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 26, 2006) -- BD (Becton, Dickinson and Company) (NYSE: BDX) today reported record quarterly revenues of $1.449 billion for the second fiscal quarter ended March 31, 2006, representing an increase of 6 percent over the prior year period. This quarter's growth rate reflects an overall estimated 3 percent unfavorable impact from foreign currency translation, which affected all segments. "We are very pleased with our strong second quarter results, which exceeded our expectations," said Edward J. Ludwig, Chairman, President and Chief Executive Officer. "We also closed the acquisition of GeneOhm, which will enable BD to further progress in the emerging field of healthcare- associated infections. The Company is well positioned to become a leader in the prevention and management of this global healthcare problem." GeneOhm Sciences, Inc. Acquisition Completed On February 14, 2006, BD announced the completion of its acquisition of GeneOhm Sciences, Inc. (GeneOhm), a company that has pioneered the development of molecular diagnostic testing for the rapid detection of bacteria, which cause healthcare-associated infections. Diluted earnings per share from continuing operations for the second quarter reflects a reduction of 1 cent per share related to the impact of GeneOhm operations for the second quarter. For the full fiscal year 2006, the Company expects diluted earnings per share from continuing operations to be reduced by approximately 7 cents related to the impact of GeneOhm operations. In addition, in the second quarter, the Company recorded an in-process research and development charge of $53 million associated with the acquisition, which further reduced diluted earnings per share from continuing operations by 21 cents in the quarter (see Table 1). Analysis of Second Quarter and Six-month Period of Fiscal Year 2006 and 2005 Earnings The following analysis of diluted earnings per share from continuing
operations for the second quarter and six-month period of fiscal 2006 and 2005
identifies specified items that affect the comparability of results between
periods.
(Table 1) Three Months Ended Six Months Ended
March 31, March 31,
% Incr./
FY2006 FY2005 (Decr.) FY2006 FY2005 % Incr.
Diluted EPS from
Continuing
Operations:(1) $0.60 $0.71 -15% $1.45 $1.45 0%
Specified Items:
Insurance
Settlements(2) (0.02) -- (0.04) --
In-Process Research
and Development
Charge(3) 0.21 0.21
Tax Examinations(4) -- -- -- (0.04)
Tax Rate Impact(5) -- -- -- (0.02)
Rounding -- -- -- (0.01)
0.19 -- 0.17 (0.07)
Diluted EPS from
Continuing Operations
Excluding Specified
Items:(1) $0.79 $0.71 11% $1.62 $1.38 17%
(1) Includes the effect on diluted earnings per share from continuing
operations of a 1 cent reduction in the second quarter and the six-
month period ended March 31, 2006 relating to GeneOhm operations.
(2) Represents the effect on diluted earnings per share from continuing
operations of 2 cents in each of the first and second quarter of
fiscal 2006 related to proceeds received from insurance settlements
regarding the Company's previously owned latex glove business.
(3) Represents the effect on diluted earnings per share from continuing
operations of the in-process research and development charge recorded
in the second quarter of fiscal 2006 related to the GeneOhm
acquisition.
(4) Represents the effect on diluted earnings per share from continuing
operations of the reversal of tax reserves in the first fiscal quarter
of 2005 in connection with the conclusion of tax examinations in four
non-U.S. jurisdictions.
(5) Represents the effect on diluted earnings per share from continuing
operations of tax-related events that caused the quarterly tax rate to
vary from the then expected effective tax rate for fiscal year 2005.
