EX-99.1
Published on April 26, 2011
1 Becton Drive
Franklin Lakes, NJ 07417
www.bd.com
Franklin Lakes, NJ 07417
www.bd.com
News Release
Contact:
Monique N. Dolecki, Investor Relations 201-847-5453
Colleen T. White, Corporate Communications 201-847-5369
Monique N. Dolecki, Investor Relations 201-847-5453
Colleen T. White, Corporate Communications 201-847-5369
BD ANNOUNCES RESULTS FOR 2011 SECOND FISCAL QUARTER
Franklin Lakes, NJ (April 26, 2011) BD (Becton, Dickinson and Company) (NYSE: BDX), a leading
global medical technology company, today reported quarterly revenues of $1.922 billion for the
second fiscal quarter ended March 31, 2011, representing an increase of 6.8 percent from the
prior-year period. On a foreign currency-neutral basis, revenue increased 4.6 percent, despite an
unfavorable comparison to the prior year of about 2.3 percentage points due to strong sales related
to the H1N1 flu pandemic, supplemental spending in Japan and stimulus spending in the U.S. in
fiscal year 2010.
We are pleased with our solid results this quarter, which were in line with our expectations,
said Edward J. Ludwig, Chairman and Chief Executive Officer. We continued the increased pace of
our R&D spending and made strategic investments, such as our acquisition of Accuri Cytometers,
demonstrating our commitment to driving revenue growth through innovation.
Update on Impact of Japan Earthquake and Tsunami
Order volumes for BD products in Japan have now returned to normal levels. The Companys
manufacturing plant in Fukushima sustained some earthquake-related damage, but the prepared plated
media manufacturing lines were recently restarted, and manufacturing of BD HypakTM
Prefillable Syringes is expected to resume during the third fiscal quarter 2011. BDs Fukushima
distribution center and an additional distribution center near Tokyo are in operation. The
unfavorable impact of these events on the Companys revenues in the second fiscal quarter was less
than $10 million. For the full fiscal year 2011, the Company anticipates these events to have an
aggregate unfavorable impact of $10 to $20 million on revenues, or about $0.05 per share, which has
been incorporated into its fiscal year 2011 guidance.
1
Update on the Acquisition of Accuri Cytometers, Inc.
As announced in March 2011, the Company completed the acquisition of Accuri Cytometers, Inc., an
Ann Arbor, Michigan-based company that develops and manufactures personal flow cytometers for
researchers. The financial impact of the acquisition on fiscal year 2011 earnings has been
incorporated into the Companys previously disclosed guidance.
Second Quarter and Six-Month Fiscal 2011 Operating Results
Reported diluted earnings per share for the second quarter were $1.38, compared with $1.18 in the
prior-year period, representing a 16.9 percent increase. The prior-year period included a non-cash
charge of $8.9 million, or $0.04 per share, related to healthcare reform impacting Medicare Part D
reimbursements. Excluding that item, earnings per share from continuing operations increased by
13.1 percent, compared with adjusted diluted earnings per share from continuing operations of $1.22
in the prior-year period, or 7.4 percent on a currency-neutral basis.
For the six-month period ending March 31, 2011, reported diluted earnings per share from continuing
operations were $2.72, compared with $2.43 in the prior-year period. Excluding the aforementioned
charge, diluted earnings per share from continuing operations increased by 10.1 percent, compared
with adjusted diluted earnings per share of $2.47 in the prior-year period, or 5.3 percent on a
currency-neutral basis.
Segment Results
In the BD Medical segment, worldwide revenues for the quarter were $981 million, representing an
increase of 6.5 percent compared with the prior-year period, or 4.9 percent on a foreign
currency-neutral basis. Revenues reflected strong sales of Diabetes Care and Pharmaceutical Systems
products. The segments revenues also reflected an unfavorable comparison to the prior year of
about 1.6 percentage points due to strong sales related to the H1N1 flu pandemic in fiscal year
2010. For the six-month period ended March 31, 2011, BD Medical revenues increased 0.8 percent, or
0.1 percent on a foreign currency-neutral basis.
In the BD Diagnostics segment, worldwide revenues for the quarter were $605 million, representing
an increase of 8.9 percent compared with the prior-year period, or 6.5 percent on a foreign
currency-neutral basis. Revenues reflected solid growth in Preanalytical Systems safety-engineered
products and strong growth in Diagnostic Systems infectious disease platforms. For the six-month
period ended March 31, 2011, BD Diagnostics revenues increased 4.9 percent, or 3.6 percent on a
foreign currency-neutral basis.
