BD Announces Results For 2012 Fourth Fiscal Quarter And Full Year

Tools

BD Announces Results For 2012 Fourth Fiscal Quarter And Full Year

 

-- Adjusted fourth-quarter diluted earnings per share from continuing operations of $1.42 exclude a $0.07 per share charge from primarily non-cash pension settlements; reported earnings per share from continuing operations were $1.35.

-- Expects full fiscal year 2013 reported diluted earnings per share from continuing operations to be between $5.58 and $5.64, an increase of 4 to 5 percent. On a foreign currency-neutral basis, expects earnings per share to grow between 7 to 8 percent, or 10 to 11 percent, after excluding the estimated impact of the medical device tax.

-- Results reflect reclassification of Discovery Labware unit, excluding Advanced Bioprocessing, as discontinued operations. The sale was completed on October 31, 2012

FRANKLIN LAKES, N.J., Nov. 7, 2012 /PRNewswire/ -- BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, today reported quarterly revenues of $1.967 billion for the fourth fiscal quarter ended September 30, 2012, representing a decrease of 1.1 percent from the prior-year period, or an increase of 4.7 percent on a foreign currency-neutral basis. 

For the full fiscal year ended September 30, 2012, BD reported revenues of $7.708 billion, representing an increase of 1.6 percent over the prior-year period or 4.3 percent on a foreign currency-neutral basis.

"We are proud of our solid finish to 2012," said Vincent A. Forlenza, Chairman of the Board, Chief Executive Officer and President. "Despite a challenging macroeconomic environment, we delivered on our financial and operating goals while continuing our ongoing investments in geographic expansion, new product platforms and strategic acquisitions. We believe we are well positioned to succeed and will continue to focus on our strategy of investing and innovating for growth.  We are confident in our outlook for fiscal year 2013 and remain committed to delivering value to our customers and shareholders."

Sale of Discovery Labware Unit, Excluding Advanced Bioprocessing
In April 2012, the Company signed a definitive agreement to sell its BD Biosciences - Discovery Labware unit, excluding its Advanced Bioprocessing platform, to Corning Incorporated. 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. The transaction was completed on October 31, 2012 and the Company will record a gain within discontinued operations in the first quarter of fiscal year 2013.  

Fourth Quarter and Analysis of the Full Fiscal Year 2012 and 2011 Earnings
Reported diluted earnings per share from continuing operations for the fourth quarter were $1.35, representing an increase of 4.7 percent over the prior-year period. Current quarter results included a charge of $20 million, or $0.07 per share from continuing operations, resulting from primarily non-cash pension settlements. The prior-year period 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 these items, adjusted diluted earnings per share from continuing operations increased by 7.6 percent to $1.42, compared with $1.32 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 15.2 percent.

For the full fiscal year ended September 30, 2012, reported diluted earnings per share from continuing operations were $5.30, representing a decrease of 0.2 percent over the prior-year period.  Excluding the aforementioned charges of $0.06 per share from continuing operations in fiscal year 2012, and $0.03 per share from continuing operations in fiscal year 2011, adjusted diluted earnings per share from continuing operations increased by 0.8 percent to $5.37, compared with $5.33 in the prior-year period. On a foreign currency-neutral basis, adjusted diluted earnings per share from continuing operations for the fiscal year increased 4.7 percent. On a full year basis, the charge of $20 million, or $0.06 per share from continuing operations, differs from the charge in the fourth quarter of $0.07 per share from continuing operations due to the number of average shares outstanding between the fourth quarter and full year.

Segment Results
In the BD Medical segment, worldwide revenues for the quarter were $1.049 billion, representing a decrease of 0.5 percent compared with the prior-year period, or an increase of 5.9 percent on a currency-neutral basis. The segment's revenue growth reflected strong sales across all three business units. For the twelve-month period ended September 30, 2012, BD Medical revenues increased 2.1 percent, or 5.1 percent on a currency-neutral basis.

In the BD Diagnostics segment, worldwide revenues for the quarter were $645 million, representing an increase of 0.5 percent compared with the prior-year period, or 5.1 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 Diagnostic Systems unit, aided by the recent acquisition of KIESTRA.  For the twelve-month period ended September 30, 2012, BD Diagnostics revenues increased 2.3 percent, or 4.5 percent on a currency-neutral basis.

