News & Events
BD Announces Results for Second Fiscal Quarter
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Contact: Patricia A. Spinella Investor Relations (201) 847-5453 Email: patricia_spinella@bd.com Colleen T. White Corporate Communications (201) 847-5369 Email: colleen_white@bd.com Franklin Lakes, NJ (April 27, 2005) -- BD (Becton, Dickinson and Company) (NYSE: BDX) today reported record quarterly revenues of $1.366 billion for the second fiscal quarter ended March 31, 2005, representing an increase of 9 percent over the prior year period.This quarter’s growth rate includes an estimated 3 percent benefit from foreign currency translation.Revenue growth in all segments benefited from foreign currency translation, particularly with respect to the Euro. Reported diluted earnings per share for the second quarter were 72 cents, which reflected diluted earnings per share of 71 cents from continuing operations and 1 cent per share from discontinued operations.Reported diluted earnings per share for the second quarter of fiscal 2004 were 62 cents, which included less than 1 cent per share from discontinued operations.The results of operations from Clontech, a unit of the BD Biosciences segment, have been classified as “discontinued operations” as a result of the October 4, 2004 announcement of BD’s intention to sell Clontech. “We’re pleased with our second quarter performance, which reflected revenue growth across all three segments and every global business unit of the Company.The combination of top-line results and continued improvement in operating efficiency resulted in double-digit earnings growth and strong cash flow,” said Edward J. Ludwig, Chairman, President and Chief Executive Officer.“Our strong performance enables us to deliver on the commitment we have made to our shareholders to continue to make the additional investments necessary to fuel future innovation.” For the six-month period ended March 31, 2005, reported revenues were $2.654 billion, representing a 9 percent increase from the same period a year ago, including an estimated 3 percent benefit from foreign currency translation.Reported diluted earnings per share for the six-month period ended March 31, 2005 were $1.46, which reflected diluted earnings per share of $1.45 from continuing operations and 1 cent per share from discontinued operations.For the same period in fiscal 2004, reported diluted earnings per share were $1.10 and included income of 1 cent per share from discontinued operations.However, due to rounding, diluted earnings per share from continuing operations were $1.10. Analyses of Second Quarter and Six-month Period of Fiscal Year 2005 and 2004 Earnings The following analyses of diluted earnings per share from continuing operations for the second quarter and six-month period of fiscal 2005 and 2004 exclude specified items that affect the comparability of results between periods. Three Months Ended Six-month Period Ended
March 31, March 31,
FY2005 FY2004 % Incr. FY2005 FY2004 % Incr.
Diluted EPS from
Continuing Operations: $0.71 $0.62 15% $1.45 $1.10 32%
Tax Examinations(1) - - (0.04) -
Tax Rate Impact(2) - - (0.02) -
BGM Charges(3) - - - 0.11
Share-Based
Compensation Exp.(4) 0.05 - 0.08 -
0.05 - 0.02 0.11
Rounding (0.01) - (0.01) (0.01)
Diluted EPS from
Continuing Operations
Excluding Specified
Items $0.75 $0.62 21% $1.46 $1.20 22%
(1) Included in diluted earnings per share from continuing operations for
the six-month period of fiscal 2005 are approximately 4 cents per
diluted share due to the reversal of tax reserves in connection with
the conclusion of tax examinations in four non-U.S. jurisdictions that
occurred in the first quarter.
(2) Represents the effect on diluted earnings per share from continuing
operations of tax-related events that caused the tax rate to vary from
the expected effective tax rate for the year. The effective tax rate
for the year, without taking into account the tax impact of the items
described in notes (1) and (4) herein, is expected to be 25.5%.
(3) Included in the six-month period of fiscal 2004 diluted earnings per
share from continuing operations is a charge of 11 cents per diluted
share related to the voluntary recall and write-off of certain blood
glucose strip inventory and other actions taken with respect to our
blood glucose monitoring products.
(4) Represents the effect on diluted earnings per share from continuing
operations relating to share-based compensation expense associated
with the early adoption of FASB Statement No. 123 (revised), and the
equity-based awards granted under the new long-term incentive program,
as described below.
