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BD Announces Results For 2013 Second Fiscal Quarter
Date:5/2/2013

FRANKLIN LAKES, N.J., May 2, 2013 /PRNewswire/ -- BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, today reported quarterly revenues of $2.0 billion for the second fiscal quarter ended March 31, 2013, representing an increase of 3.7 percent from the prior-year period, or 4.1 percent on a foreign currency-neutral basis. 

"We continued to deliver solid performance in the second quarter. Our results for the first half of the year give us the confidence to raise guidance for fiscal year 2013," said Vincent A. Forlenza, Chairman, CEO and President. "Additionally, our recent announcements of the BD Simplist™ product line and the Cato Software acquisition demonstrate how we are continuing to invest in innovation both organically and through strategic acquisition opportunities. We believe we are well positioned for continued success in fiscal year 2013 and beyond."Company Completes Acquisition of Cato Software SolutionsAs previously announced on March 12, 2013, the Company completed its acquisition of Cato Software Solutions, or "CSS."  CSS, based in Vienna, Austria, provides a suite of comprehensive medication safety software solutions that are intended to prevent medication errors and improve efficiency in both pharmacy and drug delivery settings.  CSS revenues will be reported in the BD Medical – Medical Surgical Systems unit.

Company Enters Pharmaceutical Manufacturing MarketOn March 27, 2013, the Company announced its entrance into the pharmaceutical manufacturing industry with BD Simplist™, a line of ready-to-administer, prefilled generic injectables. BD Simplist prefilled injectables will be commercialized and manufactured by BD Rx Inc., a wholly-owned subsidiary of BD, which plans to launch 20 to 30 drugs over the next few years. BD Rx Inc. revenues will be reported in the BD Medical – Medical Surgical Systems unit.

Second Quarter and Six-Month Fiscal 2013 Operating ResultsDiluted earnings per share from continuing operations for the second quarter were $1.39, compared with $1.31 in the prior-year period, representing a 6.1 percent increase, or 7.6 percent on a foreign currency-neutral basis. Excluding the medical device tax that went into effect in January 2013 under the U.S. healthcare reform law, adjusted diluted earnings per share from continuing operations were $1.44, which represents growth of 9.9 percent. On a foreign currency-neutral basis, adjusted diluted earnings per share from continuing operations for the second quarter increased 11.5 percent.

For the six-month period ending March 31, 2013, diluted earnings per share from continuing operations were $2.74, compared with $2.45 in the prior-year period. This represents growth of 11.8 percent.  Excluding the medical device tax, adjusted diluted earnings per share from continuing operations were $2.79.  This represents growth of 13.9 percent excluding the medical device tax.  Foreign currency had an immaterial impact on earnings per share for the six-month period.

Segment ResultsIn the BD Medical segment, worldwide revenues for the quarter were $1.062 billion, representing an increase of 4.0 percent compared with the prior-year period, or 4.2 percent on a foreign currency-neutral basis. The segment's revenue growth reflects solid sales in the Medical Surgical Systems and Diabetes Care units. As expected, we experienced lower revenue growth in the Pharmaceutical Systems unit, reflecting an unfavorable comparison to the prior-year period.

For the six-month period ended March 31, 2013, BD Medical revenues increased 3.7 percent, or 4.7 percent on a currency-neutral basis.

In the BD Diagnostics segment, worldwide revenues for the quarter were $659 million, representing an increase of 4.6 percent compared with the prior-year period, or 4.9 percent on a foreign currency-neutral basis. The segment's growth was driven by new product sales as well as international expansion in the Diagnostic Systems unit.

For the six-month period ended March 31, 2013, BD Diagnostics revenues increased 4.8 percent, or 5.5 percent on a currency-neutral basis.

In the BD Biosciences segment, worldwide revenues for the quarter were $279 million, representing an increase of 0.6 percent compared with the prior-year period, or 1.9 percent on a foreign currency-neutral basis.  Segment revenue growth was driven by solid instrument placements in the U.S., as well as a favorable timing of orders in Advanced Bioprocessing.  This was offset in part by softness in Western Europe due to austerity measures and timing of government funding in Japan.

For the six-month period ended March 31, 2013, BD Biosciences revenues increased 1.1 percent, or 2.6 percent on a currency-neutral basis.

