Exhibit 99.1

1 Becton Drive

Franklin Lakes, NJ 07417

www.bd.com

 

News Release

Contact:

Monique N. Dolecki, Investor Relations – 201-847-5378

Colleen T. White, Corporate Communications – 201-847-5369

BD ANNOUNCES RESULTS FOR 2012 THIRD FISCAL QUARTER

 

•

Reported results reflect reclassification of Discovery Labware unit as discontinued operations, excluding Advanced Bioprocessing.

 

•

Third-quarter earnings per share of $1.59 include $1.52 from continuing operations and $0.07 from discontinued operations relating to the Discovery Labware unit.

Franklin Lakes, NJ (August 2, 2012) – BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, today reported quarterly revenues of $1.981 billion for the third fiscal quarter ended June 30, 2012, representing an increase of 1.5 percent from the prior-year period, or 4.9 percent on a foreign currency-neutral basis.

“We are very pleased with our third quarter results,” said Vincent A. Forlenza, Chairman of the Board, Chief Executive Officer and President. “As we anticipated, our revenue and earnings growth improved this quarter, demonstrating that our strategy implementation is on track and in line with our previously communicated expectations.”

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Update on Agreement to Sell Discovery Labware Unit, Excluding Advanced Bioprocessing

In April 2012, the Company signed a definitive agreement to sell its BD Biosciences - Discovery Labware unit, excluding its Advanced Bioprocessing platform. The transaction is expected to be completed by the end of calendar year 2012, subject to the satisfaction of customary closing conditions, including consultations and regulatory approvals. The results of operations associated with this disposal group have been reclassified as discontinued operations for all quarters and years referred to in this release.

As illustrated on page 3 of the attached financial tables, diluted earnings per share for the third quarter of $1.59 less the $0.07 from discontinued operations resulted in earnings per share from continuing operations of $1.52.

Also included for reference in the attached financial tables are the Company’s Consolidated Income Statements reflecting the reclassification change of the Discovery Labware disposal group to discontinued operations, for the first two quarters of fiscal year 2012 and for all periods in fiscal year 2011.

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Third Quarter and Nine-Month Fiscal 2012 Operating Results

Reported diluted earnings per share from continuing operations for the third quarter were $1.52, representing an increase of 5.6 percent over the prior-year period. On a foreign currency-neutral basis, diluted earnings per share from continuing operations for the third quarter increased by 9.7 percent.

For the nine-month period ending June 30, 2012, reported diluted earnings per share from continuing operations were $3.95, representing a decrease of 1.7 percent over the prior- year period. On a foreign currency-neutral basis, diluted earnings per share from continuing operations increased by 1.0 percent for this period.

Segment Results

In the BD Medical segment, worldwide revenues for the quarter were $1.070 billion, representing an increase of 2.4 percent compared with the prior-year period, or 6.4 percent on a currency-neutral basis. The segment’s revenue growth reflected strong sales and favorable comparisons in the Diabetes Care and Pharmaceutical Systems units. For the nine-month period ended June 30, 2012, BD Medical revenues increased 3.0 percent, or 4.8 percent on a currency-neutral basis.

In the BD Diagnostics segment, worldwide revenues for the quarter were $642 million, representing an increase of 1.7 percent compared with the prior-year period, or 4.7 percent on a foreign currency-neutral basis. The segment’s growth was primarily driven

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by solid sales of Preanalytical Systems safety-engineered products and strong sales in the Women’s Health and Cancer platform. For the nine-month period ended June 30, 2012, BD Diagnostics revenues increased 3.0 percent, or 4.3 percent on a currency-neutral basis.

In the BD Biosciences segment, worldwide revenues for the quarter were $268 million, representing a decrease of 2.7 percent compared with the prior-year period. On a currency-neutral basis, revenues increased by 0.2 percent. Segment results continue to be negatively affected by weakness in the U.S. research market. For the nine-month period ended June 30, 2012, BD Biosciences revenues increased 0.2 percent, or 1.3 percent on a currency-neutral basis.

Geographic Results

Third quarter revenues in the U.S. were $837 million, representing an increase of 1.1 percent compared with the prior-year period. Revenues outside of the U.S. were $1.144 billion, representing an increase of 1.7 percent compared with the prior-year period, or an increase of 7.8 percent on a foreign currency-neutral basis. International revenues reflected continued strength in emerging markets and strong sales of safety-engineered products. For the nine-month period ended June 30, 2012, revenues in the U.S. were $2.464 billion, representing an increase of 1.3 percent compared with the prior-year period. Revenues outside of the U.S. were $3.277 billion, representing an increase of 3.6 percent compared with the prior-year period, or 6.4 percent on a foreign currency-neutral basis.

