EX-99.1
Published on November 2, 2011
Exhibit
99.1
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 FOURTH FISCAL QUARTER AND FULL YEAR
Franklin Lakes, NJ (November 2, 2011) BD (Becton, Dickinson and Company) (NYSE: BDX), a leading
global medical technology company, today reported quarterly revenues of $2.051 billion for the
fourth fiscal quarter ended September 30, 2011, representing an increase of 9.5 percent from the
prior-year period, or 4.0 percent on a foreign currency-neutral basis.
For the full fiscal year ended September 30, 2011, BD reported revenues of $7.829 billion,
representing an increase of 6.2 percent over the prior year. On a foreign currency-neutral basis,
revenues increased 2.9 percent, despite an unfavorable comparison to the prior year of about 2.0
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 finish to fiscal year 2011. Despite a challenging business
environment, all segments contributed to our success and growth, said Vincent A. Forlenza, Chief
Executive Officer and President. We will continue to drive operational efficiencies and make
capital and R&D investments to support our innovation strategy as we look to fiscal year 2012 and
beyond.
Update on the Acquisition of Carmel Pharma, AB
As announced in August 2011, the Company completed the acquisition of Carmel Pharma, AB, a Swedish company that manufactures the BD PhaSeal System. This is the leading closed-system drug transfer device for the safe handling of hazardous drugs that are packaged in vials. The financial impact of the acquisition on our fourth quarter results was in line with our guidance.
As announced in August 2011, the Company completed the acquisition of Carmel Pharma, AB, a Swedish company that manufactures the BD PhaSeal System. This is the leading closed-system drug transfer device for the safe handling of hazardous drugs that are packaged in vials. The financial impact of the acquisition on our fourth quarter results was in line with our guidance.
Fourth Quarter Earnings and Analysis of the Full Fiscal Year 2011 and 2010 Earnings
Reported diluted earnings per share from continuing operations for the fourth quarter were $1.36, compared with $1.24 in the prior-year period, representing a 9.7 percent increase. Current quarter results included a non-cash charge of $9 million, or $0.03 per share from continuing operations, resulting from the discontinuance of a research program within the Diagnostic Systems unit. Excluding this item, adjusted diluted earnings per share from continuing operations increased by 12.1 percent to $1.39, compared with $1.24 in the prior-year period. On a foreign currency-neutral basis, adjusted diluted earnings per share from continuing operations for the fourth quarter increased by 8.1 percent.
Reported diluted earnings per share from continuing operations for the fourth quarter were $1.36, compared with $1.24 in the prior-year period, representing a 9.7 percent increase. Current quarter results included a non-cash charge of $9 million, or $0.03 per share from continuing operations, resulting from the discontinuance of a research program within the Diagnostic Systems unit. Excluding this item, adjusted diluted earnings per share from continuing operations increased by 12.1 percent to $1.39, compared with $1.24 in the prior-year period. On a foreign currency-neutral basis, adjusted diluted earnings per share from continuing operations for the fourth quarter increased by 8.1 percent.
For the full fiscal year ended September 30, 2011, reported diluted earnings per share from
continuing operations were $5.59, compared with $4.90 in the prior fiscal year, representing an
increase of 14.1
percent. Excluding the aforementioned charge of $9 million, or $0.03 per share from continuing
operations, and the 2010 fiscal year charge of $0.04 per share from continuing operations related
to healthcare reform impacting Medicare Part D reimbursements, adjusted diluted earnings per share
from continuing operations increased by 13.8 percent to $5.62, compared with $4.94 in the
prior-year period. On a foreign currency-neutral basis, adjusted diluted earnings per share from
continuing operations for the fiscal year increased 8.1 percent.
Segment Results
In the BD Medical segment, worldwide revenues for the quarter were $1.055 billion, representing an increase of 10.0 percent compared with the prior-year period. Revenues increased 3.8 percent on a foreign currency-neutral basis. Segment revenue growth reflected strong Diabetes Care and international safety sales, along with solid sales of Pharmaceutical Systems products. For the twelve-month period ended September 30, 2011, BD Medical revenues increased 5.6 percent, or 2.3 percent on a foreign currency-neutral basis.
