EX-99.1
Published on August 2, 2011
1 Becton Drive
Franklin Lakes, NJ 07417
www.bd.com
Franklin Lakes, NJ 07417
www.bd.com
Final
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 THIRD FISCAL QUARTER
Franklin Lakes, NJ (August 2, 2011) BD (Becton, Dickinson and Company) (NYSE: BDX), a leading
global medical technology company, today reported quarterly revenues of $2.014 billion for the
third fiscal quarter ended June 30, 2011, representing an increase of 10.0 percent from the
prior-year period. On a foreign currency-neutral basis, revenues increased 4.8 percent.
We are pleased with our solid results this quarter, with all three segments contributing to
growth, said Edward J. Ludwig, Chairman and Chief Executive Officer. Gross margin expansion
reflecting favorable product mix has offset some of the headwinds we have been facing as a result
of a challenging macroeconomic environment and increased raw material costs.
1
Agreement to Acquire Carmel Pharma, AB
On July 27, 2011, the Company announced that it had signed a definitive agreement to acquire Carmel
Pharma, AB, a Swedish company that manufactures the PhaSeal® System. This is the leading
closed-system drug transfer device for the safe handling of hazardous drugs that are packaged in
vials. The acquisition is expected to close prior to the end of this fiscal year.
Third Quarter and Nine-Month Fiscal 2011 Operating Results
Reported diluted earnings per share from continuing operations for the third quarter were $1.51,
compared with $1.23 in the prior-year period, representing a 22.8 percent increase, or 13.8 percent
on a currency-neutral basis.
For the nine-month period ending June 30, 2011, reported diluted earnings per share from continuing
operations were $4.23, compared with $3.66 in the prior-year period. 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 14.3 percent, compared with adjusted diluted earnings per share from continuing
operations of $3.70 in the prior-year period, or 8.1 percent on a currency-neutral basis.
Segment Results
In the BD Medical segment, worldwide revenues for the quarter were $1.045 billion, representing an
increase of 10.5 percent compared with the prior-year period, or 4.9 percent on a foreign
currency-neutral basis. Revenues reflected strong sales of Pharmaceutical Systems products and
international
2
safety, along with solid sales of Diabetes Care products. For the nine-month period ended June 30,
2011, BD Medical revenues increased 4.0 percent, or 1.7 percent on a foreign currency-neutral
basis.
In the BD Diagnostics segment, worldwide revenues for the quarter were $631 million, representing
an increase of 9.6 percent compared with the prior-year period, or 4.8 percent on a foreign
currency-neutral basis. Revenues reflected solid growth in Preanalytical Systems safety-engineered
products and strong growth in both the Womens Health and Cancer and the Infectious Disease product
offerings in the Diagnostics Systems unit. For the nine-month period ended June 30, 2011, BD
Diagnostics revenues increased 6.4 percent, or 3.9 percent on a foreign currency-neutral basis.
In the BD Biosciences segment, worldwide revenues for the quarter were $338 million, representing
an increase of 9.3 percent compared with the prior-year period, or 4.3 percent on a foreign
currency-neutral basis. 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. The segments revenues also reflected softness in Western Europe due to
government research funding delays. For the nine-month period ended June 30, 2011, BD Biosciences
revenues increased by 5.7 percent, or 2.7 percent on a foreign currency-neutral basis.
Geographic Results
Third quarter revenues in the U.S. were $855 million, representing an increase of 5.7 percent
compared with the prior-year period. Revenues outside of the U.S. were $1.159 billion,
representing an increase of 13.4 percent compared with the prior-year period, or 4.1 percent on a
foreign currency-neutral basis. Revenues reflected continued strength in emerging markets, which
was partially offset
3
by ongoing challenging macroeconomic conditions in Western Europe. For the nine-month period ended
June 30, 2011, revenues in the U.S. were $2.513 billion, representing an increase of 2.4 percent
compared with the prior-year period. Revenues outside of the U.S. were $3.265 billion, representing
an increase of 7.2 percent compared with the prior-year period, or 2.8 percent on a foreign
currency-neutral basis.
