – | ||||||||||||||||||||
| 0.29 | – | 0.22 | 0.35 | ||||||||||||||||||||||
| Diluted EPS from Continuing Operations Excluding Specified Items |
0.76 | 0.70 | 2.88 | 2.56 | |||||||||||||||||||||
| Share-based Compensation Expense(6) | 0.07 | – | 0.19 | – | |||||||||||||||||||||
| Diluted EPS from Continuing Operations Excluding Specified Items and Share-based Compensation Expense |
$ | 0.83 | $ | 0.70 | 19 | % | $ | 3.07 | $ | 2.56 | 20 | % | |||||||||||||
(1) Included in diluted earnings per share from continuing operations for the fiscal year ended September 30, 2005 is a benefit of approximately 4 cents per diluted share due to the reversal of tax reserves in connection with the conclusion of tax examinations in four non-U.S. jurisdictions that occurred in the first quarter.
(2) Represents the effect on diluted earnings per share from continuing operations of tax-related events that caused the tax rate to vary from the expected effective tax rate for the year. The effective tax rate for the year, without taking into account the tax impact of the items described in notes (1), (3) and (6) herein, is 25.5%.
(3) Included in diluted earnings per share from continuing operations for the fourth quarter of fiscal 2005 is 27 cents per diluted share substantially related to the impact on taxes of the planned repatriation of $1.3 billion of foreign earnings under the provisions of the American Jobs Creation Act.
(4) Included in fiscal 2004 diluted earnings per share from continuing operations is a first quarter charge of 11 cents per diluted share related to the voluntary recall and write-off of certain blood glucose strip inventory and other actions taken with respect to our blood glucose monitoring products.
(5) Included in fiscal 2004 diluted earnings per share from continuing operations is a third quarter charge of 24 cents per diluted share related to a litigation settlement.
(6) Represents the effect on diluted earnings per share from continuing operations relating to share-based compensation expense in accordance with the first quarter adoption of FASB Statement No. 123 (revised), “Share-Based Payment.”
Based on the foregoing analyses, diluted earnings per share from continuing operations for the fourth fiscal quarter of 2005, excluding specified items and share-based compensation expense, of 83 cents increased by 19 percent over diluted earnings per share from continuing operations of 70 cents for the fourth fiscal quarter of 2004. For the year, diluted earnings per share from continuing operations, excluding specified items and share-based compensation expense, of $3.07 increased by 20 percent over diluted earnings per share from continuing operations, excluding specified items, of $2.56 for fiscal 2004.
Reported diluted earnings per share for the fourth quarter of fiscal 2005 were 58 cents, including a 27 cents per diluted share tax charge that relates substantially to the Company’s planned repatriation of $1.3 billion of foreign earnings under the provisions of the American Jobs Creation Act, and a gain of 11 cents per diluted share from discontinued operations resulting from the sale of Clontech on August 31, 2005.
Reported diluted earnings per share for the fourth quarter of fiscal 2004 were 26 cents, reflecting a loss of 44 cents per share from discontinued operations and diluted earnings per share from continuing operations of 70 cents.
For the fiscal year ended September 30, 2005, reported revenues were $5.415 billion, representing a 10 percent increase from the prior year, including an estimated 3 percent benefit from foreign currency translation, which was based on favorable exchange rates in all regions. Reported diluted earnings per share for the fiscal year ended September 30, 2005 were $2.77, including the previously noted fourth quarter tax charge of 27 cents per share and a gain of 11 cents per share from discontinued operations resulting from the sale of Clontech.
For fiscal year 2004, reported diluted earnings per share were $1.77, which reflected diluted earnings per share of $2.21 from continuing operations, and a loss of 44 cents per share from discontinued operations. Included in the results of continuing operations for the year were a first quarter charge of 11 cents per share related to our blood glucose monitoring products and a third quarter charge of 24 cents per share related to a litigation settlement.
Segment Results
In the BD Medical segment, worldwide revenues for the quarter were $762 million, representing an increase of 11 percent from the prior year period. Contributing to the growth of the segment were strong sales in the Diabetes Care unit. Also contributing to growth were solid sales in the Medical Surgical Systems and Pharmaceutical Systems units. U.S. sales of safety-engineered products totaled $130 million, compared with $122 million in the prior year’s quarter. Included in BD Medical revenues for the quarter were international sales of safety-engineered products of $21 million, compared with $16 million in the prior year’s quarter.
For the full fiscal year ended September 30, 2005, total BD Medical segment revenues of $2.958 billion increased by 10 percent from the prior year. U.S. sales of safety-engineered products totaled $490 million, compared with $459 million in the prior year. International sales of safety-engineered products totaled $81 million, compared with $63 million in the prior year.
In the BD Diagnostics segment, worldwide revenues for the quarter were $403 million, representing an increase of 8 percent from the prior year period. The Diagnostic Systems unit of the segment reported revenue growth of 9 percent, due primarily to increased worldwide sales of its newer instrument platforms, BD Phoenix™ and BD ProbeTec™ ET. The Preanalytical Systems unit of the segment reported revenue growth of 7 percent. U.S. sales of safety-engineered products, benefiting from BD Vacutainer® Push Button Blood Collection Set activity, totaled $94 million, compared with $85 million in the prior year’s quarter. Included in Preanalytical Systems revenues for the quarter were international sales of safety-engineered products of $49 million, compared with $39 million in the prior year’s quarter.