Geographic ResultsSecond quarter revenues in the U.S. of $824 million represent an increase of 0.3 percent over the prior-year period. As expected, U.S. revenues were impacted by timing of orders.  Revenues outside of the U.S. were $1.177 billion, representing an increase of 6.2 percent compared with the prior-year period, or 6.9 percent on a foreign currency-neutral basis. International revenues reflected continued strength in emerging markets and strong sales of safety-engineered products. 

For the six-month period ended March 31, 2013, revenues in the U.S. were $1.654 billion, representing an increase of 1.6 percent compared with the prior-year period. Revenues outside of the U.S. were $2.247 billion, representing an increase of 5.3 percent when compared with the prior-year period, or 7.0 percent on a foreign currency-neutral basis.

Fiscal 2013 Outlook for Full Year The Company is raising its previously communicated guidance for the full fiscal year 2013 on revenues and earnings per share growth. On a currency-neutral basis, revenue growth is expected to be between 4.5 and 5.0 percent, or an increase of 50 basis points. Reported revenue growth guidance remains consistent with the Company's previously guided range of 3.5 to 4.0 percent. Reported diluted earnings per share from continuing operations for fiscal year 2013 are expected to be between $5.72 and $5.75, or an increase of $0.03 from the previous guidance range.  This represents growth of 6.5 to 7.0 percent over 2012 adjusted diluted earnings per share of $5.37, which excludes the pension settlement charge in fiscal year 2012. On a currency-neutral basis, earnings per share are expected to increase 100 basis points to 8.5 to 9.0 percent. After adjusting for the impact of the medical device tax and foreign currency, adjusted diluted earnings per share are expected to grow 11.0 to 11.5 percent.
In line with previously disclosed guidance, the Company plans to repurchase, subject to market conditions, about $500 million of its common stock in fiscal year 2013.

Conference Call InformationA conference call regarding BD's second quarter results will be broadcast live on BD's website, www.bd.com/investors, along with related slides, at 8:00 a.m. (ET) Thursday, May 2, 2013.  The conference call will be available for replay on BD's website, www.bd.com/investors, or at 1-800-475-6701 (domestic) and 1-320-365-3844 (international) through the close of business on Thursday, May 9, 2013, confirmation number 290460.

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 nearly 30,000 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 2013 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: potential cuts in healthcare spending by the U.S. government as part of deficit reduction measures, including "sequestration", which could result in reduced demand for our product or downward pricing pressure; 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 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; changes in interest or foreign currency exchange rates; our ability to successfully integrate any businesses we acquire; 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 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 – 201-847-5453
Colleen T. White, Corporate Communications – 201-847-5369BECTON DICKINSON AND COMPANYCONSOLIDATED INCOME STATEMENTS(Unaudited; Amounts in thousands, except per share data)Three Months Ended March 31,20132012% ChangeREVENUES

$

2,000,375

$

1,928,9613.7Cost of products sold982,256941,1844.4Selling and administrative  514,610487,6945.5Research and development122,377116,7534.8TOTAL OPERATING COSTSAND EXPENSES1,619,2431,545,6314.8OPERATING INCOME381,132383,330(0.6)Interest income11,81816,678(29.1)Interest expense(34,732)(35,140)(1.2)Other income, net2,2534,657(51.6)INCOME FROM CONTINUING OPERATIONS BEFOREINCOME TAXES360,471369,525(2.5)Income tax provision84,35194,401(10.6)INCOME FROM CONTINUING OPERATIONS276,120275,1240.4(LOSS) INCOME FROM DISCONTINUED OPERATIONSNET OF INCOME TAX (BENEFIT) PROVISION OF$(1,177) AND $7,544, RESPECTIVELY(483)15,909NM NET INCOME

$

275,637

$

291,033(5.3)EARNINGS PER SHAREBasic:Income from continuing operations

$

1.42

$

1.336.8(Loss) income from discontinued operations

$

-

$

0.08NM Net income 

$

1.42

$

1.410.7Diluted:Income from continuing operations

$

1.39

$

1.316.1(Loss) income from discontinued operations

$

-

$

0.08NM Net income 

$

1.39

$

1.39-AVERAGE SHARES OUTSTANDINGBasic194,609206,426Diluted198,143209,803NM - Not Meaningful 

 

BECTON DICKINSON AND COMPANYCONSOLIDATED INCOME STATEMENTS(Unaudited; Amounts in thousands, except per share data)Six Months Ended March 31,20132012% ChangeREVENUES