As illustrated in Table 1, diluted earnings per share from continuing operations, excluding specified items and including the dilutive impact on operating results from the acquisition, of 79 cents for the second fiscal quarter of 2006 increased by 11 percent over diluted earnings per share from continuing operations of 71 cents for the second fiscal quarter of 2005. For the six-month period, diluted earnings per share from continuing operations, excluding specified items and including the dilutive impact on operating results from the acquisition, of $1.62 for fiscal 2006 increased by 17 percent over diluted earnings per share from continuing operations, excluding specified items, of $1.38 for fiscal 2005. Segment Results In the BD Medical segment, worldwide revenues for the quarter were $795 million, representing an increase of 9 percent from the prior year period. Strong sales in the Diabetes Care and Pharmaceutical Systems units contributed to the growth of the segment. U.S. sales of safety-engineered products totaled $123 million compared with $115 million in the prior year's quarter. The growth rate of safety-engineered products benefited, in part, from a favorable comparison to the prior year's revenues, which were negatively impacted by reductions in inventory by a major U.S. distributor. For the six- month period ended March 31, 2006, U.S. sales of safety-engineered products totaled $255 million compared with $241 million in the prior year's period. Included in BD Medical revenues were international sales of safety-engineered products of $22 million compared with $21 million in the prior year's quarter. For the six-month period ended March 31, 2006, international sales of safety- engineered products totaled $44 million compared with $39 million in the prior year's period. For the six-month period ended March 31, 2006, the BD Medical segment reported 10 percent revenue growth. In the BD Diagnostics segment, worldwide revenues for the quarter were $434 million, representing an increase of 1 percent from the prior year period. The Preanalytical Systems unit of the segment reported revenue growth of 11 percent, benefiting from both BD Vacutainer(R) Push Button Blood Collection Set sales in the current year's quarter and a favorable comparison to the prior year's revenues, which were negatively impacted by reductions in inventory by a major U.S. distributor. U.S. sales of safety-engineered products totaled $97 million compared with $79 million in the prior year's quarter. For the six-month period ended March 31, 2006, U.S. sales of safety- engineered products totaled $193 million compared with $165 million in the prior year's period. Included in Preanalytical Systems revenues were international sales of safety-engineered products of $55 million compared with $47 million in the prior year's quarter. For the six-month period ended March 31, 2006, international sales of safety-engineered products totaled $107 million compared with $91 million in the prior year's period. Second quarter revenues in the Diagnostic Systems unit of the segment declined 8%, despite strong sales from diagnostic instrument platforms. For the most part, this decline in revenues was due to a relatively mild flu season in fiscal 2006 compared with 2005, in both Japan and the U.S. To a lesser extent, second quarter revenues were negatively impacted by the timing of early sales of flu diagnostic tests in the first fiscal quarter of 2006 and a challenging comparison to exceptionally strong sales of flu diagnostic tests in the prior year's quarter in Japan. For the six-month period ended March 31, 2006, the BD Diagnostics segment reported 4 percent revenue growth. In the BD Biosciences segment, worldwide revenues from continuing operations for the quarter were $220 million, representing an increase of 8 percent from the prior year period. Flow cytometry instrument and reagent sales continued to be the primary growth contributors. Sales in the Discovery Labware unit as well as sales of cell imaging products also contributed to sales growth. For the six-month period ended March 31, 2006, the BD Biosciences segment reported 9 percent revenue growth, representing continued strong sales of flow cytometry instruments and reagents. Geographic Results Second quarter revenues in the U.S. were $702 million, representing an increase of 11 percent over the prior year period. Revenues outside the U.S. were $748 million, representing an increase of 2 percent over the prior year period, and reflected an estimated 5 percent unfavorable impact from foreign currency translation. For the six-month period ended March 31, 2006, revenues in the U.S. were $1.383 billion, representing an increase of 10 percent over the prior year period. Revenues outside of the U.S. were $1.481 billion, representing an increase of 6 percent over the prior year period, and reflected an estimated 4 percent unfavorable impact from foreign currency translation. Fiscal 2006 Outlook for Third and Fourth Quarters and Full Year The following analysis of estimated diluted earnings per share from
continuing operations for the third and fourth fiscal quarters and full fiscal
year identifies specified items that affect the comparability of results
between periods.
(Table 2) Three Months Three Months
Ended Ended
June 30, September 30,
% %
FY2006 FY2005 Incr. FY2006 FY2005 Incr.
