BD Announces Results For 2012 Third Fiscal Quarter

-- Reported results reflect reclassification of Discovery Labware unit as discontinued operations, excluding Advanced Bioprocessing.

-- Third-quarter earnings per share of $1.59 include $1.52 from continuing operations and $0.07 from discontinued operations relating to the Discovery Labware unit.

Aug 02, 2012, 06:00 ET from BD (Becton, Dickinson and Company)

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 Bioprocessing

In 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 Results

Reported 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 Results

In 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 Results

Third 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 Information

A 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 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.

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 – 201-847-5369

BECTON DICKINSON AND COMPANY

CONSOLIDATED INCOME STATEMENTS

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

Three Months Ended June 30,

2012

2011

% Change

REVENUES

$

1,980,530

$

1,951,889

1.5

Cost of products sold

947,395

922,652

2.7

Selling and administrative 

469,130

467,968

0.2

Research and development

114,987

114,078

0.8

TOTAL OPERATING COSTS

     AND EXPENSES

1,531,512

1,504,698

1.8

OPERATING INCOME

449,018

447,191

0.4

Interest income

6,253

11,508

(45.7)

Interest expense

(34,849)

(22,211)

56.9

Other expense, net

(1,881)

(1,318)

42.7

INCOME FROM CONTINUING OPERATIONS BEFORE

     INCOME TAXES

418,541

435,170

(3.8)

Income tax provision

106,960

113,630

(5.9)

INCOME FROM CONTINUING OPERATIONS

311,581

321,540

(3.1)

INCOME FROM DISCONTINUED OPERATIONS

   NET OF INCOME TAX PROVISION OF

   $7,288 AND $9,012, RESPECTIVELY

15,285

21,518

(29.0)

NET INCOME

$

326,866

$

343,058

(4.7)

EARNINGS PER SHARE

Basic:

Income from continuing operations

$

1.54

$

1.47

4.8

Income from discontinued operations

$

0.08

$

0.10

(20.0)

Net income 

$

1.62

$

1.57

3.2

Diluted:

Income from continuing operations

$

1.52

$

1.44

5.6

Income from discontinued operations

$

0.07

$

0.10

(30.0)

Net income (1)

$

1.59

$

1.53

3.9

AVERAGE SHARES OUTSTANDING

     Basic

202,015

218,966

     Diluted

205,290

223,567

(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)

Nine Months Ended June 30,

2012

2011

% Change

REVENUES

$

5,741,211

$

5,595,856

2.6

Cost of products sold

2,789,044

2,654,081

5.1

Selling and administrative 

1,439,094

1,343,946

7.1

Research and development

343,968

344,989

(0.3)

TOTAL OPERATING COSTS

     AND EXPENSES

4,572,106

4,343,016

5.3

OPERATING INCOME

1,169,105

1,252,840

(6.7)

Interest income

38,379

41,294

(7.1)

Interest expense

(99,367)

(61,685)

61.1

Other income (expense), net

2,392

(8,436)

        NM 

INCOME FROM CONTINUING OPERATIONS BEFORE

     INCOME TAXES

1,110,509

1,224,013

(9.3)

Income tax provision

275,260

308,177

(10.7)

INCOME FROM CONTINUING OPERATIONS

835,249

915,836

(8.8)

INCOME FROM DISCONTINUED OPERATIONS

   NET OF INCOME TAX PROVISION OF

   $22,158 AND $26,338, RESPECTIVELY

45,635

55,179

(17.3)

NET INCOME

$

880,884

$

971,015

(9.3)

EARNINGS PER SHARE

Basic:

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 OUTSTANDING

     Basic

207,605

222,674

     Diluted

211,254

227,782

NM - Not Meaningful

 

