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BD Announces Results For 2012 Third Fiscal Quarter
Date:8/2/2012

FRANKLIN LAKES, N.J., Aug. 2, 2012 /PRNewswire/ -- BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, today reported quarterly revenues of $1.981 billion for the third fiscal quarter ended June 30, 2012, representing an increase of 1.5 percent from the prior-year period, or 4.9 percent on a foreign currency-neutral basis. 

"We are very pleased with our third quarter results," said Vincent A. Forlenza, Chairman of the Board, Chief Executive Officer and President. "As we anticipated, our revenue and earnings growth improved this quarter, demonstrating that our strategy implementation is on track and in line with our previously communicated expectations."

Update on Agreement to Sell Discovery Labware Unit, Excluding Advanced BioprocessingIn April 2012, the Company signed a definitive agreement to sell its BD Biosciences - Discovery Labware unit, excluding its Advanced Bioprocessing platform. The transaction is expected to be completed by the end of calendar year 2012, subject to the satisfaction of customary closing conditions, including consultations and regulatory approvals. The results of operations associated with this disposal group have been reclassified as discontinued operations for all quarters and years referred to in this release.

As illustrated on page 3 of the attached financial tables, diluted earnings per share for the third quarter of $1.59 less the $0.07 from discontinued operations resulted in earnings per share from continuing operations of $1.52.

Also included for reference in the attached financial tables are the Company's Consolidated Income Statements reflecting the reclassification change of the Discovery Labware disposal group to discontinued operations, for the first two quarters of fiscal year 2012 and for all periods in fiscal year 2011.

Third Quarter and Nine-Month Fiscal 2012 Operating ResultsReported diluted earnings per share from continuing operations for the third quarter were $1.52, representing an increase of 5.6 percent over the prior-year period. On a foreign currency-neutral basis, diluted earnings per share from continuing operations for the third quarter increased by 9.7 percent.

For the nine-month period ending June 30, 2012, reported diluted earnings per share from continuing operations were $3.95, representing a decrease of 1.7 percent over the prior- year period.  On a foreign currency-neutral basis, diluted earnings per share from continuing operations increased by 1.0 percent for this period.

Segment ResultsIn the BD Medical segment, worldwide revenues for the quarter were $1.070 billion, representing an increase of 2.4 percent compared with the prior-year period, or 6.4 percent on a currency-neutral basis. The segment's revenue growth reflected strong sales and favorable comparisons in the Diabetes Care and Pharmaceutical Systems units. For the nine-month period ended June 30, 2012, BD Medical revenues increased 3.0 percent, or 4.8 percent on a currency-neutral basis.

In the BD Diagnostics segment, worldwide revenues for the quarter were $642 million, representing an increase of 1.7 percent compared with the prior-year period, or 4.7 percent on a foreign currency-neutral basis. The segment's growth was primarily driven by solid sales of Preanalytical Systems safety-engineered products and strong sales in the Women's Health and Cancer platform.  For the nine-month period ended June 30, 2012, BD Diagnostics revenues increased 3.0 percent, or 4.3 percent on a currency-neutral basis.

In the BD Biosciences segment, worldwide revenues for the quarter were $268 million, representing a decrease of 2.7 percent compared with the prior-year period. On a currency-neutral basis, revenues increased by 0.2 percent.  Segment results continue to be negatively affected by weakness in the U.S. research market. For the nine-month period ended June 30, 2012, BD Biosciences revenues increased 0.2 percent, or 1.3 percent on a currency-neutral basis.

Geographic ResultsThird quarter revenues in the U.S. were $837 million, representing an increase of 1.1 percent compared with the prior-year period. Revenues outside of the U.S. were $1.144 billion, representing an increase of 1.7 percent compared with the prior-year period, or an increase of 7.8 percent on a foreign currency-neutral basis. International revenues reflected continued strength in emerging markets and strong sales of safety-engineered products. For the nine-month period ended June 30, 2012, revenues in the U.S. were $2.464 billion, representing an increase of 1.3 percent compared with the prior-year period. Revenues outside of the U.S. were $3.277 billion, representing an increase of 3.6 percent compared with the prior-year period, or 6.4 percent on a foreign currency-neutral basis.