For the full fiscal year ended September 30, 2005, total BD Diagnostics segment revenues of $1.657 billion increased by 8 percent from the prior year. U.S. sales of safety-engineered products totaled $352 million, compared with $317 million in the prior year. International sales of safety-engineered products totaled $192 million, compared with $140 million in the prior year.
In the BD Biosciences segment, worldwide revenues from continuing operations for the quarter were $214 million, representing an increase of 12 percent from the prior year period. Research instrument and reagent sales continued to be the primary growth contributors, driven by increased demand for research analyzers. As in the previous two quarters, increased sales of Discovery Labware products also contributed to revenue growth.
For the full fiscal year ended September 30, 2005, total BD Biosciences segment revenues of $800 million increased by 11 percent from the prior year, representing continued strong sales of flow cytometry instruments and reagents.
Geographic Results
Fourth quarter revenues in the U.S. of $687 million represented an increase of 9 percent over the prior year period. Revenues outside the U.S. of $692 million represented an increase of 11 percent over the prior year period, including an estimated 3 percent benefit from foreign currency translation.
For the full fiscal year ended September 30, 2005, revenues in the U.S. of $2.591 billion represented an increase of 6 percent over the prior year. Revenues outside of the U.S. of $2.824 billion represented an increase of 13 percent over the prior year, including an estimated 5 percent benefit from foreign currency translation.
Fiscal 2006 Outlook for Full Year and First Quarter
The Company estimates that diluted earnings per share from continuing operations for the fiscal year 2006 will increase approximately 10 percent over diluted earnings per share from continuing operations, excluding specified items, of $2.88 for the fiscal year 2005.
The Company also estimates that diluted earnings per share from continuing operations for the first fiscal quarter of 2006 will increase approximately 10 percent over diluted earnings per share from continuing operations, excluding specified items, of 68 cents for the first fiscal quarter of 2005.
The following analyses of estimated diluted earnings per share from continuing operations for the first fiscal quarter and full year identify specified items that affect the comparability of results between periods.
| (Table 2) | Three
Months Ended December 31, |
Twelve
months Ended September 30, |
|||||||||||||||||||||||
| FY2006 | FY2005 | % Incr. | FY2006 | FY2005 | % Incr. | ||||||||||||||||||||
(Estimated) |
(Estimated) |
||||||||||||||||||||||||
| Diluted EPS from Continuing Operations | $ | 0.74-$0.75 | $ | 0.74 | 0%-1% | $ | 3.15-$3.19 | $ | 2.66 | 18%-20% | |||||||||||||||
| Specified Items: | |||||||||||||||||||||||||
| Tax Examinations(1) | – | (0.04 | ) | – | (0.04 | ) | |||||||||||||||||||
| Tax Rate Impact(2) | – | (0.02 | ) | – | – | ||||||||||||||||||||
| Repatriation Tax Charge(3) | – | – | – | 0.27 | |||||||||||||||||||||
| Rounding | – | – | – | (0.01 | ) | ||||||||||||||||||||
| – | (0.06 | ) | – | 0.22 | |||||||||||||||||||||
| Diluted EPS from Continuing Operations Excluding Specified Items | $ | 0.74-$0.75 | $ | 0.68 | 9%-10% | $ | 3.15-$3.19 | $ | 2.88 | 9%-11% | |||||||||||||||
(1) Represents the effect on estimated diluted earnings per share from continuing operations of the reversal of tax reserves in the first fiscal quarter in connection with the conclusion of tax examinations in four non-U.S. jurisdictions.
(2) Represents the effect on diluted earnings per share from continuing operations of tax-related events that caused the tax rate to vary from the expected effective tax rate for fiscal 2005.
(3) Included in diluted earnings per share from continuing operations for the fourth quarter of fiscal 2005 is 27 cents per diluted share substantially related to the impact on taxes of the planned repatriation of $1.3 billion of foreign earnings under the provisions of the American Jobs Creation Act.
Conference Call Information
A conference call regarding BD’s fourth fiscal quarter and full year results and its expectations for the first fiscal quarter and full fiscal year 2006 will be broadcast live on BD’s website, www.bd.com/investors, at 10:00 a.m. (ET) Thursday, November 3, 2005. The conference call will be available for replay on BD’s website, www.bd.com/investors, or at 1-866-347-5807 (domestic) and 1-203-369-0023 (international) through the close of business on November 10, 2005.
This news release contains certain non-GAAP financial measures. A reconciliation of these and other measures to the comparable GAAP measures is included in this release and in the attached financial tables.
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. To learn more about BD, please visit www.bd.com.