In the BD Biosciences segment, worldwide revenues for the quarter were $335 million, representing
an increase of 4.1 percent compared with the prior-year period, or 0.4 percent on a foreign
currency-neutral basis. Segment revenue growth was negatively impacted by about 12 percentage
points due to certain factors. About 8 percentage points of the impact was due to an unfavorable
comparison resulting from strong sales related to supplemental spending in Japan and stimulus
spending in the U.S. in fiscal year 2010, and about 3 percentage points resulted from the effects
of the earthquake and tsunami in Japan. Segment growth was driven primarily by instrument and
reagent sales in the Cell Analysis unit. Discovery Labware revenues in the U.S. were negatively
impacted by weakness in core consumables due to lower pharmaceutical spending and academic sector
sales. For the six-month
2
period ended March 31, 2011, BD Biosciences revenues increased by 3.9
percent, or 1.9 percent on a foreign currency-neutral basis.
Geographic Results
Second quarter revenues in the U.S. were $829 million, representing an increase of 4.7 percent
compared with the prior-year period. Revenues outside of the U.S. were $1.093 billion,
representing an increase of 8.5 percent compared with the prior-year period, or 4.6 percent on a
foreign currency-neutral basis. Revenues reflected continued strength in emerging markets, which
was partially offset by weakened demand in Western Europe due to challenging macroeconomic
conditions. For the six-month period ended March 31, 2011, revenues in the U.S. were $1.658
billion, representing an increase of 0.8 percent compared with the prior-year period. Revenues
outside of the U.S. were $2.106 billion, representing an increase of 4.1 percent compared with the
prior-year period, or 2.1 percent on a foreign currency-neutral basis.
Fiscal Year 2011 Outlook
The Company is raising its reported revenue guidance for the full fiscal year 2011 to an increase
of approximately 5 to 6 percent compared with fiscal year 2010, due to an expected favorable
currency impact. On a foreign currency-neutral basis, the Company is lowering its revenue guidance
to an increase of about 3.5 percent versus its previous guidance of about 4 percent, mainly due to
lower than expected sales in Western Europe.
The Company is raising its previous guidance for reported diluted earnings per share from
continuing operations for fiscal year 2011 by about $0.10 per share to a range of $5.55 to $5.65,
an increase of approximately 13 to 15 percent over fiscal year 2010. This revised guidance reflects
the anticipated effects of favorable currency and operating efficiencies, partially offset by
higher resin costs and the negative impact of the Japan earthquake and tsunami. Diluted earnings
per share from continuing operations for fiscal year 2011 are expected to increase 12 to 14 percent
over adjusted diluted earnings per share from continuing operations of $4.94, excluding the
specified item, for fiscal year 2010. The specified item represents the aforementioned 2010
non-cash charge of $0.04 per share related to healthcare reform. On a currency-neutral basis, the
Company expects diluted earnings per share from continuing operations to increase about 10 percent
over adjusted diluted earnings per share in the prior-year period.
Conference Call Information
A conference call regarding BDs second quarter results and its expectations for the full fiscal
year 2011 will be broadcast live on BDs website, www.bd.com/investors, along with related
slides, at 10:00 a.m. (ET) Wednesday, April 27, 2011. The slides are available concurrent with the
issuance of this press release at www.bd.com/investors. The conference call will be
available for replay on BDs website, www.bd.com/investors, or at 1-800-642-1687 (domestic)
and 1-706-645-9291 (international) through the close of business on Wednesday, May 4, 2011, access
code 59468691.
Non-GAAP Financial Measures
This news release contains certain non-GAAP financial measures. Reconciliations of these and other
non-GAAP measures to the comparable GAAP measures are included in the attached financial tables.
3
About BD
BD is a leading global medical technology company that develops, manufactures and sells medical
devices, instrument systems and reagents. The Company is dedicated to improving peoples health
throughout the world. BD is focused on improving drug delivery, enhancing the quality and speed of
diagnosing infectious diseases and cancers, and advancing research, discovery and production of new
drugs and vaccines. BDs capabilities are instrumental in combating many of the worlds most
pressing diseases. Founded in 1897 and headquartered in Franklin Lakes, New Jersey, BD employs
approximately 29,000 associates in more than 50 countries throughout the world. The Company serves
healthcare institutions, life science researchers, clinical laboratories, the pharmaceutical
industry and the general public. For more information, please visit www.bd.com.