Fiscal 2012 Outlook for Full Year The Company expects reported revenue growth for the full fiscal year 2012 to be about 1 percent versus its previously disclosed guidance of 1 to 2 percent. This reflects the anticipated effects of unfavorable currency translation. On a currency-neutral basis, the Company is raising the lower end of its previously disclosed guidance of 3 to 4 percent to about 4 percent. The Company expects reported diluted earnings per share from continuing operations for the full fiscal year 2012 to be between $5.33 and $5.38. This reflects the reclassification of the Discovery Labware unit as discontinued operations and the anticipated effects of unfavorable currency translation. On a currency-neutral basis, the Company reaffirms its previously disclosed diluted earnings per share growth guidance of 4 to 5 percent, which includes the estimated impact of our recently announced agreement to acquire Safety Syringes, Inc.

Conference Call InformationA conference call regarding BD's third quarter results and its expectations for the full fiscal year 2012 will be broadcast live on BD's website, www.bd.com/investors, along with related slides, at 8:00 a.m. (ET) Thursday August 2, 2012.  The conference call will be available for replay on BD's website, www.bd.com/investors, or at 1-800-585-8367 (domestic) and 1-404-537-3406 (international) through the close of business on Tuesday, August 9, 2012, access code 96886040.

Non-GAAP Financial MeasuresThis 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 BDBD is a leading global medical technology company that develops, manufactures and sells medical devices, instrument systems and reagents. The Company is dedicated to improving people's 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. BD's capabilities are instrumental in combating many of the world's 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 for Full Year", contains certain estimates and other forward-looking statements (as defined under Federal securities laws) regarding BD's 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: adverse changes in regional, national or foreign economic conditions, including any impact that may result from the current global economic conditions 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; 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; changes in interest or foreign currency exchange rates; competitive factors; pricing and other market pressures; our ability to successfully integrate any businesses we acquire; 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 BD's products; fluctuations in costs and availability of raw materials and in BD's 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 BD's 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; and issuance of new or revised accounting standards, as well as other factors discussed in BD's 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.Contact:
Monique N. Dolecki, Investor Relations – 201-847-5378
Colleen T. White, Corporate Communications – 201-847-5369BECTON DICKINSON AND COMPANYCONSOLIDATED INCOME STATEMENTS(Unaudited; Amounts in thousands, except per share data)Three Months Ended June 30,20122011% ChangeREVENUES

$

1,980,530

$

1,951,8891.5Cost of products sold947,395922,6522.7Selling and administrative 469,130467,9680.2Research and development114,987114,0780.8TOTAL OPERATING COSTSAND EXPENSES1,531,5121,504,6981.8OPERATING INCOME449,018447,1910.4Interest income6,25311,508(45.7)Interest expense(34,849)(22,211)56.9Other expense, net(1,881)(1,318)42.7INCOME FROM CONTINUING OPERATIONS BEFOREINCOME TAXES418,541435,170(3.8)Income tax provision106,960113,630(5.9)INCOME FROM CONTINUING OPERATIONS311,581321,540(3.1)INCOME FROM DISCONTINUED OPERATIONSNET OF INCOME TAX PROVISION OF$7,288 AND $9,012, RESPECTIVELY15,28521,518(29.0)NET INCOME

$

326,866

$

343,058(4.7)EARNINGS PER SHAREBasic:Income from continuing operations

$

1.54

$

1.474.8Income from discontinued operations

$

0.08

$

0.10(20.0)Net income 

$

1.62

$

1.573.2Diluted:Income from continuing operations

$

1.52

$

1.445.6Income from discontinued operations

$

0.07

$

0.10(30.0)Net income (1)

$

1.59

$

1.533.9AVERAGE SHARES OUTSTANDINGBasic202,015218,966Diluted205,290223,567(1) Total per share amounts may not add due to rounding. 