***
This press release, including the section entitled “Fiscal 2006 Outlook for Full Year and First Quarter,” contains certain estimates and other forward-looking statements (as defined under Federal securities laws) regarding BD’s performance, including future revenues, earnings per share and income, or events or developments that BD expects to occur or anticipates occurring in the future. 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, 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; changes in interest or foreign currency exchange rates; difficulties inherent in product development and delays in
product introductions; changes in regional, national or foreign economic conditions; 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); changes in healthcare or other governmental regulation; and issuance of new or revised accounting standards, as well as other factors discussed in this press release and 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 September 30, |
|||||||
|
|
|
2005 |
|
2004 |
|
% Change |
|
||
|
|
|
|
|
|
|
|
|
|
|
| REVENUES |
|
$ |
1,379,476 |
|
$ |
1,253,278 |
|
10.1 |
|
|
|
|
|
|
|
|
|
|
|
|
| Cost of products sold |
|
|
662,746 |
(1) |
|
620,978 |
|
6.7 |
|
| Selling and administrative |
|
|
376,510 |
(1) |
|
320,269 |
|
17.6 |
|
| Research and development |
|
|
76,552 |
(1) |
|
58,708 |
|
30.4 |
|
|
TOTAL OPERATING COSTS AND EXPENSES |
|
|
1,115,808 |
|
|
999,955 |
|
11.6 |
|
|
|
|
|
|
|
|
|
|
|
|
| OPERATING INCOME |
|
|
263,668 |
|
|
253,323 |
|
4.1 |
|
|
|
|
|
|
|
|
|
|
|
|
| Interest expense, net |
|
|
(2,013 |
) |
|
(8,592 |
) |
(76.6 |
) |
| Other expense, net |
|
|
(977 |
) |
|
(161 |
) |
NM |
|
|
|
|
|
|
|
|
|
|
|
|
| INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES |
|
|
260,678 |
|
|
244,570 |
|
6.6 |
|
|
|
|
|
|
|
|
|
|
|
|
| Income tax provision |
|
|
139,103 |
|
|
61,236 |
|
NM |
|
|
|
|
|
|
|
|
|
|
|
|
| INCOME FROM CONTINUING OPERATIONS |
|
|
121,575 |
|
|
183,334 |
|
(33.7 |
) |
|
|
|
|
|
|
|
|
|
|
|
| INCOME (LOSS) FROM DISCONTINUED OPERATIONS NET OF INCOME TAX BENEFIT OF $15,986 IN 2005 AND $8,349 IN 2004, RESPECTIVELY |
|
|
27,519 |
|
|
(115,890 |
) |
NM |
|
|
|
|
|
|
|
|
|
|
|
|
|
NET INCOME |
|
$ |
149,094 |
|
$ |
67,444 |
|
NM |
|
|
|
|
|
|
|
|
|
|
|
|
| EARNINGS PER SHARE |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic: |
|
|
|
|
|
|
|
|
|
| Income from continuing operations |
|
$ |
0.49 |
|
$ |
0.73 |
|
(32.9 |
) |
| Income (loss) from discontinued operations |
|
$ |
0.11 |
|
$ |
(0.46 |
) |
NM |
|
| Net income |
|
$ |
0.60 |
|
$ |
0.27 |
|
NM |
|
|
|
|
|
|
|
|
|
|
|
|
| Diluted: |
|
|
|
|
|
|
|
|
|
| Income from continuing operations |
|
$ |
0.47 |
|
$ |
0.70 |
|
(32.9 |
) |
| Income (loss) from discontinued operations |
|
$ |
0.11 |
|
$ |
(0.44 |
) |
NM |
|
| Net income |
|
$ |
0.58 |
|
$ |
0.26 |
|
NM |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| AVERAGE SHARES OUTSTANDING |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic |
|
|
249,236 |
|
|
250,202 |
|
|
|
|
Diluted |
|
|
256,878 |
|
|
261,334 |
|
|
|
NM - Not Meaningful
| (1) |
Includes share-based compensation expense in accordance with the first quarter adoption of SFAS No. 123 (revised), “Share-Based Payment”. |
Page 1
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL INFORMATION
Three Months Ended September 30,
(Unaudited; Amounts in thousands, except per-share data)
|
|
|
2005 |
|
|
|
|
|
||||||||||||
|
|
|
As
|
|
SFAS# 123(revised) |
|
Tax |
|
Repatriation |
|
Excluding |
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cost of products sold |
|
$ |
662,746 |
|
$ |
(3,456 |
) |
|
$ |
– |
|
|
$ |
– |
|
|
$ |
659,290 |
|
| as a % of revenues |
|
|
48.0% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
47.8% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Gross profit |
|
|
716,730 |
|
|
3,456 |
|
|
|
– |
|
|
|
– |
|
|
|
720,186 |
|
| as a % of revenues |
|
|
52.0% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
52.2% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Selling and administrative |
