News & Events
BD Announces Results for Fourth Fiscal Quarter and Full Year
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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 (November 02, 2006) --
BD (Becton, Dickinson and Company) (NYSE: BDX) today reported record quarterly revenues of $1.488 billion for the fourth fiscal quarter ended September 30, 2006, representing an increase of 8 percent over the prior year period. This quarter's growth rate reflects the favorable impact on all segments from foreign currency translation, which overall is estimated to account for 2 percentage points of the growth. For the full fiscal year ended September 30, 2006, BD reported record revenues of $5.835 billion, representing an increase of 8 percent over the prior year, which reflects an overall estimated 1 percent unfavorable impact from foreign currency translation that affected all segments. "We are proud of our accomplishments during 2006 and enthusiastic about our outlook for 2007," said Edward J. Ludwig, Chairman, President and Chief Executive Officer. "Our revenue and earnings growth exceeded our expectations and give us continuing confidence that our strategy is sound and our implementation is disciplined. We remain committed to serving our customers with products that make a difference in healthcare, and we will continue to work diligently to deliver value to our shareholders." Analysis of Fourth Quarter and Full Fiscal Year 2006 and 2005 Earnings Reported diluted earnings per share from continuing operations of 69 cents for the fourth quarter increased by 47 percent over diluted earnings per share from continuing operations of 47 cents for the fourth fiscal quarter of 2005. For the full-year period, diluted earnings per share from continuing operations of $2.95 for fiscal 2006 increased by 11 percent over diluted earnings per share from continuing operations of $2.66 for fiscal 2005. The following analysis of diluted earnings per share from continuing operations for the three-month and twelve-month periods ended September 30, 2006 and 2005 identifies specified items that affect the comparability of results between periods. As illustrated in Table 1, diluted earnings per share from continuing operations, excluding specified items, of 85 cents for the fourth fiscal quarter of 2006 increased by 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-year period, diluted earnings per share from continuing operations, excluding specified items, of $3.28 for fiscal 2006 increased by 14 percent over diluted earnings per share from continuing operations, excluding specified items, of $2.88 for fiscal 2005. (Table 1) Three Months Ended Twelve Months Ended
September 30, September 30,
FY2006 FY2005 % Incr. FY2006 FY2005 % Incr.
Diluted EPS from Continuing
Operations:(1) $0.69 $0.47 47% $2.95 $2.66 11%
Specified Items:
Insurance Settlements(2) - - (0.04) -
In-Process Research and
Development Charge(3) - - 0.21 -
BGM Exit Costs(4) 0.17 - 0.17 -
Tax Examinations(5) - - - (0.04)
Tax Rate Impact(6) - 0.02 - -
Repatriation Tax Charge(7) - 0.27 - 0.27
Rounding (0.01) - (0.01) (0.01)
0.16 0.29 0.33 0.22
Diluted EPS from Continuing
Operations Excluding
Specified Items:(1) $0.85 $0.76 12% $3.28 $2.88 14%
(1) Includes the effect on diluted earnings per share from continuing
operations of a 3 cent reduction in the fourth quarter and a 6 cent
reduction in the twelve-month period ended September 30, 2006 relating
to GeneOhm Sciences operations, which were acquired in February 2006.
(2) Represents the effect on diluted earnings per share from continuing
operations 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 charge recorded in the fourth quarter of 2006
related to the Company's decision to exit the blood glucose monitoring
("BGM") market.
(5) Represents the effect on diluted earnings per share from continuing
operations of the reversal of tax reserves in 2005 in connection with
the conclusion of tax examinations in four non-U.S. jurisdictions.
(6) 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.
(7) Included in diluted earnings per share from continuing operations for
fiscal 2005 is a 27 cents per diluted share charge 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.