BECTON DICKINSON AND COMPANYCONSOLIDATED INCOME STATEMENTS(Unaudited; Amounts in thousands, except per share data)Nine Months Ended June 30,20122011% ChangeREVENUES

$

5,741,211

$

5,595,8562.6Cost of products sold2,789,0442,654,0815.1Selling and administrative 1,439,0941,343,9467.1Research and development343,968344,989(0.3)TOTAL OPERATING COSTSAND EXPENSES4,572,1064,343,0165.3OPERATING INCOME1,169,1051,252,840(6.7)Interest income38,37941,294(7.1)Interest expense(99,367)(61,685)61.1Other income (expense), net2,392(8,436)NM INCOME FROM CONTINUING OPERATIONS BEFOREINCOME TAXES1,110,5091,224,013(9.3)Income tax provision275,260308,177(10.7)INCOME FROM CONTINUING OPERATIONS835,249915,836(8.8)INCOME FROM DISCONTINUED OPERATIONSNET OF INCOME TAX PROVISION OF$22,158 AND $26,338, RESPECTIVELY45,63555,179(17.3)NET INCOME

$

880,884

$

971,015(9.3)EARNINGS PER SHAREBasic:Income from continuing operations

$

4.02

$

4.11(2.2)Income from discontinued operations

$

0.22

$

0.25(12.0)Net income

$

4.24

$

4.36(2.8)Diluted:Income from continuing operations

$

3.95

$

4.02(1.7)Income from discontinued operations

$

0.22

$

0.24(8.3)Net income 

$

4.17

$

4.26(2.1)AVERAGE SHARES OUTSTANDINGBasic207,605222,674Diluted211,254227,782NM - Not Meaningful 

Becton Dickinson and CompanySupplemental Income Statement Information - Fiscal 2012Revised for discontinued operations of Discovery Labware divestiture(Unaudited: Amounts in thousands, except per-share data)Amountsreclassified toPreviously DiscontinuedAsReportedOperationsRevisedQuarter 1Revenues

$

1,887,645

$

55,925

$

1,831,720Income from Continuing Operations

$

263,010

$

14,466

$

248,544Diluted Earnings Per Share from Continuing Operations

$

1.21

$

0.07

$

1.14Quarter 2Revenues

$

1,990,818

$

61,857

$

1,928,961Income from Continuing Operations

$

290,548

$

15,424

$

275,124Diluted Earnings Per Share from Continuing Operations

$

1.38

$

0.07

$

1.31Amountsreclassified toFrom  DiscontinuedContinuingPro FormaOperationsOperationsQuarter 3Revenues

$

2,040,760

$

60,230

$

1,980,530Income 

$

326,795

$

15,214

$

311,581Diluted Earnings Per Share

$

1.59

$

0.07

$

1.52YTD Revenues

$

5,919,224

$

178,013

$

5,741,211Income 

$

880,353

$

45,104

$

835,249Diluted Earnings Per Share (1)

$

4.17

$

0.21

$

3.95Certain quarterly amounts may not add to the year-to-date totals due to rounding.(1) Diluted Earnings per Share may not add due to rounding. 

Becton Dickinson and CompanySupplemental Income Statement Information - Fiscal 2011 and 2010Revised for discontinued operations of Discovery Labware divestiture(Unaudited: Amounts in thousands, except per-share data)Amounts reclassified toPreviously DiscontinuedAsReportedOperationsRevisedFiscal 2011Revenues

$

7,828,904

$

244,867

$

7,584,037Income from Continuing Operations

$

1,264,852

$

63,969

$

1,200,883Diluted Earnings Per Share from Continuing Operations

$

5.59

$

0.28

$

5.31Fiscal 2010Revenues

$

7,372,333

$

247,948

$

7,124,385Income from Continuing Operations

$

1,176,340

$

61,496

$

1,114,844Diluted Earnings Per Share from Continuing Operations

$

4.90

$

0.26

$

4.64 

BECTON DICKINSON AND COMPANYSUPPLEMENTAL REVENUE INFORMATIONREVENUES BY SEGMENT AND GEOGRAPHIC AREA(Unaudited; Amounts in thousands)Three Months Ended June 30,20122011% ChangeBD MEDICALUnited States