(Estimated) (Estimated)
Diluted EPS from
Continuing
Operations:(1) $0.76-$0.78 $0.73 4-7% $0.80-$0.82 $0.47 70-74%
Specified Items:
Insurance
Settlements(2) -- -- -- --
In-Process
Research and
Development
Charge(3) -- -- -- --
Tax
Examinations(4) -- -- -- --
Tax Rate
Impact(5) -- 0.01 -- 0.02
Repatriation Tax
Charge(6) -- -- -- 0.27
Rounding -- -- -- --
-- 0.01 -- 0.29
Diluted EPS from
Continuing
Operations
Excluding
Specified
Items:(1) $0.76-$0.78 $0.74 3-5% $0.80-$0.82 $0.76 5-8%
Twelve Months Ended
September 30,
FY2006 FY2005 % Incr.
(Estimated)
Diluted EPS from
Continuing
Operations:(1) $3.01-$3.05 $2.66 13-15%
Specified Items:
Insurance
Settlements(2) (0.04) --
In-Process
Research and
Development
Charge(3) 0.21
Tax
Examinations(4) -- (0.04)
Tax Rate
Impact(5) -- --
Repatriation Tax
Charge(6) -- 0.27
Rounding -- (0.01)
0.17 0.22
Diluted EPS from
Continuing
Operations
Excluding
Specified
Items:(1) $3.18-$3.22 $2.88 10-12%
(1) Includes the effect on estimated diluted earnings per share from
continuing operations of a 3 cent reduction in each of the third and
fourth quarters and a 7 cent reduction in the twelve-month period
ended September 30, 2006 relating to GeneOhm operations.
(2) Represents the effect on estimated diluted earnings per share from
continuing operations of 2 cents in each of the first and second
quarter of fiscal 2006 related to proceeds received from insurance
settlements regarding the Company's previously owned latex glove
business.
(3) Represents the effect on estimated diluted earnings per share from
continuing operations of the in-process research and development
charge recorded in the second quarter of fiscal 2006 related to the
GeneOhm acquisition.
(4) Represents the effect on diluted earnings per share from continuing
operations of the reversal of tax reserves in the first fiscal quarter
of 2005 in connection with the conclusion of tax examinations in four
non-U.S. jurisdictions.
(5) Represents the effect on diluted earnings per share from continuing
operations of tax-related events that caused the quarterly tax rate to
vary from the then expected effective tax rate for fiscal year 2005.
(6) Included in diluted earnings per share from continuing operations for
the fourth quarter of fiscal 2005 is 27 cents per diluted share
substantially related to the impact on taxes of the planned
repatriation of $1.3 billion of foreign earnings under the provisions
of the American Jobs Creation Act.
As illustrated in Table 2, the Company estimates that diluted earnings per share from continuing operations, including the expected dilutive impact on operating results from the acquisition, will increase approximately 3-5 percent for the third fiscal quarter of 2006 over diluted earnings per share from continuing operations, excluding specified items, of 74 cents for the third fiscal quarter of 2005. Excluding the expected dilutive impact of 3 cents on operating results from the acquisition, diluted earnings per share from continuing operations for the third fiscal quarter of 2006 are expected to be in the 79 to 81 cent range, representing an increase of 7-9 percent over diluted earnings per share from continuing operations, excluding specified items, of 74 cents for the third fiscal quarter of 2005. The Company also estimates that diluted earnings per share from continuing operations, including the expected dilutive impact on operating results from the acquisition, will increase approximately 5-8 percent for the fourth fiscal quarter of 2006 over diluted earnings per share from continuing operations, excluding specified items, of 76 cents for the fiscal year 2005. Excluding the expected dilutive impact of 3 cents on operating results from the acquisition, diluted earnings per share from continuing operations for the fourth fiscal quarter of 2006 are expected to be in the 83 to 85 cent range, representing an increase of 9-12 percent over diluted earnings per share from continuing operations, excluding specified items, of 76 cents for the fourth fiscal quarter of 2005. For the full fiscal year 2006, the Company estimates that diluted earnings per share from continuing operations, excluding specified items, and including the expected dilutive impact on operating results from the acquisition, are expected to be in the $3.18 to $3.22 range, representing an increase of approximately 10-12 percent over diluted