In the BD Medical segment, worldwide revenues for the quarter were $1.055 billion, representing an increase of 10.0 percent compared with the prior-year period. Revenues increased 3.8 percent on a foreign currency-neutral basis. Segment revenue growth reflected strong Diabetes Care and international safety sales, along with solid sales of Pharmaceutical Systems products. For the twelve-month period ended September 30, 2011, BD Medical revenues increased 5.6 percent, or 2.3 percent on a foreign currency-neutral basis.
In the BD Diagnostics segment, worldwide revenues for the quarter were $642 million, representing
an increase of 8.6 percent compared with the prior-year period, or 3.8 percent on a foreign
currency-neutral basis. Revenues reflected solid growth in both the Womens Health and Cancer and
the Infectious Disease product offerings within the Diagnostic Systems unit. For the twelve-month
period ended September 30, 2011, BD Diagnostics revenues increased 7.0 percent, or 3.9 percent on a
foreign currency-neutral basis.
In the BD Biosciences segment, worldwide revenues for the quarter were $354 million, representing
an increase of 9.6 percent compared with the prior-year period. Revenues increased 4.7 percent on a
foreign currency-neutral basis, primarily driven by instrument and reagent sales in the Cell
Analysis unit. For the twelve-month period ended September 30, 2011, BD Biosciences revenues
increased 6.7 percent, or 3.2 percent on a foreign currency-neutral basis.
Geographic Results
Fourth quarter revenues in the U.S. were $843 million, representing an increase of 1.3 percent compared with the prior-year period. Revenues outside of the U.S. were $1.208 billion, representing an increase of 16.0 percent compared with the prior-year period, or 6.1 percent on a foreign currency-neutral basis. International revenue growth was driven by continued strength in safety sales and strong growth in emerging markets. For the twelve-month period ended September 30, 2011, revenues in the U.S. were $3.356 billion, representing an increase of 2.1 percent compared with the prior-year period. Revenues outside of the U.S. were $4.473 billion, representing an increase of 9.5 percent compared with the prior-year period, or 3.6 percent on a foreign currency-neutral basis.
Fourth quarter revenues in the U.S. were $843 million, representing an increase of 1.3 percent compared with the prior-year period. Revenues outside of the U.S. were $1.208 billion, representing an increase of 16.0 percent compared with the prior-year period, or 6.1 percent on a foreign currency-neutral basis. International revenue growth was driven by continued strength in safety sales and strong growth in emerging markets. For the twelve-month period ended September 30, 2011, revenues in the U.S. were $3.356 billion, representing an increase of 2.1 percent compared with the prior-year period. Revenues outside of the U.S. were $4.473 billion, representing an increase of 9.5 percent compared with the prior-year period, or 3.6 percent on a foreign currency-neutral basis.
Fiscal 2012 Outlook for Full Year
The Company estimates that reported revenues for the full fiscal year 2012 will increase about 1 to 3 percent, or 2 to 4 percent on a foreign currency-neutral basis. Our guidance reflects the anticipated effects of lower healthcare utilization, reduced research funding and global macroeconomic conditions. The Company expects reported diluted earnings per share from continuing operations for fiscal year 2012 to be between $5.75 and $5.85. The Company also plans to repurchase, subject to
The Company estimates that reported revenues for the full fiscal year 2012 will increase about 1 to 3 percent, or 2 to 4 percent on a foreign currency-neutral basis. Our guidance reflects the anticipated effects of lower healthcare utilization, reduced research funding and global macroeconomic conditions. The Company expects reported diluted earnings per share from continuing operations for fiscal year 2012 to be between $5.75 and $5.85. The Company also plans to repurchase, subject to
market conditions, $1.5 billion of its common stock in fiscal year 2012, and fund the repurchases
through ongoing cash flow and the issuance of debt.
Conference Call Information
A conference call regarding BDs fourth quarter results and its expectations for the full fiscal year 2012 will be broadcast live on BDs website, www.bd.com/investors, along with related slides, at 8:00 a.m. (ET) Wednesday, November 2, 2011. The slides will be 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 Wednesday, November 9, 2011, access code 16826583.
