BD Announces Results For 2011 Third Fiscal Quarter

Aug 02, 2011, 06:00 ET from BD (Becton, Dickinson and Company)

FRANKLIN LAKES, N.J., Aug. 2, 2011 /PRNewswire/ -- BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, today reported quarterly revenues of $2.014 billion for the third fiscal quarter ended June 30, 2011, representing an increase of 10.0 percent from the prior-year period.  On a foreign currency-neutral basis, revenues increased 4.8 percent.

“We are pleased with our solid results this quarter, with all three segments contributing to growth,” said Edward J. Ludwig, Chairman and Chief Executive Officer.  “Gross margin expansion reflecting favorable product mix has offset some of the headwinds we have been facing as a result of a challenging macroeconomic environment and increased raw material costs.”

Agreement to Acquire Carmel Pharma, AB

On July 27, 2011, the Company announced that it had signed a definitive agreement to acquire Carmel Pharma, AB, a Swedish company that manufactures the PhaSeal® System. This is the leading closed-system drug transfer device for the safe handling of hazardous drugs that are packaged in vials.  The acquisition is expected to close prior to the end of this fiscal year.

Third Quarter and Nine-Month Fiscal 2011 Operating Results

Reported diluted earnings per share from continuing operations for the third quarter were $1.51, compared with $1.23 in the prior-year period, representing a 22.8 percent increase, or 13.8 percent on a currency-neutral basis.

For the nine-month period ending June 30, 2011, reported diluted earnings per share from continuing operations were $4.23, compared with $3.66 in the prior-year period. The prior-year period included a non-cash charge of $8.9 million, or $0.04 per share, related to healthcare reform impacting Medicare Part D reimbursements. Excluding that item, earnings per share from continuing operations increased by 14.3 percent, compared with adjusted diluted earnings per share from continuing operations of $3.70 in the prior-year period, or 8.1 percent on a currency-neutral basis.

Segment Results

In the BD Medical segment, worldwide revenues for the quarter were $1.045 billion, representing an increase of 10.5 percent compared with the prior-year period, or 4.9 percent on a foreign currency-neutral basis. Revenues reflected strong sales of Pharmaceutical Systems products and international safety, along with solid sales of Diabetes Care products.  For the nine-month period ended June 30, 2011, BD Medical revenues increased 4.0 percent, or 1.7 percent on a foreign currency-neutral basis.

In the BD Diagnostics segment, worldwide revenues for the quarter were $631 million, representing an increase of 9.6 percent compared with the prior-year period, or 4.8 percent on a foreign currency-neutral basis. Revenues reflected solid growth in Preanalytical Systems safety-engineered products and strong growth in both the Women’s Health and Cancer and the Infectious Disease product offerings in the Diagnostics Systems unit. For the nine-month period ended June 30, 2011, BD Diagnostics revenues increased 6.4 percent, or 3.9 percent on a foreign currency-neutral basis.

In the BD Biosciences segment, worldwide revenues for the quarter were $338 million, representing an increase of 9.3 percent compared with the prior-year period, or 4.3 percent on a foreign currency-neutral basis. Segment growth was driven primarily by instrument and reagent sales in the Cell Analysis unit. Discovery Labware revenues in the U.S. were negatively impacted by weakness in core consumables. The segment’s revenues also reflected softness in Western Europe due to government research funding delays.  For the nine-month period ended June 30, 2011, BD Biosciences revenues increased by 5.7 percent, or 2.7 percent on a foreign currency-neutral basis.

Geographic Results

Third quarter revenues in the U.S. were $855 million, representing an increase of 5.7 percent compared with the prior-year period.  Revenues outside of the U.S. were $1.159 billion, representing an increase of 13.4 percent compared with the prior-year period, or 4.1 percent on a foreign currency-neutral basis. Revenues reflected continued strength in emerging markets, which was partially offset by ongoing challenging macroeconomic conditions in Western Europe.  For the nine-month period ended June 30, 2011, revenues in the U.S. were $2.513 billion, representing an increase of 2.4 percent compared with the prior-year period. Revenues outside of the U.S. were $3.265 billion, representing an increase of 7.2 percent compared with the prior-year period, or 2.8 percent on a foreign currency-neutral basis.

Fiscal Year 2011 Outlook

Reported revenue growth guidance for the full fiscal year 2011 is expected to be at the higher end of the previously communicated range of 5 to 6 percent compared with fiscal year 2010, due to the anticipated effects of favorable currency. On a foreign currency-neutral basis, the Company is lowering its revenue growth guidance to an increase of about 3 percent versus its previously communicated guidance of about 3.5 percent, mainly due to lower than expected sales in Western Europe.

