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Franklin Lakes, NJ
(July 24, 2002) --
BD (Becton,
Dickinson and Company) (NYSE: BDX) today reported quarterly revenues
of $998 million for the fiscal third quarter ended June 30, 2002, an
increase of 6 percent from the same period a year ago.
"We are pleased with our performance, paced by solid increases in
sales of our safety-engineered products, prefillable drug delivery
devices, and BD Biosciences immunology/cell biology reagents and
Discovery Labware products," said Edward J. Ludwig, Chairman,
President and Chief Executive Officer. "We remain on track to achieve
our full-year performance objectives."
Diluted earnings per share were 44 cents for the third quarter.
Included in third quarter earnings per share was a special charge of 4
cents recorded primarily in connection with the previously announced
manufacturing restructuring in the BD Medical Systems segment. In
addition, operating earnings included one cent of other manufacturing
costs related to the restructuring that are reflected in cost of
products sold. Excluding the special charge of 4 cents, diluted
earnings per share would be 48 cents.
Q3 Segment Results
In the BD Medical Systems segment, worldwide revenues of $544
million increased 7 percent. Included in BD Medical Systems revenues
were U.S. safety-engineered product sales of $88 million, versus $66
million in the prior year''s quarter. Also contributing to the growth
of the segment were sales of prefillable drug delivery devices, which
grew 20 percent. The overall growth rate in the segment was offset in
part by reduced sales of conventional devices in the U.S. due to the
transition to safety-engineered devices and by lower Consumer Health
Care sales.
Within Consumer Health Care, recording of sales of diabetes
syringes in the U.S. is deferred until these products are sold by the
Company''s distribution channel partners to their end customers. In
determining the amount of sales to be recorded each quarter, the
Company relies upon independent sales and inventory data from its
distribution channel partners. In the third quarter, one distribution
channel partner reported that it held a higher level of inventory than
it had previously reported to the Company. Accordingly, reported sales
of diabetes syringes were negatively impacted by approximately $8
million. Sales by distribution channel partners to their end customers
increased in line with the Company''s expectations in the third
quarter.
In the BD Clinical Laboratory Solutions segment, worldwide
revenues increased 5 percent to $298 million. Revenue growth of 11
percent in the Preanalytical Solutions portion of the segment was
attributable primarily to U.S. safety-engineered device sales, which
were $57 million, versus $43 million in the prior year''s quarter.
These results were partly offset by reduced sales of conventional
devices due, in large part, to the transition to safety-engineered
devices. In addition, worldwide sales of the Diagnostic Systems
portion of the segment declined by 2 percent. As discussed in the
second quarter press release, U.S. distributors had stocked inventory
in advance of the installation by Diagnostic Systems of a new
enterprise resource planning system. This inventory stocking adversely
impacted revenue growth in the third quarter.
In the BD Biosciences segment, worldwide revenues grew 3 percent
to $156 million. Revenue growth was driven by strong sales of
immunology/cell biology reagents (Pharmingen) and Discovery Labware
products, which together represent slightly less than half of BD
Biosciences'' worldwide revenues. Molecular biology reagent (Clontech)
revenues decreased versus the prior year''s quarter due to continued
weakness in some portions of the molecular biology market, largely due
to an industry shift from early stage drug target identification to
later stage drug development. In response to these developments, BD
Biosciences has adjusted its related workforce and redirected its
research and development efforts toward later stage drug development
products. Softness in pharmaceutical research and development and
related capital spending, coupled with the timing of certain
instrument installations that are anticipated to occur in the fourth
quarter, resulted in essentially flat revenues from flow cytometry
instruments and reagents (Immunocytometry Systems) in the quarter.
Q3 Geographic Results
On a geographic basis, third quarter revenues in the U.S.
increased 4 percent to $532 million. Revenues outside the U.S. of $466
million grew 7 percent. At constant foreign exchange rates, revenues
outside the U.S. grew 9 percent.
Nine-month Results
For the nine-month period ended June 30, 2002, reported revenues
were $2.956 billion, a 7 percent increase over a year ago, or 8
percent at constant foreign exchange rates. Diluted earnings per share
for the nine-month period were $1.29, or $1.35 excluding the special
charges primarily relating to the manufacturing restructuring, and
reflect an approximate 7 1/2 cent benefit from the adoption of
Statement of Financial Accounting Standards (SFAS) No. 142, "Goodwill
and Other Intangible Assets." For the same period in fiscal 2001,
diluted earnings per share were $1.14, before the cumulative effect of
an accounting change.