$

429,621

$

416,7293.1International640,455628,1072.0TOTAL

$

1,070,076

$

1,044,8362.4BD DIAGNOSTICSUnited States

$

315,240

$

312,8020.8International327,010318,5572.7TOTAL

$

642,250

$

631,3591.7BD BIOSCIENCESUnited States

$

91,674

$

97,914(6.4)International176,530177,780(0.7)TOTAL

$

268,204

$

275,694(2.7)TOTAL REVENUESUnited States

$

836,535

$

827,4451.1International1,143,9951,124,4441.7TOTAL

$

1,980,530

$

1,951,8891.5 

BECTON DICKINSON AND COMPANYSUPPLEMENTAL REVENUE INFORMATIONREVENUES BY SEGMENT AND GEOGRAPHIC AREA(Unaudited; Amounts in thousands)Nine Months Ended June 30,20122011% ChangeBD MEDICALUnited States

$

1,262,811

$

1,220,7443.4International1,778,8491,731,9692.7TOTAL

$

3,041,660

$

2,952,7133.0BD DIAGNOSTICSUnited States

$

945,460

$

932,2691.4International947,552906,1604.6TOTAL

$

1,893,012

$

1,838,4293.0BD BIOSCIENCESUnited States

$

255,587

$

280,096(8.8)International550,952524,6185.0TOTAL

$

806,539

$

804,7140.2TOTAL REVENUESUnited States

$

2,463,858

$

2,433,1091.3International3,277,3533,162,7473.6TOTAL

$

5,741,211

$

5,595,8562.6 

BECTON DICKINSON AND COMPANYSUPPLEMENTAL REVENUE INFORMATIONREVENUES BY BUSINESS SEGMENTS AND UNITSThree Months Ended June 30,(Unaudited; Amounts in thousands)United States20122011 % Change BD MEDICALMedical Surgical Systems

$

241,320

$

244,756(1.4)Diabetes Care110,013100,4659.5Pharmaceutical Systems78,28871,5089.5TOTAL

$

429,621

$

416,7293.1BD DIAGNOSTICSPreanalytical Systems

$

165,962

$

162,5892.1Diagnostic Systems149,278150,213(0.6)TOTAL

$

315,240

$

312,8020.8BD BIOSCIENCESCell Analysis (1)

$

91,674

$

97,914(6.4)TOTAL

$

91,674

$

97,914(6.4)TOTAL UNITED STATES

$

836,535

$

827,4451.1(1) Cell Analysis consists of the Cell Analysis unit and the Advanced Bioprocessing platform.Advanced Bioprocessing was previously reported with the Discovery Labware unit. 

BECTON DICKINSON AND COMPANYSUPPLEMENTAL REVENUE INFORMATIONREVENUES BY BUSINESS SEGMENTS AND UNITSThree Months Ended June 30, (continued)(Unaudited; Amounts in thousands)International % Change 20122011 Reported FXNFX ImpactBD MEDICALMedical Surgical Systems

$

290,451

$

284,2622.28.4(6.2)Diabetes Care122,662119,7192.58.7(6.2)Pharmaceutical Systems227,342224,1261.48.7(7.3)TOTAL

$

640,455

$

628,1072.08.5(6.5)BD DIAGNOSTICSPreanalytical Systems

$

167,492

$

167,737(0.1)6.3(6.4)Diagnostic Systems159,518150,8205.810.9(5.1)TOTAL

$

327,010

$

318,5572.78.5(5.8)BD BIOSCIENCESCell Analysis (1)

$

176,530

$

177,780(0.7)3.8(4.5)TOTAL

$

176,530

$

177,780(0.7)3.8(4.5)TOTAL INTERNATIONAL

$

1,143,995

$

1,124,4441.77.8(6.1)(1) Cell Analysis consists of the Cell Analysis unit and the Advanced Bioprocessing platform.Advanced Bioprocessing was previously reported with the Discovery Labware unit. 