BGM Exit Costs On September 28, 2006, the Company announced a plan to exit the blood glucose monitoring ("BGM") market. As a result of this decision, the Company recorded a pre-tax charge of $63 million, or $0.17 per diluted share, in the fourth quarter of 2006. This charge consists of $5 million related to estimated customer returns, $46 million associated with the write-off of inventory, related purchase commitments and long-lived assets, and $12 million related to severance and other exit costs. Segment Results In the BD Medical segment, worldwide revenues for the quarter were $809 million, representing an increase of 6 percent from the prior year period. Strong sales in the Pharmaceutical Systems unit contributed to growth. U.S. sales of safety-engineered products totaled $132 million, compared with $130 million in the prior year's quarter. Included in BD Medical revenues for the quarter were international sales of safety-engineered products of $26 million, compared with $21 million in the prior year period. For the full fiscal year ended September 30, 2006, total BD Medical segment revenues of $3.203 billion increased by 8 percent from the prior year. Strong sales in the Pharmaceutical Systems and Diabetes Care units contributed to growth. U.S. sales of safety-engineered products totaled $519 million, compared with $490 million in the prior year. International sales of safety-engineered products totaled $94 million, compared with $81 million in the prior year. In the BD Diagnostics segment, worldwide revenues for the quarter were $441 million, representing an increase of 9 percent from the prior year period. U.S. sales of safety-engineered products totaled $103 million, compared with $94 million in the prior year's quarter. International sales of safety-engineered products totaled $62 million, compared with $49 million in the prior year's quarter. Global sales of the BD ProbeTec™ and BD Viper™ instrument platforms also contributed favorably to revenue growth. For the full fiscal year ended September 30, 2006, total BD Diagnostics segment revenues of $1.755 billion increased by 6 percent from the prior year. U.S. sales of safety-engineered products totaled $398 million, compared with $352 million in the prior year. International sales of safety-engineered products totaled $229 million, compared with $192 million in the prior year. In the BD Biosciences segment, worldwide revenues from continuing operations for the quarter were $238 million, representing an increase of 11 percent from the prior year period. Sales of flow cytometry instruments and reagents, as well as the comparative benefit of discontinuing a distribution agreement in 2005, contributed to revenue growth. For the full fiscal year ended September 30, 2006, total BD Biosciences segment revenues of $877 million increased by 10 percent from the prior year. Sales of flow cytometry instruments and reagents, as well as cell imaging products, contributed to revenue growth. Geographic Results Fourth quarter revenues in the U.S. were $726 million, representing an increase of 6 percent over the prior year period. Revenues outside the U.S. were $761 million, representing an increase of 10 percent over the prior year period, and reflected an estimated 3 percent favorable impact from foreign currency translation. For the full fiscal year ended September 30, 2006, revenues in the U.S. were $2.828 billion, representing an increase of 9 percent over the prior year period. Revenues outside of the U.S. were $3.007 billion, representing an increase of 6 percent over the prior year period, and reflected an estimated 2 percent unfavorable impact from foreign currency translation. Planned Acquisition of TriPath Imaging On September 8, 2006 the Company announced that it had signed a definitive agreement to acquire the 93.5% of the outstanding shares of TriPath Imaging that BD does not currently own. The acquisition expands BD's presence in cancer diagnostics, which is a key element of the Company's strategy to drive revenue growth through innovation. We received U.S. antitrust clearance for this acquisition on October 27, 2006. Following the requisite approval by the TriPath Imaging shareholders, as well as other customary closing conditions, the acquisition is expected to be completed by the end of BD's first fiscal quarter 2007. As previously stated, the acquisition is expected to be minimally dilutive to BD's fiscal 2007 earnings (excluding an anticipated charge for in-process research and development) and is included in our estimated guidance discussed below. Fiscal 2007 Outlook for Full Year The following analysis of estimated diluted earnings per share from continuing operations for the full fiscal year identifies specified items that affect the comparability of results between periods. As illustrated in Table 2, the Company estimates that diluted earnings per share from continuing operations for the full fiscal year 2007 will be in the $3.69 to $3.75 range, representing an increase of approximately 12 to 14 percent over diluted earnings per share from continuing operations, excluding specified items, of $3.28 for the fiscal year 2006. (Table 2) Twelve Months Ended
September 30,
FY2007 FY2006 % Incr.