In the BD Biosciences segment, worldwide revenues for the quarter were $273 million, representing a decrease of 6.3 percent compared with the prior-year period, or 0.7 percent on a foreign currency-neutral basis.  Segment results continue to be negatively affected by weakness in the U.S. research market. For the twelve-month period ended September 30, 2012, BD Biosciences revenues decreased by 1.5 percent. On a foreign currency-neutral basis, revenues increased by 0.7 percent.

Geographic Results
Fourth quarter revenues in the U.S. were $824 million, representing an increase of 1.2 percent compared with the prior-year period. Revenues outside of the U.S. were $1.143 billion, representing a decrease of 2.6 percent compared with the prior-year period, or an increase of 7.1 percent on a foreign currency-neutral basis. International revenues reflected continued strength in emerging markets and strong sales of safety-engineered products. For the twelve-month period ended September 30, 2012, revenues in the U.S. were $3.288 billion, representing an increase of 1.2 percent compared with the prior-year period. Revenues outside of the U.S. were $4.421 billion, representing an increase of 1.9 percent compared with the prior-year period, or 6.6 percent on a foreign currency-neutral basis.

Fiscal 2013 Outlook for Full Year
The Company estimates that reported revenues for the full fiscal year 2013 will increase 2 to 3 percent, or about 3.5 to 4.5 percent on a foreign currency-neutral basis. The Company expects reported diluted earnings per share from continuing operations for the full fiscal year 2013 to be between $5.58 and $5.64. On a currency-neutral basis, the Company expects diluted earnings per share from continuing operations to grow 7 to 8 percent, or 10 to 11 percent excluding the impact of the medical device tax that goes into effect in January 2013 under the U.S. healthcare reform law. The Company also plans to repurchase, subject to market conditions, about $500 million of its common stock in 2013.

Conference Call Information
A conference call regarding BD's fourth quarter and full-year results and its expectations for the full fiscal year 2013 will be broadcast live on BD's website, www.bd.com/investors, along with related slides, at 8:00 a.m. (ET) Wednesday, November 7, 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 Wednesday, November 14, 2012, access code 35734482.

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 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.

Contact:
Monique N. Dolecki, Investor Relations – 201-847-5378
Colleen T. White, Corporate Communications – 201-847-5369

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: 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.

 

BECTON DICKINSON AND COMPANY

CONSOLIDATED INCOME STATEMENTS

(Unaudited; Amounts in thousands, except per share data)

 
 

Three Months Ended September 30,

   

2012

 

2011

 

% Change

             

REVENUES

$

1,967,171

$

1,988,181

 

(1.1)

             

Cost of products sold

 

966,345

 

971,041

 

(0.5)

Selling and administrative 

 

484,259

 

479,591

 

1.0

Research and development

 

127,787

 

124,528

 

2.6

TOTAL OPERATING COSTS

           

     AND EXPENSES

 

1,578,391

 

1,575,160

 

0.2

             

OPERATING INCOME

 

388,780

 

413,021

 

(5.9)

             

Interest income

 

11,954

 

1,915

 

        NM 

Interest expense

 

(35,292)

 

(22,334)

 

58.0

Other (expense) income, net

 

(3,543)

 

1,272

 

        NM 

             

INCOME FROM CONTINUING OPERATIONS BEFORE

           

     INCOME TAXES

 

361,899

 

393,874

 

(8.1)

             

Income tax provision

 

87,621

 

108,827

 

(19.5)

             

INCOME FROM CONTINUING OPERATIONS

 

274,278

 

285,047

 

(3.8)

             

INCOME FROM DISCONTINUED OPERATIONS

           

   NET OF INCOME TAX PROVISION OF

           

$9,108 AND $8,860, RESPECTIVELY

 

14,765

 

14,933

 

(1.1)

             

NET INCOME

$

289,043

$

299,980

 

(3.6)

             

EARNINGS PER SHARE

           
             

Basic:

           

Income from continuing operations

$

1.38

$

1.32

 

4.5

Income from discontinued operations

$

0.07

$

0.07

 

-

Net income (1)

$

1.45

$

1.38

 

5.1

             

Diluted:

           

Income from continuing operations

$

1.35

$

1.29

 

4.7

Income from discontinued operations

$

0.07

$

0.07

 

-

Net income (1)

$

1.43

$

1.36

 

5.1

             
             

AVERAGE SHARES OUTSTANDING

           
             

     Basic

 

199,072

 

216,726

   

     Diluted

 

202,439

 

220,859

   
             

NM - Not Meaningful

           

(1) Total per share amounts may not add due to rounding.