Fiscal Year 2011 Outlook
Reported revenue growth guidance for the full fiscal year 2011 is expected to be at the higher end
of the previously communicated range of 5 to 6 percent compared with fiscal year 2010, due to the
anticipated effects of favorable currency. On a foreign currency-neutral basis, the Company is
lowering its revenue growth guidance to an increase of about 3 percent versus its previously
communicated guidance of about 3.5 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 from $5.55-$5.65 to $5.65-$5.70, an increase of
approximately 15 to 16 percent over fiscal year 2010, due to the anticipated effects of favorable
currency. Diluted earnings per share from continuing operations for fiscal year 2011 are expected
to increase 14 to 15 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 continues to expect diluted earnings per share from continuing
operations to increase about 10 percent over adjusted diluted earnings per share in the prior-year
period, despite lower than expected revenue growth and higher resin costs.
4
Conference Call Information
A conference call regarding BDs third quarter results and
its expectations will be broadcast live on BDs website, www.bd.com/investors, along with related slides,
at 8:00 a.m. (ET) Tuesday, August 2, 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 855-859-2056 (domestic) and 404-537-3406 (international)
through the close of business on Tuesday, August 9, 2011, access code 82566570.
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.
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.
***
5
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.
6
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 June 30, | ||||||||||||
2011 | 2010 | %Change | ||||||||||
REVENUES |
$ | 2,014,081 | $ | 1,830,911 | 10.0 | |||||||
Cost of products sold |
951,980 | 883,434 | 7.8 | |||||||||
Selling and administrative |
474,646 | 416,468 | 14.0 | |||||||||
Research and development |
115,748 | 108,047 | 7.1 | |||||||||
TOTAL OPERATING COSTS
AND EXPENSES |
1,542,374 | 1,407,949 | 9.5 | |||||||||
OPERATING INCOME |
471,707 | 422,962 | 11.5 | |||||||||
Interest income |
11,508 | 2,094 | NM | |||||||||
Interest expense |
(22,211 | ) | (13,085 | ) | 69.7 | |||||||
Other (expense) income, net |
(363 | ) | 1,402 | NM | ||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE
INCOME TAXES |
460,641 | 413,373 | 11.4 | |||||||||
Income tax provision |
122,531 | 119,213 | 2.8 | |||||||||
INCOME FROM CONTINUING OPERATIONS |
338,110 | 294,160 | 14.9 | |||||||||
INCOME FROM DISCONTINUED OPERATIONS
NET OF INCOME TAX PROVISION OF
$111 AND $4,340, RESPECTIVELY |
4,948 | 12,748 | (61.2 | ) | ||||||||
NET INCOME |
$ | 343,058 | $ | 306,908 | 11.8 | |||||||
EARNINGS PER SHARE |
||||||||||||
Basic: |
||||||||||||
Income from continuing operations |
$ | 1.54 | $ | 1.26 | 22.2 | |||||||
Income from discontinued operations |
$ | 0.02 | $ | 0.05 | (60.0 | ) | ||||||
Net income (1)
|
