BECTON DICKINSON & CO - FORM 8-K - EX-99.1

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1 Becton Drive
Franklin Lakes, NJ 07417
www.bd.com

News Release

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

BD ANNOUNCES RESULTS FOR 2011 SECOND FISCAL QUARTER

Franklin Lakes, NJ (April 26, 2011) — BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, today reported quarterly revenues of $1.922 billion for the second fiscal quarter ended March 31, 2011, representing an increase of 6.8 percent from the prior-year period. On a foreign currency-neutral basis, revenue increased 4.6 percent, despite an unfavorable comparison to the prior year of about 2.3 percentage points due to strong sales related to the H1N1 flu pandemic, supplemental spending in Japan and stimulus spending in the U.S. in fiscal year 2010.

“We are pleased with our solid results this quarter, which were in line with our expectations,” said Edward J. Ludwig, Chairman and Chief Executive Officer. “We continued the increased pace of our R&D spending and made strategic investments, such as our acquisition of Accuri Cytometers, demonstrating our commitment to driving revenue growth through innovation.”

Update on Impact of Japan Earthquake and Tsunami

Order volumes for BD products in Japan have now returned to normal levels. The Company’s manufacturing plant in Fukushima sustained some earthquake-related damage, but the prepared plated media manufacturing lines were recently restarted, and manufacturing of BD Hypak^TM Prefillable Syringes is expected to resume during the third fiscal quarter 2011. BD’s Fukushima distribution center and an additional distribution center near Tokyo are in operation. The unfavorable impact of these events on the Company’s revenues in the second fiscal quarter was less than $10 million. For the full fiscal year 2011, the Company anticipates these events to have an aggregate unfavorable impact of $10 to $20 million on revenues, or about $0.05 per share, which has been incorporated into its fiscal year 2011 guidance.

Update on the Acquisition of Accuri Cytometers, Inc.

As announced in March 2011, the Company completed the acquisition of Accuri Cytometers, Inc., an Ann Arbor, Michigan-based company that develops and manufactures personal flow cytometers for researchers. The financial impact of the acquisition on fiscal year 2011 earnings has been incorporated into the Company’s previously disclosed guidance.

Second Quarter and Six-Month Fiscal 2011 Operating Results

Reported diluted earnings per share for the second quarter were $1.38, compared with $1.18 in the prior-year period, representing a 16.9 percent increase. The prior-year period included a non-cash charge of $8.9 million, or $0.04 per share, related to healthcare reform impacting Medicare Part D reimbursements. Excluding that item, earnings per share from continuing operations increased by 13.1 percent, compared with adjusted diluted earnings per share from continuing operations of $1.22 in the prior-year period, or 7.4 percent on a currency-neutral basis.

For the six-month period ending March 31, 2011, reported diluted earnings per share from continuing operations were $2.72, compared with $2.43 in the prior-year period. Excluding the aforementioned charge, diluted earnings per share from continuing operations increased by 10.1 percent, compared with adjusted diluted earnings per share of $2.47 in the prior-year period, or 5.3 percent on a currency-neutral basis.

Segment Results

In the BD Medical segment, worldwide revenues for the quarter were $981 million, representing an increase of 6.5 percent compared with the prior-year period, or 4.9 percent on a foreign currency-neutral basis. Revenues reflected strong sales of Diabetes Care and Pharmaceutical Systems products. The segment’s revenues also reflected an unfavorable comparison to the prior year of about 1.6 percentage points due to strong sales related to the H1N1 flu pandemic in fiscal year 2010. For the six-month period ended March 31, 2011, BD Medical revenues increased 0.8 percent, or 0.1 percent on a foreign currency-neutral basis.

In the BD Diagnostics segment, worldwide revenues for the quarter were $605 million, representing an increase of 8.9 percent compared with the prior-year period, or 6.5 percent on a foreign currency-neutral basis. Revenues reflected solid growth in Preanalytical Systems safety-engineered products and strong growth in Diagnostic Systems infectious disease platforms. For the six-month period ended March 31, 2011, BD Diagnostics revenues increased 4.9 percent, or 3.6 percent on a foreign currency-neutral basis.