           

BECTON DICKINSON AND COMPANY

CONSOLIDATED INCOME STATEMENTS

(Unaudited; Amounts in thousands, except per share data)

 
 

Twelve Months Ended September 30,

   

2012

 

2011

 

% Change

             

REVENUES

$

7,708,382

$

7,584,037

 

1.6

             

Cost of products sold

 

3,755,388

 

3,625,122

 

3.6

Selling and administrative 

 

1,923,354

 

1,823,537

 

5.5

Research and development

 

471,755

 

469,517

 

0.5

TOTAL OPERATING COSTS

           

     AND EXPENSES

 

6,150,497

 

5,918,176

 

3.9

             

OPERATING INCOME

 

1,557,885

 

1,665,861

 

(6.5)

             

Interest income

 

50,333

 

43,209

 

16.5

Interest expense

 

(134,658)

 

(84,019)

 

60.3

Other expense, net

 

(1,152)

 

(7,164)

 

(83.9)

             

INCOME FROM CONTINUING OPERATIONS BEFORE

           

     INCOME TAXES

 

1,472,408

 

1,617,887

 

(9.0)

             

Income tax provision

 

362,880

 

417,004

 

(13.0)

             

INCOME FROM CONTINUING OPERATIONS

 

1,109,528

 

1,200,883

 

(7.6)

             

INCOME FROM DISCONTINUED OPERATIONS

           

   NET OF INCOME TAX PROVISION OF

           

$31,268 AND $35,199, RESPECTIVELY

 

60,399

 

70,111

 

(13.9)

             

NET INCOME

$

1,169,927

$

1,270,994

 

(8.0)

             

EARNINGS PER SHARE

           
             

Basic:

           

Income from continuing operations

$

5.40

$

5.43

 

(0.6)

Income from discontinued operations

$

0.29

$

0.32

 

(9.4)

Net income

$

5.69

$

5.75

 

(1.0)

             

Diluted:

           

Income from continuing operations

$

5.30

$

5.31

 

(0.2)

Income from discontinued operations

$

0.29

$

0.31

 

(6.5)

Net income 

$

5.59

$

5.62

 

(0.5)

             
             

AVERAGE SHARES OUTSTANDING

           
             

     Basic

 

205,460

 

221,175

   

     Diluted

 

209,181

 

226,280

   
             

Becton Dickinson and Company

Supplemental Income Statement Information - Fiscal 2012

Revised for discontinued operations of Discovery Labware divestiture

(Unaudited: Amounts in thousands, except per-share data)

             
             
       

Amounts

   
       

reclassified to

 

From 

       

 Discontinued

 

Continuing

   

Pro Forma

 

Operations

 

Operations

Quarter 1

           

Revenues

$

1,887,645

$

55,925

$

1,831,720

Income 

$

263,010

$

14,466

$

248,544

Diluted Earnings Per Share

$

1.21

$

0.07

$

1.14

             

Quarter 2

           

Revenues

$

1,990,818

$

61,857

$

1,928,961

Income 

$

290,548

$

15,424

$

275,124

Diluted Earnings Per Share

$

1.38

$

0.07

$

1.31

             

Quarter 3

           

Revenues

$

2,040,760

$

60,230

$

1,980,530

Income 

$

326,795

$

15,214

$

311,581

Diluted Earnings Per Share

$

1.59

$

0.07

$

1.52

             

Quarter 4

           

Revenues

$

2,027,335

$

60,164

$

1,967,171

Income 

$

289,099

$

14,821

$

274,278

Diluted Earnings Per Share (1)

$

1.43

$

0.07

$

1.35

             

YTD 

           

Revenues

$

7,946,559

$

238,177

$

7,708,382

Income 

$

1,169,453

$

59,925

$

1,109,528

Diluted Earnings Per Share 

$

5.59

$

0.29

$

5.30

             
             
             

Certain 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 Company

Supplemental Income Statement Information - Fiscal 2011 and 2010

Revised for discontinued operations of Discovery Labware divestiture

(Unaudited: Amounts in thousands, except per-share data)

             
       

Amounts 

   
       

reclassified to

 

From 

       

 Discontinued

 

Continuing

   

Pro Forma

 

Operations

 

Operations

Fiscal 2011

           