Based on the foregoing analyses, diluted earnings per share from continuing operations, excluding specified items, of 75 cents for the second fiscal quarter of 2005 increased by 21 percent over diluted earnings per share from continuing operations of 62 cents for the second fiscal quarter of 2004.For the six-month period, diluted earnings per share from continuing operations, excluding specified items, of $1.46 for fiscal 2005 increased by 22 percent over diluted earnings per share from continuing operations, excluding specified items, of $1.20 for fiscal 2004. Share-Based Compensation Effective October 1, 2004, the Company adopted FASB Statement No. 123 (revised) relating to the expensing of share-based incentive awards.Diluted earnings per share from continuing operations for the second quarter and six-month period included 5 cents and 8 cents, respectively, of share-based compensation expense associated with the adoption of FASB Statement No. 123 (revised), and the equity-based awards granted under the Company’s new long-term incentive program.This program consists of a mix of performance-based restricted stock unit awards, time-vested restricted stock unit awards and stock options or stock appreciation rights.We estimate that total share-based compensation expense for fiscal 2005 will be about 17 cents per diluted share. Segment Results In the BD Medical segment, worldwide revenues for the quarter were $732 million, representing an increase of 7 percent from the prior year period.U.S. sales of safety-engineered products totaled $115 million compared with $110 million in the prior year’s quarter.The growth rate of U.S. safety-engineered products for the three months ended March 31, 2005 was adversely impacted by a major U.S. distributor reducing its inventory levels.For the six-month period ended March 31, 2005, U.S. sales of safety-engineered products totaled $241 million compared with $224 million in the prior year’s period.Included in BD Medical revenues were international sales of safety-engineered products of $21 million, compared with $17 million in the prior year’s quarter.For the six-month period ended March 31, 2005, international sales of safety-engineered products totaled $39 million compared with $31 million in the prior year’s period.Also contributing to the growth of the segment were strong sales in the Diabetes Care unit and the international portion of the Pharmaceutical Systems unit.For the six-month period ended March 31, 2005, the BD Medical segment reported 9 percent revenue growth. In the BD Diagnostics segment, worldwide revenues for the quarter were $430 million, representing an increase of 12 percent from the prior year period.The Preanalytical Systems unit of the segment reported revenue growth of 5 percent.U.S. sales of safety-engineered products totaled $79 million compared with $75 million in the prior year’s quarter.The growth rate of U.S. safety-engineered products for the three months ended March 31, 2005 was adversely impacted by a major U.S. distributor reducing its inventory levels.For the six-month period ended March 31, 2005, U.S. sales of safety-engineered products totaled $165 million compared with $151 million in the prior year’s period.Included in Preanalytical Systems revenues were international sales of safety-engineered products of $47 million, compared with $34 million in the prior year’s quarter.For the six-month period ended March 31, 2005, international sales of safety-engineered products totaled $91 million compared with $64 million in the prior year’s period.Revenues in the Diagnostic Systems unit of the segment increased 20 percent based, primarily, on exceptionally strong sales in the quarter of flu diagnostic tests in Japan.For the six-month period ended March 31, 2005, the BD Diagnostics segment reported 8 percent revenue growth. In the BD Biosciences segment, worldwide revenues from continuing operations for the quarter were $204 million, representing an increase of 8 percent from the prior year period.Instrument revenue growth continued to be the primary growth contributor, driven by sales of the BD FACSCanto™ and the BD™ LSR II flow cytometers.Also contributing to the growth of the segment were increased sales in the Discovery Labware unit.For the six-month period ended March 31, 2005, the BD Biosciences segment reported 11 percent revenue growth, representing continued strong sales of flow cytometry instruments and reagents. Geographic Results Second quarter revenues in the U.S. of $630 million represented an increase of 3 percent over the prior year period.Revenues outside the U.S. of $736 million represented an increase of 14 percent over the prior year period, including an estimated 5 percent benefit from foreign currency translation. For the six-month period ended March 31, 2005, revenues in the U.S. of $1.254 billion represented an increase of 5 percent over the prior year period.Revenues outside of the U.S. of $1.40 billion represented an increase of 13 percent over the prior year period, including an estimated 5 percent benefit from foreign currency translation. Fiscal 2005 Outlook for Third and Fourth Quarters and Full Year The following analyses of estimated diluted earnings per share from continuing operations for the third and fourth fiscal quarters and full year exclude specified items that affect the comparability of results between periods.