(Estimated)
Diluted EPS from Continuing
Operations:(1) $3.69-$3.75 $2.95 25%-27%
Specified Items:
Insurance Settlements(2) - (0.04)
In-Process Research and
Development Charge(3) - 0.21
BGM Exit Costs(4) - 0.17
Rounding (0.01)
- 0.33
Diluted EPS from Continuing
Operations Excluding
Specified Items: $3.69-$3.75 $3.28 12%-14%
(1) Includes the minimally dilutive effect on estimated diluted earnings
per share from continuing operations in fiscal 2007 relating to the
operations of TriPath Imaging, which the Company expects to acquire by
the end of the first fiscal quarter 2007. Does not include
anticipated in-process research and development charge, which would be
recorded upon closing of the acquisition.
(2) Represents the effect on diluted earnings per share from continuing
operations 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 charge recorded in the fourth fiscal quarter of 2006
related to the Company's decision to exit the BGM market.
Conference Call Information A conference call regarding BD's fourth fiscal quarter and full year results and its expectations for fiscal year 2007 will be broadcast live on BD's website, http://www.bd.com/investors, at 10:00 a.m. (ET) Thursday, November 2, 2006. The conference call will be available for replay through the close of business on November 9, 2006 on BD's website, http://www.bd.com/investors, or at 1-888-203-1112 (domestic) and 1-719-457-0820 (international), pass code 4839685. 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 manufactures and sells medical devices, instrument 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 http://www.bd.com.
This press release, including the section entitled "Fiscal 2007 Outlook for Full Year," contains certain estimates and other forward-looking statements (as defined under Federal securities laws) regarding BD's performance, including future revenues, 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 September 30,
2006 2005 % Change
REVENUES $1,487,751 $1,379,476 7.8
Cost of products sold 767,534 662,746 15.8
Selling and administrative 406,059 376,510 7.8
Research and development 83,620 76,552 9.2
TOTAL OPERATING COSTS AND EXPENSES 1,257,213 1,115,808 12.7
OPERATING INCOME 230,538 263,668 (12.6)
Interest expense (14,056) (14,607) (3.8)
Interest income 15,488 12,594 23.0
Other expense, net (4,762) (977) NM
INCOME FROM CONTINUING OPERATIONS BEFORE
INCOME TAXES 227,208 260,678 (12.8)
Income tax provision 52,088 139,103 (62.6)
INCOME FROM CONTINUING OPERATIONS 175,120 121,575 44.0
(LOSS) INCOME FROM DISCONTINUED OPERATIONS
NET OF INCOME TAX PROVISION OF $67 AND
$15,986, RESPECTIVELY (1,141)(1) 27,519 NM
NET INCOME $ 173,979 $ 149,094 16.7
EARNINGS PER SHARE
Basic:
Income from continuing operations $ 0.71 $ 0.49 44.9
(Loss) income from discontinued
operations $ - $ 0.11 NM
Net income $ 0.71 $ 0.60 18.3
Diluted:
Income from continuing operations $ 0.69 $ 0.47 46.8
(Loss) income from discontinued
operations $ - $ 0.11 NM
Net income (2) $ 0.68 $ 0.58 17.2
AVERAGE SHARES OUTSTANDING
Basic 245,522 249,236
Diluted 254,843 256,878
NM - Not Meaningful
(1) Represents certain adjustments relating to the divestiture of
Clontech.
(2) Total per share amounts may not add due to rounding.
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL INFORMATION
Three Months Ended September 30,
(Unaudited; Amounts in thousands, except per-share data)
2006
As BGM Excluding
Reported Exit Costs (1) Items
Revenues $1,487,751 $ 5,352 (2) $1,493,103
Cost of product sold 767,534 (45,654) 721,880
as a % of revenues 51.6% 48.3%
Gross Profit 720,217 51,006 771,223
as a % of revenues 48.4% 51.7%
Selling and administrative 406,059 (12,408) 393,651
as a % of revenues 27.3% 26.4%
Operating Income 230,538 63,414 293,952
as a % of revenues 15.5% 19.7%
Income taxes 52,088 20,974 73,062
effective tax rate 22.9% 25.1%
Income from continuing
operations 175,120 42,440 217,560
as a % of revenues 11.8% 14.6%
Diluted earnings per share
Income from continuing
operations (3) $ 0.69 $ 0.17 $ 0.85
(1) Represents the effect on the diluted earnings per share from
continuing operations of the charge recorded in the fourth quarter of
2006 related to the Company's decision to exit the blood glucose
monitoring (BGM) market.