In the BD Biosciences segment, worldwide revenues for the quarter were $335 million, representing an increase of 4.1 percent compared with the prior-year period, or 0.4 percent on a foreign currency-neutral basis. Segment revenue growth was negatively impacted by about 12 percentage points due to certain factors. About 8 percentage points of the impact was due to an unfavorable comparison resulting from strong sales related to supplemental spending in Japan and stimulus spending in the U.S. in fiscal year 2010, and about 3 percentage points resulted from the effects of the earthquake and tsunami in Japan. Segment growth was driven primarily by instrument and reagent sales in the Cell Analysis unit. Discovery Labware revenues in the U.S. were negatively impacted by weakness in core consumables due to lower pharmaceutical spending and academic sector sales. For the six-month

period ended March 31, 2011, BD Biosciences revenues increased by 3.9 percent, or 1.9 percent on a foreign currency-neutral basis.

Geographic Results

Second quarter revenues in the U.S. were $829 million, representing an increase of 4.7 percent compared with the prior-year period. Revenues outside of the U.S. were $1.093 billion, representing an increase of 8.5 percent compared with the prior-year period, or 4.6 percent on a foreign currency-neutral basis. Revenues reflected continued strength in emerging markets, which was partially offset by weakened demand in Western Europe due to challenging macroeconomic conditions. For the six-month period ended March 31, 2011, revenues in the U.S. were $1.658 billion, representing an increase of 0.8 percent compared with the prior-year period. Revenues outside of the U.S. were $2.106 billion, representing an increase of 4.1 percent compared with the prior-year period, or 2.1 percent on a foreign currency-neutral basis.

Fiscal Year 2011 Outlook

The Company is raising its reported revenue guidance for the full fiscal year 2011 to an increase of approximately 5 to 6 percent compared with fiscal year 2010, due to an expected favorable currency impact. On a foreign currency-neutral basis, the Company is lowering its revenue guidance to an increase of about 3.5 percent versus its previous guidance of about 4 percent, mainly due to lower than expected sales in Western Europe.

The Company is raising its previous guidance for reported diluted earnings per share from continuing operations for fiscal year 2011 by about $0.10 per share to a range of $5.55 to $5.65, an increase of approximately 13 to 15 percent over fiscal year 2010. This revised guidance reflects the anticipated effects of favorable currency and operating efficiencies, partially offset by higher resin costs and the negative impact of the Japan earthquake and tsunami. Diluted earnings per share from continuing operations for fiscal year 2011 are expected to increase 12 to 14 percent over adjusted diluted earnings per share from continuing operations of $4.94, excluding the specified item, for fiscal year 2010. The specified item represents the aforementioned 2010 non-cash charge of $0.04 per share related to healthcare reform. On a currency-neutral basis, the Company expects diluted earnings per share from continuing operations to increase about 10 percent over adjusted diluted earnings per share in the prior-year period.

Conference Call Information

A conference call regarding BD’s second quarter results and its expectations for the full fiscal year 2011 will be broadcast live on BD’s website, www.bd.com/investors, along with related slides, at 10:00 a.m. (ET) Wednesday, April 27, 2011. The slides are available concurrent with the issuance of this press release at www.bd.com/investors. The conference call will be available for replay on BD’s website, www.bd.com/investors, or at 1-800-642-1687 (domestic) and 1-706-645-9291 (international) through the close of business on Wednesday, May 4, 2011, access code 59468691.

Non-GAAP Financial Measures

This news release contains certain non-GAAP financial measures. Reconciliations of these and other non-GAAP measures to the comparable GAAP measures are included in the attached financial tables.

About BD

BD is a leading global medical technology company that develops, manufactures and sells medical devices, instrument systems and reagents. The Company is dedicated to improving people’s health throughout the world. BD is focused on improving drug delivery, enhancing the quality and speed of diagnosing infectious diseases and cancers, and advancing research, discovery and production of new drugs and vaccines. BD’s capabilities are instrumental in combating many of the world’s most pressing diseases. Founded in 1897 and headquartered in Franklin Lakes, New Jersey, BD employs approximately 29,000 associates in more than 50 countries throughout the world. The Company serves healthcare institutions, life science researchers, clinical laboratories, the pharmaceutical industry and the general public. For more information, please visit www.bd.com.