|
|
376,510 |
|
|
(19,570 |
) |
|
|
– |
|
|
|
– |
|
|
|
356,940 |
|
| as a % of revenues |
|
|
27.3% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
25.9% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Research and development |
|
|
76,552 |
|
|
(2,149 |
) |
|
|
– |
|
|
|
– |
|
|
|
74,403 |
|
| as a % of revenues |
|
|
5.5% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.4% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Operating Income |
|
|
263,668 |
|
|
25,175 |
|
|
|
– |
|
|
|
– |
|
|
|
288,843 |
|
| as a % of revenues |
|
|
19.1% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
20.9% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income taxes |
|
|
139,103 |
|
|
7,610 |
|
|
|
(4,181 |
) |
|
|
(69,638 |
) |
|
|
72,894 |
|
| effective tax rate |
|
|
53.4% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
25.5% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income from continuing operations |
|
|
121,575 |
|
|
17,565 |
|
|
|
4,181 |
|
|
|
69,638 |
|
|
|
212,959 |
|
| as a % of revenues |
|
|
8.8% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
15.4% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Diluted earnings per share |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income from continuing operations |
|
$ |
0.47 |
|
$ |
0.07 |
|
|
$ |
0.02 |
|
|
$ |
0.27 |
|
|
$ |
0.83 |
|
| Income from discontinued operations |
|
$ |
0.11 |
|
$ |
– |
|
|
$ |
– |
|
|
$ |
– |
|
|
$ |
0.11 |
|
| Diluted earnings per share |
|
$ |
0.58 |
|
$ |
0.07 |
|
|
$ |
0.02 |
|
|
$ |
0.27 |
|
|
$ |
0.94 |
|
| (1) |
Relates to the first quarter adoption of SFAS No. 123 (revised), "Share-Based Payment". Fiscal 2004 amounts have not been restated. |
| (2) |
Represents the effect on diluted earnings per share from continuing operations of tax-related events that caused the tax rate to vary from the expected effective tax rate for the year. |
| (3) |
Relates substantially to the planned repatriation of $1.3 billion of foreign earnings under the provisions of the American Jobs Creation Act. |
Page 2
BECTON DICKINSON AND COMPANY
CONSOLIDATED INCOME STATEMENTS
(Unaudited; Amounts in thousands, except per-share data)
|
|
|
Twelve Months Ended September 30, |
|||||||
|
|
|
2005 |
|
2004 |
|
% Change |
|
||
| REVENUES |
|
$ |
5,414,681 |
|
$ |
4,934,745 |
|
9.7 |
|
|
|
|
|
|
|
|
|
|
|
|
| Cost of products sold |
|
|
2,662,029 |
(1) |
|
2,500,362 |
(2) |
6.5 |
|
| Selling and administrative |
|
|
1,449,856 |
(1) |
|
1,311,467 |
|
10.6 |
|
| Research and development |
|
|
271,626 |
(1) |
|
235,649 |
|
15.3 |
|
|
Litigation settlement |
|
|
– |
|
|
100,000 |
|
NM |
|
| TOTAL OPERATING COSTS AND EXPENSES |
|
|
4,383,511 |
|
|
4,147,478 |
|
5.7 |
|
| OPERATING INCOME |
|
|
1,031,170 |
|
|
787,267 |
|
31.0 |
|
|
|
|
|
|
|
|
|
|
|
|
| Interest expense, net |
|
|
(19,252 |
) |
|
(29,607 |
) |
(35.0 |
) |
|
Other (expense) income, net |
|
|
(7,064 |
) |
|
(4,792 |
) |
47.4 |
|
| INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES |
|
|
1,004,854 |
|
|
752,868 |
|
33.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax provision |
|
|
312,571 |
|
|
170,364 |
|
83.5 |
|
| INCOME FROM CONTINUING OPERATIONS |
|
|
692,283 |
|
|
582,504 |
|
18.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
INCOME (LOSS) FROM DISCONTINUED OPERATIONS NET OF INCOME TAX BENEFIT OF $14,439 IN 2005 AND $7,961 IN 2004, RESPECTIVELY |
|
|
29,980 |
|
|
(115,102 |
) |
NM |
|
|
|
|
|
|
|
|
|
|
|
|
| NET INCOME |
|
$ |
722,263 |
|
$ |
467,402 |
|
54.5 |
|
|
|
|
|
|
|
|
|
|
|
|
| EARNINGS PER SHARE |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic: |
|
|
|
|
|
|
|
|
|
| Income from continuing operations |
|
$ |
2.75 |
|
$ |
2.30 |
|
19.6 |
|
| Income (loss) from discontinued operations |
|
$ |
0.12 |
|
$ |
(0.46 |
) |
NM |
|
| Net income (3) |
|
$ |
2.87 |
|
$ |
1.85 |
|
55.1 |
|
|
|
|
|
|
|
|
|
|
|
|
| Diluted: |
|
|
|
|
|
|
|
|
|
| Income from continuing operations |
|
$ |
2.66 |
|
$ |
2.21 |
|
20.4 |
|
| Income (loss) from discontinued operations |