$ | 1.57 | $ | 1.32 | 18.9 | |||||||
Diluted: |
||||||||||||
Income from continuing operations |
$ | 1.51 | $ | 1.23 | 22.8 | |||||||
Income from discontinued operations |
$ | 0.02 | $ | 0.05 | (60.0 | ) | ||||||
Net income (1)
|
$ | 1.53 | $ | 1.29 | 18.6 | |||||||
AVERAGE SHARES OUTSTANDING |
||||||||||||
Basic |
218,966 | 233,242 | ||||||||||
Diluted |
223,567 | 238,319 | ||||||||||
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)
Nine Months Ended June 30, | ||||||||||||
2011 | 2010 | %Change | ||||||||||
REVENUES |
$ | 5,778,109 | $ | 5,499,138 | 5.1 | |||||||
Cost of products sold |
2,738,000 | 2,642,250 | 3.6 | |||||||||
Selling and administrative |
1,364,543 | 1,283,217 | 6.3 | |||||||||
Research and development |
350,441 | 307,391 | 14.0 | |||||||||
TOTAL OPERATING COSTS
AND EXPENSES |
4,452,984 | 4,232,858 | 5.2 | |||||||||
OPERATING INCOME |
1,325,125 | 1,266,280 | 4.6 | |||||||||
Interest income |
41,294 | 20,535 | NM | |||||||||
Interest expense |
(61,685 | ) | (38,985 | ) | 58.2 | |||||||
Other expense, net |
(7,481 | ) | (788 | ) | NM | |||||||
INCOME FROM CONTINUING OPERATIONS BEFORE
INCOME TAXES |
1,297,253 | 1,247,042 | 4.0 | |||||||||
Income tax provision |
333,804 | 363,755 | (8.2 | ) | ||||||||
INCOME FROM CONTINUING OPERATIONS |
963,449 | 883,287 | 9.1 | |||||||||
INCOME FROM DISCONTINUED OPERATIONS
NET OF INCOME TAX PROVISION OF
$711 AND $13,058, RESPECTIVELY |
7,566 | 37,628 | (79.9 | ) | ||||||||
NET INCOME |
$ | 971,015 | $ | 920,915 | 5.4 | |||||||
EARNINGS PER SHARE |
||||||||||||
Basic: |
||||||||||||
Income from continuing operations |
$ | 4.33 | $ | 3.75 | 15.5 | |||||||
Income from discontinued operations |
$ | 0.03 | $ | 0.16 | (81.3 | ) | ||||||
Net income |
$ | 4.36 | $ | 3.91 | 11.5 | |||||||
Diluted: |
||||||||||||
Income from continuing operations |
$ | 4.23 | $ | 3.66 | 15.6 | |||||||
Income from discontinued operations |
$ | 0.03 | $ | 0.16 | (81.3 | ) | ||||||
Net income |
$ | 4.26 | $ | 3.82 | 11.5 | |||||||
AVERAGE SHARES OUTSTANDING |
||||||||||||
Basic |
222,674 | 235,316 | ||||||||||
Diluted |
227,782 | 241,151 | ||||||||||
NM Not Meaningful |
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 June 30, | ||||||||||||
2011 | 2010 | %Change | ||||||||||
BD MEDICAL |
||||||||||||
United States |
$ | 416,729 | $ | 381,761 | 9.2 | |||||||
International |
628,107 | 563,761 | 11.4 | |||||||||
TOTAL |
$ | 1,044,836 | $ | 945,522 | 10.5 | |||||||
BD DIAGNOSTICS |
||||||||||||
United States |
$ | 312,802 | $ | 303,521 | 3.1 | |||||||
International |
318,557 | 272,748 | 16.8 | |||||||||
TOTAL |
$ | 631,359 | $ | 576,269 | 9.6 | |||||||
BD BIOSCIENCES |
||||||||||||
United States |
$ | 125,933 | $ | 124,146 | 1.4 | |||||||
International |
211,953 | 184,974 | 14.6 | |||||||||
TOTAL |
$ | 337,886 | $ | 309,120 | 9.3 | |||||||
TOTAL REVENUES |
||||||||||||
United States |
$ | 855,464 | $ | 809,428 | 5.7 | |||||||
International |
1,158,617 | 1,021,483 | 13.4 | |||||||||
TOTAL |
$ | 2,014,081 | $ | 1,830,911 | 10.0 | |||||||
