| Reports earnings per share from continuing operations of $1.24, or $1.27 after excluding specified item | ||
| Reaffirms guidance for full-year fiscal 2010 earnings per share from continuing operations, excluding specified items |
Three Months Ended March 31, | ||||||||||||
2010 | 2009 | % Change | ||||||||||
REVENUES |
$ | 1,844,854 | $ | 1,724,967 | 7.0 | |||||||
Cost of products sold |
886,895 | 829,350 | 6.9 | |||||||||
Selling and administrative |
426,346 | 436,359 | (2.3 | ) | ||||||||
Research and development |
101,118 | 98,588 | 2.6 | |||||||||
TOTAL OPERATING COSTS
AND EXPENSES |
1,414,359 | 1,364,297 | 3.7 | |||||||||
OPERATING INCOME |
430,495 | 360,670 | 19.4 | |||||||||
Interest income |
9,652 | 4,312 | NM | |||||||||
Interest expense |
(12,913 | ) | (7,495 | ) | 72.3 | |||||||
Other income (expense), net |
164 | (5,701 | ) | NM | ||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE
INCOME TAXES |
427,398 | 351,786 | 21.5 | |||||||||
Income tax provision |
129,673 | 92,612 | 40.0 | |||||||||
INCOME FROM CONTINUING OPERATIONS |
297,725 | 259,174 | 14.9 | |||||||||
(LOSS) INCOME FROM DISCONTINUED OPERATIONS
NET OF INCOME TAX (BENEFIT) PROVISION OF
$(54) AND $611, RESPECTIVELY |
(94 | ) | 2,115 | NM | ||||||||
NET INCOME |
$ | 297,631 | $ | 261,289 | 13.9 | |||||||
EARNINGS PER SHARE |
||||||||||||
Basic: |
||||||||||||
Income from continuing operations |
$ | 1.27 | $ | 1.08 | 17.6 | |||||||
(Loss) income from discontinued operations |
$ | | $ | 0.01 | NM | |||||||
Net income (1) |
$ | 1.26 | $ | 1.09 | 15.6 | |||||||
Diluted: |
||||||||||||
Income from continuing operations |
$ | 1.24 | $ | 1.05 | 18.1 | |||||||
(Loss) income from discontinued operations |
$ | | $ | 0.01 | NM | |||||||
Net income |
$ | 1.24 | $ | 1.06 | 17.0 | |||||||
AVERAGE SHARES OUTSTANDING |
||||||||||||
Basic |
235,325 | 240,239 | ||||||||||
Diluted |
240,863 | 245,890 | ||||||||||
Page 1
Six Months Ended March 31, | ||||||||||||
2010 | 2009 | % Change | ||||||||||
REVENUES |
$ | 3,761,628 | $ | 3,442,886 | 9.3 | |||||||
Cost of products sold |
1,806,437 | 1,625,624 | 11.1 | |||||||||
Selling and administrative |
877,275 | 842,378 | 4.1 | |||||||||
Research and development |
201,402 | 195,902 | 2.8 | |||||||||
TOTAL OPERATING COSTS
AND EXPENSES |
2,885,114 | 2,663,904 | 8.3 | |||||||||
OPERATING INCOME |
876,514 | 778,982 | 12.5 | |||||||||
Interest income |
18,441 | 5,963 | NM | |||||||||
Interest expense |
(25,900 | ) | (15,319 | ) | 69.1 | |||||||
Other (expense) income, net |
(2,189 | ) | 3,710 | NM | ||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE
INCOME TAXES |
866,866 | 773,336 | 12.1 | |||||||||
Income tax provision |
253,163 | 204,743 | 23.6 | |||||||||
INCOME FROM CONTINUING OPERATIONS |
613,703 | 568,593 | 7.9 | |||||||||
INCOME FROM DISCONTINUED OPERATIONS
NET OF INCOME TAX PROVISION OF
$99 AND $1,465, RESPECTIVELY |
304 | 4,764 | NM | |||||||||
NET INCOME |
$ | 614,007 | $ | 573,357 | 7.1 | |||||||
EARNINGS PER SHARE |
||||||||||||
Basic: |
||||||||||||
Income from continuing operations |
$ | 2.60 | $ | 2.36 | 10.2 | |||||||
Income from discontinued operations |
$ | | $ | 0.02 | NM | |||||||
Net income |
$ | 2.60 | $ | 2.38 | 9.2 | |||||||
Diluted: |
||||||||||||
Income from continuing operations |
$ | 2.53 | $ | 2.30 | 10.0 | |||||||
Income from discontinued operations |
$ | | $ | 0.02 | NM | |||||||
Net income |
$ | 2.53 | $ | 2.32 | 9.1 | |||||||
AVERAGE SHARES OUTSTANDING |
||||||||||||
Basic |
236,353 | 241,330 | ||||||||||
Diluted |
242,327 | 247,436 | ||||||||||
Page 2
Three Months Ended March 31, | ||||||||||||
2010 | 2009 | % Change | ||||||||||
BD MEDICAL |
||||||||||||
United States |
$ | 400,241 | $ | 375,003 | 6.7 | |||||||
International |
566,837 | 506,484 | 11.9 | |||||||||
TOTAL |
$ | 967,078 | $ | 881,487 | 9.7 | |||||||
BD DIAGNOSTICS |
||||||||||||
United States |
$ | 292,841 | $ | 285,113 | 2.7 | |||||||
International |
262,831 | 254,527 | 3.3 | |||||||||
TOTAL |
$ | 555,672 | $ | 539,640 | 3.0 | |||||||
BD BIOSCIENCES |
||||||||||||
United States |
$ | 117,151 | $ | 104,039 | 12.6 | |||||||
International |
204,953 | 199,801 | 2.6 | |||||||||
TOTAL |
$ | 322,104 | $ | 303,840 | 6.0 | |||||||
TOTAL REVENUES |
||||||||||||
United States |
$ | 810,233 | $ | 764,155 | 6.0 | |||||||
International |
1,034,621 | 960,812 | 7.7 | |||||||||
TOTAL |
$ | 1,844,854 | $ | 1,724,967 | 7.0 | |||||||
Page 3
Six Months Ended March 31, | ||||||||||||
2010 | 2009 | % Change | ||||||||||
BD MEDICAL |
||||||||||||
United States |
$ | 852,627 | $ | 769,165 | 10.9 | |||||||
International |
1,133,077 | 987,512 | 14.7 | |||||||||
TOTAL |
$ | 1,985,704 | $ | 1,756,677 | 13.0 | |||||||
BD DIAGNOSTICS |
||||||||||||
United States |
$ | 603,045 | $ | 572,681 | 5.3 | |||||||
International |
548,102 | 507,150 | 8.1 | |||||||||
TOTAL |
$ | 1,151,147 | $ | 1,079,831 | 6.6 | |||||||
BD BIOSCIENCES |
||||||||||||
United States |
$ | 227,787 | $ | 217,790 | 4.6 | |||||||
International |
396,990 | 388,588 | 2.2 | |||||||||
TOTAL |
$ | 624,777 | $ | 606,378 | 3.0 | |||||||
TOTAL REVENUES |
||||||||||||
United States |
$ | 1,683,459 | $ | 1,559,636 | 7.9 | |||||||
International |