earnings per share from continuing operations, excluding specified items, of $2.88 for the fiscal year 2005. Diluted earnings per share from continuing operations for the full year 2006, excluding specified items and the expected dilutive impact of 7 cents on operating results from the acquisition, are expected to be in the $3.25 to $3.29 range, representing an increase of 13-14 percent over diluted earnings per share from continuing operations, excluding specified items, of $2.88 for the fiscal year 2005. Conference Call Information A conference call regarding BD's second fiscal quarter results and its expectations for the third and fourth fiscal quarters will be broadcast live on BD's website, www.bd.com/investors, at 10:00 a.m. (ET) Wednesday, April 26, 2006. The conference call will be available for replay on BD's website, www.bd.com/investors, or at 1-800-272-5921 (domestic) and 1-402-220-9717 (international) through the close of business on Wednesday, May 3, 2006. 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. About BD BD, a leading global medical technology company that makes and sells medical devices, instrumented systems and reagents, is dedicated to improving people's health throughout the world. BD is focused on improving drug therapy, enhancing the quality and speed of diagnosing infectious diseases, and advancing research and discovery of new drugs and vaccines. The Company'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 more than 25,000 people in approximately 50 countries throughout the world. The Company serves healthcare institutions, life science researchers, clinical laboratories, industry and the general public. For more information, please visit www.bd.com. This press release, including the section entitled "Fiscal 2006 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; further 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); the effects of potential pandemic diseases; changes in healthcare or other governmental regulation; and 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,
2006 2005 % Change
REVENUES $1,449,317 $1,365,530 6.1
Cost of products
sold 710,635 678,018 4.8
Selling and
administrative 369,779 366,339 0.9
Research and
development 129,099 (1) 65,988 95.6
TOTAL OPERATING
COSTS
AND EXPENSES 1,209,513 1,110,345 8.9
OPERATING INCOME 239,804 255,185 (6.0)
Interest expense (19,805) (13,044) 51.8
Interest income 16,991 8,488 NM
Other expense, net (451) (2,242) (79.9)
INCOME FROM CONTINUING
OPERATIONS BEFORE
INCOME TAXES 236,539 248,387 (4.8)
Income tax provision 80,301 61,878 29.8
INCOME FROM
CONTINUING
OPERATIONS 156,238 186,509 (16.2)
(LOSS) INCOME FROM
DISCONTINUED OPERATIONS
NET OF INCOME TAX
(BENEFIT) PROVISION OF
$(1,330) AND $1,015,
RESPECTIVELY (2,170)(2) 1,641 NM
NET INCOME $154,068 $188,150 (18.1)
EARNINGS PER SHARE
Basic:
Income from continuing
operations $0.63 $0.74 (14.9)
(Loss) income from
discontinued operations $(0.01) $0.01 NM
Net income (3) $0.62 $0.74 (16.2)
Diluted:
Income from continuing
operations $0.60 $0.71 (15.5)
(Loss) income from
discontinued operations $(0.01) $0.01 NM
Net income (3) $0.60 $0.72 (16.7)
AVERAGE SHARES OUTSTANDING
Basic 248,088 253,427
Diluted 258,299 262,016
NM - Not Meaningful
(1) Includes the in-process research and development ("IPR&D") charge
related to the GeneOhm acquisition.
(2) Represents certain adjustments relating to the divestiture of
Clontech.
(3) Total per share amounts may not add due to rounding.
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL INFORMATION
Three Months Ended March 31,
(Unaudited; Amounts in thousands, except per-share data)
2006
As Insurance GeneOhm Excluding
Reported Settlement(1) IPR&D(2) Items
Selling and administrative 369,779 10,000 -- 379,779
as a % of revenues 25.5% 26.2%
Research and development 129,099 -- (53,300) 75,799
as a % of revenues 8.9% 5.2%
Operating Income 239,804 (10,000) 53,300 283,104
as a % of revenues 16.5% 19.5%
Income taxes 80,301 (3,800) -- 76,501
effective tax rate 33.9% 27.3%
Income from continuing
operations 156,238 (6,200) 53,300 203,338
as a % of revenues 10.8% 14.0%
Diluted earnings per share
Income from continuing
operations $0.60 $(0.02) $0.21 $0.79
(1) Represents the effect in the second fiscal quarter of 2006 related to
proceeds received from insurance settlements in connection with the
Company's previously owned latex glove business.
