| Reports diluted earnings per share from continuing operations of $1.24 for the fourth quarter and $4.90 for the full fiscal year, in line with the Companys expectations. | ||
| States that reported earnings reflect the reclassification of the operating results and gain on the sale of the Ophthalmic Systems unit and certain platforms of the Medical Surgical Systems unit as discontinued operations. | ||
| Announces planned stock repurchases of $1.5 billion in 2011 funded by ongoing cash flow and the issuance of debt. | ||
| Expects full fiscal year 2011 diluted earnings per share from continuing operations to be between $5.45 and $5.55, an increase of 11 to 13 percent on an as-reported basis. |
Three Months Ended September 30, | ||||||||||||
2010 | 2009 | % Change | ||||||||||
REVENUES |
$ | 1,873,195 | $ | 1,854,023 | 1.0 | |||||||
Cost of products sold |
900,933 | 890,197 | 1.2 | |||||||||
Selling and administrative |
438,139 | 427,008 | 2.6 | |||||||||
Research and development |
123,606 | 112,890 | 9.5 | |||||||||
TOTAL OPERATING COSTS
AND EXPENSES |
1,462,678 | 1,430,095 | 2.3 | |||||||||
OPERATING INCOME |
410,517 | 423,928 | (3.2 | ) | ||||||||
Interest income |
14,594 | 14,418 | 1.2 | |||||||||
Interest expense |
(12,278 | ) | (13,782 | ) | (10.9 | ) | ||||||
Other income (expense), net |
1,285 | (3,312 | ) | NM | ||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE
INCOME TAXES |
414,118 | 421,252 | (1.7 | ) | ||||||||
Income tax provision |
121,065 | 126,824 | (4.5 | ) | ||||||||
INCOME FROM CONTINUING OPERATIONS |
293,053 | 294,428 | (0.5 | ) | ||||||||
INCOME FROM DISCONTINUED OPERATIONS
NET OF INCOME TAX PROVISION OF
$27,645 AND $7,684, RESPECTIVELY |
103,642 | 22,792 | NM | |||||||||
NET INCOME |
$ | 396,695 | $ | 317,220 | 25.1 | |||||||
EARNINGS PER SHARE |
||||||||||||
Basic: |
||||||||||||
Income from continuing operations |
$ | 1.27 | $ | 1.23 | 3.3 | |||||||
Income from discontinued operations |
$ | 0.45 | $ | 0.10 | NM | |||||||
Net income (1) |
$ | 1.71 | $ | 1.33 | 28.6 | |||||||
Diluted: |
||||||||||||
Income from continuing operations |
$ | 1.24 | $ | 1.20 | 3.3 | |||||||
Income from discontinued operations |
$ | 0.44 | $ | 0.09 | NM | |||||||
Net income |
$ | 1.68 | $ | 1.29 | 30.2 | |||||||
AVERAGE SHARES OUTSTANDING |
||||||||||||
Basic |
231,396 | 239,162 | ||||||||||
Diluted |
236,316 | 245,056 |
NM Not Meaningful | ||
(1) | Total per share amounts may not add due to rounding |
Page 1
Twelve Months Ended September 30, | ||||||||||||
2010 | 2009 | % Change | ||||||||||
REVENUES |
$ | 7,372,333 | $ | 6,986,722 | 5.5 | |||||||
Cost of products sold |
3,543,183 | 3,311,676 | 7.0 | |||||||||
Selling and administrative |
1,721,356 | 1,680,797 | 2.4 | |||||||||
Research and development |
430,997 | 404,567 | 6.5 | |||||||||