|
$ |
0.11 |
|
$ |
(0.44 |
) |
NM |
|
| Net income |
|
$ |
2.77 |
|
$ |
1.77 |
|
56.5 |
|
|
|
|
|
|
|
|
|
|
|
|
| AVERAGE SHARES OUTSTANDING |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic |
|
|
251,429 |
|
|
252,011 |
|
|
|
| Diluted |
|
|
260,712 |
|
|
263,337 |
|
|
|
NM - Not Meaningful
| (1) |
Includes share-based compensation expense in accordance with the first quarter adoption of SFAS No. 123 (revised), "Share-Based Payment". |
| (2) |
Includes a $45,024 charge associated with blood glucose monitoring (BGM) products. |
| (3) |
Total per share amounts may not add due to rounding. |
Page 3
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL INFORMATION
Twelve Months Ended September 30,
(Unaudited; Amounts in thousands, except per-share data)
|
|
|
2005 |
|
|
|
|
|
||||||||||||
|
|
|
As
|
|
SFAS# 123(revised) |
|
Tax |
|
Repatriation |
|
Excluding |
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cost of products sold |
|
$ |
2,662,029 |
|
$ |
(9,749 |
) |
|
$ |
– |
|
|
$ |
– |
|
|
$ |
2,652,280 |
|
| as a % of revenues |
|
|
49.2% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
49.0% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Gross profit |
|
|
2,752,652 |
|
|
9,749 |
|
|
|
– |
|
|
|
– |
|
|
|
2,762,401 |
|
| as a % of revenues |
|
|
50.8% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
51.0% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Selling and administrative |
|
|
1,449,856 |
|
|
(54,454 |
) |
|
|
– |
|
|
|
– |
|
|
|
1,395,402 |
|
| as a % of revenues |
|
|
26.8% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
25.8% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Research and development |
|
|
271,626 |
|
|
(5,996 |
) |
|
|
– |
|
|
|
– |
|
|
|
265,630 |
|
| as a % of revenues |
|
|
5.0% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4.9% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Operating Income |
|
|
1,031,170 |
|
|
70,199 |
|
|
|
– |
|
|
|
– |
|
|
|
1,101,369 |
|
| as a % of revenues |
|
|
19.0% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
20.3% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income taxes |
|
|
312,571 |
|
|
19,941 |
|
|
|
11,265 |
|
|
|
(69,638 |
) |
|
|
274,139 |
|
| effective tax rate |
|
|
31.1% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
25.5% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income from continuing operations |
|
|
692,283 |
|
|
50,258 |
|
|
|
(11,265 |
) |
|
|
69,638 |
|
|
|
800,914 |
|
| as a % of revenues |
|
|
12.8% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
14.8% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Diluted earnings per share |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income from continuing operations (4) |
|
$ |
2.66 |
|
$ |
0.19 |
|
|
$ |
(0.04 |
) |
|
$ |
0.27 |
|
|
$ |
3.07 |
|
| Income from discontinued operations |
|
$ |
0.11 |
|
$ |
– |
|
|
$ |
– |
|
|
$ |
– |
|
|
$ |
0.11 |
|
| Diluted earnings per share |
|
$ |
2.77 |
|
$ |
0.19 |
|
|
$ |
(0.04 |
) |
|
$ |
0.27 |
|
|
$ |
3.19 |
|
| (1) |
Relates to the first quarter adoption of SFAS No. 123 (revised), “Share-Based Payment”. Fiscal 2004 amounts have not been restated. |
| (2) |
Relates to the reversal of tax reserves in connection with the conclusion of tax examinations in four non-U.S. jurisdictions that occurred in the first quarter. |
| (3) |
Relates substantially to the planned repatriation of $1.3 billion of foreign earnings under the provisions of the American Jobs Creation Act. |
| (4) |
Total per share amounts may not add due to rounding. |
|
|
|
2004 |
|||||||||||
|
|
|
As |
|
BGM |
|
Litigation |
|
Excluding |
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Gross Profit |
|
$ |
2,434,383 |
|
$ |
45,024 |
|
$ |
– |
|
$ |
2,479,407 |
|
| as a % of revenues |
|
|
49.3% |
|
|
|
|
|
|
|
|
50.2% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Operating Income |
|
|
787,267 |
|
|
45,024 |
|
|
100,000 |
|
|
932,291 |
|
| as a % of revenues |
|
|
16.0% |
|
|
|
|
|
|
|
|