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Fiscal 2012 Outlook for Full Year

The Company expects reported revenue growth for the full fiscal year 2012 to be about 1 percent versus its previously disclosed guidance of 1 to 2 percent. This reflects the anticipated effects of unfavorable currency translation. On a currency-neutral basis, the Company is raising the lower end of its previously disclosed guidance of 3 to 4 percent to about 4 percent. The Company expects reported diluted earnings per share from continuing operations for the full fiscal year 2012 to be between $5.33 and $5.38. This reflects the reclassification of the Discovery Labware unit as discontinued operations and the anticipated effects of unfavorable currency translation. On a currency-neutral basis, the Company reaffirms its previously disclosed diluted earnings per share growth guidance of 4 to 5 percent, which includes the estimated impact of our recently announced agreement to acquire Safety Syringes, Inc.

Conference Call Information

A conference call regarding BD’s third quarter results and its expectations for the full fiscal year 2012 will be broadcast live on BD’s website, www.bd.com/investors, along with related slides, at 8:00 a.m. (ET) Thursday August 2, 2012. The conference call will be available for replay on BD’s website, www.bd.com/investors, or at 1-800-585-8367 (domestic) and 1-404-537-3406 (international) through the close of business on Tuesday, August 9, 2012, access code 96886040.

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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 2012 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 and earnings per share. 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: adverse changes in regional, national or foreign economic conditions, including any impact that may result from the current global economic conditions on our ability to access credit markets and finance our operations, the demand for our products and services as a result of reduced government funding, lower utilization rates or otherwise, or our suppliers’ ability to provide products needed for our operations; the unknown consequences of 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

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could reduce demand for our products and increase downward pricing pressure; changes in interest or foreign currency exchange rates; competitive factors; pricing and other market pressures; our ability to successfully integrate any businesses we acquire; 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 our 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; and issuance of new or revised accounting standards, as well as other factors discussed 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.

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BECTON DICKINSON AND COMPANY

CONSOLIDATED INCOME STATEMENTS

(Unaudited; Amounts in thousands, except per share data)

 

		Three Months Ended June 30,
		2012				2011				% Change
REVENUES		$	1,980,530			$	1,951,889				1.5
Cost of products sold			947,395				922,652				2.7
Selling and administrative			469,130				467,968				0.2
Research and development			114,987				114,078				0.8
TOTAL OPERATING COSTS AND EXPENSES			1,531,512				1,504,698				1.8
OPERATING INCOME			449,018				447,191				0.4
Interest income			6,253				11,508				(45.7	)
Interest expense			(34,849	)			(22,211	)			56.9
Other expense, net			(1,881	)			(1,318	)			42.7
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES			418,541				435,170				(3.8	)
Income tax provision			106,960				113,630				(5.9	)
INCOME FROM CONTINUING OPERATIONS			311,581				321,540				(3.1	)
INCOME FROM DISCONTINUED OPERATIONS NET OF INCOME TAX PROVISION OF $7,288 AND $9,012, RESPECTIVELY			15,285				21,518				(29.0	)
NET INCOME		$	326,866			$	343,058				(4.7	)
EARNINGS PER SHARE
Basic:
Income from continuing operations		$	1.54			$	1.47				4.8
Income from discontinued operations		$	0.08			$	0.10				(20.0	)
Net income		$	1.62			$	1.57				3.2
Diluted:
Income from continuing operations		$	1.52			$	1.44				5.6
Income from discontinued operations		$	0.07			$	0.10				(30.0	)
Net income (1)		$	1.59			$	1.53				3.9
AVERAGE SHARES OUTSTANDING
Basic			202,015				218,966
Diluted			205,290				223,567

 

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

 

Page 1

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BECTON DICKINSON AND COMPANY

CONSOLIDATED INCOME STATEMENTS

(Unaudited; Amounts in thousands, except per share data)

 