***

This press release, including the section entitled “Fiscal Year 2011 Outlook”, contains certain estimates and other forward-looking statements (as defined under Federal securities laws) regarding BD’s performance, including future revenues and earnings per share. Forward-looking statements may be identified by the use of words such as “expect”, “estimate” or words of similar meaning in conjunction with statements of future performance. All such statements are based upon current expectations of BD and involve a number of business risks and uncertainties. Actual results could vary materially from anticipated results described, implied or projected in any forward-looking statement. With respect to forward-looking statements contained herein, a number of factors could cause actual results to vary materially from any forward-looking statement. These factors include, but are not limited to: the potential adverse effects that the earthquake and tsunami in Japan and the situation regarding the Fukushima, Japan nuclear power plant may have on BD’s future operations in Japan; the unknown consequences of the recently-enacted healthcare reform in the United States, including the impact of the reduction in Medicare and Medicaid payments to hospitals, pharmaceutical companies and other customers, which could reduce demand for BD’s products and increase downward pricing pressure; adverse changes in regional, national or foreign economic conditions, including any impact that may result from the current global economic situation on BD’s ability to access credit markets and finance its operations, the demand for BD’s products and services, or its suppliers’ ability to provide products needed for BD’s operations; changes in interest or foreign currency exchange rates; competitive factors; pricing and market share pressures; difficulties inherent in product development and delays in product introductions; increases in energy costs and their effect on, among other things, the cost of producing BD’s products; fluctuations in costs and availability of raw materials and in BD’s ability to maintain favorable supplier arrangements and relationships; new or changing laws impacting BD’s business or changes in enforcement practices with respect to such laws; uncertainties of litigation (as described in BD’s filings with the Securities and Exchange Commission); future healthcare reform, including changes in government pricing and reimbursement policies or other cost containment reforms; the effects of potential pandemic diseases; BD’s ability to successfully integrate any businesses it acquires; and issuance of new or revised accounting standards, as well as other factors discussed in BD’s filings with the Securities and Exchange Commission. BD does not intend to update any forward-looking statements to reflect events or circumstances after the date hereof except as required by applicable laws or regulations.

BECTON DICKINSON AND COMPANY
CONSOLIDATED INCOME STATEMENTS
(Unaudited; Amounts in thousands, except per share data)


	Three Months Ended March 31,
	2011			2010			% Change

REVENUES	$	1,922,023		$	1,799,409			6.8

Cost of products sold		920,589			864,492			6.5
Selling and administrative		441,942			421,076			5.0
Research and development		119,152			100,193			18.9

TOTAL OPERATING COSTS AND EXPENSES		1,481,683			1,385,761			6.9


OPERATING INCOME		440,340			413,648			6.5

Interest income		14,564			9,652			50.9
Interest expense		(23,921	)		(12,913	)		85.2
Other (expense) income, net		(2,522	)		164		NM


INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		428,461			410,551			4.4

Income tax provision		117,399			125,517			(6.5	)


INCOME FROM CONTINUING OPERATIONS		311,062			285,034			9.1

INCOME FROM DISCONTINUED OPERATIONS NET OF INCOME TAX PROVISION OF $377 AND $4,101, RESPECTIVELY		957			12,597			(92.4	)


NET INCOME	$	312,019		$	297,631			4.8


EARNINGS PER SHARE

Basic:
Income from continuing operations	$	1.41		$	1.21			16.5
Income from discontinued operations	$	—		$	0.05		NM
Net income	$	1.41		$	1.26			11.9

Diluted:
Income from continuing operations	$	1.38		$	1.18			16.9
Income from discontinued operations	$	—		$	0.05		NM
Net income (1)	$	1.38		$	1.24			11.3

AVERAGE SHARES OUTSTANDING

Basic		220,894			235,325
Diluted		225,467			240,863


NM — Not Meaningful

(1)		Total per share amounts may not add due to rounding

Page 1

BECTON DICKINSON AND COMPANY
CONSOLIDATED INCOME STATEMENTS
(Unaudited; Amounts in thousands, except per share data)


	Six Months Ended March 31,
	2011			2010			% Change

REVENUES	$	3,764,028		$	3,668,227			2.6

Cost of products sold		1,786,020			1,758,816			1.5
Selling and administrative		889,897			866,749			2.7
Research and development		234,693			199,344			17.7

TOTAL OPERATING COSTS AND EXPENSES		2,910,610			2,824,909			3.0


OPERATING INCOME		853,418			843,318			1.2

Interest income		29,786			18,441			61.5
Interest expense		(39,474	)		(25,900	)		52.4
Other expense, net		(7,118	)		(2,190	)	NM


INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		836,612			833,669			0.4

Income tax provision		211,273			244,542			(13.6	)