A conference call regarding BDs fourth quarter results and its expectations for the full fiscal year 2012 will be broadcast live on BDs website, www.bd.com/investors, along with related slides, at 8:00 a.m. (ET) Wednesday, November 2, 2011. The slides will be 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 Wednesday, November 9, 2011, access code 16826583.
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.
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.
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 2012 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. 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 unknown consequences of 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 our 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 downturn on our
ability to access credit markets and finance our operations, the demand for our products and
services as a result of reduced government funding, lower utilization rates or otherwise, or our
suppliers ability to provide products needed for our 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 our 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; our ability to successfully integrate any businesses we acquire; and issuance of new or
revised accounting standards, as well as other factors discussed in BDs filings with the
Securities and Exchange Commission. We do not intend to update any forward-looking statements to
reflect events or circumstances after the date hereof except as required by applicable laws or
regulations.
BECTON DICKINSON AND COMPANY
CONSOLIDATED INCOME STATEMENTS
(Unaudited; Amounts in thousands, except per share data)
CONSOLIDATED INCOME STATEMENTS
(Unaudited; Amounts in thousands, except per share data)
| Three Months Ended September 30, | ||||||||||||
| 2011 | 2010 | % Change | ||||||||||
REVENUES |
$ | 2,050,795 | $ | 1,873,195 | 9.5 | |||||||
Cost of products sold |
999,352 | 900,933 | 10.9 | |||||||||
Selling and administrative |
487,232 | 438,139 | 11.2 | |||||||||
Research and development |
126,054 | 123,606 | 2.0 | |||||||||
TOTAL OPERATING COSTS
AND EXPENSES |
1,612,638 | 1,462,678 | 10.3 | |||||||||
OPERATING INCOME |
438,157 | 410,517 | 6.7 | |||||||||
Interest income |
1,915 | 14,594 | (86.9 | ) | ||||||||
Interest expense |
(22,334 | ) | (12,278 | ) | 81.9 | |||||||
Other income, net |
1,272 | 1,285 | (1.0 | ) | ||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE
INCOME TAXES |
419,010 | 414,118 | 1.2 | |||||||||
Income tax provision |
117,606 | 121,065 | (2.9 | ) | ||||||||
INCOME FROM CONTINUING OPERATIONS |
301,404 | 293,053 | 2.8 | |||||||||
(LOSS) INCOME FROM DISCONTINUED OPERATIONS
NET OF INCOME TAX PROVISION OF
$81 AND $27,645, RESPECTIVELY |
(1,424 | ) | 103,642 | NM | ||||||||
NET INCOME |
$ | 299,980 | $ | 396,695 | (24.4 | ) | ||||||
EARNINGS PER SHARE |
||||||||||||
Basic: |
||||||||||||
Income from continuing operations |
$ | 1.39 | $ | 1.27 | 9.4 | |||||||
(Loss) Income from discontinued operations |
$ | (0.01 | ) | $ | 0.45 | NM | ||||||
Net income (1)
|
$ | 1.38 | $ | 1.71 | (19.3 | ) | ||||||
Diluted: |
||||||||||||