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)
Nine Months Ended June 30, | ||||||||||||
2011 | 2010 | %Change | ||||||||||
BD MEDICAL |
||||||||||||
United States |
$ | 1,220,744 | $ | 1,196,105 | 2.1 | |||||||
International |
1,731,969 | 1,641,722 | 5.5 | |||||||||
TOTAL |
$ | 2,952,713 | $ | 2,837,827 | 4.0 | |||||||
BD DIAGNOSTICS |
||||||||||||
United States |
$ | 932,269 | $ | 906,566 | 2.8 | |||||||
International |
906,160 | 820,849 | 10.4 | |||||||||
TOTAL |
$ | 1,838,429 | $ | 1,727,415 | 6.4 | |||||||
BD BIOSCIENCES |
||||||||||||
United States |
$ | 360,234 | $ | 351,933 | 2.4 | |||||||
International |
626,733 | 581,963 | 7.7 | |||||||||
TOTAL |
$ | 986,967 | $ | 933,896 | 5.7 | |||||||
TOTAL REVENUES |
||||||||||||
United States |
$ | 2,513,247 | $ | 2,454,604 | 2.4 | |||||||
International |
3,264,862 | 3,044,534 | 7.2 | |||||||||
TOTAL |
$ | 5,778,109 | $ | 5,499,138 | 5.1 | |||||||
Page 4
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Three Months Ended June 30,
(Unaudited; Amounts in thousands)
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Three Months Ended June 30,
(Unaudited; Amounts in thousands)
United States | ||||||||||||
2011 | 2010 | %Change | ||||||||||
BD MEDICAL |
||||||||||||
Medical Surgical Systems |
$ | 244,756 | $ | 239,866 | 2.0 | |||||||
Diabetes Care |
100,465 | 96,071 | 4.6 | |||||||||
Pharmaceutical Systems |
71,508 | 45,824 | 56.0 | |||||||||
TOTAL |
$ | 416,729 | $ | 381,761 | 9.2 | |||||||
BD DIAGNOSTICS |
||||||||||||
Preanalytical Systems |
$ | 162,589 | $ | 159,228 | 2.1 | |||||||
Diagnostic Systems |
150,213 | 144,293 | 4.1 | |||||||||
TOTAL |
$ | 312,802 | $ | 303,521 | 3.1 | |||||||
BD BIOSCIENCES |
||||||||||||
Cell Analysis |
$ | 89,162 | $ | 84,365 | 5.7 | |||||||
Discovery Labware |
36,771 | 39,781 | (7.6 | ) | ||||||||
TOTAL |
$ | 125,933 | $ | 124,146 | 1.4 | |||||||
TOTAL UNITED STATES |
$ | 855,464 | $ | 809,428 | 5.7 | |||||||
Page 5
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Three Months Ended June 30, (continued)
(Unaudited; Amounts in thousands)
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Three Months Ended June 30, (continued)
(Unaudited; Amounts in thousands)
International | ||||||||||||||||||||
% Change | ||||||||||||||||||||
2011 | 2010 | Reported | FXN | FX Impact | ||||||||||||||||
BD MEDICAL |
||||||||||||||||||||
Medical Surgical Systems |
$ | 284,262 | $ | 253,687 | 12.1 | 3.0 | 9.1 | |||||||||||||
Diabetes Care |
119,719 | 101,081 | 18.4 | 7.8 | 10.6 | |||||||||||||||
Pharmaceutical Systems |
224,126 | 208,993 | 7.2 | (1.8 | ) | 9.0 | ||||||||||||||
TOTAL |
$ | 628,107 | $ | 563,761 | 11.4 | 2.1 | 9.3 | |||||||||||||
BD DIAGNOSTICS |
||||||||||||||||||||
Preanalytical Systems |
$ | 167,737 | $ | 144,298 | 16.2 | 6.0 | 10.2 | |||||||||||||
Diagnostic Systems |
150,820 | 128,450 | 17.4 | 7.5 | 9.9 | |||||||||||||||
TOTAL |
$ | 318,557 | $ | 272,748 | 16.8 | 6.7 | 10.1 | |||||||||||||
BD BIOSCIENCES |