		Nine Months Ended June 30,
		2012				2011				% Change
REVENUES		$	5,741,211			$	5,595,856				2.6
Cost of products sold			2,789,044				2,654,081				5.1
Selling and administrative			1,439,094				1,343,946				7.1
Research and development			343,968				344,989				(0.3	)
TOTAL OPERATING COSTS AND EXPENSES			4,572,106				4,343,016				5.3
OPERATING INCOME			1,169,105				1,252,840				(6.7	)
Interest income			38,379				41,294				(7.1	)
Interest expense			(99,367	)			(61,685	)			61.1
Other income (expense), net			2,392				(8,436	)			NM
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES			1,110,509				1,224,013				(9.3	)
Income tax provision			275,260				308,177				(10.7	)
INCOME FROM CONTINUING OPERATIONS			835,249				915,836				(8.8	)
INCOME FROM DISCONTINUED OPERATIONS NET OF INCOME TAX PROVISION OF $22,158 AND $26,338, RESPECTIVELY			45,635				55,179				(17.3	)
NET INCOME		$	880,884			$	971,015				(9.3	)
EARNINGS PER SHARE
Basic:
Income from continuing operations		$	4.02			$	4.11				(2.2	)
Income from discontinued operations		$	0.22			$	0.25				(12.0	)
Net income		$	4.24			$	4.36				(2.8	)
Diluted:
Income from continuing operations		$	3.95			$	4.02				(1.7	)
Income from discontinued operations		$	0.22			$	0.24				(8.3	)
Net income		$	4.17			$	4.26				(2.1	)
AVERAGE SHARES OUTSTANDING
Basic			207,605				222,674
Diluted			211,254				227,782

NM - Not Meaningful

 

Page 2

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Becton Dickinson and Company

Supplemental Income Statement Information - Fiscal 2012

Revised for discontinued operations of Discovery Labware divestiture

(Unaudited: Amounts in thousands, except per-share data)

 

		Previously Reported				Amounts reclassified to Discontinued Operations				As Revised
Quarter 1
Revenues		$	1,887,645			$	55,925			$	1,831,720
Income from Continuing Operations		$	263,010			$	14,466			$	248,544
Diluted Earnings Per Share from Continuing Operations		$	1.21			$	0.07			$	1.14
Quarter 2
Revenues		$	1,990,818			$	61,857			$	1,928,961
Income from Continuing Operations		$	290,548			$	15,424			$	275,124
Diluted Earnings Per Share from Continuing Operations		$	1.38			$	0.07			$	1.31
		Pro Forma				Amounts reclassified to Discontinued Operations				From Continuing Operations
Quarter 3
Revenues		$	2,040,760			$	60,230			$	1,980,530
Income		$	326,795			$	15,214			$	311,581
Diluted Earnings Per Share		$	1.59			$	0.07			$	1.52
YTD
Revenues		$	5,919,224			$	178,013			$	5,741,211
Income		$	880,353			$	45,104			$	835,249
Diluted Earnings Per Share (1)		$	4.17			$	0.21			$	3.95

Certain quarterly amounts may not add to the year-to-date totals due to rounding.

 

(1)	Diluted Earnings per Share may not add due to rounding.

 

Page 3

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Becton Dickinson and Company

Supplemental Income Statement Information - Fiscal 2011 and 2010

Revised for discontinued operations of Discovery Labware divestiture

(Unaudited: Amounts in thousands, except per-share data)

 

		Previously Reported				Amounts reclassified to Discontinued Operations				As Revised
Fiscal 2011
Revenues		$	7,828,904			$	244,867			$	7,584,037
Income from Continuing Operations		$	1,264,852			$	63,969			$	1,200,883
Diluted Earnings Per Share from Continuing Operations		$	5.59			$	0.28			$	5.31
Fiscal 2010
Revenues		$	7,372,333			$	247,948			$	7,124,385
Income from Continuing Operations		$	1,176,340			$	61,496			$	1,114,844
Diluted Earnings Per Share from Continuing Operations		$	4.90			$	0.26			$	4.64

 

Page 4

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BECTON DICKINSON AND COMPANY

SUPPLEMENTAL REVENUE INFORMATION

REVENUES BY SEGMENT AND GEOGRAPHIC AREA

(Unaudited; Amounts in thousands)

 