(2) Represents the in-process research and development ("IPR&D") charge
related to the GeneOhm acquisition.
BECTON DICKINSON AND COMPANY
CONSOLIDATED INCOME STATEMENTS
(Unaudited; Amounts in thousands, except per-share data)
Six Months Ended March 31,
2006 2005 % Change
REVENUES $2,863,378 $2,653,899 7.9
Cost of products
sold 1,386,376 1,312,519 5.6
Selling and
administrative 737,653 707,427 4.3
Research and
development 198,424 (1) 128,071 54.9
TOTAL OPERATING COSTS
AND EXPENSES 2,322,453 2,148,017 8.1
OPERATING INCOME 540,925 505,882 6.9
Interest expense (36,565) (27,371) 33.6
Interest income 31,662 13,693 NM
Other expense, net (1,614) (5,103) (68.4)
INCOME FROM CONTINUING
OPERATIONS BEFORE
INCOME TAXES 534,408 487,101 9.7
Income tax provision 160,310 106,194 51.0
INCOME FROM CONTINUING
OPERATIONS 374,098 380,907 (1.8)
(LOSS) INCOME FROM
DISCONTINUED OPERATIONS
NET OF INCOME TAX
(BENEFIT) PROVISION OF
$(1,330) AND $1,638,
RESPECTIVELY (2,170)(2) 2,594 NM
NET INCOME $371,928 $383,501 (3.0)
EARNINGS PER SHARE
Basic:
Income from continuing
operations $1.51 $1.51 --
(Loss) income from
discontinued
operations $(0.01) $0.01 NM
Net income $1.50 $1.52 (1.3)
Diluted:
Income from continuing
operations $1.45 $1.45 --
(Loss) income from
discontinued
operations $(0.01) $0.01 NM
Net income (3) $1.45 $1.46 (0.7)
AVERAGE SHARES
OUTSTANDING
Basic 248,067 252,317
Diluted 257,145 262,393
NM - Not Meaningful
(1) Includes the in-process research and development ("IPR&D") charge
related to the GeneOhm acquisition.
(2) Represents certain adjustments relating to the divestiture of
Clontech.
(3) Total per share amounts may not add due to rounding.
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL INFORMATION
(Unaudited; Amounts in thousands, except per-share data)
2006
As Insurance GeneOhm Excluding
Reported Settlement(1) IPR&D(2) Items
Selling and administrative 737,653 17,000 -- 754,653
as a % of revenues 25.8% 26.4%
Research and development 198,424 -- (53,300) 145,124
as a % of revenues 6.9% 5.1%
Operating Income 540,925 (17,000) 53,300 577,225
as a % of revenues 18.9% 20.2%
Income taxes 160,310 (6,460) -- 153,850
effective tax rate 30.0% 27.0%
Income from continuing
operations 374,098 (10,540) 53,300 416,858
as a % of revenues 13.1% 14.6%
Diluted earnings per share
Income from continuing
operations $1.45 $(0.04) $0.21 $1.62
(1) Represents the effect in 2006 related to proceeds received from
insurance settlements in connection with the Company's previously
owned latex glove business.
(2) Represents the in-process research and development ("IPR&D") charge
related to the GeneOhm acquisition.
2005
As Tax Tax Rate Excluding
Reported Examinations(4) Impact(5) Charges
Income taxes 106,194 11,265 6,240 123,699
effective tax rate 21.8% 25.4%
Income from continuing
operations 380,907 (11,265) (6,240) 363,402
as a % of revenues 14.4% 13.7%
Diluted earnings per share
Income from continuing
operations (3) $1.45 $(0.04) $(0.02) $1.38
(3) Total per share amounts may not add due to rounding.
(4) Relates to the reversal of tax reserves in the first fiscal quarter
2005 in connection with the conclusion of tax examinations in four
non-U.S. jurisdictions.
(5) Represents the effect on diluted earnings per share from continuing
operations of tax-related events that caused the quarterly tax rate to
vary from the then expected effective tax rate for fiscal year 2005.