||||||||||||||||||||
Cell Analysis |
$ | 165,866 | $ | 146,068 | 13.6 | 5.5 | 8.1 | |||||||||||||
Discovery Labware |
46,087 | 38,906 | 18.5 | 8.9 | 9.6 | |||||||||||||||
TOTAL |
$ | 211,953 | $ | 184,974 | 14.6 | 6.2 | 8.4 | |||||||||||||
TOTAL INTERNATIONAL |
$ | 1,158,617 | $ | 1,021,483 | 13.4 | 4.1 | 9.3 | |||||||||||||
Page 6
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Three Months Ended June 30, (continued)
(Unaudited; Amounts in thousands)
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Three Months Ended June 30, (continued)
(Unaudited; Amounts in thousands)
Total | |||||||||||||||||||||
% Change | |||||||||||||||||||||
2011 | 2010 | Reported | FXN | FX Impact | |||||||||||||||||
BD MEDICAL |
|||||||||||||||||||||
Medical Surgical Systems |
$ | 529,018 | $ | 493,553 | 7.2 | 2.5 | 4.7 | ||||||||||||||
Diabetes Care |
220,184 | 197,152 | 11.7 | 6.2 | 5.5 | ||||||||||||||||
Pharmaceutical Systems |
295,634 | 254,817 | 16.0 | 8.6 | 7.4 | ||||||||||||||||
TOTAL |
$ | 1,044,836 | $ | 945,522 | 10.5 | 4.9 | 5.6 | ||||||||||||||
BD DIAGNOSTICS |
|||||||||||||||||||||
Preanalytical Systems |
$ | 330,326 | $ | 303,526 | 8.8 | 4.0 | 4.8 | ||||||||||||||
Diagnostic Systems |
301,033 | 272,743 | 10.4 | 5.7 | 4.7 | ||||||||||||||||
TOTAL |
$ | 631,359 | $ | 576,269 | 9.6 | 4.8 | 4.8 | ||||||||||||||
BD BIOSCIENCES |
|||||||||||||||||||||
Cell Analysis |
$ | 255,028 | $ | 230,433 | 10.7 | 5.6 | 5.1 | ||||||||||||||
Discovery Labware |
82,858 | 78,687 | 5.3 | 0.6 | 4.7 | ||||||||||||||||
TOTAL |
$ | 337,886 | $ | 309,120 | 9.3 | 4.3 | 5.0 | ||||||||||||||
TOTAL REVENUES |
$ | 2,014,081 | $ | 1,830,911 | 10.0 | 4.8 | 5.2 | ||||||||||||||
Page 7
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Nine Months Ended June 30,
(Unaudited; Amounts in thousands)
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Nine Months Ended June 30,
(Unaudited; Amounts in thousands)
United States | ||||||||||||
2011 | 2010 | %Change | ||||||||||
BD MEDICAL |
||||||||||||
Medical Surgical Systems |
$ | 733,582 | $ | 751,032 | (2.3 | ) | ||||||
Diabetes Care |
295,989 | 285,150 | 3.8 | |||||||||
Pharmaceutical Systems |
191,173 | 159,923 | 19.5 | |||||||||
TOTAL |
$ | 1,220,744 | $ | 1,196,105 | 2.1 | |||||||
BD DIAGNOSTICS |
||||||||||||
Preanalytical Systems |
$ | 481,624 | $ | 465,395 | 3.5 | |||||||
Diagnostic Systems |
450,645 | 441,171 | 2.1 | |||||||||
TOTAL |
$ | 932,269 | $ | 906,566 | 2.8 | |||||||
BD BIOSCIENCES |
||||||||||||
Cell Analysis |
$ | 252,423 | $ | 240,152 | 5.1 | |||||||
Discovery Labware |
107,811 | 111,781 | (3.6 | ) | ||||||||
TOTAL |
$ | 360,234 | $ | 351,933 | 2.4 | |||||||
TOTAL UNITED STATES |
$ | 2,513,247 | $ | 2,454,604 | 2.4 | |||||||
Page 8
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Nine Months Ended June 30, (continued)
(Unaudited; Amounts in thousands)
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Nine Months Ended June 30, (continued)
(Unaudited; Amounts in thousands)
International | ||||||||||||||||||||