		Three Months Ended June 30,
		2012				2011				% Change
BD MEDICAL
United States		$	429,621			$	416,729				3.1
International			640,455				628,107				2.0
TOTAL		$	1,070,076			$	1,044,836				2.4
BD DIAGNOSTICS
United States		$	315,240			$	312,802				0.8
International			327,010				318,557				2.7
TOTAL		$	642,250			$	631,359				1.7
BD BIOSCIENCES
United States		$	91,674			$	97,914				(6.4	)
International			176,530				177,780				(0.7	)
TOTAL		$	268,204			$	275,694				(2.7	)
TOTAL REVENUES
United States		$	836,535			$	827,445				1.1
International			1,143,995				1,124,444				1.7
TOTAL		$	1,980,530			$	1,951,889				1.5

 

Page 5

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BECTON DICKINSON AND COMPANY

SUPPLEMENTAL REVENUE INFORMATION

REVENUES BY SEGMENT AND GEOGRAPHIC AREA

(Unaudited; Amounts in thousands)

 

		Nine Months Ended June 30,
		2012				2011				% Change
BD MEDICAL
United States		$	1,262,811			$	1,220,744				3.4
International			1,778,849				1,731,969				2.7
TOTAL		$	3,041,660			$	2,952,713				3.0
BD DIAGNOSTICS
United States		$	945,460			$	932,269				1.4
International			947,552				906,160				4.6
TOTAL		$	1,893,012			$	1,838,429				3.0
BD BIOSCIENCES
United States		$	255,587			$	280,096				(8.8	)
International			550,952				524,618				5.0
TOTAL		$	806,539			$	804,714				0.2
TOTAL REVENUES
United States		$	2,463,858			$	2,433,109				1.3
International			3,277,353				3,162,747				3.6
TOTAL		$	5,741,211			$	5,595,856				2.6

 

Page 6

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BECTON DICKINSON AND COMPANY

SUPPLEMENTAL REVENUE INFORMATION

REVENUES BY BUSINESS SEGMENTS AND UNITS

Three Months Ended June 30,

(Unaudited; Amounts in thousands)

 

		United States
		2012				2011				% Change
BD MEDICAL
Medical Surgical Systems		$	241,320			$	244,756				(1.4	)
Diabetes Care			110,013				100,465				9.5
Pharmaceutical Systems			78,288				71,508				9.5
TOTAL		$	429,621			$	416,729				3.1
BD DIAGNOSTICS
Preanalytical Systems		$	165,962			$	162,589				2.1
Diagnostic Systems			149,278				150,213				(0.6	)
TOTAL		$	315,240			$	312,802				0.8
BD BIOSCIENCES
Cell Analysis (1)		$	91,674			$	97,914				(6.4	)
TOTAL		$	91,674			$	97,914				(6.4	)
TOTAL UNITED STATES		$	836,535			$	827,445				1.1

 

(1)	Cell Analysis consists of the Cell Analysis unit and the Advanced Bioprocessing platform.

Advanced Bioprocessing was previously reported with the Discovery Labware unit.

 

Page 7

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BECTON DICKINSON AND COMPANY

SUPPLEMENTAL REVENUE INFORMATION

REVENUES BY BUSINESS SEGMENTS AND UNITS

Three Months Ended June 30, (continued)

(Unaudited; Amounts in thousands)

 

		International
										% Change
		2012				2011				Reported				FXN				FX Impact
BD MEDICAL
Medical Surgical Systems		$	290,451			$	284,262				2.2				8.4				(6.2	)
Diabetes Care			122,662				119,719				2.5				8.7				(6.2	)
Pharmaceutical Systems			227,342				224,126				1.4				8.7				(7.3	)
TOTAL		$	640,455			$	628,107				2.0				8.5				(6.5	)
BD DIAGNOSTICS
Preanalytical Systems		$	167,492			$	167,737				(0.1	)			6.3				(6.4	)
Diagnostic Systems			159,518				150,820				5.8				10.9				(5.1	)
TOTAL		$	327,010			$	318,557				2.7				8.5				(5.8	)
BD BIOSCIENCES
Cell Analysis (1)		$	176,530			$	177,780				(0.7	)			3.8				(4.5	)
TOTAL		$	176,530			$	177,780				(0.7	)			3.8				(4.5	)
TOTAL INTERNATIONAL		$	1,143,995			$	1,124,444				1.7				7.8				(6.1	)

 

(1)	Cell Analysis consists of the Cell Analysis unit and the Advanced Bioprocessing platform.

Advanced Bioprocessing was previously reported with the Discovery Labware unit.