18.9% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income from continuing operations |
|
|
582,504 |
|
|
27,915 |
|
|
63,000 |
|
|
673,419 |
|
| as a % of revenues |
|
|
11.8% |
|
|
|
|
|
|
|
|
13.6% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Diluted earnings per share |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income from continuing operations |
|
$ |
2.21 |
|
$ |
0.11 |
|
$ |
0.24 |
|
$ |
2.56 |
|
| Loss from discontinued operations |
|
$ |
(0.44 |
) |
$ |
– |
|
$ |
– |
|
$ |
(0.44 |
) |
| Diluted earnings per share |
|
$ |
1.77 |
|
$ |
0.11 |
|
$ |
0.24 |
|
$ |
2.12 |
|
| (5) |
Relates to the fiscal 2004 charge associated with blood glucose monitoring (BGM) products. |
| (6) |
Relates to the fiscal 2004 charge associated with a litigation settlement. |
Page 4
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY SEGMENT AND GEOGRAPHIC AREA
(Unaudited; Amounts in thousands)
|
|
|
Three Months Ended September 30, |
|||||||
|
|
|
2005 |
|
2004 |
|
% Change |
|
||
|
|
|
|
|
|
|
|
|
|
|
| BD MEDICAL |
|
|
|
|
|
|
|
|
|
| United States |
|
$ |
368,752 |
|
$ |
334,189 |
|
10.3 |
|
|
International |
|
|
393,631 |
|
|
353,822 |
|
11.3 |
|
| TOTAL |
|
$ |
762,383 |
|
$ |
688,011 |
|
10.8 |
|
|
|
|
|
|
|
|
|
|
|
|
| BD DIAGNOSTICS |
|
|
|
|
|
|
|
|
|
| United States |
|
$ |
218,768 |
|
$ |
207,979 |
|
5.2 |
|
|
International |
|
|
184,001 |
|
|
165,645 |
|
11.1 |
|
| TOTAL |
|
$ |
402,769 |
|
$ |
373,624 |
|
7.8 |
|
|
|
|
|
|
|
|
|
|
|
|
| BD BIOSCIENCES |
|
|
|
|
|
|
|
|
|
| United States |
|
$ |
99,623 |
|
$ |
89,157 |
|
11.7 |
|
|
International |
|
|
114,701 |
|
|
102,486 |
|
11.9 |
|
| TOTAL |
|
$ |
214,324 |
|
$ |
191,643 |
|
11.8 |
|
|
|
|
|
|
|
|
|
|
|
|
| TOTAL REVENUES |
|
|
|
|
|
|
|
|
|
| United States |
|
$ |
687,143 |
|
$ |
631,325 |
|
8.8 |
|
|
International |
|
|
692,333 |
|
|
621,953 |
|
11.3 |
|
| TOTAL |
|
$ |
1,379,476 |
|
$ |
1,253,278 |
|
10.1 |
|
Page 5
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY SEGMENT AND GEOGRAPHIC AREA
(Unaudited; Amounts in thousands)
|
|
|
Twelve Months Ended September 30, |
|||||||
|
|
|
2005 |
|
2004 |
|
% Change |
|
||
|
|
|
|
|
|
|
|
|
|
|
| BD MEDICAL |
|
|
|
|
|
|
|
|
|
| United States |
|
$ |
1,366,688 |
|
$ |
1,274,936 |
|
7.2 |
|
|
International |
|
|
1,591,400 |
|
|
1,405,229 |
|
13.2 |
|
| TOTAL |
|
$ |
2,958,088 |
|
$ |
2,680,165 |
|
10.4 |
|
|
|
|
|
|
|
|
|
|
|
|
| BD DIAGNOSTICS |
|
|
|
|
|
|
|
|
|
| United States |
|
$ |
869,187 |
|
$ |
839,157 |
|
3.6 |
|
|
International |
|
|
787,877 |
|
|
692,482 |
|
13.8 |
|
| TOTAL |
|
$ |
1,657,064 |
|
$ |
1,531,639 |
|
8.2 |
|
|
|
|
|
|
|
|
|
|
|
|
| BD BIOSCIENCES |
|
|
|
|
|
|
|
|
|
| United States |
|
$ |
355,076 |
|
$ |
321,796 |
|
10.3 |
|
|
International |
|
|
444,453 |
|
|
401,145 |
|
10.8 |
|
| TOTAL |
|
$ |
799,529 |
|
$ |
722,941 |
|
10.6 |
|
|
|
|
|
|
|
|
|
|
|
|
| TOTAL REVENUES |
|
|
|
|
|
|
|
|
|
| United States |
|
$ |
2,590,951 |
|
$ |
2,435,889 |
|
6.4 |
|
|
International |
|
|
2,823,730 |
|
|
2,498,856 |
|
13.0 |
|
| TOTAL |
|
$ |
5,414,681 |
|
$ |
4,934,745 |
|
9.7 |
|
Page 6
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Three Months Ended September 30,
(Unaudited; Amounts in thousands)
|
|
|
United States |
|
||||||
|
|
|
2005 |
|
2004 |
|
% Change |
|
||
|
|
|
|
|
|
|
|
|
|
|
| BD MEDICAL |
|
|
|
|
|
|
|
|
|
| Medical Surgical Systems |
|
$ |
224,809 |
|
$ |
208,185 |
|
8.0 |
|
| Diabetes Care |
|
|
111,160 |
|
|
91,397 |
|
21.6 |
|
| Pharmaceutical Systems |
|
|
27,273 |
|
|
29,014 |
|
(6.0 |
) |
|
Ophthalmic Systems |
|
|
5,510 |
|
|
5,593 |
|
(1.5 |
) |
| TOTAL |
|
$ |
368,752 |
|
$ |
334,189 |
|
10.3 |
|
|
|
|
|
|
|
|
|
|
|
|
| BD DIAGNOSTICS |
|
|
|
|
|
|
|
|
|
| Preanalytical Systems |
|
$ |
120,843 |
|
$ |
117,624 |
|
2.7 |
|
|
Diagnostic Systems |
|
|
97,925 |
|
|
90,355 |
|
8.4 |
|
| TOTAL |
|
$ |
218,768 |
|
$ |
207,979 |
|
5.2 |
|
|
|
|
|
|
|
|
|
|
|
|
| BD BIOSCIENCES |
|
|
|
|
|
|
|
|
|
| Discovery Labware |
|
$ |
30,262 |
|
$ |
26,588 |
|
13.8 |
|
| Immunocytometry Systems |
|
|
50,242 |
|
|
43,973 |
|
14.3 |
|
| Pharmingen |
|