Three Months Ended Three Months Ended
June 30, September 30,
FY2005 FY2004 % Incr. FY2005 FY2004 % Incr.
(Estimated) (Estimated)
Diluted EPS from
Continuing
Operations: $0.66-$0.68(1) $0.42 57%-62% $0.69-$0.71(1) $0.70 +/-1%
Tax Examinations(2) - - - -
Tax Rate Impact(3) 0.02 - - -
BGM Charges(4) - - - -
Litigation
Settlement(4) - 0.24 - -
Share-Based Comp.
Exp.(5) 0.05 - 0.05 -
0.07 0.24 0.05 -
Diluted EPS from
Continuing Operations
Excluding Specified
Items $0.73-$0.75 $0.66 11%-14% $0.74-$0.76 $0.70 6%-9%
Twelve Months Ended
September 30,
FY2005 FY2004 % Incr.
(Estimated)
Diluted EPS from
Continuing Operations: $2.80-$2.84 (1) $2.21 27%-29%
Tax Examinations(2) (0.04) -
Tax Rate Impact(3) - -
BGM Charges(4) - 0.11
Litigation Settlement(4) - 0.24
Share-Based Comp. Exp.(5) 0.17 -
0.13 0.35
Diluted EPS from Continuing
Operations Excluding
Specified Items $2.93-$2.97 $2.56 14%-16%
The Company estimates that third fiscal quarter 2005 diluted earnings per share from continuing operations, excluding specified items, will increase in the range of 11 to 14 percent over third fiscal quarter 2004 diluted earnings per share from continuing operations, excluding specified items, of 66 cents. Fourth fiscal quarter 2005 diluted earnings per share from continuing operations, excluding specified items, are estimated to increase in the range of 6 to 9 percent over fourth fiscal quarter 2004 diluted earnings per share from continuing operations of 70 cents. The Company also estimates that diluted earnings per share from continuing operations for fiscal 2005, excluding specified items, will increase in the range of 14 to 16 percent over fiscal 2004 diluted earnings per share from continuing operations, excluding specified items, of $2.56. Conference Call Information A conference call regarding BD's second fiscal quarter results and its expectations for the third fiscal quarter and full fiscal year will be broadcast live on BD's website, http://www.bd.com/investors, at 10:00 a.m. (ET) Wednesday, April 27, 2005. The conference call will be available for replay on BD's website, http://www.bd.com/investors, or at 1-866-434-5261 (domestic) and 1-203-369-1004 (international) through the close of business on May 4, 2005. This news release contains certain non-GAAP financial measures. A reconciliation of these and other measures to the comparable GAAP measures is included in this release and in the attached financial tables. 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, 2004, BD reported total revenues of $4.935 billion. *** This press release, including the section entitled “Fiscal 2005 Outlook for Third and Fourth Quarters and Full Year,” contains certain estimates and other forward-looking statements (as defined under Federal securities laws) regarding BD’s performance, including future revenues, earnings per share and income, or events or developments that BD expects to occur or anticipates occurring in the future. 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, 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; changes in interest or foreign currency exchange rates; difficulties inherent in product development and delays in product introductions; changes in regional, national or foreign economic conditions; 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; uncertainties of litigation (as described in BD’s filings with the Securities and Exchange Commission) and changes in healthcare or other governmental regulation; issuance of new or revised accounting standards, as well as other factors discussed in this press release and 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 March 31,