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

Previously

 Discontinued

As

Reported

Operations

Revised

Quarter 1

Revenues

$

1,887,645

$

55,925

$

1,831,720

Income from Continuing Operations

$

263,010

$

14,466

$

248,544

Diluted Earnings Per Share from Continuing Operations

$

1.21

$

0.07

$

1.14

Quarter 2

Revenues

$

1,990,818

$

61,857

$

1,928,961

Income from Continuing Operations

$

290,548

$

15,424

$

275,124

Diluted Earnings Per Share from Continuing Operations

$

1.38

$

0.07

$

1.31

Amounts

reclassified to

From 

 Discontinued

Continuing

Pro Forma

Operations

Operations

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

YTD 

Revenues

$

5,919,224

$

178,013

$

5,741,211

Income 

$

880,353

$

45,104

$

835,249

Diluted Earnings Per Share (1)

$

4.17

$

0.21

$

3.95

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

Previously

 Discontinued

As

Reported

Operations

Revised

Fiscal 2011

Revenues

$

7,828,904

$

244,867

$

7,584,037

Income from Continuing Operations

$

1,264,852

$

63,969

$

1,200,883

Diluted Earnings Per Share from Continuing Operations

$

5.59

$

0.28

$

5.31

Fiscal 2010

Revenues

$

7,372,333

$

247,948

$

7,124,385

Income from Continuing Operations

$

1,176,340

$

61,496

$

1,114,844

Diluted Earnings Per Share from Continuing Operations

$

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 June 30,

2012

2011

% Change

BD MEDICAL

   United States

$

429,621

$

416,729

3.1

   International

640,455

628,107

2.0

TOTAL

$

1,070,076

$

1,044,836

2.4

BD DIAGNOSTICS

   United States

$

315,240

$

312,802

0.8

   International

327,010

318,557

2.7

TOTAL

$

642,250

$

631,359

1.7

BD BIOSCIENCES

   United States

$

91,674

$

97,914

(6.4)

   International

176,530

177,780

(0.7)

TOTAL

$

268,204

$

275,694

(2.7)

TOTAL REVENUES

   United States

$

836,535

$

827,445

1.1

   International

1,143,995

1,124,444

1.7

TOTAL

$

1,980,530

$

1,951,889

1.5

 

BECTON DICKINSON AND COMPANY

SUPPLEMENTAL REVENUE INFORMATION

REVENUES BY SEGMENT AND GEOGRAPHIC AREA

(Unaudited; Amounts in thousands)

Nine Months Ended June 30,

2012

2011

% Change

BD MEDICAL

   United States

$

1,262,811

$

1,220,744

3.4

   International

1,778,849

1,731,969

2.7

TOTAL

$

3,041,660

$

2,952,713

3.0

BD DIAGNOSTICS

   United States

$

945,460

$

932,269

1.4

   International

947,552

906,160

4.6

TOTAL

$

1,893,012

$

1,838,429

3.0

BD BIOSCIENCES

   United States

$

255,587

$

280,096

(8.8)

   International

550,952

524,618

5.0

TOTAL

$

806,539

$

804,714

0.2

TOTAL REVENUES

   United States

$

2,463,858

$

2,433,109

1.3

   International

3,277,353

3,162,747

3.6

TOTAL

$

5,741,211

$

5,595,856

2.6

 

BECTON DICKINSON AND COMPANY

SUPPLEMENTAL REVENUE INFORMATION

REVENUES BY BUSINESS SEGMENTS AND UNITS

Three Months Ended June 30,

(Unaudited; Amounts in thousands)

United States

2012

2011

 % Change 

BD MEDICAL

   Medical Surgical Systems

$

241,320

$

244,756

(1.4)

   Diabetes Care

110,013

100,465

9.5

   Pharmaceutical Systems

78,288

71,508

9.5

TOTAL

$

429,621

$

416,729

3.1

BD DIAGNOSTICS

   Preanalytical Systems

$

165,962

$

162,589

2.1

   Diagnostic Systems

149,278

150,213

(0.6)

TOTAL

$

315,240

$

312,802

0.8

BD BIOSCIENCES

   Cell Analysis (1)