(2) Reflected in the US Diabetes Care revenues included within the US BD
Medical Segment (see pages 10 and 14 for further information).
(3) Total per share amounts may not add due to rounding.
2005
As Tax Repatriation Excluding
Reported Rate Impact(4) Tax Charge(5) Items
Income taxes $139,103 $(4,181) $(69,638) $ 65,284
effective tax rate 53.4% 25.0%
Income from
continuing
operations 121,575 4,181 69,638 195,394
as a % of revenues 8.8% 14.2%
Diluted earnings per share
Income from
continuing
operations $ 0.47 $ 0.02 $ 0.27 $ 0.76
(4) 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.
(5) Relates substantially to the planned repatriation of $1.3 billion of
foreign earnings under the provisions of the American Jobs Creation
Act.
BECTON DICKINSON AND COMPANY
CONSOLIDATED INCOME STATEMENTS
(Unaudited; Amounts in thousands, except per-share data)
Twelve Months Ended September 30,
2006 2005 % Change
REVENUES $5,834,827 $5,414,681 7.8
Cost of products sold 2,886,853 2,662,029 8.4
Selling and administrative 1,537,494 1,449,856 6.0
Research and development 360,011 271,626 32.5
TOTAL OPERATING COSTS
AND EXPENSES 4,784,358 4,383,511 9.1
OPERATING INCOME 1,050,469 1,031,170 1.9
Interest expense (66,046) (55,673) 18.6
Interest income 59,296 36,421 62.8
Other expense, net (8,762) (7,064) 24.0
INCOME FROM CONTINUING
OPERATIONS BEFORE INCOME TAXES 1,034,957 1,004,854 3.0
Income tax provision 279,366 312,571 (10.6)
INCOME FROM CONTINUING OPERATIONS 755,591 692,283 9.1
(LOSS) INCOME FROM DISCONTINUED
OPERATIONS NET OF INCOME
TAX PROVISION OF $1,397 AND
$14,439, RESPECTIVELY (3,311)(1) 29,980 NM
NET INCOME $ 752,280 $ 722,263 4.2
EARNINGS PER SHARE
Basic:
Income from continuing
operations $ 3.06 $ 2.75 11.3
(Loss) income from discontinued
operations $ (0.01) $ 0.12 NM
Net income (2) $ 3.04 $ 2.87 5.9
Diluted:
Income from continuing
operations $ 2.95 $ 2.66 10.9
(Loss) income from discontinued
operations $ (0.01) $ 0.11 NM
Net income (2) $ 2.93 $ 2.77 5.8
AVERAGE SHARES OUTSTANDING
Basic 247,067 251,429
Diluted 256,554 260,712
NM - Not Meaningful
(1) Represents certain adjustments relating to the divestiture of
Clontech.
(2) Total per share amounts may not add due to rounding.
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL INFORMATION
Twelve Months Ended September 30,
(Unaudited; Amounts in thousands, except per-share data)
2006
As Insurance GeneOhm BGM Exit Excluding
Reported Settlement (1) R&D (2) Costs (3) Items
Revenues $5,834,827 $ - $ - $ 5,352 (4)$5,840,179
Cost of
products sold 2,886,853 - - (45,654) 2,841,199
as a % of
revenues 49.5% 48.6%
Gross Profit 2,947,974 - - 51,006 2,998,980
as a % of
revenues 50.5% 51.4%
Selling and
administrative 1,537,494 17,000 - (12,408) 1,542,086
as a % of
revenues 26.4% 26.4%
Research and
development 360,011 - (53,300) - 306,711
as a % of revenues 6.2% 5.3%
Operating
Income 1,050,469 (17,000) 53,300 63,414 1,150,183
as a % of
revenues 18.0% 19.7%
Income taxes 279,366 (6,460) - 20,974 293,880
effective
tax rate 27.0% 25.9%
Income from
continuing
operations 755,591 (10,540) 53,300 42,440 840,791
as a % of revenues 12.9% 14.4%
Diluted earnings
per share
Income from
continuing
operations (5) $ 2.95 $ (0.04) $ 0.21 $ 0.17 $ 3.28
(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 IPR&D charge related to the GeneOhm acquisition.