2005 2004 % Change
REVENUES $1,365,530 $1,253,633 8.9
Cost of products sold 678,018 (1) 629,516 7.7
Selling and administrative 366,339 (1) 334,363 9.6
Research and development 65,988 (1) 60,155 9.7
TOTAL OPERATING COSTS AND EXPENSES 1,110,345 1,024,034 8.4
OPERATING INCOME 255,185 229,599 11.1
Interest expense, net (4,556) (7,960) (42.8)
Other expense, net (2,242) (3,119) (28.1)
INCOME FROM CONTINUING
OPERATIONS BEFORE INCOME TAXES 248,387 218,520 13.7
Income tax provision 61,878 54,437 13.7
INCOME FROM CONTINUING OPERATIONS 186,509 164,083 13.7
INCOME FROM DISCONTINUED
OPERATIONS NET OF INCOME
TAXES OF $1,015 IN 2005 AND
$616 IN 2004, RESPECTIVELY 1,641 1,077 NM
NET INCOME $188,150 $165,160 13.9
EARNINGS PER SHARE
Basic:
Income from continuing operations $0.74 $0.65 13.8
Income from discontinued operations $0.01 $- NM
Net income $0.74 $0.65 13.8
Diluted:
Income from continuing operations $0.71 $0.62 14.5
Income from discontinued operations $0.01 $- NM
Net income $0.72 $0.62 16.1
AVERAGE SHARES OUTSTANDING
Basic 253,427 253,294
Diluted 262,016 265,055
NM - Not Meaningful
(1) Includes share-based compensation expense relating to the early
adoption of SFAS No. 123 (revised), "Share-Based Payment" and the
equity-based awards granted under the new long-term incentive program.
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL INFORMATION
Three Months Ended March 31,
(Unaudited; Amounts in thousands, except per-share data)
2005
SFAS No. 123 Tax
As (revised) Rate Excluding
Reported Adoption (1) Impact(2) Items
Cost of products sold $678,018 $(2,360) $- $675,658
as a % of revenues 49.7% 49.5%
Gross profit 687,512 2,360 - 689,872
as a % of revenues 50.3% 50.5%
Selling and administrative 366,339 (12,747) - 353,592
as a % of revenues 26.8% 25.9%
Research and development 65,988 (1,448) - 64,540
as a % of revenues 4.8% 4.7%
Operating Income 255,185 16,555 - 271,740
as a % of revenues 18.7% 19.9%
Income taxes 61,878 4,592 1,090 67,560
effective tax rate 24.9% 25.5%
Income from continuing
operations 186,509 11,963 (1,090) 197,382
as a % of revenues 13.7% 14.5%
Diluted earnings per share
Income from continuing
operations $0.71 $0.05 $- $0.75
Income from discontinued
operations $0.01 $- $- $0.01
Diluted earnings per share $0.72 $0.05 $- $0.76
(1) Relates to the early adoption of SFAS No. 123 (revised), "Share-Based
Payment" and the equity-based awards granted under the new long-term
incentive program. Fiscal 2004 amounts have not been restated.
(2) Represents the effect on diluted earnings per share from continuing
operations of tax-related events that caused the tax rate to vary from
the expected effective tax rate for the year. The effective tax rate
for the year, without taking into account the tax impact of items
described in note (1) herein, is expected to be 25.5%.