$

91,674

$

97,914

(6.4)

TOTAL

$

91,674

$

97,914

(6.4)

TOTAL UNITED STATES

$

836,535

$

827,445

1.1

(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 COMPANY

SUPPLEMENTAL REVENUE INFORMATION

REVENUES BY BUSINESS SEGMENTS AND UNITS

Three Months Ended June 30, (continued)

(Unaudited; Amounts in thousands)

International

 % Change 

2012

2011

 Reported 

FXN

FX Impact

BD MEDICAL

   Medical Surgical Systems

$

290,451

$

284,262

2.2

8.4

(6.2)

   Diabetes Care

122,662

119,719

2.5

8.7

(6.2)

   Pharmaceutical Systems

227,342

224,126

1.4

8.7

(7.3)

TOTAL

$

640,455

$

628,107

2.0

8.5

(6.5)

BD DIAGNOSTICS

   Preanalytical Systems

$

167,492

$

167,737

(0.1)

6.3

(6.4)

   Diagnostic Systems

159,518

150,820

5.8

10.9

(5.1)

TOTAL

$

327,010

$

318,557

2.7

8.5

(5.8)

BD BIOSCIENCES

   Cell 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

$

1,124,444

1.7

7.8

(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 COMPANY

SUPPLEMENTAL REVENUE INFORMATION

REVENUES BY BUSINESS SEGMENTS AND UNITS

Three Months Ended June 30, (continued)

(Unaudited; Amounts in thousands)

Total

 % Change 

2012

2011

 Reported 

FXN

FX Impact

BD MEDICAL 

   Medical Surgical Systems

$

531,771

$

529,018

0.5

3.8

(3.3)

   Diabetes Care

232,675

220,184

5.7

9.1

(3.4)

   Pharmaceutical Systems

305,630

295,634

3.4

8.9

(5.5)

TOTAL

$

1,070,076

$

1,044,836

2.4

6.4

(4.0)

BD DIAGNOSTICS

   Preanalytical Systems

$

333,454

$

330,326

0.9

4.2

(3.3)

   Diagnostic Systems

308,796

301,033

2.6

5.1

(2.5)

TOTAL

$

642,250

$

631,359

1.7

4.7

(3.0)

BD BIOSCIENCES

   Cell 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

$

1,951,889

1.5

4.9

(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 COMPANY

SUPPLEMENTAL REVENUE INFORMATION

REVENUES BY BUSINESS SEGMENTS AND UNITS

Nine Months Ended June 30,

(Unaudited; Amounts in thousands)

United States

2012

2011

 % Change 

BD MEDICAL

   Medical Surgical Systems

$

727,335

$

733,582

(0.9)

   Diabetes Care

321,264

295,989

8.5

   Pharmaceutical Systems

214,212

191,173

12.1

TOTAL

$

1,262,811

$

1,220,744

3.4

BD DIAGNOSTICS

   Preanalytical Systems

$

491,532

$

481,624

2.1

   Diagnostic Systems

453,928

450,645

0.7

TOTAL

$

945,460

$

932,269

1.4

BD BIOSCIENCES

   Cell Analysis (1) 

$

255,587

$

280,096

(8.8)

TOTAL

$

255,587

$

280,096

(8.8)

TOTAL UNITED STATES

$

2,463,858

$

2,433,109

1.3

(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 COMPANY

SUPPLEMENTAL REVENUE INFORMATION

REVENUES BY BUSINESS SEGMENTS AND UNITS

Nine Months Ended June 30, (continued)

(Unaudited; Amounts in thousands)

International

 % Change 

2012

2011

 Reported 

FXN

FX Impact

BD MEDICAL

   Medical Surgical Systems

$

845,685

$

812,752

4.1

7.0

(2.9)

   Diabetes Care

356,575

345,837

3.1

5.7

(2.6)

   Pharmaceutical Systems

576,589

573,380

0.6

4.1

(3.5)