TOTAL OPERATING COSTS
AND EXPENSES |
5,695,536 | 5,397,040 | 5.5 | |||||||||
OPERATING INCOME |
1,676,797 | 1,589,682 | 5.5 | |||||||||
Interest income |
35,129 | 33,148 | 6.0 | |||||||||
Interest expense |
(51,263 | ) | (40,389 | ) | 26.9 | |||||||
Other income (expense), net |
497 | (3,850 | ) | NM | ||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE
INCOME TAXES |
1,661,160 | 1,578,591 | 5.2 | |||||||||
Income tax provision |
484,820 | 411,246 | 17.9 | |||||||||
INCOME FROM CONTINUING OPERATIONS |
1,176,340 | 1,167,345 | 0.8 | |||||||||
INCOME FROM DISCONTINUED OPERATIONS
NET OF INCOME TAX PROVISION OF
$40,703 AND $19,975, RESPECTIVELY |
141,270 | 64,258 | NM | |||||||||
NET INCOME |
$ | 1,317,610 | $ | 1,231,603 | 7.0 | |||||||
EARNINGS PER SHARE |
||||||||||||
Basic: |
||||||||||||
Income from continuing operations |
$ | 5.02 | $ | 4.85 | 3.5 | |||||||
Income from discontinued operations |
$ | 0.60 | $ | 0.27 | NM | |||||||
Net income |
$ | 5.62 | $ | 5.12 | 9.8 | |||||||
Diluted: |
||||||||||||
Income from continuing operations |
$ | 4.90 | $ | 4.73 | 3.6 | |||||||
Income from discontinued operations |
$ | 0.59 | $ | 0.26 | NM | |||||||
Net income |
$ | 5.49 | $ | 4.99 | 10.0 | |||||||
AVERAGE SHARES OUTSTANDING |
||||||||||||
Basic |
234,328 | 240,479 | ||||||||||
Diluted |
240,136 | 246,798 |
NM Not Meaningful |
Page 2
Amounts | ||||||||||||
Reclassified | ||||||||||||
Previously | to Discontinued | As | ||||||||||
Reported | Operations | Revised | ||||||||||
Quarter 1 |
||||||||||||
Revenues |
$ | 1,916,774 | $ | 47,956 | $ | 1,868,818 | ||||||
Income from Continuing Operations |
$ | 315,978 | $ | 11,885 | $ | 304,093 | ||||||
Diluted Earnings Per Share from Continuing Operations |
$ | 1.30 | $ | 0.05 | $ | 1.25 | ||||||
Quarter 2 |
||||||||||||
Revenues |
$ | 1,844,854 | $ | 45,445 | $ | 1,799,409 | ||||||
Income from Continuing Operations |
$ | 297,725 | $ | 12,691 | $ | 285,034 | ||||||
Diluted Earnings Per Share from Continuing Operations
(2) |
$ | 1.24 | $ | 0.05 | $ | 1.18 | ||||||
Quarter 3 |
||||||||||||
Revenues |
$ | 1,878,229 | $ | 47,318 | $ | 1,830,911 | ||||||
Income from Continuing Operations |
$ | 306,283 | $ | 12,123 | $ | 294,160 | ||||||
Diluted Earnings Per Share from Continuing Operations (2) |
$ | 1.29 | $ | 0.05 | $ | 1.23 | ||||||
Amounts Reclassified to | ||||||||||||||||||||
Discontinued Operations | From | |||||||||||||||||||
Operations | Gain | Continuing | ||||||||||||||||||
Total | Excluding Gain | on Sale | Total | Operations | ||||||||||||||||
Quarter 4 (1) |
||||||||||||||||||||
Revenues |
$ | 1,899,548 | $ | 26,353 | $ | | $ | 26,353 | $ | 1,873,195 | ||||||||||
Income |
$ | 397,445 | $ | 13,258 | $ | 91,134 | $ | 104,392 | $ | 293,053 | ||||||||||
Diluted
Earnings Per Share (2) |
$ | 1.68 | $ | 0.06 | $ | 0.39 | $ | 0.44 | $ | 1.24 | ||||||||||