$

3,900,567

$

3,760,6813.7Cost of products sold1,876,3191,841,6491.9Selling and administrative 1,010,489969,9644.2Research and development240,538228,9815.0TOTAL OPERATING COSTSAND EXPENSES3,127,3463,040,5942.9OPERATING INCOME773,221720,0877.4Interest income19,74032,126(38.6)Interest expense(69,761)(64,518)8.1Other income, net2,9674,272(30.5)INCOME FROM CONTINUING OPERATIONS BEFOREINCOME TAXES726,167691,9674.9Income tax provision179,797168,2986.8INCOME FROM CONTINUING OPERATIONS546,370523,6694.3INCOME FROM DISCONTINUED OPERATIONSNET OF INCOME TAX PROVISION OF$215,160 AND $14,871, RESPECTIVELY354,70330,350NM NET INCOME

$

901,073

$

554,01962.6EARNINGS PER SHAREBasic:Income from continuing operations

$

2.79

$

2.4912.0Income from discontinued operations

$

1.81

$

0.14NM Net income (1)

$

4.61

$

2.6375.3Diluted:Income from continuing operations

$

2.74

$

2.4511.8Income from discontinued operations

$

1.78

$

0.14NM Net income (1)

$

4.53

$

2.5974.9AVERAGE SHARES OUTSTANDINGBasic195,528210,385Diluted199,068213,970NM - Not Meaningful(1) Total per share amounts may not add due to rounding. 

 

BECTON DICKINSON AND COMPANYSUPPLEMENTAL REVENUE INFORMATIONREVENUES BY SEGMENT AND GEOGRAPHIC AREA(Unaudited; Amounts in thousands)Three Months Ended March 31,20132012% ChangeBD MEDICALUnited States

$

412,485

$

418,521(1.4)International649,586602,6667.8TOTAL

$

1,062,071

$

1,021,1874.0BD DIAGNOSTICSUnited States

$

322,217

$

318,5971.1International336,723311,4228.1TOTAL

$

658,940

$

630,0194.6BD BIOSCIENCESUnited States

$

88,862

$

83,9865.8International190,502193,769(1.7)TOTAL

$

279,364

$

277,7550.6TOTAL REVENUESUnited States

$

823,564

$

821,1040.3International1,176,8111,107,8576.2TOTAL

$

2,000,375

$

1,928,9613.7BECTON DICKINSON AND COMPANYSUPPLEMENTAL REVENUE INFORMATIONREVENUES BY SEGMENT AND GEOGRAPHIC AREA(Unaudited; Amounts in thousands)Six Months Ended March 31,20132012% ChangeBD MEDICALUnited States

$

837,851

$

833,1900.6International1,207,5931,138,3946.1TOTAL

$

2,045,444

$

1,971,5843.7BD DIAGNOSTICSUnited States

$

642,757

$

630,2202.0International668,108620,5427.7TOTAL

$

1,310,865

$

1,250,7624.8BD BIOSCIENCESUnited States

$

173,057

$

163,9135.6International371,201374,422(0.9)TOTAL

$

544,258

$

538,3351.1TOTAL REVENUESUnited States

$

1,653,665

$

1,627,3231.6International2,246,9022,133,3585.3TOTAL

$

3,900,567

$

3,760,6813.7BECTON DICKINSON AND COMPANYSUPPLEMENTAL REVENUE INFORMATIONREVENUES BY BUSINESS SEGMENTS AND UNITSThree Months Ended March 31,(Unaudited; Amounts in thousands)United States20132012 % Change BD MEDICALMedical Surgical Systems

$

235,624

$

237,599(0.8)Diabetes Care106,643105,7250.9Pharmaceutical Systems70,21875,197(6.6)TOTAL

$

412,485

$

418,521(1.4)BD DIAGNOSTICSPreanalytical Systems

$

161,967

$

163,455(0.9)Diagnostic Systems160,250155,1423.3TOTAL

$

322,217

$

318,5971.1BD BIOSCIENCES 

$

88,862

$

83,9865.8TOTAL UNITED STATES

$

823,564

$

821,1040.3 BECTON DICKINSON AND COMPANYSUPPLEMENTAL REVENUE INFORMATIONREVENUES BY BUSINESS SEGMENTS AND UNITSThree Months Ended March 31, (continued)(Unaudited; Amounts in thousands)International % Change 20132012 Reported FXNFX ImpactBD MEDICALMedical Surgical Systems