***
This press release, including the section entitled Fiscal Year 2011 Outlook, contains certain
estimates and other forward-looking statements (as defined under Federal securities laws) regarding
BDs performance, including future revenues and earnings per share. Forward-looking statements may
be identified by the use of words such as expect, estimate or words of similar meaning in
conjunction with statements of future performance. 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, a number of factors could
cause actual results to vary materially from any forward-looking statement. These factors include,
but are not limited to: the potential adverse effects that the earthquake and tsunami in Japan and
the situation regarding the Fukushima, Japan nuclear power plant may have on BDs future operations
in Japan; the unknown consequences of the recently-enacted healthcare reform in the United States,
including the impact of the reduction in Medicare and Medicaid payments to hospitals,
pharmaceutical companies and other customers, which could reduce demand for BDs products and
increase downward pricing pressure; adverse changes in regional, national or foreign economic
conditions, including any impact that may result from the current global economic situation on BDs
ability to access credit markets and finance its operations, the demand for BDs products and
services, or its suppliers ability to provide products needed for BDs operations; changes in
interest or foreign currency exchange rates; competitive factors; pricing and market share
pressures; difficulties inherent in product development and delays in product introductions;
increases in energy costs and their effect on, among other things, the cost of producing BDs
products; fluctuations in costs and availability of raw materials and in BDs ability to maintain
favorable supplier arrangements and relationships; new or changing laws impacting BDs business or
changes in enforcement practices with respect to such laws; uncertainties of litigation (as
described in BDs filings with the Securities and Exchange Commission); future healthcare reform,
including changes in government pricing and reimbursement policies or other cost containment
reforms; the effects of potential pandemic diseases; BDs ability to successfully integrate any
businesses it acquires; and issuance of new or revised accounting standards, as well as other
factors discussed in BDs filings with the Securities and Exchange Commission. BD does 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.
4
BECTON DICKINSON AND COMPANY
CONSOLIDATED INCOME STATEMENTS
(Unaudited; Amounts in thousands, except per share data)
CONSOLIDATED INCOME STATEMENTS
(Unaudited; Amounts in thousands, except per share data)
Three Months Ended March 31, | ||||||||||||
2011 | 2010 | % Change | ||||||||||
REVENUES |
$ | 1,922,023 | $ | 1,799,409 | 6.8 | |||||||
Cost of products sold |
920,589 | 864,492 | 6.5 | |||||||||
Selling and administrative |
441,942 | 421,076 | 5.0 | |||||||||
Research and development |
119,152 | 100,193 | 18.9 | |||||||||
TOTAL OPERATING COSTS
AND EXPENSES |
1,481,683 | 1,385,761 | 6.9 | |||||||||
OPERATING INCOME |
440,340 | 413,648 | 6.5 | |||||||||
Interest income |
14,564 | 9,652 | 50.9 | |||||||||
Interest expense |
(23,921 | ) | (12,913 | ) | 85.2 | |||||||
Other (expense) income, net |
(2,522 | ) | 164 | NM | ||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE
INCOME TAXES |
428,461 | 410,551 | 4.4 | |||||||||
Income tax provision |