Revenues

$

7,828,904

$

244,867

$

7,584,037

Income 

$

1,264,852

$

63,969

$

1,200,883

Diluted Earnings Per Share

$

5.59

$

0.28

$

5.31

             
             

Fiscal 2010

           

Revenues

$

7,372,333

$

247,948

$

7,124,385

Income 

$

1,176,340

$

61,496

$

1,114,844

Diluted Earnings Per Share

$

4.90

$

0.26

$

4.64

BECTON DICKINSON AND COMPANY

SUPPLEMENTAL REVENUE INFORMATION

REVENUES BY SEGMENT AND GEOGRAPHIC AREA

(Unaudited; Amounts in thousands)

             
 

Three Months Ended September 30,

   

2012

 

2011

 

% Change

             

BD MEDICAL

           

   United States

$

422,290

$

404,301

 

4.4

   International

 

626,742

 

650,290

 

(3.6)

TOTAL

$

1,049,032

$

1,054,591

 

(0.5)

             

BD DIAGNOSTICS

           

   United States

$

313,916

$

313,603

 

0.1

   International

 

331,128

 

328,445

 

0.8

TOTAL

$

645,044

$

642,048

 

0.5

             

BD BIOSCIENCES

           

   United States

$

87,651

$

96,543

 

(9.2)

   International

 

185,444

 

194,999

 

(4.9)

TOTAL

$

273,095

$

291,542

 

(6.3)

             

TOTAL REVENUES

           

   United States

$

823,857

$

814,447

 

1.2

   International

 

1,143,314

 

1,173,734

 

(2.6)

TOTAL

$

1,967,171

$

1,988,181

 

(1.1)

             

BECTON DICKINSON AND COMPANY

SUPPLEMENTAL REVENUE INFORMATION

REVENUES BY SEGMENT AND GEOGRAPHIC AREA

(Unaudited; Amounts in thousands)

 
 

Twelve Months Ended September 30,

   

2012

 

2011

 

% Change

             

BD MEDICAL

           

   United States

$

1,685,101

$

1,625,044

 

3.7

   International

 

2,405,592

 

2,382,260

 

1.0

TOTAL

$

4,090,693

$

4,007,304

 

2.1

             

BD DIAGNOSTICS

           

   United States

$

1,259,376

$

1,245,872

 

1.1

   International

 

1,278,679

 

1,234,605

 

3.6

TOTAL

$

2,538,055

$

2,480,477

 

2.3

             

BD BIOSCIENCES

           

   United States

$

343,238

$

376,639

 

(8.9)

   International

 

736,396

 

719,617

 

2.3

TOTAL

$

1,079,634

$

1,096,256

 

(1.5)

             

TOTAL REVENUES

           

   United States

$

3,287,715

$

3,247,555

 

1.2

   International

 

4,420,667

 

4,336,482

 

1.9

TOTAL

$

7,708,382

$

7,584,037

 

1.6

BECTON DICKINSON AND COMPANY

SUPPLEMENTAL REVENUE INFORMATION

REVENUES BY BUSINESS SEGMENTS AND UNITS

Three Months Ended September 30,

(Unaudited; Amounts in thousands)

 
 

United States

   

2012

 

2011

 

 % Change 

             

BD MEDICAL

           

   Medical Surgical Systems

$

250,664

$

246,746

 

1.6

   Diabetes Care

 

113,046

 

104,819

 

7.8

   Pharmaceutical Systems

 

58,580

 

52,736

 

11.1

TOTAL

$

422,290

$

404,301

 

4.4

             

BD DIAGNOSTICS

           

   Preanalytical Systems

$

164,856

$

161,556

 

2.0

   Diagnostic Systems

 

149,060

 

152,047

 

(2.0)

TOTAL

$

313,916

$

313,603

 

0.1

             

BD BIOSCIENCES (1)

$

87,651

$

96,543

 

(9.2)

             

TOTAL UNITED STATES

$

823,857

$

814,447

 

1.2

             

(1) BD Biosciences consists of the Cell Analysis unit and the Advanced Bioprocessing platform. 

    Advanced Bioprocessing was previously reported with the Discovery Labware unit.