$

302,941

$

281,3407.78.4(0.7)Diabetes Care125,449113,52010.512.0(1.5)Pharmaceutical Systems221,196207,8066.45.70.7TOTAL

$

649,586

$

602,6667.88.2(0.4)BD DIAGNOSTICSPreanalytical Systems

$

168,064

$

159,8585.15.3(0.2)Diagnostic Systems168,659151,56411.312.4(1.1)TOTAL

$

336,723

$

311,4228.18.8(0.7)BD BIOSCIENCES 

$

190,502

$

193,769(1.7)0.2(1.9)TOTAL INTERNATIONAL

$

1,176,811

$

1,107,8576.26.9(0.7) 

BECTON DICKINSON AND COMPANYSUPPLEMENTAL REVENUE INFORMATIONREVENUES BY BUSINESS SEGMENTS AND UNITSThree Months Ended March 31, (continued)(Unaudited; Amounts in thousands)Total % Change 20132012 Reported FXNFX ImpactBD MEDICAL Medical Surgical Systems

$

538,565

$

518,9393.84.2(0.4)Diabetes Care232,092219,2455.96.6(0.7)Pharmaceutical Systems291,414283,0033.02.40.6TOTAL

$

1,062,071

$

1,021,1874.04.2(0.2)BD DIAGNOSTICSPreanalytical Systems

$

330,031

$

323,3132.12.2(0.1)Diagnostic Systems328,909306,7067.27.8(0.6)TOTAL

$

658,940

$

630,0194.64.9(0.3)BD BIOSCIENCES 

$

279,364

$

277,7550.61.9(1.3)TOTAL REVENUES

$

2,000,375

$

1,928,9613.74.1(0.4) BECTON DICKINSON AND COMPANYSUPPLEMENTAL REVENUE INFORMATIONREVENUES BY BUSINESS SEGMENTS AND UNITSSix Months Ended March 31,(Unaudited; Amounts in thousands)United States20132012 % Change BD MEDICALMedical Surgical Systems

$

484,816

$

486,015(0.2)Diabetes Care219,047211,2513.7Pharmaceutical Systems133,988135,924(1.4)TOTAL

$

837,851

$

833,1900.6BD DIAGNOSTICSPreanalytical Systems

$

328,916

$

325,5701.0Diagnostic Systems313,841304,6503.0TOTAL

$

642,757

$

630,2202.0BD BIOSCIENCES 

$

173,057

$

163,9135.6TOTAL UNITED STATES

$

1,653,665

$

1,627,3231.6 

BECTON DICKINSON AND COMPANYSUPPLEMENTAL REVENUE INFORMATIONREVENUES BY BUSINESS SEGMENTS AND UNITSSix Months Ended March 31, (continued)(Unaudited; Amounts in thousands)International % Change 20132012 Reported FXNFX ImpactBD MEDICALMedical Surgical Systems

$

589,687

$

555,2346.27.8(1.6)Diabetes Care255,847233,9139.411.7(2.3)Pharmaceutical Systems362,059349,2473.74.8(1.1)TOTAL

$

1,207,593

$

1,138,3946.17.7(1.6)BD DIAGNOSTICSPreanalytical Systems

$

335,882

$

314,3656.88.1(1.3)Diagnostic Systems332,226306,1778.510.1(1.6)TOTAL

$

668,108

$

620,5427.79.1(1.4)BD BIOSCIENCES 

$

371,201

$

374,422(0.9)1.2(2.1)TOTAL INTERNATIONAL

$

2,246,902

$

2,133,3585.37.0(1.7) 

BECTON DICKINSON AND COMPANYSUPPLEMENTAL REVENUE INFORMATIONREVENUES BY BUSINESS SEGMENTS AND UNITSSix Months Ended March 31, (continued)(Unaudited; Amounts in thousands)Total % Change 20132012 Reported FXNFX ImpactBD MEDICAL Medical Surgical Systems

$

1,074,503

$

1,041,2493.24.0(0.8)Diabetes Care474,894445,1646.77.9(1.2)Pharmaceutical Systems496,047485,1712.23.1(0.9)TOTAL

$

2,045,444

$

1,971,5843.74.7(1.0)BD DIAGNOSTICSPreanalytical Systems

$

664,798

$

639,9353.94.5(0.6)Diagnostic Systems646,067610,8275.86.6(0.8)TOTAL

$

1,310,865

$

1,250,7624.85.5(0.7)BD BIOSCIENCES 

$

544,258

$

538,3351.12.6(1.5)TOTAL REVENUES

$

3,900,567

$

3,760,6813.74.7(1.0) 