Year (1) |
||||||||||||||||||||
Revenues |
$ | 7,539,405 | $ | 167,072 | $ | | $ | 167,072 | $ | 7,372,333 | ||||||||||
Income |
$ | 1,317,431 | $ | 49,957 | $ | 91,134 | $ | 141,091 | $ | 1,176,340 | ||||||||||
Diluted Earnings Per Share |
$ | 5.49 | $ | 0.21 | $ | 0.38 | $ | 0.59 | $ | 4.90 |
Certain quarterly amounts may not add to the year-to-date totals due to rounding. | ||
(1) | The sale of Ophthalmic Systems unit and the surgical blades product platforms was completed on July 30, 2010 and the sale of the critical care product platform was completed on September 30, 2010. | |
(2) | Diluted Earnings Per Share may not add due to rounding. |
Page 3
Amounts | ||||||||||||
Reclassified | ||||||||||||
Previously | to Discontinued | As | ||||||||||
Reported | Operations | Revised | ||||||||||
Fiscal 2009 |
||||||||||||
Revenues |
$ | 7,160,874 | $ | 174,152 | $ | 6,986,722 | ||||||
Income from Continuing Operations |
$ | 1,213,054 | $ | 45,709 | $ | 1,167,345 | ||||||
Diluted Earnings Per Share from Continuing Operations |
$ | 4.92 | $ | 0.19 | $ | 4.73 | ||||||
Fiscal 2008 |
||||||||||||
Revenues |
$ | 7,074,942 | $ | 177,323 | $ | 6,897,619 | ||||||
Income from Continuing Operations |
$ | 1,115,867 | $ | 38,113 | $ | 1,077,754 | ||||||
Diluted Earnings Per Share from Continuing Operations |
$ | 4.42 | $ | 0.15 | $ | 4.27 |
Page 4
Three Months Ended September 30, | ||||||||||||
2010 | 2009 | % Change | ||||||||||
BD MEDICAL |
||||||||||||
United States |
$ | 400,231 | $ | 392,111 | 2.1 | |||||||
International |
558,374 | 569,677 | (2.0 | ) | ||||||||
TOTAL |
$ | 958,605 | $ | 961,788 | (0.3 | ) | ||||||
BD DIAGNOSTICS |
||||||||||||
United States |
$ | 307,721 | $ | 305,488 | 0.7 | |||||||
International |
283,743 | 274,521 | 3.4 | |||||||||
TOTAL |
$ | 591,464 | $ | 580,009 | 2.0 | |||||||
BD BIOSCIENCES |
||||||||||||
United States |
$ | 124,009 | $ | 123,225 | 0.6 | |||||||
International |
199,117 | 189,001 | 5.4 | |||||||||
TOTAL |
$ | 323,126 | $ | 312,226 | 3.5 | |||||||
TOTAL REVENUES |
||||||||||||
United States |
$ | 831,961 | $ | 820,824 | 1.4 | |||||||
International |
1,041,234 | 1,033,199 | 0.8 | |||||||||
TOTAL |
$ | 1,873,195 | $ | 1,854,023 | 1.0 | |||||||
Page 5
Twelve Months Ended September 30, | ||||||||||||
2010 | 2009 | % Change | ||||||||||
BD MEDICAL |
||||||||||||
United States |
$ | 1,596,336 | $ | 1,503,471 | 6.2 | |||||||
International |
2,200,096 | 2,053,223 | 7.2 | |||||||||
TOTAL |
$ | 3,796,432 | $ | 3,556,694 | 6.7 | |||||||
BD DIAGNOSTICS |
||||||||||||
United States |
$ | 1,214,288 | $ | 1,177,543 | 3.1 | |||||||
International |
1,104,591 | 1,048,676 | 5.3 | |||||||||
TOTAL |
$ | 2,318,879 | $ | 2,226,219 | 4.2 | |||||||
BD BIOSCIENCES |
||||||||||||
United States |
$ | 475,941 | $ | 449,151 | 6.0 | |||||||