 

BECTON DICKINSON AND COMPANY

SUPPLEMENTAL REVENUE INFORMATION

REVENUES BY BUSINESS SEGMENTS AND UNITS

Three Months Ended September 30, (continued)

(Unaudited; Amounts in thousands)

 
 

International

           

 % Change 

   

2012

 

2011

 

 Reported 

 

FXN

 

FX Impact

                     

BD MEDICAL

                   

   Medical Surgical Systems

$

281,603

$

288,653

 

(2.4)

 

6.8

 

(9.2)

   Diabetes Care

 

120,391

 

119,832

 

0.5

 

9.8

 

(9.3)

   Pharmaceutical Systems

 

224,748

 

241,805

 

(7.1)

 

5.3

 

(12.4)

TOTAL

$

626,742

$

650,290

 

(3.6)

 

6.8

 

(10.4)

                     

BD DIAGNOSTICS

                   

   Preanalytical Systems

$

162,648

$

167,044

 

(2.6)

 

7.3

 

(9.9)

   Diagnostic Systems

 

168,480

 

161,401

 

4.4

 

12.7

 

(8.3)

TOTAL

$

331,128

$

328,445

 

0.8

 

9.9

 

(9.1)

                     

BD BIOSCIENCES (1)

$

185,444

$

194,999

 

(4.9)

 

3.5

 

(8.4)

                     

TOTAL INTERNATIONAL

$

1,143,314

$

1,173,734

 

(2.6)

 

7.1

 

(9.7)

                     

(1) BD Biosciences consists of the Cell Analysis unit and the Advanced Bioprocessing platform. 

    Advanced Bioprocessing was previously reported with the Discovery Labware unit.

 

BECTON DICKINSON AND COMPANY

SUPPLEMENTAL REVENUE INFORMATION

REVENUES BY BUSINESS SEGMENTS AND UNITS

Three Months Ended September 30, (continued)

(Unaudited; Amounts in thousands)

 
 

Total

           

 % Change 

   

2012

 

2011

 

 Reported 

 

FXN

 

FX Impact

                     

BD MEDICAL 

                   

   Medical Surgical Systems

$

532,267

$

535,399

 

(0.6)

 

4.4

 

(5.0)

   Diabetes Care

 

233,437

 

224,651

 

3.9

 

8.9

 

(5.0)

   Pharmaceutical Systems

 

283,328

 

294,541

 

(3.8)

 

6.4

 

(10.2)

TOTAL

$

1,049,032

$

1,054,591

 

(0.5)

 

5.9

 

(6.4)

                     

BD DIAGNOSTICS

                   

   Preanalytical Systems

$

327,504

$

328,600

 

(0.3)

 

4.7

 

(5.0)

   Diagnostic Systems

 

317,540

 

313,448

 

1.3

 

5.6

 

(4.3)

TOTAL

$

645,044

$

642,048

 

0.5

 

5.1

 

(4.6)

                     

BD BIOSCIENCES (1)

$

273,095

$

291,542

 

(6.3)

 

(0.7)

 

(5.6)

                     

TOTAL REVENUES

$

1,967,171

$

1,988,181

 

(1.1)

 

4.7

 

(5.8)

                     

(1) BD Biosciences consists of the Cell Analysis unit and the Advanced Bioprocessing platform. 

    Advanced Bioprocessing was previously reported with the Discovery Labware unit.

BECTON DICKINSON AND COMPANY

SUPPLEMENTAL REVENUE INFORMATION

REVENUES BY BUSINESS SEGMENTS AND UNITS

Twelve Months Ended September 30,

(Unaudited; Amounts in thousands)

 
 

United States

   

2012

 

2011

 

 % Change 

             

BD MEDICAL

           

   Medical Surgical Systems

$

977,999

$

980,326

 

(0.2)

   Diabetes Care

 

434,310

 

400,809

 

8.4

   Pharmaceutical Systems

 

272,792

 

243,909

 

11.8

TOTAL

$

1,685,101

$

1,625,044

 

3.7

             

BD DIAGNOSTICS

           

   Preanalytical Systems

$

656,389

$

643,180

 

2.1

   Diagnostic Systems

 

602,987

 

602,692

 

0.0

TOTAL

$

1,259,376

$

1,245,872

 

1.1

             

BD BIOSCIENCES  (1)

$

343,238

$

376,639

 

(8.9)

             

TOTAL UNITED STATES

$

3,287,715

$

3,247,555

 

1.2

             

(1) BD Biosciences consists of the Cell Analysis unit and the Advanced Bioprocessing platform. 

    Advanced Bioprocessing was previously reported with the Discovery Labware unit.