Income from continuing operations |
$ | 1.36 | $ | 1.24 | 9.7 | |||||||
(Loss) Income from discontinued operations |
$ | (0.01 | ) | $ | 0.44 | NM | ||||||
Net income (1)
|
$ | 1.36 | $ | 1.68 | (19.0 | ) | ||||||
AVERAGE SHARES OUTSTANDING |
||||||||||||
Basic |
216,726 | 231,396 | ||||||||||
Diluted |
220,859 | 236,316 | ||||||||||
| 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)
| Twelve Months Ended September 30, | ||||||||||||
| 2011 | 2010 | % Change | ||||||||||
REVENUES |
$ | 7,828,904 | $ | 7,372,333 | 6.2 | |||||||
Cost of products sold |
3,737,352 | 3,543,183 | 5.5 | |||||||||
Selling and administrative |
1,851,774 | 1,721,356 | 7.6 | |||||||||
Research and development |
476,496 | 430,997 | 10.6 | |||||||||
TOTAL OPERATING COSTS
AND EXPENSES |
6,065,622 | 5,695,536 | 6.5 | |||||||||
OPERATING INCOME |
1,763,282 | 1,676,797 | 5.2 | |||||||||
Interest income |
43,209 | 35,129 | 23.0 | |||||||||
Interest expense |
(84,019 | ) | (51,263 | ) | 63.9 | |||||||
Other (expense) income, net |
(6,209 | ) | 497 | NM | ||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE
INCOME TAXES |
1,716,263 | 1,661,160 | 3.3 | |||||||||
Income tax provision |
451,411 | 484,820 | (6.9 | ) | ||||||||
INCOME FROM CONTINUING OPERATIONS |
1,264,852 | 1,176,340 | 7.5 | |||||||||
INCOME FROM DISCONTINUED OPERATIONS
NET OF INCOME TAX PROVISION OF
$792 AND $40,703, RESPECTIVELY |
6,142 | 141,270 | NM | |||||||||
NET INCOME |
$ | 1,270,994 | $ | 1,317,610 | (3.5 | ) | ||||||
EARNINGS PER SHARE |
||||||||||||
Basic: |
||||||||||||
Income from continuing operations |
$ | 5.72 | $ | 5.02 | 13.9 | |||||||
Income from discontinued operations |
$ | 0.03 | $ | 0.60 | (95.0 | ) | ||||||
Net income |
$ | 5.75 | $ | 5.62 | 2.3 | |||||||
Diluted: |
||||||||||||
Income from continuing operations |
$ | 5.59 | $ | 4.90 | 14.1 | |||||||
Income from discontinued operations |
$ | 0.03 | $ | 0.59 | (94.9 | ) | ||||||
Net income |
$ | 5.62 | $ | 5.49 | 2.4 | |||||||
AVERAGE SHARES OUTSTANDING |
||||||||||||
Basic |
221,175 | 234,328 | ||||||||||
Diluted |
226,280 | 240,136 | ||||||||||
| 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 September 30, | ||||||||||||
| 2011 | 2010 | % Change | ||||||||||
BD MEDICAL |
||||||||||||
United States |
$ | 404,301 | $ | 400,231 | 1.0 | |||||||
International |
650,290 | 558,374 | 16.5 | |||||||||
TOTAL |
$ | 1,054,591 | $ | 958,605 | 10.0 | |||||||
BD DIAGNOSTICS |
||||||||||||
United States |
$ | 313,603 | $ | 307,721 | 1.9 | |||||||
International |
328,445 | 283,743 | 15.8 | |||||||||
TOTAL |
$ | 642,048 | $ | 591,464 | 8.6 | |||||||
BD BIOSCIENCES |
||||||||||||
United States |
$ | 124,619 | $ | 124,009 | 0.5 | |||||||
International |
229,537 | 199,117 | 15.3 | |||||||||
TOTAL |
$ | 354,156 | $ | 323,126 | 9.6 | |||||||
TOTAL REVENUES |
||||||||||||
United States |
$ | 842,523 | $ | 831,961 | 1.3 | |||||||
International |
1,208,272 | 1,041,234 | 16.0 | |||||||||
TOTAL |
$ | 2,050,795 | $ | 1,873,195 | 9.5 | |||||||
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)
| Twelve Months Ended September 30, | ||||||||||||
| 2011 | 2010 | % Change | ||||||||||