International |
781,081 | 754,658 | 3.5 | |||||||||
TOTAL |
$ | 1,257,022 | $ | 1,203,809 | 4.4 | |||||||
TOTAL REVENUES |
||||||||||||
United States |
$ | 3,286,565 | $ | 3,130,165 | 5.0 | |||||||
International |
4,085,768 | 3,856,557 | 5.9 | |||||||||
TOTAL |
$ | 7,372,333 | $ | 6,986,722 | 5.5 | |||||||
Page 6
United States | ||||||||||||
2010 | 2009 | % Change | ||||||||||
BD MEDICAL |
||||||||||||
Medical Surgical Systems |
$ | 256,290 | $ | 255,168 | 0.4 | |||||||
Diabetes Care |
98,633 | 88,590 | 11.3 | |||||||||
Pharmaceutical Systems |
45,308 | 48,353 | (6.3 | ) | ||||||||
TOTAL |
$ | 400,231 | $ | 392,111 | 2.1 | |||||||
BD DIAGNOSTICS |
||||||||||||
Preanalytical Systems |
$ | 162,024 | $ | 156,328 | 3.6 | |||||||
Diagnostic Systems |
145,697 | 149,160 | (2.3 | ) | ||||||||
TOTAL |
$ | 307,721 | $ | 305,488 | 0.7 | |||||||
BD BIOSCIENCES |
||||||||||||
Cell Analysis |
$ | 86,765 | $ | 84,179 | 3.1 | |||||||
Discovery Labware |
37,244 | 39,046 | (4.6 | ) | ||||||||
TOTAL |
$ | 124,009 | $ | 123,225 | 0.6 | |||||||
TOTAL UNITED STATES |
$ | 831,961 | $ | 820,824 | 1.4 | |||||||
Page 7
International | ||||||||||||||||||||
% Change | ||||||||||||||||||||
2010 | 2009 | Reported | FXN | FX Impact | ||||||||||||||||
BD MEDICAL |
||||||||||||||||||||
Medical Surgical Systems |
$ | 245,724 | $ | 253,384 | (3.0 | ) | (2.2 | ) | (0.8 | ) | ||||||||||
Diabetes Care |
100,468 | 92,098 | 9.1 | 12.0 | (2.9 | ) | ||||||||||||||
Pharmaceutical Systems |
212,182 | 224,195 | (5.4 | ) | 2.8 | (8.2 | ) | |||||||||||||
TOTAL |
$ | 558,374 | $ | 569,677 | (2.0 | ) | 2.1 | (4.1 | ) | |||||||||||
BD DIAGNOSTICS |
||||||||||||||||||||
Preanalytical Systems |
$ | 144,421 | $ | 138,297 | 4.4 | 7.4 | (3.0 | ) | ||||||||||||
Diagnostic Systems |
139,322 | 136,224 | 2.3 | 4.1 | (1.8 | ) | ||||||||||||||
TOTAL |
$ | 283,743 | $ | 274,521 | 3.4 | 5.7 | (2.3 | ) | ||||||||||||
BD BIOSCIENCES |
||||||||||||||||||||
Cell Analysis |
$ | 160,230 | $ | 150,055 | 6.8 | 10.4 | (3.6 | ) | ||||||||||||
Discovery Labware |
38,887 | 38,946 | (0.2 | ) | 0.8 | (1.0 | ) | |||||||||||||
TOTAL |
$ | 199,117 | $ | 189,001 | 5.4 | 8.4 | (3.0 | ) | ||||||||||||
TOTAL INTERNATIONAL |
$ | 1,041,234 | $ | 1,033,199 | 0.8 | 4.2 | (3.4 | ) | ||||||||||||
Page 8
Total | ||||||||||||||||||||
% Change | ||||||||||||||||||||
2010 | 2009 | Reported | FXN | FX Impact | ||||||||||||||||
BD MEDICAL |
||||||||||||||||||||
Medical Surgical Systems |
$ | 502,014 | $ | 508,552 | (1.3 | ) | (0.9 | ) | (0.4 | ) | ||||||||||
Diabetes Care |
199,101 | 180,688 | 10.2 | 11.7 | (1.5 | ) | ||||||||||||||
Pharmaceutical Systems |
257,490 | 272,548 | (5.5 | ) | 1.2 | (6.7 | ) | |||||||||||||
TOTAL |
$ | 958,605 | $ | 961,788 | (0.3 | ) | 2.1 | (2.4 | ) | |||||||||||
BD DIAGNOSTICS |
||||||||||||||||||||
Preanalytical Systems |