BECTON DICKINSON AND COMPANY

SUPPLEMENTAL REVENUE INFORMATION

REVENUES BY BUSINESS SEGMENTS AND UNITS

Twelve Months Ended September 30, (continued)

(Unaudited; Amounts in thousands)

 
 

International

           

 % Change 

   

2012

 

2011

 

 Reported 

 

FXN

 

FX Impact

                     

BD MEDICAL

                   

   Medical Surgical Systems

$

1,127,289

$

1,101,407

 

2.3

 

6.9

 

(4.6)

   Diabetes Care

 

476,966

 

465,668

 

2.4

 

6.8

 

(4.4)

   Pharmaceutical Systems

 

801,337

 

815,185

 

(1.7)

 

4.4

 

(6.1)

TOTAL

$

2,405,592

$

2,382,260

 

1.0

 

6.1

 

(5.1)

                     

BD DIAGNOSTICS

                   

   Preanalytical Systems

$

644,503

$

634,613

 

1.6

 

6.7

 

(5.1)

   Diagnostic Systems

 

634,176

 

599,992

 

5.7

 

9.4

 

(3.7)

TOTAL

$

1,278,679

$

1,234,605

 

3.6

 

8.0

 

(4.4)

                     

BD BIOSCIENCES (1)

$

736,396

$

719,617

 

2.3

 

5.8

 

(3.5)

                     

TOTAL INTERNATIONAL

$

4,420,667

$

4,336,482

 

1.9

 

6.6

 

(4.7)

                     

(1) BD Biosciences consists of the Cell Analysis unit and the Advanced Bioprocessing platform. 

    Advanced Bioprocessing was previously reported with the Discovery Labware unit.

BECTON DICKINSON AND COMPANY

SUPPLEMENTAL REVENUE INFORMATION

REVENUES BY BUSINESS SEGMENTS AND UNITS

Twelve Months Ended September 30, (continued)

(Unaudited; Amounts in thousands)

 
 

Total

           

 % Change 

   

2012

 

2011

 

 Reported 

 

FXN

 

FX Impact

                     

BD MEDICAL 

                   

   Medical Surgical Systems

$

2,105,288

$

2,081,733

 

1.1

 

3.6

 

(2.5)

   Diabetes Care

 

911,276

 

866,477

 

5.2

 

7.5

 

(2.3)

   Pharmaceutical Systems

 

1,074,129

 

1,059,094

 

1.4

 

6.2

 

(4.8)

TOTAL

$

4,090,693

$

4,007,304

 

2.1

 

5.1

 

(3.0)

                     

BD DIAGNOSTICS

                   

   Preanalytical Systems

$

1,300,892

$

1,277,793

 

1.8

 

4.3

 

(2.5)

   Diagnostic Systems

 

1,237,163

 

1,202,684

 

2.9

 

4.7

 

(1.8)

TOTAL

$

2,538,055

$

2,480,477

 

2.3

 

4.5

 

(2.2)

                     

BD BIOSCIENCES  (1)

$

1,079,634

$

1,096,256

 

(1.5)

 

0.7

 

(2.2)

                     

TOTAL REVENUES

$

7,708,382

$

7,584,037

 

1.6

 

4.3

 

(2.7)

                     

(1) BD Biosciences consists of the Cell Analysis unit and the Advanced Bioprocessing platform. 

    Advanced Bioprocessing was previously reported with the Discovery Labware unit.

BECTON DICKINSON AND COMPANY

SUPPLEMENTAL REVENUE INFORMATION

SAFETY REVENUES

(Unaudited; Amounts in thousands)

 
 

Three Months Ended September 30,

           

 % Change 

   

2012

 

2011

 

 Reported 

 

FXN

 

FX Impact

                     

TOTAL SAFETY REVENUES

                   

   United States

$

291,046

$

288,541

 

0.9

 

0.9

 

-

   International

 

215,595

 

209,209

 

3.1

 

12.7

 

(9.6)

TOTAL

$

506,641

$

497,750

 

1.8

 

5.8

 

(4.0)

                     

BY SEGMENT

                   

   BD Medical

$

250,676

$

243,521

 

2.9

 

6.4

 

(3.5)

   BD Diagnostics

 

255,965

 

254,229

 

0.7

 

5.3

 

(4.6)

TOTAL

$

506,641

$

497,750

 

1.8

 

5.8

 

(4.0)

                     
                     
 

Twelve Months Ended September 30,

           

 % Change 

   

2012

 

2011

 

 Reported 

 

FXN

 

FX Impact

                     

TOTAL SAFETY REVENUES

                   