2,078,169 | 1,883,250 | 10.4 | |||||||||
TOTAL |
$ | 3,761,628 | $ | 3,442,886 | 9.3 | |||||||
Page 4
United States | ||||||||||||
2010 | 2009 | % Change | ||||||||||
BD MEDICAL |
||||||||||||
Medical Surgical Systems |
$ | 248,601 | $ | 242,350 | 2.6 | |||||||
Diabetes Care |
92,515 | 83,233 | 11.2 | |||||||||
Pharmaceutical Systems |
52,078 | 43,065 | 20.9 | |||||||||
Ophthalmic Systems |
7,047 | 6,355 | 10.9 | |||||||||
TOTAL |
$ | 400,241 | $ | 375,003 | 6.7 | |||||||
BD DIAGNOSTICS |
||||||||||||
Preanalytical Systems |
$ | 149,932 | $ | 147,436 | 1.7 | |||||||
Diagnostic Systems |
142,909 | 137,677 | 3.8 | |||||||||
TOTAL |
$ | 292,841 | $ | 285,113 | 2.7 | |||||||
BD BIOSCIENCES |
||||||||||||
Cell Analysis |
$ | 78,183 | $ | 71,770 | 8.9 | |||||||
Discovery Labware |
38,968 | 32,269 | 20.8 | |||||||||
TOTAL |
$ | 117,151 | $ | 104,039 | 12.6 | |||||||
TOTAL UNITED STATES |
$ | 810,233 | $ | 764,155 | 6.0 | |||||||
Page 5
International | ||||||||||||||||||||
% Change | ||||||||||||||||||||
2010 | 2009 | Reported | FXN | FX Impact | ||||||||||||||||
BD MEDICAL |
||||||||||||||||||||
Medical Surgical Systems |
$ | 257,488 | $ | 230,233 | 11.8 | 6.6 | 5.2 | |||||||||||||
Diabetes Care |
95,471 | 85,159 | 12.1 | 9.3 | 2.8 | |||||||||||||||
Pharmaceutical Systems |
200,305 | 178,085 | 12.5 | 11.1 | 1.4 | |||||||||||||||
Ophthalmic Systems |
13,573 | 13,007 | 4.4 | 5.9 | (1.5 | ) | ||||||||||||||
TOTAL |
$ | 566,837 | $ | 506,484 | 11.9 | 8.6 | 3.3 | |||||||||||||
BD DIAGNOSTICS |
||||||||||||||||||||
Preanalytical Systems |
$ | 137,738 | $ | 131,029 | 5.1 | 3.1 | 2.0 | |||||||||||||
Diagnostic Systems |
125,093 | 123,498 | 1.3 | 2.4 | (1.1 | ) | ||||||||||||||
TOTAL |
$ | 262,831 | $ | 254,527 | 3.3 | 2.8 | 0.5 | |||||||||||||
BD BIOSCIENCES |
||||||||||||||||||||
Cell Analysis |
$ | 164,292 | $ | 159,223 | 3.2 | 9.1 | (5.9 | ) | ||||||||||||
Discovery Labware |
40,661 | 40,578 | 0.2 | 5.8 | (5.6 | ) | ||||||||||||||
TOTAL |
$ | 204,953 | $ | 199,801 | 2.6 | 8.4 | (5.8 | ) | ||||||||||||
TOTAL INTERNATIONAL |
$ | 1,034,621 | $ | 960,812 | 7.7 | 7.0 | 0.7 | |||||||||||||
Page 6
Total | ||||||||||||||||||||
% Change | ||||||||||||||||||||
2010 | 2009 | Reported | FXN | FX Impact | ||||||||||||||||
BD MEDICAL |
||||||||||||||||||||
Medical Surgical Systems |
$ | 506,089 | $ | 472,583 | 7.1 | 4.6 | 2.5 | |||||||||||||
Diabetes Care |
187,986 | 168,392 | 11.6 | 10.2 | 1.4 | |||||||||||||||
Pharmaceutical Systems |
252,383 | 221,150 | 14.1 | 13.0 | 1.1 | |||||||||||||||
Ophthalmic Systems |
20,620 | 19,362 | 6.5 | 7.5 | (1.0 | ) | ||||||||||||||
TOTAL |