$ | 306,445 | $ | 294,625 | 4.0 | 5.4 | (1.4 | ) | ||||||||||||
Diagnostic Systems |
285,019 | 285,384 | (0.1 | ) | 0.7 | (0.8 | ) | |||||||||||||
TOTAL |
$ | 591,464 | $ | 580,009 | 2.0 | 3.1 | (1.1 | ) | ||||||||||||
BD BIOSCIENCES |
||||||||||||||||||||
Cell Analysis |
$ | 246,995 | $ | 234,234 | 5.4 | 7.8 | (2.4 | ) | ||||||||||||
Discovery Labware |
76,131 | 77,992 | (2.4 | ) | (1.9 | ) | (0.5 | ) | ||||||||||||
TOTAL |
$ | 323,126 | $ | 312,226 | 3.5 | 5.3 | (1.8 | ) | ||||||||||||
TOTAL REVENUES |
$ | 1,873,195 | $ | 1,854,023 | 1.0 | 2.9 | (1.9 | ) | ||||||||||||
Page 9
United States | ||||||||||||
2010 | 2009 | % Change | ||||||||||
BD MEDICAL |
||||||||||||
Medical Surgical Systems |
$ | 1,007,322 | $ | 974,324 | 3.4 | |||||||
Diabetes Care |
383,783 | 351,618 | 9.1 | |||||||||
Pharmaceutical Systems |
205,231 | 177,529 | 15.6 | |||||||||
TOTAL |
$ | 1,596,336 | $ | 1,503,471 | 6.2 | |||||||
BD DIAGNOSTICS |
||||||||||||
Preanalytical Systems |
$ | 627,421 | $ | 608,754 | 3.1 | |||||||
Diagnostic Systems |
586,867 | 568,789 | 3.2 | |||||||||
TOTAL |
$ | 1,214,288 | $ | 1,177,543 | 3.1 | |||||||
BD BIOSCIENCES |
||||||||||||
Cell Analysis |
$ | 326,916 | $ | 303,846 | 7.6 | |||||||
Discovery Labware |
149,025 | 145,305 | 2.6 | |||||||||
TOTAL |
$ | 475,941 | $ | 449,151 | 6.0 | |||||||
TOTAL UNITED STATES |
$ | 3,286,565 | $ | 3,130,165 | 5.0 | |||||||
Page 10
International | ||||||||||||||||||||
% Change | ||||||||||||||||||||
2010 | 2009 | Reported | FXN | FX Impact | ||||||||||||||||
BD MEDICAL |
||||||||||||||||||||
Medical Surgical Systems |
$ | 1,002,687 | $ | 914,990 | 9.6 | 6.6 | 3.0 | |||||||||||||
Diabetes Care |
401,976 | 363,319 | 10.6 | 9.1 | 1.5 | |||||||||||||||
Pharmaceutical Systems |
795,433 | 774,914 | 2.6 | 4.3 | (1.7 | ) | ||||||||||||||
TOTAL |
$ | 2,200,096 | $ | 2,053,223 | 7.2 | 6.2 | 1.0 | |||||||||||||
BD DIAGNOSTICS |
||||||||||||||||||||
Preanalytical Systems |
$ | 570,386 | $ | 534,677 | 6.7 | 5.8 | 0.9 | |||||||||||||
Diagnostic Systems |
534,205 | 513,999 | 3.9 | 3.9 | | |||||||||||||||
TOTAL |
$ | 1,104,591 | $ | 1,048,676 | 5.3 | 4.9 | 0.4 | |||||||||||||
BD BIOSCIENCES |
||||||||||||||||||||
Cell Analysis |
$ | 624,322 | $ | 600,671 | 3.9 | 7.9 | (4.0 | ) | ||||||||||||
Discovery Labware |
156,759 | 153,987 | 1.8 | 4.5 | (2.7 | ) | ||||||||||||||
TOTAL |
$ | 781,081 | $ | 754,658 | 3.5 | 7.2 | (3.7 | ) | ||||||||||||
TOTAL INTERNATIONAL |
$ | 4,085,768 | $ | 3,856,557 | 5.9 | 6.0 | (0.1 | ) | ||||||||||||
Page 11
Total | ||||||||||||||||||||
% Change | ||||||||||||||||||||
2010 | 2009 | Reported | FXN | FX Impact | ||||||||||||||||
BD MEDICAL |
||||||||||||||||||||
Medical Surgical Systems |
$ | 2,010,009 | $ | 1,889,314 | 6.4 | 4.9 | 1.5 | |||||||||||||
Diabetes Care |
785,759 | 714,937 | 9.9 | 9.1 | 0.8 | |||||||||||||||