(3) Represents the effect on the diluted earnings per share from
continuing operations of the charge recorded in the fourth quarter of
2006 related to the Company's decision to exit the BGM market.
(4) Reflected in the US Diabetes Care revenues included within the US BD
Medical Segment (see pages 10 and 14 for further information).
(5) Total per share amounts may not add due to rounding.
2005
As Tax Repatriation Excluding
Reported Examinations (6) Tax Charge (7) Charges
Income taxes $312,571 $ 11,265 $(69,638) $254,198
effective tax rate 31.1% 25.3%
Income from
continuing
operations 692,283 (11,265) 69,638 750,656
as a % of revenues 12.8% 13.9%
Diluted earnings
per share
Income from
continuing
operations (8) $ 2.66 $ (0.04) $ 0.27 $ 2.88
(6) Relates to the reversal of tax reserves in the first quarter 2005 in
connection with the conclusion of tax examinations in four non-U.S.
jurisdictions.
(7) Relates substantially to the planned repatriation of $1.3 billion of
foreign earnings under the provisions of the American Job Creation
Act.
(8) Total per share amounts may not add due to rounding.
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY SEGMENT AND GEOGRAPHIC AREA
(Unaudited; Amounts in thousands)
Three Months Ended September 30,
2006 2005 % Change
BD MEDICAL
United States $ 383,827 $ 368,752 4.1
International 425,122 393,631 8.0
TOTAL $ 808,949 $ 762,383 6.1
BD DIAGNOSTICS
United States $ 237,775 $ 218,768 8.7
International 202,745 184,001 10.2
TOTAL $ 440,520 $ 402,769 9.4
BD BIOSCIENCES
United States $ 104,887 $ 99,623 5.3
International 133,395 114,701 16.3
TOTAL $ 238,282 $ 214,324 11.2
TOTAL REVENUES
United States $ 726,489 $ 687,143 5.7
International 761,262 692,333 10.0
TOTAL $1,487,751 $1,379,476 7.8
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY SEGMENT AND GEOGRAPHIC AREA
(Unaudited; Amounts in thousands)
Twelve Months Ended September 30,
2006 2005 % Change
BD MEDICAL
United States $1,506,756 $1,366,688 10.2
International 1,696,700 1,591,400 6.6
TOTAL $3,203,456 $2,958,088 8.3
BD DIAGNOSTICS
United States $ 937,593 $ 869,187 7.9
International 817,273 787,877 3.7
TOTAL $1,754,866 $1,657,064 5.9
BD BIOSCIENCES
United States $ 383,674 $ 355,076 8.1
International 492,831 444,453 10.9
TOTAL $ 876,505 $ 799,529 9.6
TOTAL REVENUES
United States $2,828,023 $2,590,951 9.1
International 3,006,804 2,823,730 6.5
TOTAL $5,834,827 $5,414,681 7.8
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Three Months Ended September 30,
(Unaudited; Amounts in thousands)
United States
2006 2005 % Change
BD MEDICAL
Medical Surgical Systems $231,932 $224,809 3.2
Diabetes Care 113,418 111,160 2.0
Pharmaceutical Systems 32,856 27,273 20.5
Ophthalmic Systems 5,621 5,510 2.0
TOTAL $383,827 $368,752 4.1
BD DIAGNOSTICS
Preanalytical Systems $131,838 $120,843 9.1