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY SEGMENT AND GEOGRAPHIC AREA
(Unaudited; Amounts in thousands)
Three Months Ended March 31,
2006 2005 % Change
BD MEDICAL
United States $373,316 $330,044 13.1
International 422,022 401,621 5.1
TOTAL $795,338 $731,665 8.7
BD DIAGNOSTICS
United States $232,913 $213,175 9.3
International 201,166 216,594 (7.1)
TOTAL $434,079 $429,769 1.0
BD BIOSCIENCES
United States $95,315 $86,947 9.6
International 124,585 117,149 6.3
TOTAL $219,900 $204,096 7.7
TOTAL REVENUES
United States $701,544 $630,166 11.3
International 747,773 735,364 1.7
TOTAL $1,449,317 $1,365,530 6.1
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY SEGMENT AND GEOGRAPHIC AREA
(Unaudited; Amounts in thousands)
Six Months Ended March 31,
2006 2005 % Change
BD MEDICAL
United States $739,899 $659,698 12.2
International 826,139 765,789 7.9
TOTAL $1,566,038 $1,425,487 9.9
BD DIAGNOSTICS
United States $462,001 $431,883 7.0
International 415,932 411,669 1.0
TOTAL $877,933 $843,552 4.1
BD BIOSCIENCES
United States $180,629 $162,644 11.1
International 238,778 222,216 7.5
TOTAL $419,407 $384,860 9.0
TOTAL REVENUES
United States $1,382,529 $1,254,225 10.2
International 1,480,849 1,399,674 5.8
TOTAL $2,863,378 $2,653,899 7.9
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Three Months Ended March 31,
(Unaudited; Amounts in thousands)
United States
2006 2005 % Change
BD MEDICAL
Medical Surgical Systems $220,050 $203,671 8.0
Diabetes Care 115,726 94,482 22.5
Pharmaceutical Systems 32,028 26,772 19.6
Ophthalmic Systems 5,512 5,119 7.7
TOTAL $373,316 $330,044 13.1
BD DIAGNOSTICS
Preanalytical Systems $125,412 $107,050 17.2
Diagnostic Systems 107,501 106,125 1.3
TOTAL $232,913 $213,175 9.3
BD BIOSCIENCES
Discovery Labware $28,762 $26,689 7.8
Immunocytometry Systems 46,226 41,051 12.6
Pharmingen 20,327 19,207 5.8
TOTAL $95,315 $86,947 9.6
TOTAL UNITED STATES $701,544 $630,166 11.3
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
2006 2005 Reported FX Neutral FX Impact
BD MEDICAL
Medical Surgical
Systems $204,531 $198,621 3.0 4.7 (1.7)
Diabetes Care 72,568 67,714 7.2 11.3 (4.1)
Pharmaceutical Systems 135,081 125,999 7.2 16.6 (9.4)
Ophthalmic Systems 9,842 9,287 6.0 13.4 (7.4)
TOTAL $422,022 $401,621 5.1 9.8 (4.7)
BD DIAGNOSTICS
Preanalytical Systems $101,449 $97,785 3.7 8.2 (4.5)
Diagnostic Systems 99,717 118,809 (16.1) (11.6) (4.5)
TOTAL $201,166 $216,594 (7.1) (2.6) (4.5)
BD BIOSCIENCES
Discovery Labware $25,967 $25,722 1.0 7.2 (6.2)
Immunocytometry Systems 77,348 72,709 6.4 12.1 (5.7)
Pharmingen 21,270 18,718 13.6 20.9 (7.3)
TOTAL $124,585 $117,149 6.3 12.4 (6.1)
TOTAL INTERNATIONAL $747,773 $735,364 1.7 6.5 (4.8)
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
2006 2005 Reported FX Neutral FX Impact
BD MEDICAL
Medical Surgical
Systems $424,581 $402,292 5.5 6.4 (0.9)