The Company is raising its previous guidance for reported diluted earnings per share from continuing operations for fiscal year 2011 from $5.55-$5.65 to $5.65-$5.70, an increase of approximately 15 to 16 percent over fiscal year 2010, due to the anticipated effects of favorable currency. Diluted earnings per share from continuing operations for fiscal year 2011 are expected to increase 14 to 15 percent over adjusted diluted earnings per share from continuing operations of $4.94, excluding the specified item, for fiscal year 2010.  The specified item represents the aforementioned 2010 non-cash charge of $0.04 per share related to healthcare reform. On a currency-neutral basis, the Company continues to expect diluted earnings per share from continuing operations to increase about 10 percent over adjusted diluted earnings per share in the prior-year period, despite lower than expected revenue growth and higher resin costs.

Conference Call Information

A conference call regarding BD’s third quarter results and its expectations will be broadcast live on BD’s website, www.bd.com/investors, along with related slides, at 8:00 a.m. (ET) Tuesday, August 2, 2011. The slides are available concurrent with the issuance of this press release at www.bd.com/investors. The conference call will be available for replay on BD’s website, www.bd.com/investors, or at 855-859-2056 (domestic) and 404-537-3406 (international) through the close of business on Tuesday, August 9, 2011, access code 82566570.

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 Year 2011 Outlook”, 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.  Forward-looking statements may be identified by the use of words such as “expect”, “estimate” or words of similar meaning in conjunction with statements of future performance.  All such statements are based upon current expectations of BD and involve a number of business risks and uncertainties.  Actual results could vary materially from anticipated results described, implied or projected in any forward-looking statement.  With respect to forward-looking statements contained herein, a number of factors could cause actual results to vary materially from any forward-looking statement.  These factors include, but are not limited to:  the potential adverse effects that the earthquake and tsunami in Japan and the situation regarding the Fukushima, Japan nuclear power plant may have on BD’s future operations in Japan; the unknown consequences of the recently-enacted 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 BD’s 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 situation on BD’s ability to access credit markets and finance its operations, the demand for BD’s products and services, or its suppliers’ ability to provide products needed for BD’s operations; changes in interest or foreign currency exchange rates; competitive factors; pricing and market share pressures; difficulties inherent in product development and delays in product introductions; increases in energy costs and their effect on, among other things, the cost of producing 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 BD’s 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; BD’s ability to successfully integrate any businesses it acquires; and issuance of new or revised accounting standards, as well as other factors discussed in BD’s filings with the Securities and Exchange Commission.  BD does 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 June 30,

2011

2010

% Change

REVENUES

$

2,014,081

$

1,830,911

10.0

Cost of products sold

951,980

883,434

7.8

Selling and administrative

474,646

416,468

14.0

Research and development

115,748

108,047

7.1

TOTAL OPERATING COSTS

    AND EXPENSES

1,542,374

1,407,949

9.5

OPERATING INCOME

471,707

422,962

11.5

Interest income

11,508

2,094

NM

Interest expense

(22,211)

(13,085)

69.7

Other (expense) income, net

(363)

1,402

NM

INCOME FROM CONTINUING OPERATIONS BEFORE

    INCOME TAXES

460,641

413,373

11.4

Income tax provision

122,531

119,213

2.8

INCOME FROM CONTINUING OPERATIONS

338,110

294,160

14.9

INCOME FROM DISCONTINUED OPERATIONS

  NET OF INCOME TAX PROVISION OF

$111 AND $4,340, RESPECTIVELY

4,948

12,748

(61.2)

NET INCOME

$

343,058

$

306,908

11.8

EARNINGS PER SHARE

Basic:

Income from continuing operations

$

1.54

$

1.26

22.2

Income from discontinued operations

$

0.02

$

0.05

(60.0)

Net income (1)

$

1.57

$

1.32

18.9

Diluted:

Income from continuing operations

$

1.51

$

1.23

22.8

Income from discontinued operations

$

0.02

$

0.05

(60.0)

Net income (1)

$

1.53

$

1.29

18.6

AVERAGE SHARES OUTSTANDING

    Basic

218,966

233,242

    Diluted

223,567

238,319

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)

Nine Months Ended June 30,

2011

2010

% Change

REVENUES

$

5,778,109

$

5,499,138

5.1

Cost of products sold

2,738,000

2,642,250

3.6

Selling and administrative

1,364,543

1,283,217

6.3

Research and development

350,441

307,391

14.0

TOTAL OPERATING COSTS

    AND EXPENSES

4,452,984

4,232,858

5.2

OPERATING INCOME

1,325,125

1,266,280

4.6

Interest income

41,294

20,535

NM

Interest expense

(61,685)