Pharmaceutical Systems |
1,000,664 | 952,443 | 5.1 | 6.4 | (1.3 | ) | ||||||||||||||
TOTAL |
$ | 3,796,432 | $ | 3,556,694 | 6.7 | 6.2 | 0.5 | |||||||||||||
BD DIAGNOSTICS |
||||||||||||||||||||
Preanalytical Systems |
$ | 1,197,807 | $ | 1,143,431 | 4.8 | 4.4 | 0.4 | |||||||||||||
Diagnostic Systems |
1,121,072 | 1,082,788 | 3.5 | 3.5 | | |||||||||||||||
TOTAL |
$ | 2,318,879 | $ | 2,226,219 | 4.2 | 4.0 | 0.2 | |||||||||||||
BD BIOSCIENCES |
||||||||||||||||||||
Cell Analysis |
$ | 951,238 | $ | 904,517 | 5.2 | 7.8 | (2.6 | ) | ||||||||||||
Discovery Labware |
305,784 | 299,292 | 2.2 | 3.6 | (1.4 | ) | ||||||||||||||
TOTAL |
$ | 1,257,022 | $ | 1,203,809 | 4.4 | 6.8 | (2.4 | ) | ||||||||||||
TOTAL REVENUES |
$ | 7,372,333 | $ | 6,986,722 | 5.5 | 5.6 | (0.1 | ) | ||||||||||||
Page 12
Three Months Ended September 30, | ||||||||||||||||||||
% Change | ||||||||||||||||||||
2010 | 2009 | Reported | FXN | FX Impact | ||||||||||||||||
TOTAL SAFETY REVENUES |
||||||||||||||||||||
United States |
$ | 282,968 | $ | 276,409 | 2.4 | 2.4 | | |||||||||||||
International |
160,396 | 150,270 | 6.7 | 9.2 | (2.5 | ) | ||||||||||||||
TOTAL |
$ | 443,364 | $ | 426,679 | 3.9 | 4.8 | (0.9 | ) | ||||||||||||
BY SEGMENT |
||||||||||||||||||||
BD Medical |
$ | 208,822 | $ | 204,536 | 2.1 | 2.7 | (0.6 | ) | ||||||||||||
BD Diagnostics |
234,542 | 222,143 | 5.6 | 6.7 | (1.1 | ) | ||||||||||||||
TOTAL |
$ | 443,364 | $ | 426,679 | 3.9 | 4.8 | (0.9 | ) | ||||||||||||
Twelve Months Ended September 30, | ||||||||||||||||||||
% Change | ||||||||||||||||||||
2010 | 2009 | Reported | FXN | FX Impact | ||||||||||||||||
TOTAL SAFETY REVENUES |
||||||||||||||||||||
United States |
$ | 1,108,431 | $ | 1,056,797 | 4.9 | 4.9 | | |||||||||||||
International |
621,913 | 568,106 | 9.5 | 8.1 | 1.4 | |||||||||||||||
TOTAL |
$ | 1,730,344 | $ | 1,624,903 | 6.5 | 6.0 | 0.5 | |||||||||||||
BY SEGMENT |
||||||||||||||||||||
BD Medical |
$ | 819,084 | $ | 761,262 | 7.6 | 6.9 | 0.7 | |||||||||||||
BD Diagnostics |
911,260 | 863,641 | 5.5 | 5.2 | 0.3 | |||||||||||||||
TOTAL |
$ | 1,730,344 | $ | 1,624,903 | 6.5 | 6.0 | 0.5 | |||||||||||||
Page 13
Quarter 1 | Quarter 2 | Quarter 3 | Quarter 3 YTD | |||||||||||||
REVENUES |
$ | 1,868,818 | $ | 1,799,409 | $ | 1,830,911 | $ | 5,499,138 | ||||||||
Cost of products sold |
894,324 | 864,492 | 883,434 | 2,642,250 | ||||||||||||
Selling and administrative |
445,673 | 421,076 | 416,468 | 1,283,217 | ||||||||||||
Research and development |
99,151 | 100,193 | 108,047 | 307,391 | ||||||||||||
TOTAL OPERATING COSTS
AND EXPENSES |
1,439,148 | 1,385,761 | 1,407,949 | 4,232,858 | ||||||||||||
OPERATING INCOME |
429,670 | 413,648 | 422,962 | 1,266,280 | ||||||||||||
Interest income |
8,789 | 9,652 | 2,094 | 20,535 | ||||||||||||
Interest expense |