% Change | ||||||||||||||||||||
2011 | 2010 | Reported | FXN | FX Impact | ||||||||||||||||
BD MEDICAL |
||||||||||||||||||||
Medical Surgical Systems |
$ | 812,752 | $ | 756,963 | 7.4 | 2.1 | 5.3 | |||||||||||||
Diabetes Care |
345,837 | 301,508 | 14.7 | 9.6 | 5.1 | |||||||||||||||
Pharmaceutical Systems |
573,380 | 583,251 | (1.7 | ) | (3.5 | ) | 1.8 | |||||||||||||
TOTAL |
$ | 1,731,969 | $ | 1,641,722 | 5.5 | 1.5 | 4.0 | |||||||||||||
BD DIAGNOSTICS |
||||||||||||||||||||
Preanalytical Systems |
$ | 467,570 | $ | 425,967 | 9.8 | 4.6 | 5.2 | |||||||||||||
Diagnostic Systems |
438,590 | 394,882 | 11.1 | 5.7 | 5.4 | |||||||||||||||
TOTAL |
$ | 906,160 | $ | 820,849 | 10.4 | 5.2 | 5.2 | |||||||||||||
BD BIOSCIENCES |
||||||||||||||||||||
Cell Analysis |
$ | 498,864 | $ | 464,091 | 7.5 | 3.1 | 4.4 | |||||||||||||
Discovery Labware |
127,869 | 117,872 | 8.5 | 2.3 | 6.2 | |||||||||||||||
TOTAL |
$ | 626,733 | $ | 581,963 | 7.7 | 2.9 | 4.8 | |||||||||||||
TOTAL INTERNATIONAL |
$ | 3,264,862 | $ | 3,044,534 | 7.2 | 2.8 | 4.4 | |||||||||||||
Page 9
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Nine Months Ended June 30, (continued)
(Unaudited; Amounts in thousands)
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Nine Months Ended June 30, (continued)
(Unaudited; Amounts in thousands)
Total | ||||||||||||||||||||
% Change | ||||||||||||||||||||
2011 | 2010 | Reported | FXN | FX Impact | ||||||||||||||||
BD MEDICAL |
||||||||||||||||||||
Medical Surgical Systems |
$ | 1,546,334 | $ | 1,507,995 | 2.5 | (0.1 | ) | 2.6 | ||||||||||||
Diabetes Care |
641,826 | 586,658 | 9.4 | 6.8 | 2.6 | |||||||||||||||
Pharmaceutical Systems |
764,553 | 743,174 | 2.9 | 1.5 | 1.4 | |||||||||||||||
TOTAL |
$ | 2,952,713 | $ | 2,837,827 | 4.0 | 1.7 | 2.3 | |||||||||||||
BD DIAGNOSTICS |
||||||||||||||||||||
Preanalytical Systems |
$ | 949,194 | $ | 891,362 | 6.5 | 4.0 | 2.5 | |||||||||||||
Diagnostic Systems |
889,235 | 836,053 | 6.4 | 3.8 | 2.6 | |||||||||||||||
TOTAL |
$ | 1,838,429 | $ | 1,727,415 | 6.4 | 3.9 | 2.5 | |||||||||||||
BD BIOSCIENCES |
||||||||||||||||||||
Cell Analysis |
$ | 751,287 | $ | 704,243 | 6.7 | 3.8 | 2.9 | |||||||||||||
Discovery Labware |
235,680 | 229,653 | 2.6 | (0.5 | ) | 3.1 | ||||||||||||||
TOTAL |
$ | 986,967 | $ | 933,896 | 5.7 | 2.7 | 3.0 | |||||||||||||
TOTAL REVENUES |
$ | 5,778,109 | $ | 5,499,138 | 5.1 | 2.6 | 2.5 | |||||||||||||
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 June 30, | ||||||||||||||||||||
% Change | ||||||||||||||||||||
2011 | 2010 | Reported | FXN | FX Impact | ||||||||||||||||
TOTAL SAFETY
REVENUES |
||||||||||||||||||||
United States |
$ | 280,696 | $ | 270,604 | 3.7 | 3.7 | | |||||||||||||
International |
198,417 | 157,851 | 25.7 | 14.1 | 11.6 | |||||||||||||||
TOTAL |
$ | 479,113 | $ | 428,455 | 11.8 | 7.6 | 4.2 | |||||||||||||
BY SEGMENT |
||||||||||||||||||||
BD Medical |
$ | 223,460 | $ | 195,400 | 14.4 | 10.4 | 4.0 | |||||||||||||
BD Diagnostics |