BD MEDICAL |
||||||||||||
United States |
$ | 1,625,044 | $ | 1,596,336 | 1.8 | |||||||
International |
2,382,260 | 2,200,096 | 8.3 | |||||||||
TOTAL |
$ | 4,007,304 | $ | 3,796,432 | 5.6 | |||||||
BD DIAGNOSTICS |
||||||||||||
United States |
$ | 1,245,872 | $ | 1,214,288 | 2.6 | |||||||
International |
1,234,605 | 1,104,591 | 11.8 | |||||||||
TOTAL |
$ | 2,480,477 | $ | 2,318,879 | 7.0 | |||||||
BD BIOSCIENCES |
||||||||||||
United States |
$ | 484,853 | $ | 475,941 | 1.9 | |||||||
International |
856,270 | 781,081 | 9.6 | |||||||||
TOTAL |
$ | 1,341,123 | $ | 1,257,022 | 6.7 | |||||||
TOTAL REVENUES |
||||||||||||
United States |
$ | 3,355,769 | $ | 3,286,565 | 2.1 | |||||||
International |
4,473,135 | 4,085,768 | 9.5 | |||||||||
TOTAL |
$ | 7,828,904 | $ | 7,372,333 | 6.2 | |||||||
Page 4
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Three Months Ended September 30,
(Unaudited; Amounts in thousands)
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Three Months Ended September 30,
(Unaudited; Amounts in thousands)
| United States | ||||||||||||
| 2011 | 2010 | % Change | ||||||||||
BD MEDICAL |
||||||||||||
Medical Surgical Systems |
$ | 246,746 | $ | 256,290 | (3.7 | ) | ||||||
Diabetes Care |
104,819 | 98,633 | 6.3 | |||||||||
Pharmaceutical Systems |
52,736 | 45,308 | 16.4 | |||||||||
TOTAL |
$ | 404,301 | $ | 400,231 | 1.0 | |||||||
BD DIAGNOSTICS |
||||||||||||
Preanalytical Systems |
$ | 161,556 | $ | 162,024 | (0.3 | ) | ||||||
Diagnostic Systems |
152,047 | 145,697 | 4.4 | |||||||||
TOTAL |
$ | 313,603 | $ | 307,721 | 1.9 | |||||||
BD BIOSCIENCES |
||||||||||||
Cell Analysis |
$ | 89,899 | $ | 86,765 | 3.6 | |||||||
Discovery Labware |
34,720 | 37,244 | (6.8 | ) | ||||||||
TOTAL |
$ | 124,619 | $ | 124,009 | 0.5 | |||||||
TOTAL UNITED STATES |
$ | 842,523 | $ | 831,961 | 1.3 | |||||||
Page 5
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Three Months Ended September 30, (continued)
(Unaudited; Amounts in thousands)
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Three Months Ended September 30, (continued)
(Unaudited; Amounts in thousands)
| International | ||||||||||||||||||||
| % Change | ||||||||||||||||||||
| 2011 | 2010 | Reported | FXN | FX Impact | ||||||||||||||||
BD MEDICAL |
||||||||||||||||||||
Medical Surgical Systems |
$ | 288,653 | $ | 245,724 | 17.5 | 7.8 | 9.7 | |||||||||||||
Diabetes Care |
119,832 | 100,468 | 19.3 | 7.6 | 11.7 | |||||||||||||||
Pharmaceutical Systems |
241,805 | 212,182 | 14.0 | 2.5 | 11.5 | |||||||||||||||
TOTAL |
$ | 650,290 | $ | 558,374 | 16.5 | 5.8 | 10.7 | |||||||||||||
BD DIAGNOSTICS |
||||||||||||||||||||
Preanalytical Systems |
$ | 167,044 | $ | 144,421 | 15.7 | 5.7 | 10.0 | |||||||||||||
Diagnostic Systems |
161,401 | 139,322 | 15.8 | 6.2 | 9.6 | |||||||||||||||
TOTAL |
$ | 328,445 | $ | 283,743 | 15.8 | 5.9 | 9.9 | |||||||||||||
BD BIOSCIENCES |
||||||||||||||||||||
Cell Analysis |
$ | 183,259 | $ | 160,230 | 14.4 | 6.8 | 7.6 | |||||||||||||
Discovery Labware |
46,278 | 38,887 | 19.0 | 9.5 | 9.5 | |||||||||||||||
TOTAL |
$ | 229,537 | $ | 199,117 | 15.3 | 7.3 | 8.0 | |||||||||||||