Restructuring and Divestitures
In connection with the manufacturing restructuring, the Company
recorded a special charge of approximately $12 million, or 4 cents per
share, in the third quarter. Included in this amount was the reversal
of approximately $4 million of special charges recorded in fiscal
2000, primarily resulting from lower than anticipated employee
severance. As expected, ongoing operating results in the third quarter
reflect the impact of other manufacturing restructuring costs included
in cost of products sold, which reduced earnings per share by
approximately one cent. The Company recorded a special charge of
approximately $10 million, or two cents per share, in the second
quarter of fiscal 2002 associated with this restructuring program.
On April 8, 2002 the Company entered into a non-binding letter of
intent with Aortech International plc ("Aortech") to sell its critical
care product line. As previously indicated, several important actions
must occur, including the execution of a definitive purchase agreement
and the approval of Aortech''s Board of Directors and shareholders,
before the sale can be completed. Assuming these actions are
completed, the Company would record a substantially non-cash loss on
sale (pre-tax), currently estimated to be in the $35 to $40 million
range.
Fiscal 2002 Outlook
The Company continues to expect diluted earnings per share to be
approximately $1.88 for fiscal 2002 and approximately 53 cents for the
fourth quarter, excluding the special charges and loss on the
potential sale of the Critical Care product line. The following table
analyzes the estimated reported earnings per share for fiscal 2002:
Reported Reported Reported Estimated Estimated
Q1 Q2 Q3 Q4 FY02
----------------------------------------------------------------------
Diluted EPS before $ 0.37 $ 0.50 $ 0.49 $ 0.54 $ 1.90
manufacturing
restructuring
and loss on potential
sale of Critical Care
product line (A)
----------------------------------------------------------------------
Manufacturing
restructuring -- -- ($ 0.01)($ 0.01) ($ 0.02)
costs (B)
----------------------------------------------------------------------
Diluted EPS before $ 0.37 $ 0.50 $ 0.48 $ 0.53 $ 1.88
special charges and
loss on potential
sale of Critical
Care product line
----------------------------------------------------------------------
Special charges -- ($ 0.02)( $ 0.04) - ($ 0.06)
--
--------------------------------------------------------------------
Diluted EPS before $ 0.37 $ 0.48 $ 0.44 $ 0.53 $ 1.82
loss on potential
sale of (C)
Critical Care
product line
----------------------------------------------------------------------
(A) These amounts include the previously announced favorable impact
from the elimination of goodwill amortization under SFAS No. 142
of approximately $0.10 per share for the full year, or $0.025 per
quarter.
(B) Recorded to cost of products sold.
(C) Does not include estimated loss on potential sale of Critical Care
product line.
BD is a medical technology company that serves healthcare
institutions, life science researchers, clinical laboratories,
industry and the general public. BD manufactures and sells a broad
range of medical supplies, devices, laboratory equipment and
diagnostic products. For the fiscal year ended September 30, 2001, BD
reported total revenues of $3.8 billion.
This press release may contain certain forward-looking statements
(as defined under Federal securities laws) regarding the Company''s
performance, including future revenues, products and income, or events
or developments that the Company expects to occur or anticipates
occurring in the future. All such statements are based upon current
expectations of the Company 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. Factors that could cause actual results to vary materially
from any forward-looking statement include, but are not limited to:
competitive factors; pricing and market share pressures; uncertainties
of litigation; the Company''s ability to achieve sales and earnings
forecasts, which are based on sales volume and product mix
assumptions, to achieve its cost savings objectives, and to achieve
anticipated synergies and other cost savings in connection with
acquisitions; changes in regional, national or foreign economic
conditions; increases in energy costs; fluctuations in costs and
availability of raw materials and in the Company''s ability to maintain
favorable supplier arrangements and relationships; changes in interest
or foreign currency exchange rates; delays in product introductions;
and changes in health care or other governmental regulation, as well
as other factors discussed in this press release and in the Company''s
filings with the Securities and Exchange Commission. We do not intend
to update any forward-looking statements.