(38,985)

58.2

Other expense, net

(7,481)

(788)

NM

INCOME FROM CONTINUING OPERATIONS BEFORE

    INCOME TAXES

1,297,253

1,247,042

4.0

Income tax provision

333,804

363,755

(8.2)

INCOME FROM CONTINUING OPERATIONS

963,449

883,287

9.1

INCOME FROM DISCONTINUED OPERATIONS

  NET OF INCOME TAX PROVISION OF

$711 AND $13,058, RESPECTIVELY

7,566

37,628

(79.9)

NET INCOME

$

971,015

$

920,915

5.4

EARNINGS PER SHARE

Basic:

Income from continuing operations

$

4.33

$

3.75

15.5

Income from discontinued operations

$

0.03

$

0.16

(81.3)

Net income

$

4.36

$

3.91

11.5

Diluted:

Income from continuing operations

$

4.23

$

3.66

15.6

Income from discontinued operations

$

0.03

$

0.16

(81.3)

Net income

$

4.26

$

3.82

11.5

AVERAGE SHARES OUTSTANDING

    Basic

222,674

235,316

    Diluted

227,782

241,151

NM - Not Meaningful

BECTON DICKINSON AND COMPANY

SUPPLEMENTAL REVENUE INFORMATION

REVENUES BY SEGMENT AND GEOGRAPHIC AREA

(Unaudited; Amounts in thousands)

Three Months Ended June 30,

2011

2010

% Change

BD MEDICAL

  United States

$

416,729

$

381,761

9.2

  International

628,107

563,761

11.4

TOTAL

$

1,044,836

$

945,522

10.5

BD DIAGNOSTICS

  United States

$

312,802

$

303,521

3.1

  International

318,557

272,748

16.8

TOTAL

$

631,359

$

576,269

9.6

BD BIOSCIENCES

  United States

$

125,933

$

124,146

1.4

  International

211,953

184,974

14.6

TOTAL

$

337,886

$

309,120

9.3

TOTAL REVENUES

  United States

$

855,464

$

809,428

5.7

  International

1,158,617

1,021,483

13.4

TOTAL

$

2,014,081

$

1,830,911

10.0

BECTON DICKINSON AND COMPANY

SUPPLEMENTAL REVENUE INFORMATION

REVENUES BY SEGMENT AND GEOGRAPHIC AREA

(Unaudited; Amounts in thousands)

Nine Months Ended June 30,

2011

2010

% Change

BD MEDICAL

  United States

$

1,220,744

$

1,196,105

2.1

  International

1,731,969

1,641,722

5.5

TOTAL

$

2,952,713

$

2,837,827

4.0

BD DIAGNOSTICS

  United States

$

932,269

$

906,566

2.8

  International

906,160

820,849

10.4

TOTAL

$

1,838,429

$

1,727,415

6.4

BD BIOSCIENCES

  United States

$

360,234

$

351,933

2.4

  International

626,733

581,963

7.7

TOTAL

$

986,967

$

933,896

5.7

TOTAL REVENUES

  United States

$

2,513,247

$

2,454,604

2.4

  International

3,264,862

3,044,534

7.2

TOTAL

$

5,778,109

$

5,499,138

5.1

BECTON DICKINSON AND COMPANY

SUPPLEMENTAL REVENUE INFORMATION

REVENUES BY BUSINESS SEGMENTS AND UNITS

Three Months Ended June 30,

(Unaudited; Amounts in thousands)

United States

2011

2010

% Change

BD MEDICAL

  Medical Surgical Systems

$

244,756

$

239,866

2.0

  Diabetes Care

100,465

96,071

4.6

  Pharmaceutical Systems

71,508

45,824

56.0

TOTAL

$

416,729

$

381,761

9.2

BD DIAGNOSTICS

  Preanalytical Systems

$

162,589

$

159,228

2.1

  Diagnostic Systems

150,213

144,293

4.1

TOTAL

$

312,802

$

303,521

3.1

BD BIOSCIENCES

  Cell Analysis

$

89,162

$

84,365

5.7

  Discovery Labware

36,771

39,781

(7.6)

TOTAL

$

125,933

$

124,146

1.4

TOTAL UNITED STATES

$

855,464

$

809,428

5.7

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

2011

2010

Reported

FXN

FX Impact

BD MEDICAL

  Medical Surgical Systems

$

284,262

$

253,687

12.1

3.0

9.1

  Diabetes Care

119,719

101,081

18.4

7.8

10.6

  Pharmaceutical Systems

224,126

208,993

7.2

(1.8)