(12,987 | ) | (12,913 | ) | (13,085 | ) | (38,985 | ) | ||||||||
Other (expense) income, net |
(2,354 | ) | 164 | 1,402 | (788 | ) | ||||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE
INCOME TAXES |
423,118 | 410,551 | 413,373 | 1,247,042 | ||||||||||||
Income tax provision |
119,025 | 125,517 | 119,213 | 363,755 | ||||||||||||
INCOME FROM CONTINUING OPERATIONS |
304,093 | 285,034 | 294,160 | 883,287 | ||||||||||||
Income from Discontinued Operations
before Income Tax |
16,900 | 16,698 | 17,088 | 50,686 | ||||||||||||
Income Tax provision |
4,617 | 4,101 | 4,340 | 13,058 | ||||||||||||
INCOME FROM DISCONTINUED OPERATIONS |
12,283 | 12,597 | 12,748 | 37,628 | ||||||||||||
NET INCOME |
$ | 316,376 | $ | 297,631 | $ | 306,908 | 920,915 | |||||||||
EARNINGS PER SHARE |
||||||||||||||||
Basic: |
||||||||||||||||
Income from continuing operations |
$ | 1.28 | $ | 1.21 | $ | 1.26 | $ | 3.75 | ||||||||
Income from discontinued operations |
$ | 0.05 | $ | 0.05 | $ | 0.05 | $ | 0.16 | ||||||||
Net income (1) |
$ | 1.33 | $ | 1.26 | $ | 1.32 | $ | 3.91 | ||||||||
Diluted: |
||||||||||||||||
Income from continuing operations |
$ | 1.25 | $ | 1.18 | $ | 1.23 | $ | 3.66 | ||||||||
Income from discontinued operations |
$ | 0.05 | $ | 0.05 | $ | 0.05 | $ | 0.16 | ||||||||
Net income (1) |
$ | 1.30 | $ | 1.24 | $ | 1.29 | $ | 3.82 | ||||||||
AVERAGE SHARES OUTSTANDING |
||||||||||||||||
Basic |
237,360 | 235,325 | 233,242 | 235,316 | ||||||||||||
Diluted |
242,965 | 240,863 | 238,319 | 241,151 |
Certain quarterly amounts may not add to the year-to-date totals due to rounding. | ||
(1) | Total per share amounts may not add due to rounding. |
Page 14
Quarter 1 | Quarter 2 | Quarter 3 | Quarter 4 | Year | ||||||||||||||||
REVENUES |
$ | 1,673,148 | $ | 1,683,142 | $ | 1,776,409 | $ | 1,854,023 | $ | 6,986,722 | ||||||||||
Cost of products sold |
775,542 | 807,382 | 838,555 | 890,197 | 3,311,676 | |||||||||||||||
Selling and administrative |
399,668 | 430,608 | 423,513 | 427,008 | 1,680,797 | |||||||||||||||
Research and development |
96,356 | 97,700 | 97,621 | 112,890 | 404,567 | |||||||||||||||
TOTAL OPERATING COSTS
AND EXPENSES |
1,271,566 | 1,335,690 | 1,359,689 | 1,430,095 | 5,397,040 | |||||||||||||||
OPERATING INCOME |
401,582 | 347,452 | 416,720 | 423,928 | 1,589,682 | |||||||||||||||
Interest income |
1,651 | 4,312 | 12,767 | 14,418 | 33,148 | |||||||||||||||
Interest expense |
(7,824 | ) | (7,495 | ) | (11,288 | ) | (13,782 | ) | (40,389 | ) | ||||||||||
Other income (expense), net |
9,411 | (5,701 | ) | (4,246 | ) | (3,312 | ) | (3,850 | ) | |||||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE
INCOME TAXES |
404,820 | 338,568 | 413,953 | 421,252 | 1,578,591 | |||||||||||||||
Income tax provision |
108,213 | 89,702 | 86,508 | 126,824 | 411,246 | |||||||||||||||