|
19,119 |
|
|
18,596 |
|
2.8 |
|
|
TOTAL |
|
$ |
99,623 |
|
$ |
89,157 |
|
11.7 |
|
|
|
|
|
|
|
|
|
|
|
|
| TOTAL UNITED STATES |
|
$ |
687,143 |
|
$ |
631,325 |
|
8.8 |
|
Page 7
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Three Months Ended September 30, (continued)
(Unaudited; Amounts in thousands)
|
|
|
International |
|
||||||||||
|
|
|
|
|
|
|
|
|
% Change |
|
|
|
||
|
|
|
2005 |
|
2004 |
|
Reported |
|
FX Neutral |
|
FX Impact |
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| BD MEDICAL |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Medical Surgical Systems |
|
$ |
203,991 |
|
$ |
184,984 |
|
10.3 |
|
4.5 |
|
5.8 |
|
| Diabetes Care |
|
|
70,671 |
|
|
63,707 |
|
10.9 |
|
6.7 |
|
4.2 |
|
| Pharmaceutical Systems |
|
|
109,505 |
|
|
96,621 |
|
13.3 |
|
11.7 |
|
1.6 |
|
|
Ophthalmic Systems |
|
|
9,464 |
|
|
8,510 |
|
11.2 |
|
9.9 |
|
1.3 |
|
| TOTAL |
|
$ |
393,631 |
|
$ |
353,822 |
|
11.3 |
|
7.0 |
|
4.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| BD DIAGNOSTICS |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Preanalytical Systems |
|
$ |
97,806 |
|
$ |
87,504 |
|
11.8 |
|
8.2 |
|
3.6 |
|
|
Diagnostic Systems |
|
|
86,195 |
|
|
78,141 |
|
10.3 |
|
7.6 |
|
2.7 |
|
| TOTAL |
|
$ |
184,001 |
|
$ |
165,645 |
|
11.1 |
|
7.9 |
|
3.2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| BD BIOSCIENCES |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Discovery Labware |
|
$ |
23,835 |
|
$ |
22,366 |
|
6.6 |
|
4.4 |
|
2.2 |
|
| Immunocytometry Systems |
|
|
77,428 |
|
|
65,631 |
|
18.0 |
|
16.4 |
|
1.6 |
|
| Pharmingen |
|
|
13,438 |
|
|
14,489 |
|
(7.3 |
) |
(7.6 |
) |
0.3 |
|
|
TOTAL |
|
$ |
114,701 |
|
$ |
102,486 |
|
11.9 |
|
10.4 |
|
1.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| TOTAL INTERNATIONAL |
|
$ |
692,333 |
|
$ |
621,953 |
|
11.3 |
|
7.8 |
|
3.5 |
|
Page 8
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Three Months Ended September 30, (continued)
(Unaudited; Amounts in thousands)
|
|
|
Total |
|
||||||||||
|
|
|
|
|
|
|
% Change |
|
||||||
|
|
|
2005 |
|
2004 |
|
Reported |
|
FX Neutral |
|
FX Impact |
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| BD MEDICAL |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Medical Surgical Systems |
|
$ |
428,800 |
|
$ |
393,169 |
|
9.1 |
|
6.3 |
|
2.8 |
|
| Diabetes Care |
|
|
181,831 |
|
|
155,104 |
|
17.2 |
|
15.5 |
|
1.7 |
|
| Pharmaceutical Systems |
|
|
136,778 |
|
|
125,635 |
|
8.9 |
|
7.6 |
|
1.3 |
|
|
Ophthalmic Systems |
|
|
14,974 |
|
|
14,103 |
|
6.2 |
|
5.4 |
|
0.8 |
|
| TOTAL |
|
$ |
762,383 |
|
$ |
688,011 |
|
10.8 |
|
8.6 |
|
2.2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| BD DIAGNOSTICS |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Preanalytical Systems |
|
$ |
218,649 |
|
$ |
205,128 |
|
6.6 |
|
5.1 |
|
1.5 |
|
|
Diagnostic Systems |
|
|
184,120 |
|
|
168,496 |
|
9.3 |
|
8.0 |
|
1.3 |
|
| TOTAL |
|
$ |
402,769 |
|
$ |
373,624 |
|
7.8 |
|
6.4 |
|
1.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| BD BIOSCIENCES |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Discovery Labware |
|
$ |
54,097 |
|
$ |
48,954 |
|
10.5 |
|
9.5 |
|
1.0 |
|
| Immunocytometry Systems |
|
|
127,670 |
|
|
109,604 |
|
16.5 |
|
15.6 |
|
0.9 |
|
| Pharmingen |
|
|
32,557 |
|
|
33,085 |
|
(1.6 |
) |
(1.8 |
) |
0.2 |
|
|
TOTAL |
|
$ |
214,324 |
|
$ |
191,643 |
|
11.8 |
|
11.0 |
|
0.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| TOTAL REVENUES |
|
$ |
1,379,476 |
|
$ |
1,253,278 |
|
10.1 |
|
8.3 |
|
1.8 |
|
Page 9
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Twelve Months Ended September 30,
(Unaudited; Amounts in thousands)
|
|
|
United States |
|
||||||
|
|
|
2005 |
|
2004 |
|
% Change |
|
||
|
|
|
|
|
|
|
|
|
|
|
| BD MEDICAL |
|
|
|
|
|
|
|
|
|
| Medical Surgical Systems |
|
$ |
852,804 |
|
$ |
803,529 |
|
6.1 |
|
| Diabetes Care |
|
|
391,109 |
|
|
340,669 |
|
14.8 |
|
| Pharmaceutical Systems |
|
|
101,128 |
|
|
108,027 |
|
(6.4 |
) |
|
Ophthalmic Systems |
|
|
21,647 |
|
|
22,711 |
|
(4.7 |
) |
| TOTAL |
|