117,399 | 125,517 | (6.5 | ) | ||||||||
INCOME FROM CONTINUING OPERATIONS |
311,062 | 285,034 | 9.1 | |||||||||
INCOME FROM DISCONTINUED OPERATIONS
NET OF INCOME TAX PROVISION OF
$377 AND $4,101, RESPECTIVELY |
957 | 12,597 | (92.4 | ) | ||||||||
NET INCOME |
$ | 312,019 | $ | 297,631 | 4.8 | |||||||
EARNINGS PER SHARE |
||||||||||||
Basic: |
||||||||||||
Income from continuing operations |
$ | 1.41 | $ | 1.21 | 16.5 | |||||||
Income from discontinued operations |
$ | | $ | 0.05 | NM | |||||||
Net income |
$ | 1.41 | $ | 1.26 | 11.9 | |||||||
Diluted: |
||||||||||||
Income from continuing operations |
$ | 1.38 | $ | 1.18 | 16.9 | |||||||
Income from discontinued operations |
$ | | $ | 0.05 | NM | |||||||
Net income (1)
|
$ | 1.38 | $ | 1.24 | 11.3 | |||||||
AVERAGE SHARES OUTSTANDING |
||||||||||||
Basic |
220,894 | 235,325 | ||||||||||
Diluted |
225,467 | 240,863 | ||||||||||
NM Not Meaningful | ||
(1) | Total per share amounts may not add due to rounding |
Page 1
BECTON DICKINSON AND COMPANY
CONSOLIDATED INCOME STATEMENTS
(Unaudited; Amounts in thousands, except per share data)
CONSOLIDATED INCOME STATEMENTS
(Unaudited; Amounts in thousands, except per share data)
Six Months Ended March 31, | ||||||||||||
2011 | 2010 | % Change | ||||||||||
REVENUES |
$ | 3,764,028 | $ | 3,668,227 | 2.6 | |||||||
Cost of products sold |
1,786,020 | 1,758,816 | 1.5 | |||||||||
Selling and administrative |
889,897 | 866,749 | 2.7 | |||||||||
Research and development |
234,693 | 199,344 | 17.7 | |||||||||
TOTAL OPERATING COSTS
AND EXPENSES |
2,910,610 | 2,824,909 | 3.0 | |||||||||
OPERATING INCOME |
853,418 | 843,318 | 1.2 | |||||||||
Interest income |
29,786 | 18,441 | 61.5 | |||||||||
Interest expense |
(39,474 | ) | (25,900 | ) | 52.4 | |||||||
Other expense, net |
(7,118 | ) | (2,190 | ) | NM | |||||||
INCOME FROM CONTINUING OPERATIONS BEFORE
INCOME TAXES |
836,612 | 833,669 | 0.4 | |||||||||
Income tax provision |
211,273 | 244,542 | (13.6 | ) | ||||||||
INCOME FROM CONTINUING OPERATIONS |
625,339 | 589,127 | 6.1 | |||||||||
INCOME FROM DISCONTINUED OPERATIONS
NET OF INCOME TAX PROVISION OF
$601 AND $8,718, RESPECTIVELY |
2,617 | 24,880 | (89.5 | ) | ||||||||
NET INCOME |
$ | 627,956 | $ | 614,007 | 2.3 | |||||||
EARNINGS PER SHARE |
||||||||||||
Basic: |
||||||||||||
Income from continuing operations |
$ | 2.79 | $ | 2.49 | 12.0 | |||||||
Income from discontinued operations |
$ | 0.01 | $ | 0.11 | (90.9 | ) | ||||||
Net income |
$ | 2.80 | $ | 2.60 | 7.7 | |||||||
Diluted: |
||||||||||||
Income from continuing operations |
$ | 2.72 | $ | 2.43 | 11.9 | |||||||
Income from discontinued operations |
$ | 0.01 | $ | 0.10 | (90.0 | ) | ||||||
Net income (1)
|
$ | 2.74 | $ | 2.53 | 8.3 | |||||||
AVERAGE SHARES OUTSTANDING |
||||||||||||
Basic |
224,528 | 236,353 | ||||||||||
Diluted |
229,529 | 242,327 | ||||||||||
NM Not Meaningful | ||
(1) | Total per share amounts may not add due to rounding |
Page 2
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY SEGMENT AND GEOGRAPHIC AREA
(Unaudited; Amounts in thousands)
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY SEGMENT AND GEOGRAPHIC AREA
(Unaudited; Amounts in thousands)
Three Months Ended March 31, | ||||||||||||
2011 | 2010 | % Change | ||||||||||
BD MEDICAL |
||||||||||||
United States |
$ | 398,487 | $ | 381,767 | 4.4 | |||||||
International |
582,845 | 539,866 | 8.0 | |||||||||
TOTAL |
$ | 981,332 | $ | 921,633 | 6.5 | |||||||
BD DIAGNOSTICS |
||||||||||||
United States |
$ | 310,617 | $ | 292,841 | 6.1 | |||||||
International |