BECTON DICKINSON AND COMPANY
CONSOLIDATED INCOME STATEMENTS
(Unaudited; Amounts in thousands, except per-share data)
Six Months Ended March 31,
2005 2004 % Change
REVENUES $2,653,899 $2,438,753 8.8
Cost of products sold 1,312,519 (1) 1,263,771 (2) 3.9
Selling and administrative 707,427 (1) 658,460 7.4
Research and development 128,071 (1) 118,443 8.1
TOTAL OPERATING COSTS
AND EXPENSES 2,148,017 2,040,674 5.3
OPERATING INCOME 505,882 398,079 27.1
Interest expense, net (13,678) (16,888) (19.0)
Other (expense) income, net (5,103) (4,030) 26.6
INCOME BEFORE INCOME TAXES 487,101 377,161 29.1
Income tax provision 106,194 88,153 20.5
INCOME FROM CONTINUING OPERATIONS 380,907 289,008 31.8
INCOME FROM DISCONTINUED
OPERATIONS NET OF INCOME
TAXES OF $1,638 IN 2005 AND
$897 IN 2004, RESPECTIVELY 2,594 1,554 NM
NET INCOME $383,501 $290,562 32.0
EARNINGS PER SHARE
Basic:
Income from continuing operations $1.51 $1.14 32.5
Income from discontinued operations $0.01 $0.01 -
Net income $1.52 $1.15 32.2
Diluted:
Income from continuing operations $1.45 $1.10 31.8
Income from discontinued operations $0.01 $0.01 -
Net income $1.46 $1.10 32.7
AVERAGE SHARES OUTSTANDING
Basic 252,317 252,710
Diluted 262,393 263,763
NM - Not Meaningful
(1) Includes share-based compensation expense relating to the early
adoption of SFAS No. 123 (revised), "Share-Based Payment" and the
equity-based awards granted under the new long-term incentive program.
(2) Includes a $45,024 charge associated with blood glucose monitoring
(BGM) products.
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL INFORMATION
Six Months Ended March 31,
(Unaudited; Amounts in thousands, except per-share data)
2005
SFAS No. 123 Tax
(revised) Tax Rate
As Adoption Examinations Impact Excluding
Reported (1) (2) (3) Items
Cost of products sold $1,312,519 $(3,908) $- $- $1,308,611
as a % of revenues 49.5% 49.3%
Gross profit 1,341,380 3,908 - - 1,345,288
as a % of revenues 50.5% 50.7%
Selling and
administrative 707,427 (21,855) - - 685,572
as a % of revenues 26.7% 25.8%
Research and development 128,071 (2,382) - - 125,689
as a % of revenues 4.8% 4.7%
Operating Income 505,882 28,145 - - 534,027
as a % of revenues 19.1% 20.1%
Income taxes 106,194 7,688 11,265 6,240 131,387
effective tax rate 21.8% 25.5%
Income from continuing
operations 380,907 20,457 (11,265) (6,240) 383,859
as a % of revenues 14.4% 14.5%
Diluted earnings per share
Income from continuing
operations $1.45 $0.08 $(0.04) $(0.02) $1.46
Income from discontinued
operations $0.01 $- $- $- $0.01
Diluted earnings per share $1.46 $0.08 $(0.04) $(0.02) $1.47
(1) Relates to the early adoption of SFAS No. 123 (revised), "Share-Based
Payment" and the equity-based awards granted under the new long-term
incentive program. Fiscal 2004 amounts have not been restated.
(2) Relates to the reversal of tax reserves in connection with the
conclusion of tax examinations in four non-U.S. jurisdictions that
occurred in the first quarter.
(3) Represents the effect on diluted earnings per share from continuing
operations of tax-related events that caused the tax rate to vary from
the expected effective tax rate for the year. The effective tax rate
for the year, without taking into account the tax impact of items
described in notes (1) and (2) herein, is expected to be 25.5%.
2004
As BGM Excluding
Reported Charges(4) Charges
Gross Profit $1,174,982 $45,024 $1,220,006
as a % of revenues 48.2% 50.0%
Operating Income 398,079 45,024 443,103
as a % of revenues 16.3% 18.2%
Net Income 290,562 27,915 318,477
as a % of revenues 11.9% 13.1%
Diluted earnings per share
Income from continuing operations $1.10 $0.11 $1.20
Income from discontinued operations $0.01 $- $0.01
Diluted earnings per share $1.10 $0.11 $1.21
(4) Relates to the fiscal 2004 charge associated with blood glucose
monitoring (BGM) products.