 

Page 8

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BECTON DICKINSON AND COMPANY

SUPPLEMENTAL REVENUE INFORMATION

REVENUES BY BUSINESS SEGMENTS AND UNITS

Three Months Ended June 30, (continued)

(Unaudited; Amounts in thousands)

 

		Total
										% Change
		2012				2011				Reported				FXN				FX Impact
BD MEDICAL
Medical Surgical Systems		$	531,771			$	529,018				0.5				3.8				(3.3	)
Diabetes Care			232,675				220,184				5.7				9.1				(3.4	)
Pharmaceutical Systems			305,630				295,634				3.4				8.9				(5.5	)
TOTAL		$	1,070,076			$	1,044,836				2.4				6.4				(4.0	)
BD DIAGNOSTICS
Preanalytical Systems		$	333,454			$	330,326				0.9				4.2				(3.3	)
Diagnostic Systems			308,796				301,033				2.6				5.1				(2.5	)
TOTAL		$	642,250			$	631,359				1.7				4.7				(3.0	)
BD BIOSCIENCES
Cell Analysis (1)		$	268,204			$	275,694				(2.7	)			0.2				(2.9	)
TOTAL		$	268,204			$	275,694				(2.7	)			0.2				(2.9	)
TOTAL REVENUES		$	1,980,530			$	1,951,889				1.5				4.9				(3.4	)

 

(1)	Cell Analysis consists of the Cell Analysis unit and the Advanced Bioprocessing platform.

Advanced Bioprocessing was previously reported with the Discovery Labware unit.

 

Page 9

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BECTON DICKINSON AND COMPANY

SUPPLEMENTAL REVENUE INFORMATION

REVENUES BY BUSINESS SEGMENTS AND UNITS

Nine Months Ended June 30,

(Unaudited; Amounts in thousands)

 

		United States
		2012				2011				% Change
BD MEDICAL
Medical Surgical Systems		$	727,335			$	733,582				(0.9	)
Diabetes Care			321,264				295,989				8.5
Pharmaceutical Systems			214,212				191,173				12.1
TOTAL		$	1,262,811			$	1,220,744				3.4
BD DIAGNOSTICS
Preanalytical Systems		$	491,532			$	481,624				2.1
Diagnostic Systems			453,928				450,645				0.7
TOTAL		$	945,460			$	932,269				1.4
BD BIOSCIENCES
Cell Analysis (1)		$	255,587			$	280,096				(8.8	)
TOTAL		$	255,587			$	280,096				(8.8	)
TOTAL UNITED STATES		$	2,463,858			$	2,433,109				1.3

 

(1)	Cell Analysis consists of the Cell Analysis unit and the Advanced Bioprocessing platform.

Advanced Bioprocessing was previously reported with the Discovery Labware unit.

 

Page 10

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BECTON DICKINSON AND COMPANY

SUPPLEMENTAL REVENUE INFORMATION

REVENUES BY BUSINESS SEGMENTS AND UNITS

Nine Months Ended June 30, (continued)

(Unaudited; Amounts in thousands)

 

		International
										% Change
		2012				2011				Reported				FXN				FX Impact
BD MEDICAL
Medical Surgical Systems		$	845,685			$	812,752				4.1				7.0				(2.9	)
Diabetes Care			356,575				345,837				3.1				5.7				(2.6	)
Pharmaceutical Systems			576,589				573,380				0.6				4.1				(3.5	)
TOTAL		$	1,778,849			$	1,731,969				2.7				5.8				(3.1	)
BD DIAGNOSTICS
Preanalytical Systems		$	481,857			$	467,570				3.1				6.5				(3.4	)
Diagnostic Systems			465,695				438,590				6.2				8.2				(2.0	)
TOTAL		$	947,552			$	906,160				4.6				7.3				(2.7	)
BD BIOSCIENCES
Cell Analysis (1)		$	550,952			$	524,618				5.0				6.6				(1.6	)
TOTAL		$	550,952			$	524,618				5.0				6.6				(1.6	)
TOTAL INTERNATIONAL		$	3,277,353			$	3,162,747				3.6				6.4				(2.8	)

 

(1)	Cell Analysis consists of the Cell Analysis unit and the Advanced Bioprocessing platform.

Advanced Bioprocessing was previously reported with the Discovery Labware unit.