INCOME FROM CONTINUING OPERATIONS |
296,607 | 248,866 | 327,445 | 294,428 | 1,167,345 | |||||||||||||||
Income from Discontinued Operations
before Income Tax |
20,234 | 15,944 | 17,579 | 30,476 | 84,233 | |||||||||||||||
Income Tax provision |
4,773 | 3,521 | 3,997 | 7,684 | 19,975 | |||||||||||||||
INCOME FROM DISCONTINUED OPERATIONS |
15,461 | 12,423 | 13,582 | 22,792 | 64,258 | |||||||||||||||
NET INCOME |
$ | 312,068 | $ | 261,289 | $ | 341,027 | $ | 317,220 | $ | 1,231,603 | ||||||||||
EARNINGS PER SHARE |
||||||||||||||||||||
Basic: |
||||||||||||||||||||
Income from continuing operations |
$ | 1.22 | $ | 1.04 | $ | 1.36 | $ | 1.23 | $ | 4.85 | ||||||||||
Income from discontinued operations |
$ | 0.06 | $ | 0.05 | $ | 0.06 | $ | 0.10 | $ | 0.27 | ||||||||||
Net income (1) |
$ | 1.29 | $ | 1.09 | $ | 1.42 | $ | 1.33 | $ | 5.12 | ||||||||||
Diluted: |
||||||||||||||||||||
Income from continuing operations |
$ | 1.19 | $ | 1.01 | $ | 1.33 | $ | 1.20 | $ | 4.73 | ||||||||||
Income from discontinued operations |
$ | 0.06 | $ | 0.05 | $ | 0.06 | $ | 0.09 | $ | 0.26 | ||||||||||
Net income (1) |
$ | 1.26 | $ | 1.06 | $ | 1.39 | $ | 1.29 | $ | 4.99 | ||||||||||
AVERAGE SHARES OUTSTANDING |
||||||||||||||||||||
Basic |
242,397 | 240,239 | 240,109 | 239,162 | 240,479 | |||||||||||||||
Diluted |
248,311 | 245,890 | 245,696 | 245,056 | 246,798 |
Certain quarterly amounts may not add to the year-to-date totals due to rounding. | ||
(1) | Total per share amounts may not add due to rounding. |
Page 15
Quarter 1 | Quarter 2 | Quarter 3 | Quarter 3 YTD | |||||||||||||
TOTAL SAFETY REVENUES |
||||||||||||||||
United States |
$ | 291,815 | $ | 263,044 | $ | 270,604 | $ | 825,463 | ||||||||
International |
155,129 | 148,537 | 157,851 | 461,517 | ||||||||||||
TOTAL |
$ | 446,944 | $ | 411,581 | $ | 428,455 | $ | 1,286,980 | ||||||||
BY SEGMENT |
||||||||||||||||
BD Medical |
$ | 221,174 | $ | 193,688 | $ | 195,400 | $ | 610,262 | ||||||||
BD Diagnostics |
225,770 | 217,893 | 233,055 | 676,718 | ||||||||||||
TOTAL |
$ | 446,944 | $ | 411,581 | $ | 428,455 | $ | 1,286,980 | ||||||||
Page 16
Quarter 1 | Quarter 2 | Quarter 3 | Quarter 4 | Year | ||||||||||||||||
TOTAL SAFETY REVENUES |
||||||||||||||||||||
United States |
$ | 263,865 | $ | 249,820 | $ | 266,703 | $ | 276,409 | $ | 1,056,797 | ||||||||||
International |
133,499 | 136,054 | 148,283 | 150,270 | 568,106 | |||||||||||||||
TOTAL |
$ | 397,364 | $ | 385,874 | $ | 414,986 | $ | 426,679 | $ | 1,624,903 | ||||||||||
BY SEGMENT |
||||||||||||||||||||
BD Medical |
$ | 187,066 | $ | 177,721 | $ | 191,939 | $ | 204,536 | $ | 761,262 | ||||||||||
BD Diagnostics |
210,298 | 208,153 | 223,047 | 222,143 | 863,641 | |||||||||||||||
TOTAL |
$ | 397,364 | $ | 385,874 | $ | 414,986 | $ | 426,679 | $ | 1,624,903 | ||||||||||
Page 17