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY SEGMENT AND GEOGRAPHIC AREA
(Unaudited; Amounts in thousands)
Three Months Ended March 31,
2005 2004 % Change
BD MEDICAL
United States $330,044 $320,687 2.9
International 401,621 361,954 11.0
TOTAL $731,665 $682,641 7.2
BD DIAGNOSTICS
United States $213,175 $211,419 0.8
International 216,594 171,456 26.3
TOTAL $429,769 $382,875 12.2
BD BIOSCIENCES
United States $86,947 $79,083 9.9
International 117,149 109,034 7.4
TOTAL $204,096 $188,117 8.5
TOTAL REVENUES
United States $630,166 $611,189 3.1
International 735,364 642,444 14.5
TOTAL $1,365,530 $1,253,633 8.9
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY SEGMENT AND GEOGRAPHIC AREA
(Unaudited; Amounts in thousands)
Six Months Ended March 31,
2005 2004 % Change
BD MEDICAL
United States $659,698 $624,435 5.6
International 765,789 685,074 11.8
TOTAL $1,425,487 $1,309,509 8.9
BD DIAGNOSTICS
United States $431,883 $424,336 1.8
International 411,669 359,484 14.5
TOTAL $843,552 $783,820 7.6
BD BIOSCIENCES
United States $162,644 $147,259 10.4
International 222,216 198,165 12.1
TOTAL $384,860 $345,424 11.4
TOTAL REVENUES
United States $1,254,225 $1,196,030 4.9
International 1,399,674 1,242,723 12.6
TOTAL $2,653,899 $2,438,753 8.8
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Three Months Ended March 31,
(Unaudited; Amounts in thousands)
United States
2005 2004 % Change
BD MEDICAL
Medical Surgical Systems $203,671 $196,418 3.7
Diabetes Care 94,482 88,730 6.5
Pharmaceutical Systems 26,772 30,276 (11.6)
Ophthalmic Systems 5,119 5,263 (2.7)
TOTAL $330,044 $320,687 2.9
BD DIAGNOSTICS
Preanalytical Systems $107,050 $109,464 (2.2)
Diagnostic Systems 106,125 101,955 4.1
TOTAL $213,175 $211,419 0.8
BD BIOSCIENCES
Discovery Labware $26,689 $24,465 9.1
Immunocytometry Systems 41,051 36,129 13.6
Pharmingen 19,207 18,489 3.9
TOTAL $86,947 $79,083 9.9
TOTAL UNITED STATES $630,166 $611,189 3.1
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Three Months Ended March 31, (continued)
(Unaudited; Amounts in thousands)
International
% Change
2005 2004 Reported FX Neutral FX Impact
BD MEDICAL
Medical Surgical
Systems $198,621 $187,062 6.2 2.1 4.1
Diabetes Care 67,714 61,338 10.4 5.3 5.1
Pharmaceutical
Systems 125,999 105,100 19.9 14.2 5.7
Ophthalmic Systems 9,287 8,454 9.9 4.9 5.0
TOTAL $401,621 $361,954 11.0 6.2 4.8
BD DIAGNOSTICS
Preanalytical Systems $97,785 $86,479 13.1 8.0 5.1
Diagnostic Systems 118,809 84,977 39.8 33.5 6.3
TOTAL $216,594 $171,456 26.3 20.6 5.7
BD BIOSCIENCES
Discovery Labware $25,722 $24,088 6.8 1.8 5.0
Immunocytometry
Systems 72,709 67,331 8.0 3.4 4.6
Pharmingen 18,718 17,615 6.3 2.7 3.6
TOTAL $117,149 $109,034 7.4 3.0 4.4
TOTAL INTERNATIONAL $735,364 $642,444 14.5 9.5 5.0
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Three Months Ended March 31, (continued)
(Unaudited; Amounts in thousands)
Total
% Change
2005 2004 Reported FX Neutral FX Impact
BD MEDICAL
Medical Surgical