 

Page 11

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BECTON DICKINSON AND COMPANY

SUPPLEMENTAL REVENUE INFORMATION

REVENUES BY BUSINESS SEGMENTS AND UNITS

Nine Months Ended June 30, (continued)

(Unaudited; Amounts in thousands)

 

		Total
										% Change
		2012				2011				Reported				FXN				FX Impact
BD MEDICAL
Medical Surgical Systems		$	1,573,020			$	1,546,334				1.7				3.3				(1.6	)
Diabetes Care			677,839				641,826				5.6				7.0				(1.4	)
Pharmaceutical Systems			790,801				764,553				3.4				6.1				(2.7	)
TOTAL		$	3,041,660			$	2,952,713				3.0				4.8				(1.8	)
BD DIAGNOSTICS
Preanalytical Systems		$	973,389			$	949,194				2.5				4.2				(1.7	)
Diagnostic Systems			919,623				889,235				3.4				4.4				(1.0	)
TOTAL		$	1,893,012			$	1,838,429				3.0				4.3				(1.3	)
BD BIOSCIENCES
Cell Analysis (1)		$	806,539			$	804,714				0.2				1.3				(1.1	)
TOTAL		$	806,539			$	804,714				0.2				1.3				(1.1	)
TOTAL REVENUES		$	5,741,211			$	5,595,856				2.6				4.1				(1.5	)

 

(1)	Cell Analysis consists of the Cell Analysis unit and the Advanced Bioprocessing platform.

Advanced Bioprocessing was previously reported with the Discovery Labware unit.

 

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BECTON DICKINSON AND COMPANY

SUPPLEMENTAL REVENUE INFORMATION

SAFETY REVENUES

(Unaudited; Amounts in thousands)

 

		Three Months Ended June 30,
										% Change
		2012				2011				Reported				FXN				FX Impact
TOTAL SAFETY REVENUES
United States		$	284,830			$	280,696				1.5				1.5				—
International			215,964				198,417				8.8				15.7				(6.9	)
TOTAL		$	500,794			$	479,113				4.5				7.4				(2.9	)
BY SEGMENT
BD Medical		$	240,065			$	223,460				7.4				9.8				(2.4	)
BD Diagnostics			260,729				255,653				2.0				5.3				(3.3	)
TOTAL		$	500,794			$	479,113				4.5				7.4				(2.9	)
		Nine Months Ended June 30,
										% Change
		2012				2011				Reported				FXN				FX Impact
TOTAL SAFETY REVENUES
United States		$	858,175			$	828,002				3.6				3.6				—
International			618,290				545,530				13.3				16.7				(3.4	)
TOTAL		$	1,476,465			$	1,373,532				7.5				8.8				(1.3	)
BY SEGMENT
BD Medical		$	715,776			$	641,635				11.6				12.4				(0.8	)
BD Diagnostics			760,689				731,897				3.9				5.6				(1.7	)
TOTAL		$	1,476,465			$	1,373,532				7.5				8.8				(1.3	)

 

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BECTON DICKINSON AND COMPANY

CONSOLIDATED INCOME STATEMENTS FISCAL 2012

Revised for discontinued operations of Discovery Labware divestiture

(Unaudited; Amounts in thousands, except per-share data)

 

		Quarter 1				Quarter 2				Quarter 2 YTD
REVENUES		$	1,831,720			$	1,928,961			$	3,760,681
Cost of products sold			900,465				941,184				1,841,649
Selling and administrative			482,271				487,694				969,964
Research and development			112,227				116,753				228,981
TOTAL OPERATING COSTS AND EXPENSES			1,494,963				1,545,631				3,040,594
OPERATING INCOME			336,757				383,330				720,087
Interest income			15,448				16,678				32,126
Interest expense			(29,378	)			(35,140	)			(64,518	)
Other (expense) income, net			(385	)			4,657				4,272
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES			322,442				369,525				691,967
Income tax provision			73,898				94,401				168,298
INCOME FROM CONTINUING OPERATIONS			248,544				275,124				523,669
Income from Discontinued Operations before Income Tax			21,768				23,453				45,221
Income Tax provision			7,327				7,544				14,871
INCOME FROM DISCONTINUED OPERATIONS			14,441				15,909				30,350
NET INCOME		$	262,985			$	291,033			$	554,019
EARNINGS PER SHARE
Basic:
Income from continuing operations		$	1.16			$	1.33			$	2.49
Income from discontinued operations		$	0.07			$	0.08			$	0.14
Net income		$	1.23			$	1.41			$	2.63
Diluted:
Income from continuing operations		$	1.14			$	1.31			$	2.45
Income from discontinued operations		$	0.07			$	0.08			$	0.14
Net income		$	1.21			$	1.39			$	2.59
AVERAGE SHARES OUTSTANDING
Basic			214,300				206,426				210,385
Diluted			217,634				209,803				213,970

Certain quarterly amounts may not add to the year-to-date totals due to rounding.