BD''s news releases can be found on its website at www.bd.com or through
Business Wire at www.businesswire.com. A conference call with analysts
regarding this news release will be broadcast live on BD''s website at
8:30 a.m. EDT Thursday, July 25, 2002. The conference call will be
available for playback on BD''s website or at 1-800-945-3063 through the
close of business on August 1, 2002.
BECTON DICKINSON AND COMPANY
CONSOLIDATED INCOME STATEMENTS
(Unaudited; Amounts in thousands, except per-share data)
Three Months Ended June 30,
--------------------------------
2002 2001 % Change
--------- --------- --------
REVENUES $ 998,460 $ 943,290 5.8
Cost of products sold 514,071 474,891 8.3
Selling and administrative 253,857 248,709 2.1
Research and development 53,037 53,105 (0.1)
Special charges 11,571 - NM
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TOTAL OPERATING COSTS AND EXPENSES 832,536 776,705 7.2
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OPERATING INCOME 165,924 166,585 (0.4)
Interest expense, net (8,678) (13,155) (34.0)
Other income (expense), net 1,313 (367) NM
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INCOME BEFORE INCOME TAXES 158,559 153,063 3.6
Income tax provision 38,834 34,934 11.2
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NET INCOME $ 119,725 $ 118,129 1.4
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EARNINGS PER SHARE
Basic $ 0.46 $ 0.46 -
Diluted $ 0.44 $ 0.44 -
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AVERAGE SHARES OUTSTANDING
Basic 258,067 258,086
Diluted 269,011 269,653
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NM - Not Meaningful
See page 3 for Notes to Consolidated Income Statements.
BECTON DICKINSON AND COMPANY
CONSOLIDATED INCOME STATEMENTS
(Unaudited; Amounts in thousands, except per-share data)
Nine Months Ended June 30,
---------------------------------
2002 2001 % Change
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REVENUES $2,956,377 $2,758,657 7.2
Cost of products sold 1,536,966 1,415,547 8.6
Selling and administrative 749,811 725,913 3.3
Research and development 164,588 160,329 2.7
Special charges 21,508 - NM
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TOTAL OPERATING COSTS AND EXPENSES 2,472,873 2,301,789 7.4
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OPERATING INCOME 483,504 456,868 5.8
Interest expense, net (27,088) (47,717) (43.2)
Other income (expense), net 189 (5,626) NM
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INCOME BEFORE INCOME TAXES 456,605 403,525 13.2
Income tax provision 108,019 97,533 10.8
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INCOME BEFORE CUMULATIVE
EFFECT OF CHANGE IN
ACCOUNTING PRINCIPLE, NET OF TAX 348,586 305,992 13.9
Cumulative effect, net of tax - (36,750) NM
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NET INCOME $ 348,586 $ 269,242 NM
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BASIC EARNINGS PER SHARE
Before Cumulative Effect $ 1.34 $ 1.18 13.6
Cumulative Effect - (0.14) NM
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Basic Earnings Per Share $ 1.34 $ 1.04 NM
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DILUTED EARNINGS PER SHARE
Before Cumulative Effect $ 1.29 $ 1.14 13.2
Cumulative Effect - (0.14) NM
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Diluted Earnings Per Share $ 1.29 $ 1.00 NM
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AVERAGE SHARES OUTSTANDING
Basic 258,568 256,513
Diluted 269,734 268,357
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NM - Not Meaningful
See page 3 for Notes to Consolidated Income Statements.
BECTON DICKINSON AND COMPANY
NOTES TO CONSOLIDATED INCOME STATEMENTS
Nine Months Ended June 30, 2002
Fiscal 2002 revenues included hedging costs of approximately $3.1
million for the third quarter and $7.0 million for the nine months,
compared with $0.4 million and $8.6 million, respectively, in fiscal
2001. These costs related to BD''s purchased option contracts to hedge
a portion of its anticipated sales from the United States to non-U.S.
customers. Hedging costs of approximately $8.1 million for the first
six months of fiscal 2001 were recorded in Other Expense under
previous accounting guidance. This amount has been reclassed to
revenues. Also included in revenues were gains on purchased option and
forward contracts recorded in revenues in fiscal 2002 of approximately
$1.3 million for the third quarter and $4.4 million for the nine
months, compared with $4.0 million and $8.1 million, respectively, in
fiscal 2001.
