BD Announces Results for Fiscal Third Quarter.Business Editors/Health/Medical Writers FRANKLIN Franklin, cities, United States Franklin. 1 City (1990 pop. 12,907), seat of Johnson co., S central Ind., inc. 1823. It is a farm trade center. Manufactures include auto parts, aluminum doors and windows, and copper panels. LAKES, N.J.--(BUSINESS WIRE)--July 24, 2003 BD (Becton, Dickinson Dickinson, city (1990 pop. 16,097), seat of Stark co., SW N.Dak., on the Heart River; inc. 1919. It is a processing and shipping center for a livestock, dairy, and wheat region, as well as a service center for the Williston Basin oil industry. Dickinson State Univ. and Company) (NYSE NYSE See: New York Stock Exchange : BDX BDX Bordeaux (France) BDX Becton-Dickinson and Company (stock symbol) BDX Business Document Exchange BDX Burst Detector X BDX Beacon Data Extractor ) today reported record quarterly revenues of $1.165 billion for the fiscal third quarter ended June June: see month. 30, 2003, an increase of 17 percent from the same period a year ago. At constant foreign exchange rates, revenues increased 11 percent. Revenue growth in all segments benefited from favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. foreign currency translation, particularly with respect to the Euro. Diluted earnings per share diluted earnings per share An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of and net income for the quarter were 49 cents and $130 million, respectively. Included in third quarter results were non-cash charges Non-Cash Charge A charge off, made by a company against earnings, that does not require an initial outlay of cash. Notes: Non-cash charges are typically against the depreciation, amortization, and depletion accounts on a company's balance sheet. of $34 million, recorded in cost of products sold, relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the write-down Write-Down Reducing the book value of an asset because it is overvalued compared to the market value. Notes: This is usually reflected in the company's income statement as an expense, thereby reducing net income. of certain intangible assets Intangible Asset An asset that is not physical in nature. Notes: Examples are things like copyrights, patents, intellectual property, and goodwill. These are the opposite of tangible assets. and inventory in the BD Biosciences segment. These charges reduced net income by $20 million and diluted earnings per share by 8 cents. For the third quarter of fiscal 2002, diluted earnings per share were 44 cents and net income was $120 million, including special charges of $12 million, or 4 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. relating to the manufacturing restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). in the BD Medical Systems segment. "Strong revenue growth in all three of our business segments, as well as in most of our international regions, was the driving force behind another sound quarter for BD," said Edward Edward killed his father at his mother’s instigation. [Br. Balladry: Edward in Benét, 302] See : Patricide J. Ludwig Ludwig. For German rulers thus named, use Louis. , Chairman, President and Chief Executive Officer. "Of the many products that added to this quarter's revenue growth, we were especially pleased by the contribution from the BD FACSAria(TM), our recently launched BD Biosciences instrument, which generated $20 million in revenue." Q3 Segment Results In the BD Medical Systems segment, worldwide revenues of $648 million increased 19 percent. The Medical Surgical, Pharmaceutical Systems and Consumer Healthcare units each contributed double-digit dou·ble-dig·it adj. Being between 10 and 99 percent: double-digit inflation. growth to the segment's results. Included in BD Medical Systems revenues were U.S. safety-engineered product sales of $101 million, versus $88 million in the prior year's quarter. The overall growth rate in the segment was offset in part by reduced sales of conventional devices in the U.S. due to the transition to safety-engineered devices. In the BD Clinical Laboratory Solutions segment, worldwide revenues increased 13 percent to $338 million. Revenue growth of 11 percent in the Preanalytical Solutions unit of the segment was attributable attributable emanating from or pertaining to attribute. attributable proportion see attributable risk (below). attributable risk in part to U.S. safety-engineered device sales, which were $66 million, versus $57 million in the prior year's quarter. These results were offset in part by reduced sales of conventional devices due to the transition to safety-engineered devices. Worldwide revenues of the Diagnostic Systems unit of the segment increased 17 percent. This growth reflected strong worldwide sales of its molecular diagnostic platform, BD ProbeTec(TM) ET. In the BD Biosciences segment, worldwide revenues grew 14 percent to $179 million. Revenue growth was driven by strong sales of the new BD FACSAria(TM) cell sorter, which BD Biosciences began shipping at the end of March, and by sales of immunology/cell biology biology, the science that deals with living things. It is broadly divided into zoology, the study of animal life, and botany, the study of plant life. Subdivisions of each of these sciences include cytology (the study of cells), histology (the study of tissues), reagents. This growth was offset in part by continued weaker demand for certain molecular biology molecular biology, scientific study of the molecular basis of life processes, including cellular respiration, excretion, and reproduction. The term molecular biology was coined in 1938 by Warren Weaver, then director of the natural sciences program at the Rockefeller (Clontech) reagents. Non-Cash Charges During the third quarter, the BD Biosciences segment discontinued dis·con·tin·ue v. dis·con·tin·ued, dis·con·tin·u·ing, dis·con·tin·ues v.tr. 1. To stop doing or providing (something); end or abandon: the development of certain products and product applications associated with its BD IMAGN(TM) instrument platform. In connection with this decision, the Company recorded an impairment Impairment 1. A reduction in a company's stated capital. 