9.0

TOTAL

$

628,107

$

563,761

11.4

2.1

9.3

BD DIAGNOSTICS

  Preanalytical Systems

$

167,737

$

144,298

16.2

6.0

10.2

  Diagnostic Systems

150,820

128,450

17.4

7.5

9.9

TOTAL

$

318,557

$

272,748

16.8

6.7

10.1

BD BIOSCIENCES

  Cell Analysis

$

165,866

$

146,068

13.6

5.5

8.1

  Discovery Labware

46,087

38,906

18.5

8.9

9.6

TOTAL

$

211,953

$

184,974

14.6

6.2

8.4

TOTAL INTERNATIONAL

$

1,158,617

$

1,021,483

13.4

4.1

9.3

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

2011

2010

Reported

FXN

FX Impact

BD MEDICAL

  Medical Surgical Systems

$

529,018

$

493,553

7.2

2.5

4.7

  Diabetes Care

220,184

197,152

11.7

6.2

5.5

  Pharmaceutical Systems

295,634

254,817

16.0

8.6

7.4

TOTAL

$

1,044,836

$

945,522

10.5

4.9

5.6

BD DIAGNOSTICS

  Preanalytical Systems

$

330,326

$

303,526

8.8

4.0

4.8

  Diagnostic Systems

301,033

272,743

10.4

5.7

4.7

TOTAL

$

631,359

$

576,269

9.6

4.8

4.8

BD BIOSCIENCES

  Cell Analysis

$

255,028

$

230,433

10.7

5.6

5.1

  Discovery Labware

82,858

78,687

5.3

0.6

4.7

TOTAL

$

337,886

$

309,120

9.3

4.3

5.0

TOTAL REVENUES

$

2,014,081

$

1,830,911

10.0

4.8

5.2

BECTON DICKINSON AND COMPANY

SUPPLEMENTAL REVENUE INFORMATION

REVENUES BY BUSINESS SEGMENTS AND UNITS

Nine Months Ended June 30,

(Unaudited; Amounts in thousands)

United States

2011

2010

% Change

BD MEDICAL

  Medical Surgical Systems

$

733,582

$

751,032

(2.3)

  Diabetes Care

295,989

285,150

3.8

  Pharmaceutical Systems

191,173

159,923

19.5

TOTAL

$

1,220,744

$

1,196,105

2.1

BD DIAGNOSTICS

  Preanalytical Systems

$

481,624

$

465,395

3.5

  Diagnostic Systems

450,645

441,171

2.1

TOTAL

$

932,269

$

906,566

2.8

BD BIOSCIENCES

  Cell Analysis

$

252,423

$

240,152

5.1

  Discovery Labware

107,811

111,781

(3.6)

TOTAL

$

360,234

$

351,933

2.4

TOTAL UNITED STATES

$

2,513,247

$

2,454,604

2.4

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

2011

2010

Reported

FXN

FX Impact

BD MEDICAL

  Medical Surgical Systems

$

812,752

$

756,963

7.4

2.1

5.3

  Diabetes Care

345,837

301,508

14.7

9.6

5.1

  Pharmaceutical Systems

573,380

583,251

(1.7)

(3.5)

1.8

TOTAL

$

1,731,969

$

1,641,722

5.5

1.5

4.0

BD DIAGNOSTICS

  Preanalytical Systems

$

467,570

$

425,967

9.8

4.6

5.2

  Diagnostic Systems

438,590

394,882

11.1

5.7

5.4

TOTAL

$

906,160

$

820,849

10.4

5.2

5.2

BD BIOSCIENCES

  Cell Analysis

$

498,864

$

464,091

7.5

3.1

4.4

  Discovery Labware

127,869

117,872

8.5

2.3

6.2

TOTAL

$

626,733

$

581,963

7.7

2.9

4.8

TOTAL INTERNATIONAL

$

3,264,862

$

3,044,534

7.2

2.8

4.4

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

2011

2010

Reported

FXN

FX Impact

BD MEDICAL

  Medical Surgical Systems

$

1,546,334

$

1,507,995

2.5

(0.1)