BD adopted the provisions of Securities and Exchange Commission
Staff Accounting Bulletin No. 101 "Revenue Recognition in Financial
Statements," (SAB 101) in the fourth quarter of fiscal 2001,
retroactive to October 1, 2000. Prior year amounts have been restated
to reflect this adoption. A complete discussion of this accounting
change can be found in BD''s 2001 annual report on Form 10-K.
Effective October 1, 2001, BD adopted the provisions of SFAS No.
142, "Goodwill and Other Intangible Assets," which, among other
things, eliminates the requirement to amortize goodwill and certain
other intangible assets. The Company currently estimates the full year
impact to earnings per share to be approximately 10 cents or 2.5 cents
per quarter.
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY SEGMENT AND GEOGRAPHIC AREA
(Unaudited; Amounts in thousands)
Three Months Ended June 30,
---------------------------------
2002 2001 % Change
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BD MEDICAL SYSTEMS
United States $ 272,020 $ 255,434 6.5
International 272,156 251,984 8.0
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TOTAL $ 544,176 $ 507,418 7.2
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BD CLINICAL LABORATORY SOLUTIONS
United States $ 174,976 $ 168,757 3.7
International 123,054 115,659 6.4
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TOTAL $ 298,030 $ 284,416 4.8
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BD BIOSCIENCES
United States $ 85,083 $ 84,980 0.1
International 71,171 66,476 7.1
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TOTAL $ 156,254 $ 151,456 3.2
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TOTAL REVENUES
United States $ 532,079 $ 509,171 4.5
International 466,381 434,119 7.4
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TOTAL $ 998,460 $ 943,290 5.8
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Nine Months Ended June 30,
---------------------------------
2002 2001 % Change
---------- ---------- --------
BD MEDICAL SYSTEMS
United States $ 791,995 $ 725,949 9.1
International 785,595 741,382 6.0
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TOTAL $1,577,590 $1,467,331 7.5
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BD CLINICAL LABORATORY SOLUTIONS
United States $ 540,866 $ 504,161 7.3
International 369,570 352,331 4.9
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TOTAL $ 910,436 $ 856,492 6.3
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BD BIOSCIENCES
United States $ 250,279 $ 241,164 3.8
International 218,072 193,670 12.6
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TOTAL $ 468,351 $ 434,834 7.7
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TOTAL REVENUES
United States $1,583,140 $1,471,274 7.6
International 1,373,237 1,287,383 6.7
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TOTAL $2,956,377 $2,758,657 7.2
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BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND MAJOR PRODUCT GROUPS
Three Months Ended June 30,
(Unaudited; Amounts in thousands)
United States
---------------------------------
2002 2001 % Change
---------- ---------- --------
BD MEDICAL SYSTEMS
Medical Surgical $ 178,631 $ 159,871 11.7
Consumer Health Care 66,676 72,832 (8.5)
Pharmaceutical Systems 19,909 15,772 26.2
Ophthalmic Systems 6,804 6,959 (2.2)
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TOTAL $ 272,020 $ 255,434 6.5
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BD CLINICAL LABORATORY SOLUTIONS
Preanalytical Solutions $ 97,306 $ 86,896 12.0
Diagnostic Systems 77,670 81,861 (5.1)
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TOTAL $ 174,976 $ 168,757 3.7
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BD BIOSCIENCES
Discovery Labware $ 26,643 $ 25,304 5.3
Immunocytometry & Reagents:
Flow Cytometry Instruments
& Reagents 27,668 29,379 (5.8)
Molecular Biology Reagents 13,617 15,415 (11.7)
Immunology/Cell Biology Reagents 17,155 14,882 15.3
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Total Immunocytometry & Reagents 58,440 59,676 (2.1)
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TOTAL $ 85,083 $ 84,980 0.1