2. The total capital that is less than the par value of the company's capital stock. Notes: 1. This is usually reduced because of poorly estimated losses or gains. 2. charge of $27 million for related intangible assets and inventory. In addition, as the result of a revised outlook with respect to under-performing portions of its molecular biology (Clontech) product line, BD Biosciences wrote down the value of related inventory and intellectual property by $7 million. In connection with the foregoing decisions, in the third quarter, the Company recorded, in cost of products sold, non-cash charges of $34 million. Q3 Geographic geographic /geo·graph·ic/ (je?o-graf´ik) in pathology, of or referring to a pattern that is well demarcated, resembling outlines on a map. geographic pertaining to geography. Results On a geographic basis, third quarter revenues in the U.S. increased 10 percent to $583 million. Revenues outside the U.S. of $582 million grew 24 percent, or 11 percent at constant foreign exchange rates. International revenues in the third quarter, benefited from favorable foreign exchange as well as strong performance in Europe Europe (y  r`əp), 6th largest continent, c.4,000,000 sq mi (10,360,000 sq km) including adjacent islands (1992 est. pop. 512,000,000). , Canada Canada (kăn`ədə), independent nation (2001 pop. 30,007,094), 3,851,787 sq mi (9,976,128 sq km), N North America. Canada occupies all of North America N of the United States (and E of Alaska) except for Greenland and the French islands of , Japan,
and Asia Pacific, offset in part by the effects of unfavorable
performance and economic conditions in Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. .Nine-Month Results For the nine-month period ended June 30, 2003, reported revenues were $3.351 billion, a 13 percent increase over a year ago, or 9 percent at constant foreign exchange rates. Diluted earnings per share for the nine-month period were $1.46, or $1.54 excluding the aforementioned a·fore·men·tioned adj. Mentioned previously. n. The one or ones mentioned previously. aforementioned Adjective mentioned before Adj. 1. non-cash charges relating to intangible asset impairments and inventory write-downs. For the same period in fiscal 2002, diluted earnings per share were $1.29, or $1.35 before the special charges related to the manufacturing restructuring in the BD Medical Systems segment. Fiscal 2003 Outlook For the fourth quarter, the Company expects diluted earnings per share of 60 cents, and $2.06 for the full fiscal year, or $2.14 excluding the 8 cents of non-cash charges relating to the intangible asset impairments and inventory write-downs included in the third quarter results. These expectations assume that foreign currency exchange rates, in particular as related to the Euro, remain approximately ap·prox·i·mate adj. 1. Almost exact or correct: the approximate time of the accident. 2. at current levels. Conference Call Information A conference call regarding BD's third quarter results and its expectations for the fourth quarter will be broadcast live on BD's website www.bd.com/investors at 8:30 a.m. (ET) Thursday Thursday: see week. , July July: see month. 24, 2003. The conference call will be available for replay on BD's website www.bd.com/investors or at 1-800-391-9851 (domestic) and 1-402-220-9825 (international) through the close of business on July 31, 2003. This news release contains certain non-GAAP financial measures. A reconciliation of these measures to the comparable GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). measures is included in this release and in the attached financial tables. BD is a medical technology company that serves healthcare institutions, life science researchers, clinical laboratories, industry and the general public. BD manufactures and sells a broad range of medical supplies, devices, laboratory equipment and diagnostic products. For the fiscal year ended September September: see month. 30, 2002, BD reported total revenues of $4.033 billion. *** This press release may contain certain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. (as defined under Federal securities laws) regarding BD's performance, including future revenues, products 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 Inferred from circumstances; known indirectly. In its legal application, the term implied is used in contrast with express, where the intention regarding the subject matter is explicitly and directly indicated. or projected in any forward-looking statement. 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; uncertainties of litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. ; BD's ability to achieve sales and earnings forecasts, which are based on sales volume and product mix assumptions, to achieve its cost savings objectives, and to achieve anticipated synergies and other cost savings in connection with acquisitions; changes in regional, national or foreign economic conditions; increases in energy costs; fluctuations in costs and availability of raw materials and in BD's ability to maintain favorable supplier arrangements and relationships; changes in interest or foreign currency exchange rates; delays in product introductions; and changes in health care or other governmental regulation, 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.