BECTON DICKINSON AND COMPANYSUPPLEMENTAL REVENUE INFORMATIONREVENUES BY BUSINESS SEGMENTS AND UNITSThree Months Ended June 30, (continued)(Unaudited; Amounts in thousands)Total % Change 20122011 Reported FXNFX ImpactBD MEDICAL Medical Surgical Systems

$

531,771

$

529,0180.53.8(3.3)Diabetes Care232,675220,1845.79.1(3.4)Pharmaceutical Systems305,630295,6343.48.9(5.5)TOTAL

$

1,070,076

$

1,044,8362.46.4(4.0)BD DIAGNOSTICSPreanalytical Systems

$

333,454

$

330,3260.94.2(3.3)Diagnostic Systems308,796301,0332.65.1(2.5)TOTAL

$

642,250

$

631,3591.74.7(3.0)BD BIOSCIENCESCell Analysis (1)$

268,204

$

275,694(2.7)0.2(2.9)TOTAL

$

268,204

$

275,694(2.7)0.2(2.9)TOTAL REVENUES

$

1,980,530

$

1,951,8891.54.9(3.4)(1) Cell Analysis consists of the Cell Analysis unit and the Advanced Bioprocessing platform.Advanced Bioprocessing was previously reported with the Discovery Labware unit. 

BECTON DICKINSON AND COMPANYSUPPLEMENTAL REVENUE INFORMATIONREVENUES BY BUSINESS SEGMENTS AND UNITSNine Months Ended June 30,(Unaudited; Amounts in thousands)United States20122011 % Change BD MEDICALMedical Surgical Systems

$

727,335

$

733,582(0.9)Diabetes Care321,264295,9898.5Pharmaceutical Systems214,212191,17312.1TOTAL

$

1,262,811

$

1,220,7443.4BD DIAGNOSTICSPreanalytical Systems

$

491,532

$

481,6242.1Diagnostic Systems453,928450,6450.7TOTAL

$

945,460

$

932,2691.4BD BIOSCIENCESCell Analysis (1) 

$

255,587

$

280,096(8.8)TOTAL

$

255,587

$

280,096(8.8)TOTAL UNITED STATES

$

2,463,858

$

2,433,1091.3(1) Cell Analysis consists of the Cell Analysis unit and the Advanced Bioprocessing platform.Advanced Bioprocessing was previously reported with the Discovery Labware unit. 

BECTON DICKINSON AND COMPANYSUPPLEMENTAL REVENUE INFORMATIONREVENUES BY BUSINESS SEGMENTS AND UNITSNine Months Ended June 30, (continued)(Unaudited; Amounts in thousands)International % Change 20122011 Reported FXNFX ImpactBD MEDICALMedical Surgical Systems

$

845,685

$

812,7524.17.0(2.9)Diabetes Care356,575345,8373.15.7(2.6)Pharmaceutical Systems576,589573,3800.64.1(3.5)TOTAL

$

1,778,849

$

1,731,9692.75.8(3.1)BD DIAGNOSTICSPreanalytical Systems

$

481,857

$

467,5703.16.5(3.4)Diagnostic Systems465,695438,5906.28.2(2.0)TOTAL

$

947,552

$

906,1604.67.3(2.7)BD BIOSCIENCESCell Analysis (1) 

$

550,952

$

524,6185.06.6(1.6)TOTAL

$

550,952

$

524,6185.06.6(1.6)TOTAL INTERNATIONAL

$

3,277,353

$

3,162,7473.66.4(2.8)(1) Cell Analysis consists of the Cell Analysis unit and the Advanced Bioprocessing platform.Advanced Bioprocessing was previously reported with the Discovery Labware unit. 