$ |
1,366,688 |
|
$ |
1,274,936 |
|
7.2 |
|
|
|
|
|
|
|
|
|
|
|
|
| BD DIAGNOSTICS |
|
|
|
|
|
|
|
|
|
| Preanalytical Systems |
|
$ |
462,939 |
|
$ |
447,020 |
|
3.6 |
|
|
Diagnostic Systems |
|
|
406,248 |
|
|
392,137 |
|
3.6 |
|
| TOTAL |
|
$ |
869,187 |
|
$ |
839,157 |
|
3.6 |
|
|
|
|
|
|
|
|
|
|
|
|
| BD BIOSCIENCES |
|
|
|
|
|
|
|
|
|
| Discovery Labware |
|
$ |
110,419 |
|
$ |
100,821 |
|
9.5 |
|
| Immunocytometry Systems |
|
|
169,895 |
|
|
148,741 |
|
14.2 |
|
| Pharmingen |
|
|
74,762 |
|
|
72,234 |
|
3.5 |
|
|
TOTAL |
|
$ |
355,076 |
|
$ |
321,796 |
|
10.3 |
|
|
|
|
|
|
|
|
|
|
|
|
| TOTAL UNITED STATES |
|
$ |
2,590,951 |
|
$ |
2,435,889 |
|
6.4 |
|
Page 10
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Twelve Months Ended September 30, (continued)
(Unaudited; Amounts in thousands)
|
|
|
International |
|||||||||||
|
|
|
|
|
|
|
|
|
% Change |
|
|
|
||
|
|
|
2005 |
|
2004 |
|
Reported |
|
FX Neutral |
|
FX Impact |
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| BD MEDICAL |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Medical Surgical Systems |
|
$ |
808,346 |
|
$ |
737,194 |
|
9.7 |
|
4.1 |
|
5.6 |
|
| Diabetes Care |
|
|
282,911 |
|
|
245,521 |
|
15.2 |
|
9.4 |
|
5.8 |
|
| Pharmaceutical Systems |
|
|
462,143 |
|
|
389,394 |
|
18.7 |
|
13.1 |
|
5.6 |
|
|
Ophthalmic Systems |
|
|
38,000 |
|
|
33,120 |
|
14.7 |
|
9.7 |
|
5.0 |
|
| TOTAL |
|
$ |
1,591,400 |
|
$ |
1,405,229 |
|
13.2 |
|
7.7 |
|
5.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| BD DIAGNOSTICS |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Preanalytical Systems |
|
$ |
391,892 |
|
$ |
340,976 |
|
14.9 |
|
9.3 |
|
5.6 |
|
|
Diagnostic Systems |
|
|
395,985 |
|
|
351,506 |
|
12.7 |
|
7.7 |
|
5.0 |
|
| TOTAL |
|
$ |
787,877 |
|
$ |
692,482 |
|
13.8 |
|
8.5 |
|
5.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| BD BIOSCIENCES |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Discovery Labware |
|
$ |
96,142 |
|
$ |
89,319 |
|
7.6 |
|
2.8 |
|
4.8 |
|
| Immunocytometry Systems |
|
|
282,488 |
|
|
248,410 |
|
13.7 |
|
9.3 |
|
4.4 |
|
| Pharmingen |
|
|
65,823 |
|
|
63,416 |
|
3.8 |
|
0.2 |
|
3.6 |
|
|
TOTAL |
|
$ |
444,453 |
|
$ |
401,145 |
|
10.8 |
|
6.4 |
|
4.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| TOTAL INTERNATIONAL |
|
$ |
2,823,730 |
|
$ |
2,498,856 |
|
13.0 |
|
7.7 |
|
5.3 |
|
Page 11
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Twelve Months Ended September 30, (continued)
(Unaudited; Amounts in thousands)
|
|
|
Total |
|||||||||||
|
|
|
|
|
|
|
|
|
% Change |
|
|
|
||
|
|
|
2005 |
|
2004 |
|
Reported |
|
FX Neutral |
|
FX Impact |
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| BD MEDICAL |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Medical Surgical Systems |
|
$ |
1,661,150 |
|
$ |
1,540,723 |
|
7.8 |
|
5.2 |
|
2.6 |
|
| Diabetes Care |
|
|
674,020 |
|
|
586,190 |
|
15.0 |
|
12.5 |
|
2.5 |
|
| Pharmaceutical Systems |
|
|
563,271 |
|
|
497,421 |
|
13.2 |
|
8.8 |
|
4.4 |
|
|
Ophthalmic Systems |
|
|
59,647 |
|
|
55,831 |
|
6.8 |
|
3.9 |
|
2.9 |
|
| TOTAL |
|
$ |
2,958,088 |
|
$ |
2,680,165 |
|
10.4 |
|
7.4 |
|
3.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| BD DIAGNOSTICS |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Preanalytical Systems |
|
$ |
854,831 |
|
$ |
787,996 |
|
8.5 |
|
6.1 |
|
2.4 |
|
|
Diagnostic Systems |
|
|
802,233 |
|
|
743,643 |
|
7.9 |
|
5.5 |
|
2.4 |
|
| TOTAL |
|
$ |
1,657,064 |
|
$ |
1,531,639 |
|
8.2 |
|
5.8 |
|
2.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| BD BIOSCIENCES |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Discovery Labware |
|
$ |
206,561 |
|
$ |
190,140 |
|
8.6 |
|
6.4 |
|
2.2 |
|
| Immunocytometry Systems |
|
|
452,383 |
|
|
397,151 |
|
13.9 |
|
11.1 |
|
2.8 |
|
| Pharmingen |
|
|
140,585 |
|
|
135,650 |
|
3.6 |
|
2.0 |
|
1.6 |
|
|
TOTAL |
|
$ |
799,529 |
|
$ |
722,941 |
|
10.6 |
|
8.1 |
|
2.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| TOTAL REVENUES |
|
$ |
5,414,681 |
|
$ |
4,934,745 |
|
9.7 |
|
7.0 |
|
2.7 |
|
Page 12