 

BECTON DICKINSON AND COMPANYSUPPLEMENTAL REVENUE INFORMATIONSAFETY REVENUES(Unaudited; Amounts in thousands)Three Months Ended March 31, % Change 20132012 Reported FXNFX ImpactTOTAL SAFETY REVENUESUnited States

$

287,369

$

282,7331.61.6-International227,066205,36910.611.1(0.5)TOTAL

$

514,435

$

488,1025.45.6(0.2)BY SEGMENTBD Medical

$

256,346

$

235,9288.79.0(0.3)BD Diagnostics258,089252,1742.32.4(0.1)TOTAL

$

514,435

$

488,1025.45.6(0.2)Six Months Ended March 31, % Change 20132012 Reported FXNFX ImpactTOTAL SAFETY REVENUESUnited States

$

578,312

$

573,3450.90.9-International447,299402,32611.212.7(1.5)TOTAL

$

1,025,611

$

975,6715.15.7(0.6)BY SEGMENTBD Medical

$

508,202

$

475,7116.87.5(0.7)BD Diagnostics517,409499,9603.54.1(0.6)TOTAL

$

1,025,611

$

975,6715.15.7(0.6) 

BECTON DICKINSON AND COMPANYSUPPLEMENTAL INFORMATIONQuarter-to-Date Fiscal 2013 Reconciliation - FX Impact(Unaudited; Amounts in millions, except per share data)Three Months Ended March 31,ReportedReportedReported Growth Foreign CurrencyFXNFXN FY2013FY2012$Translation Change GrowthREVENUES

$

2,000

$

1,929

$

71

$

(8)

$

794.1%Diluted Earnings per Sharefrom Continuing Operations

$

1.39

$

1.31

$

0.08

$

(0.02)

$

0.107.6%FXN = Foreign Currency NeutralAll figures rounded. Totals may not add due to rounding.BECTON DICKINSON AND COMPANYSUPPLEMENTAL INFORMATIONYear-to-Date Fiscal 2013 Reconciliation - FX Impact(Unaudited; Amounts in millions, except per share data)Six Months Ended March 31,ReportedReportedReported Growth Foreign CurrencyFXNFXN FY2013FY2012$Translation Change GrowthREVENUES

$

3,901

$

3,761

$

140

$

(35)

$

1754.7%Diluted Earnings per Sharefrom Continuing Operations

$

2.74

$

2.45

$

0.29

$

0.00

$

0.2911.8%FXN = Foreign Currency NeutralAll figures rounded. Totals may not add due to rounding. 

 

BECTON DICKINSON AND COMPANYSUPPLEMENTAL INFORMATIONFY2013 Quarter-to-Date Reconciliation(Unaudited; Amounts in millions, except per share data)Three Months Ended March 31,ReportedMedical DeviceAdjustedReportedAdjustedFY 2013Excise Tax(1)FY 2013FY 2012%GrowthDiluted Earnings per Sharefrom Continuing Operations

$

1.39

$

0.05

$

1.44

$

1.319.9%(1) Represents the medical device excise tax which went into effect in January 2013
under the U.S. Patient Protection and Affordable Care Act.
All figures rounded. Totals may not add due to rounding.BECTON DICKINSON AND COMPANYSUPPLEMENTAL INFORMATIONFY2013 Year-to-Date Reconciliation(Unaudited; Amounts in millions, except per share data)Six Months Ended March 31,ReportedMedical DeviceAdjustedReportedAdjustedFY 2013Excise Tax(1)FY 2013FY 2012%GrowthDiluted Earnings per Sharefrom Continuing Operations

$

2.74

$

0.05

$

2.79

$

2.45

$

13.9%(1) Represents the medical device excise tax which went into effect in January 2013
under the U.S. Patient Protection and Affordable Care Act.
All figures rounded. Totals may not add due to rounding. 