$ | 967,078 | $ | 881,487 | 9.7 | 7.8 | 1.9 | |||||||||||||
BD DIAGNOSTICS |
||||||||||||||||||||
Preanalytical Systems |
$ | 287,670 | $ | 278,465 | 3.3 | 2.4 | 0.9 | |||||||||||||
Diagnostic Systems |
268,002 | 261,175 | 2.6 | 3.1 | (0.5 | ) | ||||||||||||||
TOTAL |
$ | 555,672 | $ | 539,640 | 3.0 | 2.7 | 0.3 | |||||||||||||
BD BIOSCIENCES |
||||||||||||||||||||
Cell Analysis |
$ | 242,475 | $ | 230,993 | 5.0 | 9.0 | (4.0 | ) | ||||||||||||
Discovery Labware |
79,629 | 72,847 | 9.3 | 12.4 | (3.1 | ) | ||||||||||||||
TOTAL |
$ | 322,104 | $ | 303,840 | 6.0 | 9.8 | (3.8 | ) | ||||||||||||
TOTAL REVENUES |
$ | 1,844,854 | $ | 1,724,967 | 7.0 | 6.6 | 0.4 | |||||||||||||
Page 7
United States | ||||||||||||
2010 | 2009 | % Change | ||||||||||
BD MEDICAL |
||||||||||||
Medical Surgical Systems |
$ | 535,136 | $ | 498,605 | 7.3 | |||||||
Diabetes Care |
189,079 | 171,699 | 10.1 | |||||||||
Pharmaceutical Systems |
114,099 | 85,717 | 33.1 | |||||||||
Ophthalmic Systems |
14,313 | 13,144 | 8.9 | |||||||||
TOTAL |
$ | 852,627 | $ | 769,165 | 10.9 | |||||||
BD DIAGNOSTICS |
||||||||||||
Preanalytical Systems |
$ | 306,167 | $ | 296,666 | 3.2 | |||||||
Diagnostic Systems |
296,878 | 276,015 | 7.6 | |||||||||
TOTAL |
$ | 603,045 | $ | 572,681 | 5.3 | |||||||
BD BIOSCIENCES |
||||||||||||
Cell Analysis |
$ | 155,787 | $ | 149,150 | 4.4 | |||||||
Discovery Labware |
72,000 | 68,640 | 4.9 | |||||||||
TOTAL |
$ | 227,787 | $ | 217,790 | 4.6 | |||||||
TOTAL UNITED STATES |
$ | 1,683,459 | $ | 1,559,636 | 7.9 | |||||||
Page 8
International | ||||||||||||||||||||
% Change | ||||||||||||||||||||
2010 | 2009 | Reported | FX Neutral | FX Impact | ||||||||||||||||
BD MEDICAL |
||||||||||||||||||||
Medical Surgical Systems |
$ | 530,976 | $ | 454,480 | 16.8 | 10.9 | 5.9 | |||||||||||||
Diabetes Care |
200,428 | 176,699 | 13.4 | 8.5 | 4.9 | |||||||||||||||
Pharmaceutical Systems |
374,258 | 330,214 | 13.3 | 9.3 | 4.0 | |||||||||||||||
Ophthalmic Systems |
27,415 | 26,119 | 5.0 | 4.3 | 0.7 | |||||||||||||||
TOTAL |
$ | 1,133,077 | $ | 987,512 | 14.7 | 9.8 | 4.9 | |||||||||||||
BD DIAGNOSTICS |
||||||||||||||||||||
Preanalytical Systems |
$ | 281,670 | $ | 259,953 | 8.4 | 4.9 | 3.5 | |||||||||||||
Diagnostic Systems |
266,432 | 247,197 | 7.8 | 6.2 | 1.6 | |||||||||||||||
TOTAL |
$ | 548,102 | $ | 507,150 | 8.1 | 5.5 | 2.6 | |||||||||||||
BD BIOSCIENCES |
||||||||||||||||||||
Cell Analysis |
$ | 318,025 | $ | 311,364 | 2.1 | 5.6 | (3.5 | ) | ||||||||||||
Discovery Labware |
78,965 | 77,224 | 2.3 | 5.4 | (3.1 | ) | ||||||||||||||
TOTAL |
$ | 396,990 | $ | 388,588 | 2.2 | 5.5 | (3.3 | ) | ||||||||||||