294,730 | 262,831 | 12.1 | |||||||||
TOTAL |
$ | 605,347 | $ | 555,672 | 8.9 | |||||||
BD BIOSCIENCES |
||||||||||||
United States |
$ | 120,077 | $ | 117,151 | 2.5 | |||||||
International |
215,267 | 204,953 | 5.0 | |||||||||
TOTAL |
$ | 335,344 | $ | 322,104 | 4.1 | |||||||
TOTAL REVENUES |
||||||||||||
United States |
$ | 829,181 | $ | 791,759 | 4.7 | |||||||
International |
1,092,842 | 1,007,650 | 8.5 | |||||||||
TOTAL |
$ | 1,922,023 | $ | 1,799,409 | 6.8 | |||||||
Page 3
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY SEGMENT AND GEOGRAPHIC AREA
(Unaudited; Amounts in thousands)
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY SEGMENT AND GEOGRAPHIC AREA
(Unaudited; Amounts in thousands)
Six Months Ended March 31, | ||||||||||||
2011 | 2010 | % Change | ||||||||||
BD MEDICAL |
||||||||||||
United States |
$ | 804,014 | $ | 814,344 | (1.3 | ) | ||||||
International |
1,103,863 | 1,077,959 | 2.4 | |||||||||
TOTAL |
$ | 1,907,877 | $ | 1,892,303 | 0.8 | |||||||
BD DIAGNOSTICS |
||||||||||||
United States |
$ | 619,467 | $ | 603,045 | 2.7 | |||||||
International |
587,603 | 548,102 | 7.2 | |||||||||
TOTAL |
$ | 1,207,070 | $ | 1,151,147 | 4.9 | |||||||
BD BIOSCIENCES |
||||||||||||
United States |
$ | 234,302 | $ | 227,787 | 2.9 | |||||||
International |
414,779 | 396,990 | 4.5 | |||||||||
TOTAL |
$ | 649,081 | $ | 624,777 | 3.9 | |||||||
TOTAL REVENUES |
||||||||||||
United States |
$ | 1,657,783 | $ | 1,645,176 | 0.8 | |||||||
International |
2,106,245 | 2,023,051 | 4.1 | |||||||||
TOTAL |
$ | 3,764,028 | $ | 3,668,227 | 2.6 | |||||||
Page 4
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Three Months Ended March 31,
(Unaudited; Amounts in thousands)
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Three Months Ended March 31,
(Unaudited; Amounts in thousands)
United States | ||||||||||||
2011 | 2010 | % Change | ||||||||||
BD MEDICAL |
||||||||||||
Medical Surgical Systems |
$ | 234,571 | $ | 237,174 | (1.1 | ) | ||||||
Diabetes Care |
95,939 | 92,515 | 3.7 | |||||||||
Pharmaceutical Systems |
67,977 | 52,078 | 30.5 | |||||||||
TOTAL |
$ | 398,487 | $ | 381,767 | 4.4 | |||||||
BD DIAGNOSTICS |
||||||||||||
Preanalytical Systems |
$ | 156,978 | $ | 149,932 | 4.7 | |||||||
Diagnostic Systems |
153,639 | 142,909 | 7.5 | |||||||||
TOTAL |
$ | 310,617 | $ | 292,841 | 6.1 | |||||||
BD BIOSCIENCES |
||||||||||||
Cell Analysis |
$ | 83,006 | $ | 78,183 | 6.2 | |||||||
Discovery Labware |
37,071 | 38,968 | (4.9 | ) | ||||||||
TOTAL |
$ | 120,077 | $ | 117,151 | 2.5 | |||||||
TOTAL UNITED STATES |
$ | 829,181 | $ | 791,759 | 4.7 | |||||||
Page 5
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Three Months Ended March 31, (continued)
(Unaudited; Amounts in thousands)
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Three Months Ended March 31, (continued)
(Unaudited; Amounts in thousands)
International | ||||||||||||||||||||
% Change | ||||||||||||||||||||
2011 | 2010 | Reported | FXN | FX Impact | ||||||||||||||||
BD MEDICAL |
||||||||||||||||||||
Medical Surgical Systems |
$ | 270,020 | $ | 244,090 | 10.6 | 5.7 | 4.9 | |||||||||||||
Diabetes Care |
111,820 | $ | 95,471 | 17.1 | 12.4 | 4.7 | ||||||||||||||
Pharmaceutical Systems |
201,005 | $ | 200,305 | 0.3 | 1.2 | (0.9 | ) | |||||||||||||
TOTAL |
$ | 582,845 | $ | 539,866 | 8.0 | 5.3 | 2.7 | |||||||||||||
BD DIAGNOSTICS |
||||||||||||||||||||
Preanalytical Systems |
$ | 149,261 | $ | 137,738 | 8.4 | 3.9 | 4.5 | |||||||||||||
Diagnostic Systems |
145,469 | 125,093 | 16.3 | 10.7 | 5.6 | |||||||||||||||
TOTAL |