INCOME FROM CONTINUING OPERATIONS		625,339			589,127			6.1

INCOME FROM DISCONTINUED OPERATIONS NET OF INCOME TAX PROVISION OF $601 AND $8,718, RESPECTIVELY		2,617			24,880			(89.5	)


NET INCOME	$	627,956		$	614,007			2.3


EARNINGS PER SHARE

Basic:
Income from continuing operations	$	2.79		$	2.49			12.0
Income from discontinued operations	$	0.01		$	0.11			(90.9	)
Net income	$	2.80		$	2.60			7.7

Diluted:
Income from continuing operations	$	2.72		$	2.43			11.9
Income from discontinued operations	$	0.01		$	0.10			(90.0	)
Net income (1)	$	2.74		$	2.53			8.3

AVERAGE SHARES OUTSTANDING

Basic		224,528			236,353
Diluted		229,529			242,327


NM — Not Meaningful

(1)		Total per share amounts may not add due to rounding

Page 2

BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY SEGMENT AND GEOGRAPHIC AREA
(Unaudited; Amounts in thousands)


	Three Months Ended March 31,
	2011		2010		% Change

BD MEDICAL
United States	$	398,487	$	381,767		4.4
International		582,845		539,866		8.0

TOTAL	$	981,332	$	921,633		6.5


BD DIAGNOSTICS
United States	$	310,617	$	292,841		6.1
International		294,730		262,831		12.1

TOTAL	$	605,347	$	555,672		8.9


BD BIOSCIENCES
United States	$	120,077	$	117,151		2.5
International		215,267		204,953		5.0

TOTAL	$	335,344	$	322,104		4.1


TOTAL REVENUES
United States	$	829,181	$	791,759		4.7
International		1,092,842		1,007,650		8.5

TOTAL	$	1,922,023	$	1,799,409		6.8

Page 3

BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY SEGMENT AND GEOGRAPHIC AREA
(Unaudited; Amounts in thousands)


	Six Months Ended March 31,
	2011		2010		% Change

BD MEDICAL
United States	$	804,014	$	814,344		(1.3	)
International		1,103,863		1,077,959		2.4

TOTAL	$	1,907,877	$	1,892,303		0.8


BD DIAGNOSTICS
United States	$	619,467	$	603,045		2.7
International		587,603		548,102		7.2

TOTAL	$	1,207,070	$	1,151,147		4.9


BD BIOSCIENCES
United States	$	234,302	$	227,787		2.9
International		414,779		396,990		4.5

TOTAL	$	649,081	$	624,777		3.9


TOTAL REVENUES
United States	$	1,657,783	$	1,645,176		0.8
International		2,106,245		2,023,051		4.1

TOTAL	$	3,764,028	$	3,668,227		2.6

Page 4

BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS
Three Months Ended March 31,
(Unaudited; Amounts in thousands)


	United States
	2011		2010		% Change

BD MEDICAL
Medical Surgical Systems	$	234,571	$	237,174		(1.1	)
Diabetes Care		95,939		92,515		3.7
Pharmaceutical Systems		67,977		52,078		30.5

TOTAL	$	398,487	$	381,767		4.4


BD DIAGNOSTICS
Preanalytical Systems	$	156,978	$	149,932		4.7
Diagnostic Systems		153,639		142,909		7.5

TOTAL	$	310,617	$	292,841		6.1


BD BIOSCIENCES
Cell Analysis	$	83,006	$	78,183		6.2
Discovery Labware		37,071		38,968		(4.9	)

TOTAL	$	120,077	$	117,151		2.5


TOTAL UNITED STATES	$	829,181	$	791,759		4.7

Page 5

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
	2011		2010		Reported		FXN			FX Impact

BD MEDICAL
Medical Surgical Systems	$	270,020	$	244,090		10.6		5.7			4.9
Diabetes Care		111,820	$	95,471		17.1		12.4			4.7
Pharmaceutical Systems		201,005	$	200,305		0.3		1.2			(0.9	)

TOTAL	$	582,845	$	539,866		8.0		5.3			2.7


BD DIAGNOSTICS
Preanalytical Systems	$	149,261	$	137,738		8.4		3.9			4.5
Diagnostic Systems		145,469		125,093		16.3		10.7			5.6

TOTAL	$	294,730	$	262,831		12.1		7.1			5.0


BD BIOSCIENCES
Cell Analysis	$	172,510	$	164,292		5.0		(0.5	)		5.5
Discovery Labware		42,757		40,661		5.2		(1.6	)		6.8