TOTAL INTERNATIONAL |
$ | 2,078,169 | $ | 1,883,250 | 10.4 | 7.8 | 2.6 | |||||||||||||
Page 9
Total | ||||||||||||||||||||
% Change | ||||||||||||||||||||
2010 | 2009 | Reported | FX Neutral | FX Impact | ||||||||||||||||
BD MEDICAL |
||||||||||||||||||||
Medical Surgical Systems |
$ | 1,066,112 | $ | 953,085 | 11.9 | 9.0 | 2.9 | |||||||||||||
Diabetes Care |
389,507 | 348,398 | 11.8 | 9.3 | 2.5 | |||||||||||||||
Pharmaceutical Systems |
488,357 | 415,931 | 17.4 | 14.2 | 3.2 | |||||||||||||||
Ophthalmic Systems |
41,728 | 39,263 | 6.3 | 5.9 | 0.4 | |||||||||||||||
TOTAL |
$ | 1,985,704 | $ | 1,756,677 | 13.0 | 10.2 | 2.8 | |||||||||||||
BD DIAGNOSTICS |
||||||||||||||||||||
Preanalytical Systems |
$ | 587,837 | $ | 556,619 | 5.6 | 4.0 | 1.6 | |||||||||||||
Diagnostic Systems |
563,310 | 523,212 | 7.7 | 6.9 | 0.8 | |||||||||||||||
TOTAL |
$ | 1,151,147 | $ | 1,079,831 | 6.6 | 5.4 | 1.2 | |||||||||||||
BD BIOSCIENCES |
||||||||||||||||||||
Cell Analysis |
$ | 473,812 | $ | 460,514 | 2.9 | 5.2 | (2.3 | ) | ||||||||||||
Discovery Labware |
150,965 | 145,864 | 3.5 | 5.1 | (1.6 | ) | ||||||||||||||
TOTAL |
$ | 624,777 | $ | 606,378 | 3.0 | 5.2 | (2.2 | ) | ||||||||||||
TOTAL REVENUES |
$ | 3,761,628 | $ | 3,442,886 | 9.3 | 7.8 | 1.5 | |||||||||||||
Page 10
Three Months Ended March 31, | ||||||||||||||||||||
% Change | ||||||||||||||||||||
2010 | 2009 | Reported | FXN | FX Impact | ||||||||||||||||
TOTAL SAFETY REVENUES |
||||||||||||||||||||
United States |
$ | 268,773 | $ | 255,026 | 5.4 | 5.4 | | |||||||||||||
International |
149,475 | 136,718 | 9.3 | 6.8 | 2.5 | |||||||||||||||
TOTAL |
$ | 418,248 | $ | 391,744 | 6.8 | 5.9 | 0.9 | |||||||||||||
BY SEGMENT |
||||||||||||||||||||
BD Medical |
$ | 200,355 | $ | 183,591 | 9.1 | 8.0 | 1.1 | |||||||||||||
BD Diagnostics |
217,893 | 208,153 | 4.7 | 4.0 | 0.7 | |||||||||||||||
TOTAL |
$ | 418,248 | $ | 391,744 | 6.8 | 5.9 | 0.9 | |||||||||||||
Six Months Ended March 31, | ||||||||||||||||||||
% Change | ||||||||||||||||||||
2010 | 2009 | Reported | FXN | FX Impact | ||||||||||||||||
TOTAL SAFETY REVENUES |
||||||||||||||||||||
United States |
$ | 567,031 | $ | 523,995 | 8.2 | 8.2 | | |||||||||||||
International |
305,489 | 270,798 | 12.8 | 8.6 | 4.2 | |||||||||||||||
TOTAL |
$ | 872,520 | $ | 794,793 | 9.8 | 8.4 | 1.4 | |||||||||||||
BY SEGMENT |
||||||||||||||||||||
BD Medical |
$ | 428,857 | $ | 376,342 | 14.0 | 12.3 | 1.7 | |||||||||||||
BD Diagnostics |
443,663 | 418,451 | 6.0 | 4.8 | 1.2 | |||||||||||||||
TOTAL |
$ | 872,520 | $ | 794,793 | 9.8 | 8.4 | 1.4 | |||||||||||||
Page 11