$ | 294,730 | $ | 262,831 | 12.1 | 7.1 | 5.0 | |||||||||||||
BD BIOSCIENCES |
||||||||||||||||||||
Cell Analysis |
$ | 172,510 | $ | 164,292 | 5.0 | (0.5 | ) | 5.5 | ||||||||||||
Discovery Labware |
42,757 | 40,661 | 5.2 | (1.6 | ) | 6.8 | ||||||||||||||
TOTAL |
$ | 215,267 | $ | 204,953 | 5.0 | (0.8 | ) | 5.8 | ||||||||||||
TOTAL INTERNATIONAL |
$ | 1,092,842 | $ | 1,007,650 | 8.5 | 4.6 | 3.9 | |||||||||||||
Page 6
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Three Months Ended March 31, (continued)
(Unaudited; Amounts in thousands)
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Three Months Ended March 31, (continued)
(Unaudited; Amounts in thousands)
Total | ||||||||||||||||||||
% Change | ||||||||||||||||||||
2011 | 2010 | Reported | FXN | FX Impact | ||||||||||||||||
BD MEDICAL |
||||||||||||||||||||
Medical Surgical Systems |
$ | 504,591 | $ | 481,264 | 4.8 | 2.3 | 2.5 | |||||||||||||
Diabetes Care |
207,759 | 187,986 | 10.5 | 8.1 | 2.4 | |||||||||||||||
Pharmaceutical Systems |
268,982 | 252,383 | 6.6 | 7.3 | (0.7 | ) | ||||||||||||||
TOTAL |
$ | 981,332 | $ | 921,633 | 6.5 | 4.9 | 1.6 | |||||||||||||
BD DIAGNOSTICS |
||||||||||||||||||||
Preanalytical Systems |
$ | 306,239 | $ | 287,670 | 6.5 | 4.4 | 2.1 | |||||||||||||
Diagnostic Systems |
299,108 | 268,002 | 11.6 | 9.0 | 2.6 | |||||||||||||||
TOTAL |
$ | 605,347 | $ | 555,672 | 8.9 | 6.5 | 2.4 | |||||||||||||
BD BIOSCIENCES |
||||||||||||||||||||
Cell Analysis |
$ | 255,516 | $ | 242,475 | 5.4 | 1.7 | 3.7 | |||||||||||||
Discovery Labware |
79,828 | 79,629 | 0.2 | (3.3 | ) | 3.5 | ||||||||||||||
TOTAL |
$ | 335,344 | $ | 322,104 | 4.1 | 0.4 | 3.7 | |||||||||||||
TOTAL REVENUES |
$ | 1,922,023 | $ | 1,799,409 | 6.8 | 4.6 | 2.2 | |||||||||||||
Page 7
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Six Months Ended March 31,
(Unaudited; Amounts in thousands)
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Six Months Ended March 31,
(Unaudited; Amounts in thousands)
United States | ||||||||||||
2011 | 2010 | % Change | ||||||||||
BD MEDICAL |
||||||||||||
Medical Surgical Systems |
$ | 488,825 | $ | 511,166 | (4.4 | ) | ||||||
Diabetes Care |
195,524 | 189,079 | 3.4 | |||||||||
Pharmaceutical Systems |
119,665 | 114,099 | 4.9 | |||||||||
TOTAL |
$ | 804,014 | $ | 814,344 | (1.3 | ) | ||||||
BD DIAGNOSTICS |
||||||||||||
Preanalytical Systems |
$ | 319,036 | $ | 306,167 | 4.2 | |||||||
Diagnostic Systems |
300,431 | 296,878 | 1.2 | |||||||||
TOTAL |
$ | 619,467 | $ | 603,045 | 2.7 | |||||||
BD BIOSCIENCES |
||||||||||||
Cell Analysis |
$ | 163,262 | $ | 155,787 | 4.8 | |||||||
Discovery Labware |
71,040 | 72,000 | (1.3 | ) | ||||||||
TOTAL |
$ | 234,302 | $ | 227,787 | 2.9 | |||||||
TOTAL UNITED STATES |
$ | 1,657,783 | $ | 1,645,176 | 0.8 | |||||||
Page 8
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Six Months Ended March 31, (continued)
(Unaudited; Amounts in thousands)
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Six Months Ended March 31, (continued)
(Unaudited; Amounts in thousands)
International | ||||||||||||||||||||
% Change | ||||||||||||||||||||
2011 | 2010 | Reported | FXN | FX Impact | ||||||||||||||||
BD MEDICAL |
||||||||||||||||||||
Medical Surgical Systems |
$ | 528,491 | $ | 503,273 | 5.0 | 1.7 | 3.3 | |||||||||||||
Diabetes Care |
226,118 | 200,428 | 12.8 | 10.5 | 2.3 | |||||||||||||||
Pharmaceutical Systems |
349,254 | 374,258 | (6.7 | ) | (4.4 | ) | (2.3 | ) | ||||||||||||
TOTAL |
$ | 1,103,863 | $ | 1,077,959 | 2.4 | 1.2 | 1.2 | |||||||||||||
BD DIAGNOSTICS |