TOTAL

$

1,778,849

$

1,731,969

2.7

5.8

(3.1)

BD DIAGNOSTICS

   Preanalytical Systems

$

481,857

$

467,570

3.1

6.5

(3.4)

   Diagnostic Systems

465,695

438,590

6.2

8.2

(2.0)

TOTAL

$

947,552

$

906,160

4.6

7.3

(2.7)

BD BIOSCIENCES

   Cell Analysis (1) 

$

550,952

$

524,618

5.0

6.6

(1.6)

TOTAL

$

550,952

$

524,618

5.0

6.6

(1.6)

TOTAL INTERNATIONAL

$

3,277,353

$

3,162,747

3.6

6.4

(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 COMPANY

SUPPLEMENTAL REVENUE INFORMATION

REVENUES BY BUSINESS SEGMENTS AND UNITS

Nine Months Ended June 30, (continued)

(Unaudited; Amounts in thousands)

Total

 % Change 

2012

2011

 Reported 

FXN

FX Impact

BD MEDICAL 

   Medical Surgical Systems

$

1,573,020

$

1,546,334

1.7

3.3

(1.6)

   Diabetes Care

677,839

641,826

5.6

7.0

(1.4)

   Pharmaceutical Systems

790,801

764,553

3.4

6.1

(2.7)

TOTAL

$

3,041,660

$

2,952,713

3.0

4.8

(1.8)

BD DIAGNOSTICS

   Preanalytical Systems

$

973,389

$

949,194

2.5

4.2

(1.7)

   Diagnostic Systems

919,623

889,235

3.4

4.4

(1.0)

TOTAL

$

1,893,012

$

1,838,429

3.0

4.3

(1.3)

BD BIOSCIENCES

   Cell Analysis (1) 

$

806,539

$

804,714

0.2

1.3

(1.1)

TOTAL

$

806,539

$

804,714

0.2

1.3

(1.1)

TOTAL REVENUES

$

5,741,211

$

5,595,856

2.6

4.1

(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 COMPANY

SUPPLEMENTAL REVENUE INFORMATION

SAFETY REVENUES

(Unaudited; Amounts in thousands)

Three Months Ended June 30,

 % Change 

2012

2011

 Reported 

FXN

FX Impact

TOTAL SAFETY REVENUES

   United States

$

284,830

$

280,696

1.5

1.5

-

   International

215,964

198,417

8.8

15.7

(6.9)

TOTAL

$

500,794

$

479,113

4.5

7.4

(2.9)

BY SEGMENT

   BD Medical

$

240,065

$

223,460

7.4

9.8

(2.4)

   BD Diagnostics

260,729

255,653

2.0

5.3

(3.3)

TOTAL

$

500,794

$

479,113

4.5

7.4

(2.9)

Nine Months Ended June 30,

 % Change 

2012

2011

 Reported 

FXN

FX Impact

TOTAL SAFETY REVENUES

   United States

$

858,175

$

828,002

3.6

3.6

-

   International

618,290

545,530

13.3

16.7

(3.4)

TOTAL

$

1,476,465

$

1,373,532

7.5

8.8

(1.3)

BY SEGMENT

   BD Medical

$

715,776

$

641,635

11.6

12.4

(0.8)

   BD Diagnostics

760,689

731,897

3.9

5.6

(1.7)

TOTAL

$

1,476,465

$

1,373,532

7.5

8.8

(1.3)

 

BECTON DICKINSON AND COMPANY

CONSOLIDATED INCOME STATEMENTS FISCAL 2012

Revised for discontinued operations of Discovery Labware divestiture

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

Quarter 1

Quarter 2

Quarter 2 YTD

REVENUES

$

1,831,720

$

1,928,961

$

3,760,681

Cost of products sold

900,465

941,184

1,841,649

Selling and administrative 

482,271

487,694

969,964

Research and development

112,227

116,753

228,981

TOTAL OPERATING COSTS