Diagnostic Systems 105,937 97,925 8.2
TOTAL $237,775 $218,768 8.7
BD BIOSCIENCES
Discovery Labware $ 31,945 $ 30,262 5.6
Immunocytometry Systems 52,679 50,242 4.9
Pharmingen 20,263 19,119 6.0
TOTAL $104,887 $ 99,623 5.3
TOTAL UNITED STATES $726,489 $687,143 5.7
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Three Months Ended September 30, (continued)
(Unaudited; Amounts in thousands)
International
% Change FX
2006 2005 Reported FX Neutral Impact
BD MEDICAL
Medical Surgical Systems $215,951 $203,991 5.9 3.0 2.9
Diabetes Care 77,843 70,671 10.1 7.0 3.1
Pharmaceutical Systems 121,886 109,505 11.3 7.9 3.4
Ophthalmic Systems 9,442 9,464 (0.2) (3.2) 3.0
TOTAL $425,122 $393,631 8.0 4.9 3.1
BD DIAGNOSTICS
Preanalytical Systems $107,399 $ 97,806 9.8 6.3 3.5
Diagnostic Systems 95,346 86,195 10.6 8.0 2.6
TOTAL $202,745 $184,001 10.2 7.1 3.1
BD BIOSCIENCES
Discovery Labware $ 24,379 $ 23,835 2.3 0.2 2.1
Immunocytometry Systems 89,768 77,428 15.9 13.1 2.8
Pharmingen 19,248 13,438 43.2 39.5 3.7
TOTAL $133,395 $114,701 16.3 13.5 2.8
TOTAL INTERNATIONAL $761,262 $692,333 10.0 6.9 3.1
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Three Months Ended September 30, (continued)
(Unaudited; Amounts in thousands)
Total
% Change FX
2006 2005 Reported FX Neutral Impact
BD MEDICAL
Medical Surgical Systems $ 447,883 $ 428,800 4.5 3.1 1.4
Diabetes Care 191,261 181,831 5.2 4.0 1.2
Pharmaceutical Systems 154,742 136,778 13.1 10.4 2.7
Ophthalmic Systems 15,063 14,974 0.6 (1.3) 1.9
TOTAL $ 808,949 $ 762,383 6.1 4.5 1.6
BD DIAGNOSTICS
Preanalytical Systems $ 239,237 $ 218,649 9.4 7.8 1.6
Diagnostic Systems 201,283 184,120 9.3 8.1 1.2
TOTAL $ 440,520 $ 402,769 9.4 8.0 1.4
BD BIOSCIENCES
Discovery Labware $ 56,324 $ 54,097 4.1 3.2 0.9
Immunocytometry Systems 142,447 127,670 11.6 9.9 1.7
Pharmingen 39,511 32,557 21.4 19.8 1.6
TOTAL $ 238,282 $ 214,324 11.2 9.7 1.5
TOTAL REVENUES $1,487,751 $1,379,476 7.8 6.3 1.5
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
Three Months Ended September 30,
(Unaudited; Amounts in thousands)
Reported
% Change FX
2006 2005 Reported FX Neutral Impact
Total Revenues $1,487,751 $1,379,476 7.8 6.3 1.5
BD Medical 808,949 762,383 6.1 4.5 1.6
Diabetes Care 191,261 181,831 5.2 4.0 1.2
US Total Revenues $ 726,489 $ 687,143 5.7 5.7 -
US BD Medical 383,827 368,752 4.1 4.1 -
US Diabetes Care 113,418 111,160 2.0 2.0 -
Excluding BGM Exit Costs
% Change FX
2006 (1) 2005 Reported FX Neutral Impact
Total Revenues $1,493,103 $1,379,476 8.2 6.7 1.5
BD Medical 814,301 762,383 6.8 5.2 1.6
Diabetes Care 196,613 181,831 8.1 6.9 1.2
US Total Revenues $ 731,841 $ 687,143 6.5 6.5 -
US BD Medical 389,179 368,752 5.5 5.5 -
US Diabetes Care 118,770 111,160 6.8 6.8 -
(1) All revenue data excludes $5,352 of estimated customer returns
associated with the Company's decision to exit the BGM market.