||||||||||||||||||||
Preanalytical Systems |
$ | 299,832 | $ | 281,670 | 6.4 | 3.9 | 2.5 | |||||||||||||
Diagnostic Systems |
287,771 | 266,432 | 8.0 | 4.8 | 3.2 | |||||||||||||||
TOTAL |
$ | 587,603 | $ | 548,102 | 7.2 | 4.4 | 2.8 | |||||||||||||
BD BIOSCIENCES |
||||||||||||||||||||
Cell Analysis |
$ | 332,997 | $ | 318,025 | 4.7 | 1.9 | 2.8 | |||||||||||||
Discovery Labware |
81,782 | 78,965 | 3.6 | (0.9 | ) | 4.5 | ||||||||||||||
TOTAL |
$ | 414,779 | $ | 396,990 | 4.5 | 1.4 | 3.1 | |||||||||||||
TOTAL INTERNATIONAL |
$ | 2,106,245 | $ | 2,023,051 | 4.1 | 2.1 | 2.0 | |||||||||||||
Page 9
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Six Months Ended March 31, (continued)
(Unaudited; Amounts in thousands)
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Six Months Ended March 31, (continued)
(Unaudited; Amounts in thousands)
Total | ||||||||||||||||||||
% Change | ||||||||||||||||||||
2011 | 2010 | Reported | FXN | FX Impact | ||||||||||||||||
BD MEDICAL |
||||||||||||||||||||
Medical Surgical Systems |
$ | 1,017,316 | $ | 1,014,439 | 0.3 | (1.4 | ) | 1.7 | ||||||||||||
Diabetes Care |
421,642 | 389,507 | 8.3 | 7.1 | 1.2 | |||||||||||||||
Pharmaceutical Systems |
468,919 | 488,357 | (4.0 | ) | (2.2 | ) | (1.8 | ) | ||||||||||||
TOTAL |
$ | 1,907,877 | $ | 1,892,303 | 0.8 | 0.1 | 0.7 | |||||||||||||
BD DIAGNOSTICS |
||||||||||||||||||||
Preanalytical Systems |
$ | 618,868 | $ | 587,837 | 5.3 | 4.1 | 1.2 | |||||||||||||
Diagnostic Systems |
588,202 | 563,310 | 4.4 | 2.9 | 1.5 | |||||||||||||||
TOTAL |
$ | 1,207,070 | $ | 1,151,147 | 4.9 | 3.6 | 1.3 | |||||||||||||
BD BIOSCIENCES |
||||||||||||||||||||
Cell Analysis |
$ | 496,259 | $ | 473,812 | 4.7 | 2.8 | 1.9 | |||||||||||||
Discovery Labware |
152,822 | 150,965 | 1.2 | (1.1 | ) | 2.3 | ||||||||||||||
TOTAL |
$ | 649,081 | $ | 624,777 | 3.9 | 1.9 | 2.0 | |||||||||||||
TOTAL REVENUES |
$ | 3,764,028 | $ | 3,668,227 | 2.6 | 1.5 | 1.1 | |||||||||||||
Page 10
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
SAFETY REVENUES
(Unaudited; Amounts in thousands)
SUPPLEMENTAL REVENUE INFORMATION
SAFETY REVENUES
(Unaudited; Amounts in thousands)
Three Months Ended March 31, | ||||||||||||||||||||
% Change | ||||||||||||||||||||
2011 | 2010 | Reported | FXN | FX Impact | ||||||||||||||||
TOTAL SAFETY REVENUES |
||||||||||||||||||||
United States |
$ | 263,524 | $ | 263,044 | 0.2 | 0.2 | | |||||||||||||
International |
177,859 | 148,537 | 19.7 | 14.1 | 5.6 | |||||||||||||||
TOTAL |
$ | 441,383 | $ | 411,581 | 7.2 | 5.2 | 2.0 | |||||||||||||
BY SEGMENT |
||||||||||||||||||||
BD Medical |
$ | 204,866 | $ | 193,688 | 5.8 | 3.9 | 1.9 | |||||||||||||
BD Diagnostics |
236,517 | 217,893 | 8.5 | 6.3 | 2.2 | |||||||||||||||
TOTAL |
$ | 441,383 | $ | 411,581 | 7.2 | 5.2 | 2.0 | |||||||||||||
Six Months Ended March 31, | ||||||||||||||||||||
% Change | ||||||||||||||||||||
2011 | 2010 | Reported | FXN | FX Impact | ||||||||||||||||
TOTAL SAFETY REVENUES |
||||||||||||||||||||
United States |
$ | 547,306 | $ | 554,859 | (1.4 | ) | (1.4 | ) | | |||||||||||
International |
347,113 | 303,666 | 14.3 | 10.8 | 3.5 | |||||||||||||||
TOTAL |
$ | 894,419 | $ | 858,525 | 4.2 | 2.9 | 1.3 | |||||||||||||
BY SEGMENT |
||||||||||||||||||||
BD Medical |
$ | 418,175 | $ | 414,862 | 0.8 | (0.4 | ) | 1.2 | ||||||||||||
BD Diagnostics |
476,244 | 443,663 | 7.3 | 6.0 | 1.3 | |||||||||||||||
TOTAL |
$ | 894,419 | $ | 858,525 | 4.2 | 2.9 | 1.3 | |||||||||||||
Page 11
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL INFORMATION
FY2011 Quarter-to-Date Reconciliation