   United States

$

1,149,220

$

1,116,543

 

2.9

 

2.9

 

-

   International

 

833,886

 

754,739

 

10.5

 

15.6

 

(5.1)

TOTAL

$

1,983,106

$

1,871,282

 

6.0

 

8.0

 

(2.0)

                     

BY SEGMENT

                   

   BD Medical

$

966,452

$

885,156

 

9.2

 

10.8

 

(1.6)

   BD Diagnostics

 

1,016,654

 

986,126

 

3.1

 

5.6

 

(2.5)

TOTAL

$

1,983,106

$

1,871,282

 

6.0

 

8.0

 

(2.0)

Click to view table full screen

BECTON DICKINSON AND COMPANY

SUPPLEMENTAL INFORMATION

FY2012 Quarter-to-Date Reconciliation

(Unaudited; Amounts in millions, except per share data)

 
 

Three Months Ended September 30,

   

Reported

 

Pension

Settlement 

 

Adjusted

 

Reported

 

Impairment

 

Adjusted

 

Adjusted

   

FY 2012

 

 Charge(1)

 

FY 2012

 

FY 2011

 

Charge(2)

 

FY 2011

 

%Growth

                             

Diluted Earnings per Share

                           

from Continuing Operations

$

1.35

$

0.07

$

1.42

$

1.29

 

0.03

$

1.32

 

7.6%

                             

(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 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.

 

Click to view table full screen

BECTON DICKINSON AND COMPANY

SUPPLEMENTAL INFORMATION

FY2012 Year-to-Date Reconciliation

(Unaudited; Amounts in millions, except per share data)

 
 

Twelve Months Ended September 30,

   

Reported

 

Pension

Settlement 

 

Adjusted

 

Reported

 

Impairment

 

Adjusted

 

Adjusted

   

FY 2012

 

  Charge(1)

 

FY 2012

 

FY 2011

 

Charge(2)

 

FY 2011

 

%Growth

                             

Diluted Earnings per Share

                           

from Continuing Operations

$

5.30

$

0.06

$

5.37

$

5.31

$

0.03

$

5.33

 

0.8%

                             

(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 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.

 

BECTON DICKINSON AND COMPANY

SUPPLEMENTAL INFORMATION

Quarter-to-Date Fiscal 2012 Reconciliation - FX Impact

(Unaudited; Amounts in millions, except per share data)

 
 

Three Months Ended September 30,

   

Adjusted

 

Adjusted

 

Adjusted

Growth 

 

Foreign

Currency

 

FXN

 

FXN 

   

FY 2012

 

FY 2011

 

$

 

Translation

 

 Change 

 

Growth

                         

REVENUES

$

1,967

$

1,988

$

(21)

$

(114)

$

93

 

4.7%

                         

Diluted Earnings per Share

                       

from Continuing Operations

$

1.42

$

1.32

$

0.10

$

(0.10)

$

0.20

 

15.2%

                         

FXN - Foreign Currency Neutral

All figures rounded. Totals may not add due to rounding.

 

BECTON DICKINSON AND COMPANY

SUPPLEMENTAL INFORMATION

Year-to-Date Fiscal 2012 Reconciliation - FX Impact

(Unaudited; Amounts in millions, except per share data)

 
 

Twelve Months Ended September 30,

   

Adjusted

 

Adjusted

 

Adjusted

Growth 

 

Foreign

Currency

 

FXN

 

FXN 

   

FY 2012

 

FY 2011

 

$

 

Translation

 

 Change 

 

Growth

                         

REVENUES

$

7,708

$

7,584

$

124

$

(200)

$

325

 

4.3%

                         

Diluted Earnings per Share

                       

from Continuing Operations

$

5.37

$

5.33

$

0.04

$

(0.21)

$

0.25

 

4.7%

                         

FXN - Foreign Currency Neutral

All figures rounded. Totals may not add due to rounding.

 

BECTON DICKINSON AND COMPANY

SUPPLEMENTAL INFORMATION

FY2013 Outlook Reconciliation

   

EPS

 

Revenues

Growth

 

4-5%

 

2-3%

FX impact

 

(3%)

 

(1.5%)

FX neutral growth

 

7-8%

 

3.5%-4.5%

Device tax impact

 

(3%)

   
   

10-11%

   
 

 

SOURCE BD (Becton, Dickinson and Company)


PR Newswire (http://s.tt/1sp7E)