 

BECTON DICKINSON AND COMPANYSUPPLEMENTAL INFORMATIONQuarter-to-Date Fiscal 2013 Reconciliation - Adjusted FX Impact(Unaudited; Amounts in millions, except per share data)Three Months Ended March 31,AdjustedReportedAdjusted
Growth Foreign
CurrencyFXNFXN FY 2013FY 2012$Translation Change GrowthDiluted Earnings per Sharefrom Continuing Operations

$

1.44

$

1.31

$

0.13

$

(0.02)

$

0.1511.5%FXN = Foreign Currency NeutralAll figures rounded. Totals may not add due to rounding.BECTON DICKINSON AND COMPANYSUPPLEMENTAL INFORMATIONYear-to-Date Fiscal 2013 Reconciliation - Adjusted FX Impact(Unaudited; Amounts in millions, except per share data)Six Months Ended March 31,AdjustedReportedAdjusted
Growth Foreign
CurrencyFXNFXN FY 2013FY 2012$Translation Change GrowthDiluted Earnings per Sharefrom Continuing Operations

$

2.79

$

2.45

$

0.34

$

0.00

$

0.3413.9%FXN = Foreign Currency NeutralAll figures rounded. Totals may not add due to rounding. BECTON DICKINSON AND COMPANYSUPPLEMENTAL INFORMATIONFY2013 Outlook ReconciliationReportedBasisFX ImpactFXN BasisRevenues - Full Year 2013 estimated growth3.5% - 4.0%(1.0%)4.5% - 5.0%Full YearFull Year20132012% Increase(estimated)Reported Fully Diluted Earnings per Share from Continuing Operations

$

5.72 - 5.75

$

5.30NMPension Settlement Charge (1)0.06Adjusted Fully Diluted Earnings per Share from Continuing Operations

$

5.72 - 5.75

$

5.376.5% - 7.0%FX Impact(2.0%)Adjusted FXN Growth8.5% - 9.0%Medical Device Excise Tax Impact (2)(2.5%)Adjusted FXN Growth (excluding the medical device excise tax)11.0% - 11.5% 

(1)

Primarily represents a non-cash pension settlement charge associated with lump sum benefit payments made from the Company's U.S. supplemental pension plan, as such payments exceeded the service and interest components of the plan's pension cost for the year.  The charge also included settlement losses associated with certain foreign pension plans.(2)

Represents the medical device excise tax which went into effect in January 2013 under the U.S. Patient Protection and Affordable Care Act.NM - Not MeaningfulFXN = Foreign Currency NeutralAll figures rounded. Totals may not add due to rounding. 

 


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SOURCE BD (Becton, Dickinson and Company)
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(Date:6/24/2016)... June 24, 2016 Research and Markets ... for Companion Diagnostic Tests" report to their offering. ... Companion Diagnostics The World Market for Companion ... medicine diagnostics. Market analysis in the report includes the following: ... (In Vitro Diagnostic Kits) by Region (N. America, EU, ROW), ...
(Date:6/23/2016)... June 23, 2016  MedSource announced today that ... e-clinical software solution of choice.  This latest decision ... value to their clients by offering a state-of-the-art ... relationship establishes nowEDC as the EDC platform of ... full-service clients.  "nowEDC has long been a preferred ...
(Date:6/23/2016)... , June 23, 2016 Roche (SIX: RO, ... clearance for its Elecsys BRAHMS PCT (procalcitonin) assay as ... or septic shock. With this clearance, Roche is the ... fully integrated solution for sepsis risk assessment and management. ... bacterial infection and PCT levels in blood can aid ...
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(Date:6/25/2016)... ... , ... "With 30 hand-drawn hand gesture animations, FCPX users can easily customize ... Pixel Film Studios. , ProHand Cartoon’s package transforms over 1,300 hand-drawn pictures into ... Simply select a ProHand generator and drag it above media or text in the ...
(Date:6/25/2016)... ... June 25, 2016 , ... Dr. Calvin Johnson has ... he has implemented orthobiologic procedures as a method for treating his patients. The ... first doctors to perform the treatment. Orthobiologics are substances that orthopaedic surgeons use ...
(Date:6/24/2016)... ... June 24, 2016 , ... A recent article ... are unfamiliar with. The article goes on to state that individuals are now more ... these less common operations such as calf and cheek reduction. The Los Angeles area ...
(Date:6/24/2016)... CA (PRWEB) , ... June 24, 2016 , ... Marcy was in a crisis. Her ... would lash out at his family verbally and physically. , “When something upset him, he ... he would use it. He would throw rocks at my other children and say he ...
(Date:6/24/2016)... ... June 24, 2016 , ... Dr. Amanda Cheng, an ... Cheng has extensive experience with all areas of orthodontics, including robotic Suresmile technology, ... , Micro-osteoperforation is a revolutionary adjunct to orthodontic treatment. It can be ...
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