Systems $402,292 $383,480 4.9 2.9 2.0
Diabetes Care 162,196 150,068 8.1 6.0 2.1
Pharmaceutical Systems 152,771 135,376 12.8 8.4 4.4
Ophthalmic Systems 14,406 13,717 5.0 1.9 3.1
TOTAL $731,665 $682,641 7.2 4.7 2.5
BD DIAGNOSTICS
Preanalytical Systems $204,835 $195,943 4.5 2.3 2.2
Diagnostic Systems 224,934 186,932 20.3 17.5 2.8
TOTAL $429,769 $382,875 12.2 9.7 2.5
BD BIOSCIENCES
Discovery Labware $52,411 $48,553 7.9 5.5 2.4
Immunocytometry
Systems 113,760 103,460 10.0 7.0 3.0
Pharmingen 37,925 36,104 5.0 3.3 1.7
TOTAL $204,096 $188,117 8.5 5.9 2.6
TOTAL REVENUES $1,365,530 $1,253,633 8.9 6.4 2.5
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Six Months Ended March 31,
(Unaudited; Amounts in thousands)
United States
2005 2004 % Change
BD MEDICAL
Medical Surgical Systems $419,177 $394,937 6.1
Diabetes Care 182,943 163,579 11.8
Pharmaceutical Systems 46,821 54,631 (14.3)
Ophthalmic Systems 10,757 11,288 (4.7)
TOTAL $659,698 $624,435 5.6
BD DIAGNOSTICS
Preanalytical Systems $221,813 $216,091 2.6
Diagnostic Systems 210,070 208,245 0.9
TOTAL $431,883 $424,336 1.8
BD BIOSCIENCES
Discovery Labware $50,783 $47,880 6.1
Immunocytometry Systems 75,745 64,897 16.7
Pharmingen 36,116 34,482 4.7
TOTAL $162,644 $147,259 10.4
TOTAL UNITED STATES $1,254,225 $1,196,030 4.9
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Six Months Ended March 31, (continued)
(Unaudited; Amounts in thousands)
International
% Change
2005 2004 Reported FX Neutral FX Impact
BD MEDICAL
Medical Surgical
Systems $392,679 $363,386 8.1 3.3 4.8
Diabetes Care 137,931 119,515 15.4 9.6 5.8
Pharmaceutical
Systems 216,635 185,944 16.5 10.1 6.4
Ophthalmic Systems 18,544 16,229 14.3 8.1 6.2
TOTAL $765,789 $685,074 11.8 6.4 5.4
BD DIAGNOSTICS
Preanalytical
Systems $191,543 $164,832 16.2 10.4 5.8
Diagnostic Systems 220,126 194,652 13.1 7.6 5.5
TOTAL $411,669 $359,484 14.5 8.9 5.6
BD BIOSCIENCES
Discovery Labware $48,591 $45,556 6.7 1.3 5.4
Immunocytometry
Systems 138,115 120,649 14.5 9.0 5.5
Pharmingen 35,510 31,960 11.1 6.4 4.7
TOTAL $222,216 $198,165 12.1 6.8 5.3
TOTAL INTERNATIONAL $1,399,674 $1,242,723 12.6 7.2 5.4
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Six Months Ended March 31, (continued)
(Unaudited; Amounts in thousands)
Total
% Change
2005 2004 Reported FX Neutral FX Impact
BD MEDICAL
Medical Surgical
Systems $811,856 $758,323 7.1 4.8 2.3
Diabetes Care 320,874 283,094 13.3 10.9 2.4
Pharmaceutical
Systems 263,456 240,575 9.5 4.6 4.9
Ophthalmic Systems 29,301 27,517 6.5 2.8 3.7
TOTAL $1,425,487 $1,309,509 8.9 6.0 2.9
BD DIAGNOSTICS
Preanalytical
Systems $413,356 $380,923 8.5 6.0 2.5
Diagnostic Systems 430,196 402,897 6.8 4.1 2.7
TOTAL $843,552 $783,820 7.6 5.0 2.6
BD BIOSCIENCES
Discovery Labware $99,374 $93,436 6.4 3.7 2.7
Immunocytometry
Systems 213,860 185,546 15.3 11.7 3.6
Pharmingen 71,626 66,442 7.8 5.6 2.2
TOTAL $384,860 $345,424 11.4 8.4 3.0
TOTAL REVENUES $2,653,899 $2,438,753 8.8 6.0 2.8
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