BECTON DICKINSON AND COMPANYSUPPLEMENTAL REVENUE INFORMATIONREVENUES BY BUSINESS SEGMENTS AND UNITSNine Months Ended June 30, (continued)(Unaudited; Amounts in thousands)Total % Change 20122011 Reported FXNFX ImpactBD MEDICAL Medical Surgical Systems

$

1,573,020

$

1,546,3341.73.3(1.6)Diabetes Care677,839641,8265.67.0(1.4)Pharmaceutical Systems790,801764,5533.46.1(2.7)TOTAL

$

3,041,660

$

2,952,7133.04.8(1.8)BD DIAGNOSTICSPreanalytical Systems

$

973,389

$

949,1942.54.2(1.7)Diagnostic Systems919,623889,2353.44.4(1.0)TOTAL

$

1,893,012

$

1,838,4293.04.3(1.3)BD BIOSCIENCESCell Analysis (1) 

$

806,539

$

804,7140.21.3(1.1)TOTAL

$

806,539

$

804,7140.21.3(1.1)TOTAL REVENUES

$

5,741,211

$

5,595,8562.64.1(1.5)(1) Cell Analysis consists of the Cell Analysis unit and the Advanced Bioprocessing platform.Advanced Bioprocessing was previously reported with the Discovery Labware unit. 

BECTON DICKINSON AND COMPANYSUPPLEMENTAL REVENUE INFORMATIONSAFETY REVENUES(Unaudited; Amounts in thousands)Three Months Ended June 30, % Change 20122011 Reported FXNFX ImpactTOTAL SAFETY REVENUESUnited States

$

284,830

$

280,6961.51.5-International215,964198,4178.815.7(6.9)TOTAL

$

500,794

$

479,1134.57.4(2.9)BY SEGMENTBD Medical

$

240,065

$

223,4607.49.8(2.4)BD Diagnostics260,729255,6532.05.3(3.3)TOTAL

$

500,794

$

479,1134.57.4(2.9)Nine Months Ended June 30, % Change 20122011 Reported FXNFX ImpactTOTAL SAFETY REVENUESUnited States

$

858,175

$

828,0023.63.6-International618,290545,53013.316.7(3.4)TOTAL

$

1,476,465

$

1,373,5327.58.8(1.3)BY SEGMENTBD Medical

$

715,776

$

641,63511.612.4(0.8)BD Diagnostics760,689731,8973.95.6(1.7)TOTAL

$

1,476,465

$

1,373,5327.58.8(1.3) 

BECTON DICKINSON AND COMPANYCONSOLIDATED INCOME STATEMENTS FISCAL 2012Revised for discontinued operations of Discovery Labware divestiture(Unaudited; Amounts in thousands, except per-share data)Quarter 1Quarter 2Quarter 2 YTDREVENUES

$

1,831,720

$

1,928,961

$

3,760,681Cost of products sold900,465941,1841,841,649Selling and administrative 482,271487,694969,964Research and development112,227116,753228,981TOTAL OPERATING COSTSAND EXPENSES1,494,9631,545,6313,040,594OPERATING INCOME336,757383,330720,087Interest income15,44816,67832,126Interest expense(29,378)(35,140)(64,518)Other (expense) income, net(385)4,6574,272INCOME FROM CONTINUING OPERATIONS BEFOREINCOME TAXES322,442369,525691,967Income tax provision73,89894,401168,298INCOME FROM CONTINUING OPERATIONS248,544275,124523,669Income from Discontinued Operationsbefore Income Tax21,76823,45345,221Income Tax provision 7,3277,54414,871INCOME FROM DISCONTINUED OPERATIONS14,44115,90930,350NET INCOME

$

262,985

$

291,033

$

554,019EARNINGS PER SHAREBasic:Income from continuing operations

$

1.16

$

1.33

$

2.49Income from discontinued operations 

$

0.07

$

0.08

$

0.14Net income 

$

1.23

$

1.41

$

2.63Diluted:Income from continuing operations

$

1.14

$

1.31

$

2.45Income from discontinued operations

$

0.07

$

0.08

$

0.14Net income 

$

1.21

$

1.39

$

2.59AVERAGE SHARES OUTSTANDINGBasic214,300206,426210,385Diluted217,634209,803213,970Certain quarterly amounts may not add to the year-to-date totals due to rounding. 