 

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BECTON DICKINSON AND COMPANY

CONSOLIDATED INCOME STATEMENTS FISCAL 2011

Revised for discontinued operations of Discovery Labware divestiture

(Unaudited; Amounts in thousands, except per-share data)

 

		Quarter 1				Quarter 2				Quarter 3				Quarter 4				Year
REVENUES		$	1,783,353			$	1,860,614			$	1,951,889			$	1,988,181			$	7,584,037
Cost of products sold			840,166				891,262				922,652				971,041				3,625,122
Selling and administrative			440,955				435,024				467,968				479,591				1,823,537
Research and development			113,568				117,343				114,078				124,528				469,517
TOTAL OPERATING COSTS AND EXPENSES			1,394,689				1,443,629				1,504,698				1,575,160				5,918,176
OPERATING INCOME			388,664				416,985				447,191				413,021				1,665,861
Interest income			15,222				14,564				11,508				1,915				43,209
Interest expense			(15,553	)			(23,921	)			(22,211	)			(22,334	)			(84,019	)
Other (expense) income, net			(4,596	)			(2,522	)			(1,318	)			1,272				(7,164	)
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES			383,737				405,106				435,170				393,874				1,617,887
Income tax provision			85,291				109,256				113,630				108,827				417,004
INCOME FROM CONTINUING OPERATIONS			298,446				295,850				321,540				285,047				1,200,883
Income from Discontinued Operations before Income Tax			26,298				24,688				30,530				23,793				105,310
Income Tax provision			8,807				8,519				9,012				8,860				35,199
INCOME FROM DISCONTINUED OPERATIONS			17,491				16,169				21,518				14,933				70,111
NET INCOME		$	315,937			$	312,019			$	343,058			$	299,980			$	1,270,994
EARNINGS PER SHARE
Basic:
Income from continuing operations		$	1.31			$	1.34			$	1.47			$	1.32			$	5.43
Income from discontinued operations		$	0.08			$	0.07			$	0.10			$	0.07			$	0.32
Net income (1)		$	1.39			$	1.41			$	1.57			$	1.38			$	5.75
Diluted:
Income from continuing operations		$	1.28			$	1.31			$	1.44			$	1.29			$	5.31
Income from discontinued operations		$	0.08			$	0.07			$	0.10			$	0.07			$	0.31
Net income (1)		$	1.36			$	1.38			$	1.53			$	1.36			$	5.62
AVERAGE SHARES OUTSTANDING
Basic			228,083				220,894				218,966				216,726				221,175
Diluted			232,915				225,467				223,567				220,859				226,280

Certain quarterly amounts may not add to the year-to-date totals due to rounding.

 

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

 

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BECTON DICKINSON AND COMPANY

SUPPLEMENTAL INFORMATION

Quarter-to-Date Fiscal 2012 Reconciliation - FX Impact

(Unaudited; Amounts in millions, except per share data)

 

		Three Months Ended June 30,
		Reported FY2012				Reported FY2011				Reported Growth $				Foreign Currency Translation				FXN Change				FXN Growth
REVENUES		$	1,981			$	1,952			$	29			$	(68	)		$	96				4.9	%
Diluted Earnings per Share from Continuing Operations		$	1.52			$	1.44			$	0.08			$	(0.06	)		$	0.14				9.7	%

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

FXN = Foreign Currency Neutral

 

Page 16

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BECTON DICKINSON AND COMPANY

SUPPLEMENTAL INFORMATION

Year-to-Date Fiscal 2012 Reconciliation - FX Impact

(Unaudited; Amounts in millions, except per share data)

 

		Nine Months Ended June 30,
		Reported FY2012				Reported FY2011				Reported Growth $				Foreign Currency Translation				FXN Change				FXN Growth
REVENUES		$	5,741			$	5,596			$	145			$	(86	)		$	232				4.1	%
Diluted Earnings per Share from Continuing Operations		$	3.95			$	4.02			$	(0.07	)		$	(0.11	)		$	0.04				1.0	%

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

FXN = Foreign Currency Neutral

 

Page 17