TOTAL INTERNATIONAL |
$ | 1,208,272 | $ | 1,041,234 | 16.0 | 6.1 | 9.9 | |||||||||||||
Page 6
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Three Months Ended September 30, (continued)
(Unaudited; Amounts in thousands)
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Three Months Ended September 30, (continued)
(Unaudited; Amounts in thousands)
| Total | ||||||||||||||||||||
| % Change | ||||||||||||||||||||
| 2011 | 2010 | Reported | FXN | FX Impact | ||||||||||||||||
BD MEDICAL |
||||||||||||||||||||
Medical Surgical Systems |
$ | 535,399 | $ | 502,014 | 6.7 | 1.9 | 4.8 | |||||||||||||
Diabetes Care |
224,651 | 199,101 | 12.8 | 7.0 | 5.8 | |||||||||||||||
Pharmaceutical Systems |
294,541 | 257,490 | 14.4 | 4.9 | 9.5 | |||||||||||||||
TOTAL |
$ | 1,054,591 | $ | 958,605 | 10.0 | 3.8 | 6.2 | |||||||||||||
BD DIAGNOSTICS |
||||||||||||||||||||
Preanalytical Systems |
$ | 328,600 | $ | 306,445 | 7.2 | 2.5 | 4.7 | |||||||||||||
Diagnostic Systems |
313,448 | 285,019 | 10.0 | 5.2 | 4.8 | |||||||||||||||
TOTAL |
$ | 642,048 | $ | 591,464 | 8.6 | 3.8 | 4.8 | |||||||||||||
BD BIOSCIENCES |
||||||||||||||||||||
Cell Analysis |
$ | 273,158 | $ | 246,995 | 10.6 | 5.7 | 4.9 | |||||||||||||
Discovery Labware |
80,998 | 76,131 | 6.4 | 1.6 | 4.8 | |||||||||||||||
TOTAL |
$ | 354,156 | $ | 323,126 | 9.6 | 4.7 | 4.9 | |||||||||||||
TOTAL REVENUES |
$ | 2,050,795 | $ | 1,873,195 | 9.5 | 4.0 | 5.5 | |||||||||||||
Page 7
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Twelve Months Ended September 30,
(Unaudited; Amounts in thousands)
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Twelve Months Ended September 30,
(Unaudited; Amounts in thousands)
| United States | ||||||||||||
| 2011 | 2010 | % Change | ||||||||||
BD MEDICAL |
||||||||||||
Medical Surgical Systems |
$ | 980,326 | $ | 1,007,322 | (2.7 | ) | ||||||
Diabetes Care |
400,809 | 383,783 | 4.4 | |||||||||
Pharmaceutical Systems |
243,909 | 205,231 | 18.8 | |||||||||
TOTAL |
$ | 1,625,044 | $ | 1,596,336 | 1.8 | |||||||
BD DIAGNOSTICS |
||||||||||||
Preanalytical Systems |
$ | 643,180 | $ | 627,421 | 2.5 | |||||||
Diagnostic Systems |
602,692 | 586,867 | 2.7 | |||||||||
TOTAL |
$ | 1,245,872 | $ | 1,214,288 | 2.6 | |||||||
BD BIOSCIENCES |
||||||||||||
Cell Analysis |
$ | 342,322 | $ | 326,916 | 4.7 | |||||||
Discovery Labware |
142,531 | 149,025 | (4.4 | ) | ||||||||
TOTAL |
$ | 484,853 | $ | 475,941 | 1.9 | |||||||
TOTAL UNITED STATES |
$ | 3,355,769 | $ | 3,286,565 | 2.1 | |||||||
Page 8
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Twelve Months Ended September 30, (continued)
(Unaudited; Amounts in thousands)
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Twelve Months Ended September 30, (continued)
(Unaudited; Amounts in thousands)
| International | ||||||||||||||||||||
| % Change | ||||||||||||||||||||
| 2011 | 2010 | Reported | FXN | FX Impact | ||||||||||||||||
BD MEDICAL |
||||||||||||||||||||
Medical Surgical Systems |
$ | 1,101,407 | $ | 1,002,687 | 9.8 | 3.5 | 6.3 | |||||||||||||
Diabetes Care |
465,668 | 401,976 | 15.8 | 9.1 | 6.7 | |||||||||||||||
Pharmaceutical Systems |