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TOTAL UNITED STATES $ 532,079 $ 509,171 4.5
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International
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2002 2001 % Change
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BD MEDICAL SYSTEMS
Medical Surgical $ 148,457 $ 141,077 5.2
Consumer Health Care 45,361 45,106 0.6
Pharmaceutical Systems 71,210 59,863 19.0
Ophthalmic Systems 7,128 5,938 20.0
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TOTAL $ 272,156 $ 251,984 8.0
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BD CLINICAL LABORATORY SOLUTIONS
Preanalytical Solutions $ 65,551 $ 59,514 10.1
Diagnostic Systems 57,503 56,145 2.4
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TOTAL $ 123,054 $ 115,659 6.4
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BD BIOSCIENCES
Discovery Labware $ 16,993 $ 15,189 11.9
Immunocytometry & Reagents:
Flow Cytometry Instruments
& Reagents 38,659 37,417 3.3
Molecular Biology Reagents 4,591 4,449 3.2
Immunology/Cell Biology Reagents 10,928 9,421 16.0
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Total Immunocytometry & Reagents 54,178 51,287 5.6
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TOTAL $ 71,171 $ 66,476 7.1
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TOTAL INTERNATIONAL $ 466,381 $ 434,119 7.4
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BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND MAJOR PRODUCT GROUPS
Three Months Ended June 30, (continued)
(Unaudited; Amounts in thousands)
Total
---------------------------------
2002 2001 % Change
---------- ---------- --------
BD MEDICAL SYSTEMS
Medical Surgical $ 327,088 $ 300,948 8.7
Consumer Health Care 112,037 117,938 (5.0)
Pharmaceutical Systems 91,119 75,635 20.5
Ophthalmic Systems 13,932 12,897 8.0
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TOTAL $ 544,176 $ 507,418 7.2
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BD CLINICAL LABORATORY SOLUTIONS
Preanalytical Solutions $ 162,857 $ 146,410 11.2
Diagnostic Systems 135,173 138,006 (2.1)
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TOTAL $ 298,030 $ 284,416 4.8
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BD BIOSCIENCES
Discovery Labware $ 43,636 $ 40,493 7.8
Immunocytometry & Reagents:
Flow Cytometry Instruments
& Reagents 66,327 66,796 (0.7)
Molecular Biology Reagents 18,208 19,864 (8.3)
Immunology/Cell Biology Reagents 28,083 24,303 15.6
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Total Immunocytometry & Reagents 112,618 110,963 1.5
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TOTAL $ 156,254 $ 151,456 3.2
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TOTAL REVENUES $ 998,460 $ 943,290 5.8
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FX Neutral % Growth
-----------------------
International Total
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BD MEDICAL SYSTEMS
Medical Surgical 5.9 9.0
Consumer Health Care 1.7 (4.6)
Pharmaceutical Systems 18.4 20.0
Ophthalmic Systems 22.2 9.0
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TOTAL 8.5 7.5
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BD CLINICAL LABORATORY SOLUTIONS
Preanalytical Solutions 10.7 11.5
Diagnostic Systems 5.3 (0.9)
---- ----
TOTAL 8.1 5.5
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BD BIOSCIENCES
Discovery Labware 15.4 9.1
Immunocytometry & Reagents:
Flow Cytometry Instruments
& Reagents 6.1 0.8
Molecular Biology Reagents 1.7 (8.7)
Immunology/Cell Biology Reagents 15.5 15.4
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Total Immunocytometry & Reagents 7.4 2.3
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TOTAL 9.2 4.1
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TOTAL 8.5 6.3
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BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND MAJOR PRODUCT GROUPS
Nine Months Ended June 30,
(Unaudited; Amounts in thousands)
United States
---------------------------------
2002 2001 % Change
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BD MEDICAL SYSTEMS
Medical Surgical $ 521,253 $ 452,076 15.3
Consumer Health Care 200,348 214,022 (6.4)