2.6

  Diabetes Care

641,826

586,658

9.4

6.8

2.6

  Pharmaceutical Systems

764,553

743,174

2.9

1.5

1.4

TOTAL

$

2,952,713

$

2,837,827

4.0

1.7

2.3

BD DIAGNOSTICS

  Preanalytical Systems

$

949,194

$

891,362

6.5

4.0

2.5

  Diagnostic Systems

889,235

836,053

6.4

3.8

2.6

TOTAL

$

1,838,429

$

1,727,415

6.4

3.9

2.5

BD BIOSCIENCES

  Cell Analysis

$

751,287

$

704,243

6.7

3.8

2.9

  Discovery Labware

235,680

229,653

2.6

(0.5)

3.1

TOTAL

$

986,967

$

933,896

5.7

2.7

3.0

TOTAL REVENUES

$

5,778,109

$

5,499,138

5.1

2.6

2.5

BECTON DICKINSON AND COMPANY

SUPPLEMENTAL REVENUE INFORMATION

SAFETY REVENUES

(Unaudited; Amounts in thousands)

Three Months Ended June 30,

% Change

2011

2010

Reported

FXN

FX Impact

TOTAL SAFETY REVENUES

  United States

$

280,696

$

270,604

3.7

3.7

-

  International

198,417

157,851

25.7

14.1

11.6

TOTAL

$

479,113

$

428,455

11.8

7.6

4.2

BY SEGMENT

  BD Medical

$

223,460

$

195,400

14.4

10.4

4.0

  BD Diagnostics

255,653

233,055

9.7

5.2

4.5

TOTAL

$

479,113

$

428,455

11.8

7.6

4.2

Nine Months Ended June 30,

% Change

2011

2010

Reported

FXN

FX Impact

TOTAL SAFETY REVENUES

  United States

$

828,002

$

825,463

0.3

0.3

-

  International

545,530

461,517

18.2

11.9

6.3

TOTAL

$

1,373,532

$

1,286,980

6.7

4.5

2.2

BY SEGMENT

  BD Medical

$

641,635

$

610,262

5.1

3.0

2.1

  BD Diagnostics

731,897

676,718

8.2

5.8

2.4

TOTAL

$

1,373,532

$

1,286,980

6.7

4.5

2.2

BECTON DICKINSON AND COMPANY

SUPPLEMENTAL INFORMATION

FY2011 Year-to-Date Reconciliation

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

Nine Months Ended June 30,

Reported

Reported

Adjusted

Adjusted

FY 2011

FY 2010

Tax (1)

FY 2010

% Growth

Diluted Earnings per Share

from Continuing Operations

$

4.23

$

3.66

$

0.04

$

3.70

14.3%

(1) Represents a non-cash charge related to healthcare reform

   impacting Medicare Part D reimbursements.  

BECTON DICKINSON AND COMPANY

SUPPLEMENTAL INFORMATION

Quarter-to-Date Fiscal 2011 Reconciliation - FX Impact

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

Three Months Ended June 30,

Reported

Reported

Reported Growth

Foreign Currency

FY10 Hedge

Total

FXN

FXN

FY 2011

FY 2010

$

Translation

Loss

FX

Change

Growth

REVENUES

$

2,014

$

1,831

$

183

$

94

$

1

$

96

$

88

4.8%

Diluted Earnings per Share

from Continuing Operations

$

1.51

$

1.23

$

0.28

$

0.11

$

0.00

$

0.11

$

0.17

13.8%

FXN = Foreign Currency Neutral

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

BECTON DICKINSON AND COMPANY

SUPPLEMENTAL INFORMATION

Year-to-Date Fiscal 2011 Reconciliation - FX Impact

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

Nine Months Ended June 30,

Reported

Adjusted

Adjusted Growth

Foreign Currency

FY10 Hedge

Total

Adjusted FXN

FXN

FY 2011

FY 2010

$

Translation

Loss

FX

Change

Growth

REVENUES

$

5,778

$

5,499

$

279

$

94

$

43

$

136

$

143

2.6%

Diluted Earnings per Share

from Continuing Operations

$

4.23

$

3.70

$

0.53

$

0.12

$

0.11

$

0.23

$

0.30

8.1%

FXN = Foreign Currency Neutral

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

BECTON DICKINSON AND COMPANY

SUPPLEMENTAL INFORMATION

FY2010 Total Year Reconciliation

Reported Diluted Earnings per Share

from Continuing Operations

$

4.90

Tax (1)

0.04

Adjusted Diluted Earnings per Share

from Continuing Operations

$

4.94

(1) Represents a non-cash charge related to healthcare reform

   impacting Medicare Part D reimbursements.  

Contact: Monique N. Dolecki, Investor Relations – 201-847-5453 Colleen T. White, Corporate Communications – 201-847-5369

SOURCE BD (Becton, Dickinson and Company)



RELATED LINKS

http://www.bd.com