TOTAL	$	215,267	$	204,953		5.0		(0.8	)		5.8


TOTAL INTERNATIONAL	$	1,092,842	$	1,007,650		8.5		4.6			3.9

Page 6

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
	2011		2010		Reported		FXN			FX Impact

BD MEDICAL
Medical Surgical Systems	$	504,591	$	481,264		4.8		2.3			2.5
Diabetes Care		207,759		187,986		10.5		8.1			2.4
Pharmaceutical Systems		268,982		252,383		6.6		7.3			(0.7	)

TOTAL	$	981,332	$	921,633		6.5		4.9			1.6


BD DIAGNOSTICS
Preanalytical Systems	$	306,239	$	287,670		6.5		4.4			2.1
Diagnostic Systems		299,108		268,002		11.6		9.0			2.6

TOTAL	$	605,347	$	555,672		8.9		6.5			2.4


BD BIOSCIENCES
Cell Analysis	$	255,516	$	242,475		5.4		1.7			3.7
Discovery Labware		79,828		79,629		0.2		(3.3	)		3.5

TOTAL	$	335,344	$	322,104		4.1		0.4			3.7


TOTAL REVENUES	$	1,922,023	$	1,799,409		6.8		4.6			2.2

Page 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
	2011		2010		% Change

BD MEDICAL
Medical Surgical Systems	$	488,825	$	511,166		(4.4	)
Diabetes Care		195,524		189,079		3.4
Pharmaceutical Systems		119,665		114,099		4.9

TOTAL	$	804,014	$	814,344		(1.3	)


BD DIAGNOSTICS
Preanalytical Systems	$	319,036	$	306,167		4.2
Diagnostic Systems		300,431		296,878		1.2

TOTAL	$	619,467	$	603,045		2.7


BD BIOSCIENCES
Cell Analysis	$	163,262	$	155,787		4.8
Discovery Labware		71,040		72,000		(1.3	)

TOTAL	$	234,302	$	227,787		2.9


TOTAL UNITED STATES	$	1,657,783	$	1,645,176		0.8

Page 8

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
	2011		2010		Reported			FXN			FX Impact

BD MEDICAL
Medical Surgical Systems	$	528,491	$	503,273		5.0			1.7			3.3
Diabetes Care		226,118		200,428		12.8			10.5			2.3
Pharmaceutical Systems		349,254		374,258		(6.7	)		(4.4	)		(2.3	)

TOTAL	$	1,103,863	$	1,077,959		2.4			1.2			1.2


BD DIAGNOSTICS
Preanalytical Systems	$	299,832	$	281,670		6.4			3.9			2.5
Diagnostic Systems		287,771		266,432		8.0			4.8			3.2

TOTAL	$	587,603	$	548,102		7.2			4.4			2.8


BD BIOSCIENCES
Cell Analysis	$	332,997	$	318,025		4.7			1.9			2.8
Discovery Labware		81,782		78,965		3.6			(0.9	)		4.5

TOTAL	$	414,779	$	396,990		4.5			1.4			3.1


TOTAL INTERNATIONAL	$	2,106,245	$	2,023,051		4.1			2.1			2.0

Page 9

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
	2011		2010		Reported			FXN			FX Impact

BD MEDICAL
Medical Surgical Systems	$	1,017,316	$	1,014,439		0.3			(1.4	)		1.7
Diabetes Care		421,642		389,507		8.3			7.1			1.2
Pharmaceutical Systems		468,919		488,357		(4.0	)		(2.2	)		(1.8	)

TOTAL	$	1,907,877	$	1,892,303		0.8			0.1			0.7


BD DIAGNOSTICS
Preanalytical Systems	$	618,868	$	587,837		5.3			4.1			1.2
Diagnostic Systems		588,202		563,310		4.4			2.9			1.5

TOTAL	$	1,207,070	$	1,151,147		4.9			3.6			1.3


BD BIOSCIENCES
Cell Analysis	$	496,259	$	473,812		4.7			2.8			1.9
Discovery Labware		152,822		150,965		1.2			(1.1	)		2.3

TOTAL	$	649,081	$	624,777		3.9			1.9			2.0


TOTAL REVENUES	$	3,764,028	$	3,668,227		2.6			1.5			1.1

Page 10

BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
SAFETY REVENUES
(Unaudited; Amounts in thousands)