Diabetes Care 188,294 162,196 16.1 17.8 (1.7)
Pharmaceutical
Systems 167,109 152,771 9.4 17.2 (7.8)
Ophthalmic Systems 15,354 14,406 6.6 11.4 (4.8)
TOTAL $795,338 $731,665 8.7 11.3 (2.6)
BD DIAGNOSTICS
Preanalytical
Systems $226,861 $204,835 10.8 12.9 (2.1)
Diagnostic Systems 207,218 224,934 (7.9) (5.5) (2.4)
TOTAL $434,079 $429,769 1.0 3.3 (2.3)
BD BIOSCIENCES
Discovery Labware $54,729 $52,411 4.4 7.5 (3.1)
Immunocytometry
Systems 123,574 113,760 8.6 12.3 (3.7)
Pharmingen 41,597 37,925 9.7 13.3 (3.6)
TOTAL $219,900 $204,096 7.7 11.2 (3.5)
TOTAL REVENUES $1,449,317 $1,365,530 6.1 8.8 (2.7)
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Six Months Ended March 31,
(Unaudited; Amounts in thousands)
United States
2006 2005 % Change
BD MEDICAL
Medical Surgical
Systems $442,316 $419,177 5.5
Diabetes Care 226,127 182,943 23.6
Pharmaceutical
Systems 60,428 46,821 29.1
Ophthalmic Systems 11,028 10,757 2.5
TOTAL $739,899 $659,698 12.2
BD DIAGNOSTICS
Preanalytical
Systems $248,201 $221,813 11.9
Diagnostic Systems 213,800 210,070 1.8
TOTAL $462,001 $431,883 7.0
BD BIOSCIENCES
Discovery Labware $56,462 $50,783 11.2
Immunocytometry
Systems 86,663 75,745 14.4
Pharmingen 37,504 36,116 3.8
TOTAL $180,629 $162,644 11.1
TOTAL UNITED STATES $1,382,529 $1,254,225 10.2
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
2006 2005 Reported FX Neutral FX Impact
BD MEDICAL
Medical Surgical
Systems $410,428 $392,679 4.5 5.0 (0.5)
Diabetes Care 145,863 137,931 5.8 8.9 (3.1)
Pharmaceutical
Systems 250,444 216,635 15.6 23.8 (8.2)
Ophthalmic Systems 19,404 18,544 4.6 10.6 (6.0)
TOTAL $826,139 $765,789 7.9 11.2 (3.3)
BD DIAGNOSTICS
Preanalytical
Systems $200,823 $191,543 4.8 7.9 (3.1)
Diagnostic Systems 215,109 220,126 (2.3) 2.1 (4.4)
TOTAL $415,932 $411,669 1.0 4.8 (3.8)
BD BIOSCIENCES
Discovery Labware $47,976 $48,591 (1.3) 3.8 (5.1)
Immunocytometry
Systems 149,763 138,115 8.4 13.3 (4.9)
Pharmingen 41,039 35,510 15.6 21.5 (5.9)
TOTAL $238,778 $222,216 7.5 12.5 (5.0)
TOTAL INTERNATIONAL $1,480,849 $1,399,674 5.8 9.5 (3.7)
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
2006 2005 Reported FX Neutral FX Impact
BD MEDICAL
Medical Surgical
Systems $852,744 $811,856 5.0 5.3 (0.3)
Diabetes Care 371,990 320,874 15.9 17.3 (1.4)
Pharmaceutical
Systems 310,872 263,456 18.0 24.7 (6.7)
Ophthalmic Systems 30,432 29,301 3.9 7.6 (3.7)
TOTAL $1,566,038 $1,425,487 9.9 11.6 (1.7)
BD DIAGNOSTICS
Preanalytical
Systems $449,024 $413,356 8.6 10.0 (1.4)
Diagnostic Systems 428,909 430,196 (0.3) 1.9 (2.2)
TOTAL $877,933 $843,552 4.1 5.9 (1.8)
BD BIOSCIENCES
Discovery Labware $104,438 $99,374 5.1 7.6 (2.5)
Immunocytometry
Systems 236,426 213,860 10.6 13.7 (3.1)
Pharmingen 78,543 71,626 9.7 12.6 (2.9)
TOTAL $419,407 $384,860 9.0 11.9 (2.9)
TOTAL REVENUES $2,863,378 $2,653,899 7.9 9.8 (1.9)
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