(Unaudited; Amounts in millions, except per share data)
SUPPLEMENTAL INFORMATION
FY2011 Quarter-to-Date Reconciliation
(Unaudited; Amounts in millions, except per share data)
Three Months Ended March 31, | ||||||||||||||||||||
Reported | Reported | Adjusted | Adjusted | |||||||||||||||||
FY 2011 | FY 2010 | Tax (1) | FY 2010 | % Growth | ||||||||||||||||
Diluted Earnings per Share from Continuing Operations |
$ | 1.38 | $ | 1.18 | $ | .04 | $ | 1.22 | 13.1 | % |
(1) | Represents a non-cash charge related to healthcare reform impacting Medicare Part D reimbursements. |
Page 12
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL INFORMATION
FY2011 Year-to-Date Reconciliation
(Unaudited; Amounts in millions, except per share data)
SUPPLEMENTAL INFORMATION
FY2011 Year-to-Date Reconciliation
(Unaudited; Amounts in millions, except per share data)
Six Months Ended March 31, | ||||||||||||||||||||
Reported | Reported | Adjusted | Adjusted | |||||||||||||||||
FY 2011 | FY 2010 | Tax (1) | FY 2010 | % Growth | ||||||||||||||||
Diluted Earnings per Share
from Continuing Operations |
$ | 2.72 | $ | 2.43 | $ | .04 | $ | 2.47 | 10.1 | % |
(1) | Represents a non-cash charge related to healthcare reform impacting Medicare Part D reimbursements. |
Page 13
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL INFORMATION
Quarter-to-Date Fiscal 2011 Reconciliation FX Impact
(Unaudited; Amounts in millions, except per share data)
SUPPLEMENTAL INFORMATION
Quarter-to-Date Fiscal 2011 Reconciliation FX Impact
(Unaudited; Amounts in millions, except per share data)
Three Months Ended March 31, | ||||||||||||||||||||||||||||||||
Adjusted | Foreign | FY10 | Adjusted | |||||||||||||||||||||||||||||
Reported | Adjusted | Growth | Currency | Hedge | Total | FXN | FXN | |||||||||||||||||||||||||
FY 2011 | FY 2010 | $ | Translation | Loss | FX | Change | Growth | |||||||||||||||||||||||||
REVENUES |
$ | 1,922 | 1,799 | 123 | 13 | 27 | 40 | 83 | 4.6 | % | ||||||||||||||||||||||
Diluted Earnings per Share
from Continuing Operations |
$ | 1.38 | 1.22 | 0.16 | (0.00 | ) | 0.07 | 0.07 | 0.09 | 7.4 | % |
All figures rounded. Totals may not add due to rounding.
Page 14
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL INFORMATION
Year-to-Date Fiscal 2011 Reconciliation FX Impact
(Unaudited; Amounts in millions, except per share data)
SUPPLEMENTAL INFORMATION
Year-to-Date Fiscal 2011 Reconciliation FX Impact
(Unaudited; Amounts in millions, except per share data)
Six Months Ended March 31, | ||||||||||||||||||||||||||||||||
Adjusted | Foreign | FY10 | Adjusted | |||||||||||||||||||||||||||||
Reported | Adjusted | Growth | Currency | Hedge | Total | FXN | FXN | |||||||||||||||||||||||||
FY 2011 | FY 2010 | $ | Translation | Loss | FX | Change | Growth | |||||||||||||||||||||||||
REVENUES |
$ | 3,764 | 3,668 | 96 | (1 | ) | 41 | 41 | 55 | 1.5 | % | |||||||||||||||||||||
Diluted Earnings per Share
from Continuing Operations |
$ | 2.72 | 2.47 | 0.25 | 0.01 | 0.11 | 0.12 | 0.13 | 5.3 | % |
All figures rounded. Totals may not add due to rounding.
Page 15
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL INFORMATION
FY2010 Year-to-Date Reconciliation
SUPPLEMENTAL INFORMATION
FY2010 Year-to-Date Reconciliation
Reported Diluted Earnings per Share
from Continuing Operations |
$ | 4.90 | ||
Tax (1)
|
0.04 | |||
Adjusted Diluted Earnings per Share
from Continuing Operations |
$ | 4.94 | ||
(1) | Represents a non-cash charge related to healthcare reform impacting Medicare Part D reimbursements. |
Page 16