	Three Months Ended March 31,
					% Change
	2011		2010		Reported		FXN		FX Impact

TOTAL SAFETY REVENUES
United States	$	263,524	$	263,044		0.2		0.2		—
International		177,859		148,537		19.7		14.1		5.6

TOTAL	$	441,383	$	411,581		7.2		5.2		2.0


BY SEGMENT
BD Medical	$	204,866	$	193,688		5.8		3.9		1.9
BD Diagnostics		236,517		217,893		8.5		6.3		2.2

TOTAL	$	441,383	$	411,581		7.2		5.2		2.0


	Six Months Ended March 31,
					% Change
	2011		2010		Reported			FXN			FX Impact

TOTAL SAFETY REVENUES
United States	$	547,306	$	554,859		(1.4	)		(1.4	)		—
International		347,113		303,666		14.3			10.8			3.5

TOTAL	$	894,419	$	858,525		4.2			2.9			1.3


BY SEGMENT
BD Medical	$	418,175	$	414,862		0.8			(0.4	)		1.2
BD Diagnostics		476,244		443,663		7.3			6.0			1.3

TOTAL	$	894,419	$	858,525		4.2			2.9			1.3

Page 11

BECTON DICKINSON AND COMPANY
SUPPLEMENTAL INFORMATION
FY2011 Quarter-to-Date Reconciliation
(Unaudited; Amounts in millions, except per share data)


	Three Months Ended March 31,
	Reported		Reported				Adjusted		Adjusted
	FY 2011		FY 2010		Tax⁽¹⁾		FY 2010		% Growth

Diluted Earnings per Share from Continuing Operations	$	1.38	$	1.18	$	.04	$	1.22		13.1	%


⁽¹⁾		Represents a non-cash charge related to healthcare reform impacting Medicare Part D reimbursements.

Page 12

BECTON DICKINSON AND COMPANY
SUPPLEMENTAL INFORMATION
FY2011 Year-to-Date Reconciliation
(Unaudited; Amounts in millions, except per share data)


	Six Months Ended March 31,
	Reported		Reported				Adjusted		Adjusted
	FY 2011		FY 2010		Tax⁽¹⁾		FY 2010		% Growth

Diluted Earnings per Share from Continuing Operations	$	2.72	$	2.43	$	.04	$	2.47		10.1	%


⁽¹⁾		Represents a non-cash charge related to healthcare reform impacting Medicare Part D reimbursements.

Page 13

BECTON DICKINSON AND COMPANY
SUPPLEMENTAL INFORMATION
Quarter-to-Date Fiscal 2011 Reconciliation — FX Impact
(Unaudited; Amounts in millions, except per share data)


	Three Months Ended March 31,
					Adjusted		Foreign			FY10				Adjusted
	Reported		Adjusted		Growth		Currency			Hedge		Total		FXN		FXN
	FY 2011		FY 2010		$		Translation			Loss		FX		Change		Growth

REVENUES	$	1,922		1,799		123		13			27		40		83		4.6	%

Diluted Earnings per Share from Continuing Operations	$	1.38		1.22		0.16		(0.00	)		0.07		0.07		0.09		7.4	%

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

Page 14

BECTON DICKINSON AND COMPANY
SUPPLEMENTAL INFORMATION
Year-to-Date Fiscal 2011 Reconciliation — FX Impact
(Unaudited; Amounts in millions, except per share data)


	Six Months Ended March 31,
					Adjusted		Foreign			FY10				Adjusted
	Reported		Adjusted		Growth		Currency			Hedge		Total		FXN		FXN
	FY 2011		FY 2010		$		Translation			Loss		FX		Change		Growth

REVENUES	$	3,764		3,668		96		(1	)		41		41		55		1.5	%

Diluted Earnings per Share from Continuing Operations	$	2.72		2.47		0.25		0.01			0.11		0.12		0.13		5.3	%

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

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BECTON DICKINSON AND COMPANY
SUPPLEMENTAL INFORMATION
FY2010 Year-to-Date Reconciliation


Reported Diluted Earnings per Share from Continuing Operations	$	4.90

Tax⁽¹⁾		0.04


Adjusted Diluted Earnings per Share from Continuing Operations	$	4.94


⁽¹⁾		Represents a non-cash charge related to healthcare reform impacting Medicare Part D reimbursements.

Page 16

BECTON DICKINSON & CO - FORM 8-K - EX-99.1 - April 26, 2011

Attached files

BECTON DICKINSON & CO Reports