815,185 | 795,433 | 2.5 | (1.9 | ) | 4.4 | ||||||||||||||
TOTAL |
$ | 2,382,260 | $ | 2,200,096 | 8.3 | 2.6 | 5.7 | |||||||||||||
BD DIAGNOSTICS |
||||||||||||||||||||
Preanalytical Systems |
$ | 634,613 | $ | 570,386 | 11.3 | 4.9 | 6.4 | |||||||||||||
Diagnostic Systems |
599,992 | 534,205 | 12.3 | 5.8 | 6.5 | |||||||||||||||
TOTAL |
$ | 1,234,605 | $ | 1,104,591 | 11.8 | 5.4 | 6.4 | |||||||||||||
BD BIOSCIENCES |
||||||||||||||||||||
Cell Analysis |
$ | 682,123 | $ | 624,322 | 9.3 | 4.0 | 5.3 | |||||||||||||
Discovery Labware |
174,147 | 156,759 | 11.1 | 4.1 | 7.0 | |||||||||||||||
TOTAL |
$ | 856,270 | $ | 781,081 | 9.6 | 4.0 | 5.6 | |||||||||||||
TOTAL INTERNATIONAL |
$ | 4,473,135 | $ | 4,085,768 | 9.5 | 3.6 | 5.9 | |||||||||||||
Page 9
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Twelve Months Ended September 30, (continued)
(Unaudited; Amounts in thousands)
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Twelve Months Ended September 30, (continued)
(Unaudited; Amounts in thousands)
| Total | ||||||||||||||||||||
| % Change | ||||||||||||||||||||
| 2011 | 2010 | Reported | FXN | FX Impact | ||||||||||||||||
BD MEDICAL |
||||||||||||||||||||
Medical Surgical Systems |
$ | 2,081,733 | $ | 2,010,009 | 3.6 | 0.4 | 3.2 | |||||||||||||
Diabetes Care |
866,477 | 785,759 | 10.3 | 6.8 | 3.5 | |||||||||||||||
Pharmaceutical Systems |
1,059,094 | 1,000,664 | 5.8 | 2.4 | 3.4 | |||||||||||||||
TOTAL |
$ | 4,007,304 | $ | 3,796,432 | 5.6 | 2.3 | 3.3 | |||||||||||||
BD DIAGNOSTICS |
||||||||||||||||||||
Preanalytical Systems |
$ | 1,277,793 | $ | 1,197,807 | 6.7 | 3.7 | 3.0 | |||||||||||||
Diagnostic Systems |
1,202,684 | 1,121,072 | 7.3 | 4.2 | 3.1 | |||||||||||||||
TOTAL |
$ | 2,480,477 | $ | 2,318,879 | 7.0 | 3.9 | 3.1 | |||||||||||||
BD BIOSCIENCES |
||||||||||||||||||||
Cell Analysis |
$ | 1,024,445 | $ | 951,238 | 7.7 | 4.3 | 3.4 | |||||||||||||
Discovery Labware |
316,678 | 305,784 | 3.6 | | 3.6 | |||||||||||||||
TOTAL |
$ | 1,341,123 | $ | 1,257,022 | 6.7 | 3.2 | 3.5 | |||||||||||||
TOTAL REVENUES |
$ | 7,828,904 | $ | 7,372,333 | 6.2 | 2.9 | 3.3 | |||||||||||||
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 September 30, | ||||||||||||||||||||
| % Change | ||||||||||||||||||||
| 2011 | 2010 | Reported | FXN | FX Impact | ||||||||||||||||
TOTAL SAFETY REVENUES |
||||||||||||||||||||
United States |
$ | 288,541 | $ | 282,968 | 2.0 | 2.0 | | |||||||||||||
International |
209,209 | 160,396 | 30.4 | 18.5 | 11.9 | |||||||||||||||
TOTAL |
$ | 497,750 | $ | 443,364 | 12.3 | 7.9 | 4.4 | |||||||||||||
BY SEGMENT |
||||||||||||||||||||
BD Medical |
$ | 243,521 | $ | 208,822 | 16.6 | 12.4 | 4.2 | |||||||||||||
BD Diagnostics |
254,229 | 234,542 | 8.4 | 4.0 | 4.4 | |||||||||||||||
TOTAL |
$ | 497,750 | $ | 443,364 | 12.3 | 7.9 | 4.4 | |||||||||||||
| Twelve Months Ended September 30, | ||||||||||||||||||||
| % Change | ||||||||||||||||||||
| 2011 | 2010 | Reported | FXN | FX Impact | ||||||||||||||||
TOTAL SAFETY REVENUES |
||||||||||||||||||||
United States |
$ | 1,116,543 | $ | 1,108,431 | 0.7 | 0.7 | | |||||||||||||
International |
754,739 | 621,913 | 21.4 | 13.6 | 7.8 | |||||||||||||||