Pharmaceutical Systems 50,827 38,464 32.1
Ophthalmic Systems 19,567 21,387 (8.5)
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TOTAL $ 791,995 $ 725,949 9.1
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BD CLINICAL LABORATORY SOLUTIONS
Preanalytical Solutions $ 277,118 $ 249,965 10.9
Diagnostic Systems 263,748 254,196 3.8
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TOTAL $ 540,866 $ 504,161 7.3
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BD BIOSCIENCES
Discovery Labware $ 72,545 $ 66,969 8.3
Immunocytometry & Reagents:
Flow Cytometry Instruments
& Reagents 88,078 86,345 2.0
Molecular Biology Reagents 41,243 45,409 (9.2)
Immunology/Cell Biology Reagents 48,413 42,441 14.1
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Total Immunocytometry & Reagents 177,734 174,195 2.0
---------- ---------- -----
TOTAL $ 250,279 $ 241,164 3.8
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TOTAL UNITED STATES $1,583,140 $1,471,274 7.6
---------- ---------- -----
International
---------------------------------
2002 2001 % Change
---------- ---------- --------
BD MEDICAL SYSTEMS
Medical Surgical $ 438,598 $ 421,410 4.1
Consumer Health Care 136,800 140,707 (2.8)
Pharmaceutical Systems 190,776 162,403 17.5
Ophthalmic Systems 19,421 16,862 15.2
---------- ---------- -----
TOTAL $ 785,595 $ 741,382 6.0
---------- ---------- -----
BD CLINICAL LABORATORY SOLUTIONS
Preanalytical Solutions $ 188,802 $ 178,223 5.9
Diagnostic Systems 180,768 174,108 3.8
---------- ---------- -----
TOTAL $ 369,570 $ 352,331 4.9
---------- ---------- -----
BD BIOSCIENCES
Discovery Labware $ 49,566 $ 45,124 9.8
Immunocytometry & Reagents:
Flow Cytometry Instruments
& Reagents 123,604 107,684 14.8
Molecular Biology Reagents 13,424 13,518 (0.7)
Immunology/Cell Biology Reagents 31,478 27,344 15.1
---------- ---------- -----
Total Immunocytometry & Reagents 168,506 148,546 13.4
---------- ---------- -----
TOTAL $ 218,072 $ 193,670 12.6
---------- ---------- -----
TOTAL INTERNATIONAL $1,373,237 $1,287,383 6.7
---------- ---------- -----
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND MAJOR PRODUCT GROUPS
Nine Months Ended June 30, (continued)
(Unaudited; Amounts in thousands)
Total
----------------------------------
2002 2001 % Change
----------- ---------- --------
BD MEDICAL SYSTEMS
Medical Surgical $ 959,851 $ 873,486 9.9
Consumer Health Care 337,148 354,729 (5.0)
Pharmaceutical Systems 241,603 200,867 20.3
Ophthalmic Systems 38,988 38,249 1.9
---------- ---------- -----
TOTAL $1,577,590 $1,467,331 7.5
---------- ---------- -----
BD CLINICAL LABORATORY SOLUTIONS
Preanalytical Solutions $ 465,920 $ 428,188 8.8
Diagnostic Systems 444,516 428,304 3.8
---------- ---------- -----
TOTAL $ 910,436 $ 856,492 6.3
---------- ---------- -----
BD BIOSCIENCES
Discovery Labware 122,111 112,093 8.9
Immunocytometry & Reagents:
Flow Cytometry Instruments
& Reagents 211,682 194,029 9.1
Molecular Biology Reagents 54,667 58,927 (7.2)
Immunology/Cell Biology Reagents 79,891 69,785 14.5
---------- ---------- -----
Total Immunocytometry & Reagents 346,240 322,741 7.3
---------- ---------- -----
TOTAL $ 468,351 $ 434,834 7.7
---------- ---------- -----
TOTAL REVENUES $2,956,377 $2,758,657 7.2
---------- ---------- -----
FX Neutral % Growth
------------------------
International Total
------------- -------
BD MEDICAL SYSTEMS
Medical Surgical 7.2 11.4
Consumer Health Care (0.3) (4.0)
Pharmaceutical Systems 18.5 21.1
Ophthalmic Systems 17.5 2.9
----- ----
TOTAL 8.5 8.8
----- ----
BD CLINICAL LABORATORY SOLUTIONS
Preanalytical Solutions 7.8 9.6
Diagnostic Systems 7.3 5.2
----- ----
TOTAL 7.5 7.4
----- ----
BD BIOSCIENCES
Discovery Labware 14.1 10.7
Immunocytometry & Reagents:
Flow Cytometry Instruments
& Reagents 17.8 10.8
Molecular Biology Reagents (0.7) (7.2)
Immunology/Cell Biology Reagents 17.1 15.2
----- ----
Total Immunocytometry & Reagents 16.0 8.5
----- ----
TOTAL 15.6 9.0
----- ----
TOTAL 9.3 8.4
----- ----
Contact:
Becton, Dickinson and Company
Investor Relations
Dean J. Paranicas, 201/847-7102
Corporate Communications
Charles A. Borgognoni, 201/847-6651
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