255,653 | 233,055 | 9.7 | 5.2 | 4.5 | |||||||||||||||
TOTAL |
$ | 479,113 | $ | 428,455 | 11.8 | 7.6 | 4.2 | |||||||||||||
Nine Months Ended June 30, | ||||||||||||||||||||
% Change | ||||||||||||||||||||
2011 | 2010 | Reported | FXN | FX Impact | ||||||||||||||||
TOTAL SAFETY
REVENUES |
||||||||||||||||||||
United States |
$ | 828,002 | $ | 825,463 | 0.3 | 0.3 | | |||||||||||||
International |
545,530 | 461,517 | 18.2 | 11.9 | 6.3 | |||||||||||||||
TOTAL |
$ | 1,373,532 | $ | 1,286,980 | 6.7 | 4.5 | 2.2 | |||||||||||||
BY SEGMENT |
||||||||||||||||||||
BD Medical |
$ | 641,635 | $ | 610,262 | 5.1 | 3.0 | 2.1 | |||||||||||||
BD Diagnostics |
731,897 | 676,718 | 8.2 | 5.8 | 2.4 | |||||||||||||||
TOTAL |
$ | 1,373,532 | $ | 1,286,980 | 6.7 | 4.5 | 2.2 | |||||||||||||
Page 11
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)
Nine Months Ended June 30, | ||||||||||||||||||||
Reported | Reported | Adjusted | Adjusted | |||||||||||||||||
FY 2011 | FY 2010 | Tax (1) | FY 2010 | %Growth | ||||||||||||||||
Diluted Earnings
per Share |
||||||||||||||||||||
from Continuing
Operations |
$ | 4.23 | $ | 3.66 | $ | 0.04 | $ | 3.70 | 14.3 | % |
(1) | Represents a non-cash charge related to healthcare reform impacting Medicare Part D reimbursements. |
Page 12
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 June 30, | ||||||||||||||||||||||||||||||||
Reported | Reported | Reported Growth | Foreign Currency | FY10 Hedge | Total | FXN | FXN | |||||||||||||||||||||||||
FY 2011 | FY 2010 | $ | Translation | Loss | FX | Change | Growth | |||||||||||||||||||||||||
REVENUES |
$ | 2,014 | $ | 1,831 | $ | 183 | $ | 94 | $ | 1 | $ | 96 | $ | 88 | 4.8 | % | ||||||||||||||||
Diluted Earnings
per Share from Continuing
Operations |
$ | 1.51 | $ | 1.23 | $ | 0.28 | $ | 0.11 | $ | 0.00 | $ | 0.11 | $ | 0.17 | 13.8 | % |
All
figures rounded. Totals may not add due to rounding.
FXN = Foreign Currency Neutral
FXN = Foreign Currency Neutral
Page 13
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL INFORMATION
Year-to-Date Fiscal 2011 Reconciliation FX Impact
(Unaudited; Amounts in millions, except per share data)
Nine Months Ended June 30, | |||||||||||||||||||||||||||||||||
Adjusted | Foreign | FY10 | Adjusted | ||||||||||||||||||||||||||||||
Reported | Adjusted | Growth | Currency | Hedge | Total | FXN | FXN | ||||||||||||||||||||||||||
FY 2011 | FY 2010 | $ | Translation | Loss | FX | Change | Growth | ||||||||||||||||||||||||||
REVENUES |
$ | 5,778 | $ | 5,499 | $ | 279 | $ | 94 | $ | 43 | $ | 136 | $ | 143 | 2.6 | % | |||||||||||||||||
Diluted Earnings per Share |
|||||||||||||||||||||||||||||||||
from Continuing Operations |
$ | 4.23 | $ | 3.70 | $ | 0.53 | $ | 0.12 | $ | 0.11 | $ | 0.23 | $ | 0.30 | 8.1 | % | |||||||||||||||||
All figures rounded. Totals may not add due to rounding.
FXN = Foreign Currency Neutral
Page 14
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL INFORMATION
FY2010 Total Year 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 15