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Twelve Months Ended September 30,
(Unaudited; Amounts in thousands)
United States
2006 2005 % Change
BD MEDICAL
Medical Surgical Systems $ 904,371 $ 852,804 6.0
Diabetes Care 451,977 391,109 15.6
Pharmaceutical Systems 127,896 101,128 26.5
Ophthalmic Systems 22,512 21,647 4.0
TOTAL $1,506,756 $1,366,688 10.2
BD DIAGNOSTICS
Preanalytical Systems $ 511,948 $ 462,939 10.6
Diagnostic Systems 425,645 406,248 4.8
TOTAL $ 937,593 $ 869,187 7.9
BD BIOSCIENCES
Discovery Labware $ 119,683 $ 110,419 8.4
Immunocytometry Systems 186,369 169,895 9.7
Pharmingen 77,622 74,762 3.8
TOTAL $ 383,674 $ 355,076 8.1
TOTAL UNITED STATES $2,828,023 $2,590,951 9.1
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Twelve Months Ended September 30, (continued)
(Unaudited; Amounts in thousands)
International
% Change
2006 2005 Reported FX Neutral FX Impact
BD MEDICAL
Medical Surgical
Systems $ 844,372 $ 808,346 4.5 3.8 0.7
Diabetes Care 301,366 282,911 6.5 7.5 (1.0)
Pharmaceutical
Systems 511,798 462,143 10.7 14.8 (4.1)
Ophthalmic
Systems 39,164 38,000 3.1 6.0 (2.9)
TOTAL $1,696,700 $1,591,400 6.6 7.7 (1.1)
BD DIAGNOSTICS
Preanalytical
Systems $ 415,811 $ 391,892 6.1 6.9 (0.8)
Diagnostic
Systems 401,462 395,985 1.4 3.6 (2.2)
TOTAL $ 817,273 $ 787,877 3.7 5.3 (1.6)
BD BIOSCIENCES
Discovery
Labware $ 96,626 $ 96,142 0.5 3.1 (2.6)
Immunocytometry
Systems 316,478 282,488 12.0 14.0 (2.0)
Pharmingen 79,727 65,823 21.1 24.2 (3.1)
TOTAL $ 492,831 $ 444,453 10.9 13.2 (2.3)
TOTAL
INTERNATIONAL $3,006,804 $2,823,730 6.5 7.9 (1.4)
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Twelve Months Ended September 30, (continued)
(Unaudited; Amounts in thousands)
Total
% Change
2006 2005 Reported FX Neutral FX Impact
BD MEDICAL
Medical
Surgical
Systems $1,748,743 $1,661,150 5.3 5.0 0.3
Diabetes Care 753,343 674,020 11.8 12.2 (0.4)
Pharmaceutical
Systems 639,694 563,271 13.6 16.9 (3.3)
Ophthalmic
Systems 61,676 59,647 3.4 5.3 (1.9)
TOTAL $3,203,456 $2,958,088 8.3 8.9 (0.6)
BD DIAGNOSTICS
Preanalytical
Systems $ 927,759 $ 854,831 8.5 8.9 (0.4)
Diagnostic
Systems 827,107 802,233 3.1 4.2 (1.1)
TOTAL $1,754,866 $1,657,064 5.9 6.6 (0.7)
BD BIOSCIENCES
Discovery
Labware $ 216,309 $ 206,561 4.7 5.9 (1.2)
Immunocytometry
Systems 502,847 452,383 11.2 12.4 (1.2)
Pharmingen 157,349 140,585 11.9 13.4 (1.5)
TOTAL $ 876,505 $ 799,529 9.6 10.9 (1.3)
TOTAL REVENUES $5,834,827 $5,414,681 7.8 8.5 (0.7)
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
Twelve Months Ended September 30,
(Unaudited; Amounts in thousands)
Reported
% Change
2006 2005 Reported FX Neutral FX Impact
Total Revenues $5,834,827 $5,414,681 7.8 8.5 (0.7)
BD Medical 3,203,456 2,958,088 8.3 8.9 (0.6)
Diabetes Care 753,343 674,020 11.8 12.2 (0.4)
US Total
Revenues $2,828,023 $2,590,951 9.1 9.1 -
US BD Medical 1,506,756 1,366,688 10.2 10.2 -
US Diabetes Care 451,977 391,109 15.6 15.6 -
Excluding BGM Exit Costs
% Change
2006 (1) 2005 Reported FX Neutral FX Impact
Total Revenues $5,840,179 $5,414,681 7.9 8.6 (0.7)
BD Medical 3,208,808 2,958,088 8.5 9.1 (0.6)
Diabetes Care 758,695 674,020 12.6 13.0 (0.4)
US Total
Revenues $2,833,375 $2,590,951 9.4 9.4 -
US BD
Medical 1,512,108 1,366,688 10.6 10.6 -
US Diabetes
Care 457,329 391,109 16.9 16.9 -
(1) All revenue data excludes $5,352 of estimated customer returns
associated with the Company's decision to exit the BGM market.
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