BECTON DICKINSON AND COMPANYCONSOLIDATED INCOME STATEMENTS FISCAL 2011Revised for discontinued operations of Discovery Labware divestiture(Unaudited; Amounts in thousands, except per-share data)Quarter 1Quarter 2Quarter 3Quarter 4YearREVENUES

$

1,783,353

$

1,860,614

$

1,951,889

$

1,988,181

$

7,584,037Cost of products sold840,166891,262922,652971,0413,625,122Selling and administrative 440,955435,024467,968479,5911,823,537Research and development113,568117,343114,078124,528469,517TOTAL OPERATING COSTSAND EXPENSES1,394,6891,443,6291,504,6981,575,1605,918,176OPERATING INCOME388,664416,985447,191413,0211,665,861Interest income15,22214,56411,5081,91543,209Interest expense(15,553)(23,921)(22,211)(22,334)(84,019)Other (expense) income, net (4,596)(2,522)(1,318)1,272(7,164)INCOME FROM CONTINUING OPERATIONS BEFOREINCOME TAXES 383,737405,106435,170393,8741,617,887Income tax provision 85,291109,256113,630108,827417,004INCOME FROM CONTINUING OPERATIONS298,446295,850321,540285,0471,200,883Income from Discontinued Operationsbefore Income Tax26,29824,68830,53023,793105,310Income Tax provision8,8078,5199,0128,86035,199INCOME FROM DISCONTINUED OPERATIONS17,49116,16921,51814,93370,111NET INCOME 

$

315,937

$

312,019

$

343,058

$

299,980

$

1,270,994EARNINGS PER SHAREBasic:Income from continuing operations

$

1.31

$

1.34

$

1.47

$

1.32

$

5.43Income from discontinued operations

$

0.08

$

0.07

$

0.10

$

0.07

$

0.32Net income (1) 

$

1.39

$

1.41

$

1.57

$

1.38

$

5.75Diluted:Income from continuing operations

$

1.28

$

1.31

$

1.44

$

1.29

$

5.31Income from discontinued operations

$

0.08

$

0.07

$

0.10

$

0.07

$

0.31Net income (1)

$

1.36

$

1.38

$

1.53

$

1.36

$

5.62AVERAGE SHARES OUTSTANDINGBasic228,083220,894218,966216,726221,175Diluted232,915225,467223,567220,859226,280Certain quarterly amounts may not add to the year-to-date totals due to rounding.(1) Total per share amounts may not add due to rounding. 

BECTON DICKINSON AND COMPANYSUPPLEMENTAL INFORMATIONQuarter-to-Date Fiscal 2012 Reconciliation - FX Impact(Unaudited; Amounts in millions, except per share data)Three Months Ended June 30,ReportedReportedReported Growth Foreign CurrencyFXNFXN FY2012FY2011$Translation Change GrowthREVENUES

$

1,981

$

1,952

$

29

$

(68)

$

964.9%Diluted Earnings per Sharefrom Continuing Operations

$

1.52

$

1.44

$

0.08

$

(0.06)

$

0.149.7%All figures rounded. Totals may not add due to rounding.FXN = Foreign Currency Neutral 

BECTON DICKINSON AND COMPANYSUPPLEMENTAL INFORMATIONYear-to-Date Fiscal 2012 Reconciliation - FX Impact(Unaudited; Amounts in millions, except per share data)Nine Months Ended June 30,ReportedReportedReported Growth Foreign CurrencyFXNFXN FY2012FY2011$Translation Change GrowthREVENUES

$

5,741

$

5,596

$

145

$

(86)

$

2324.1%Diluted Earnings per Sharefrom Continuing Operations

$

3.95

$

4.02

$

(0.07)

$

(0.11)

$

0.041.0%All figures rounded. Totals may not add due to rounding.FXN = Foreign Currency Neutral 

 

 


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SOURCE BD (Becton, Dickinson and Company)
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All rights reserved


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