TOTAL |
$ | 1,871,282 | $ | 1,730,344 | 8.1 | 5.4 | 2.7 | |||||||||||||
BY SEGMENT |
||||||||||||||||||||
BD Medical |
$ | 885,156 | $ | 819,084 | 8.1 | 5.4 | 2.7 | |||||||||||||
BD Diagnostics |
986,126 | 911,260 | 8.2 | 5.3 | 2.9 | |||||||||||||||
TOTAL |
$ | 1,871,282 | $ | 1,730,344 | 8.1 | 5.4 | 2.7 | |||||||||||||
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 September 30, | ||||||||||||||||||||
| Reported | Impairment | Adjusted | Reported | Adjusted | ||||||||||||||||
| FY 2011 | Charge (1) | FY 2011 | FY 2010 | % Growth | ||||||||||||||||
Diluted Earnings per share from Continuing Operations |
$ | 1.36 | $ | 0.03 | $ | 1.39 | $ | 1.24 | 12.1 | % | ||||||||||
| (1) | Represents a non-cash impairment charge resulting from the discontinuance of a research program within the Diagnostic Systems unit. |
All figures rounded. Totals may not add due to rounding.
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)
| Twelve Months Ended September 30, | ||||||||||||||||||||||||||||
| Reported | Impairment | Adjusted | Reported | Adjusted | Adjusted | |||||||||||||||||||||||
| FY 2011 | Charge (1) | FY 2011 | FY 2010 | Tax (2) | FY 2010 | % Growth | ||||||||||||||||||||||
Diluted Earnings per Share
from Continuing Operations |
$ | 5.59 | $ | 0.03 | $ | 5.62 | $ | 4.90 | $ | 0.04 | $ | 4.94 | 13.8 | % | ||||||||||||||
| (1) | Represents a non-cash impairment charge resulting from the discontinuance of a research program within the Diagnostic Systems unit. | |
| (2) | Represents a non-cash charge related to healthcare reform impacting Medicare Part D reimbursements. |
All figures rounded. Totals may not add due to rounding.
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 September 30, | ||||||||||||||||||||||||||||||||
| Adjusted | Reported | Adjusted Growth | Foreign Currency | FY10 Hedge | Total | Adjusted FXN | FXN | |||||||||||||||||||||||||
| FY 2011 | FY 2010 | $ | Translation | Gain | FX | Change | Growth | |||||||||||||||||||||||||
REVENUES |
$ | 2,051 | $ | 1,873 | $ | 178 | $ | 115 | $ | (11 | ) | $ | 103 | $ | 74 | 4.0 | % | |||||||||||||||
Diluted Earnings per Share
from Continuing Operations |
$ | 1.39 | $ | 1.24 | $ | 0.15 | $ | 0.08 | $ | (0.03 | ) | $ | 0.05 | $ | 0.10 | 8.1 | % | |||||||||||||||
All figures rounded. Totals may not add due to rounding.
FXN = Foreign Currency Neutral
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)
| Twelve Months Ended September 30, | ||||||||||||||||||||||||||||||||
| Adjusted | Adjusted | Adjusted Growth | Foreign Currency | FY10 Hedge | Total | Adjusted FXN | FXN | |||||||||||||||||||||||||
| FY 2011 | FY 2010 | $ | Translation | Loss | FX | Change | Growth | |||||||||||||||||||||||||
REVENUES |
$ | 7,829 | $ | 7,372 | $ | 457 | $ | 208 | $ | 31 | $ | 240 | $ | 217 | 2.9 | % | ||||||||||||||||
Diluted Earnings per Share
from Continuing Operations |
$ | 5.62 | $ | 4.94 | $ | 0.68 | $ | 0.20 | $ | 0.08 | $ | 0.28 | $ | 0.40 | 8.1 | % | ||||||||||||||||
All figures rounded. Totals may not add due to rounding.
FXN = Foreign Currency Neutral
FXN = Foreign Currency Neutral
Page 15