BECTON DICKINSON AND COMPANY
CONSOLIDATED INCOME STATEMENTS
(Unaudited; Amounts in thousands, except per-share data)
Three Months Ended June 30,
2003 2002 % Change
-----------------------------------------------------------------
REVENUES $1,165,369 $998,460 16.7
Cost of products sold 622,387 * 514,071 21.1
Selling and administrative 308,475 253,857 21.5
Research and development 60,042 53,037 13.2
Special charges - 11,571 NM
-----------------------------------------------------------------
TOTAL OPERATING COSTS
AND EXPENSES 990,904 832,536 19.0
-----------------------------------------------------------------
OPERATING INCOME 174,465 165,924 5.1
Interest expense, net (9,658) (8,678) 11.3
Other (expense) income, net (2,036) 1,313 NM
-----------------------------------------------------------------
INCOME BEFORE
INCOME TAXES 162,771 158,559 2.7
Income tax provision 32,753 38,834 (15.7)
-----------------------------------------------------------------
NET INCOME $ 130,018 $119,725 8.6
-----------------------------------------------------------------
EARNINGS PER SHARE
Basic $ 0.51 $ 0.46 10.9
Diluted $ 0.49 $ 0.44 11.4
-----------------------------------------------------------------
AVERAGE SHARES OUTSTANDING
Basic 255,038 258,067
Diluted 265,088 269,011
-----------------------------------------------------------------
NM - Not Meaningful
* Includes $34,231 of non-cash charges, as more fully described on
the following page.
Page 1
BECTON DICKINSON AND COMPANY
RECONCILIATION TO PRO FORMA AMOUNTS
Three Months Ended June 30,
(Unaudited; Amounts in thousands, except per-share data)
2003
------------------------------------
As Non-cash Excluding
Reported Charges* Charges
------------------------------------
Gross Profit $ 542,982 $ 34,231 $ 577,213
as a % of revenues 46.6% 49.5%
Operating Income 174,465 34,231 208,696
as a % of revenues 15.0% 17.9%
Net Income 130,018 20,196 150,214
as a % of revenues 11.2% 12.9%
Diluted EPS 0.49 0.08 0.57
2002
------------------------------------
As Special Excluding
Reported Charges** Charges
------------------------------------
Gross Profit $ 484,389 $ - $ 484,389
as a % of revenues 48.5% 48.5%
Operating Income 165,924 11,571 177,495
as a % of revenues 16.6% 17.8%
Net Income 119,725 10,254 129,979
as a % of revenues 12.0% 13.0%
Diluted EPS 0.44 0.04 0.48
* Relates to the fiscal 2003 write-down of certain intangible assets
and inventory in the BD Biosciences segment.
** Relates to the fiscal 2002 manufacturing restructuring in the BD
Medical Systems segment.
Page 2
BECTON DICKINSON AND COMPANY
CONSOLIDATED INCOME STATEMENTS
(Unaudited; Amounts in thousands, except per-share data)
Nine Months Ended June 30,
2003 2002 % Change
-----------------------------------------------------------------
REVENUES $3,351,058 $2,956,377 13.4
Cost of products sold 1,750,854 * 1,536,966 13.9
Selling and administrative 891,454 749,811 18.9
Research and development 179,921 164,588 9.3
Special charges - 21,508 NM
-----------------------------------------------------------------
TOTAL OPERATING COSTS
AND EXPENSES 2,822,229 2,472,873 14.1
-----------------------------------------------------------------
OPERATING INCOME 528,829 483,504 9.4
Interest expense, net (26,944) (27,088) (0.5)
Other (expense) income, net (3,799) 189 NM
-----------------------------------------------------------------
INCOME BEFORE
INCOME TAXES 498,086 456,605 9.1
Income tax provision 112,390 108,019 4.0
-----------------------------------------------------------------
NET INCOME $ 385,696 $ 348,586 10.6
-----------------------------------------------------------------
EARNINGS PER SHARE
Basic $ 1.51 $ 1.34 12.7
Diluted $ 1.46 $ 1.29 13.2
-----------------------------------------------------------------
AVERAGE SHARES OUTSTANDING
Basic 255,008 258,568
Diluted 263,995 269,734
-----------------------------------------------------------------
NM - Not Meaningful
* Includes $34,231 of non-cash charges, as more fully described on
the following page.
Page 3
BECTON DICKINSON AND COMPANY
RECONCILIATION TO PRO FORMA AMOUNTS
Nine Months Ended June 30,
(Unaudited; Amounts in thousands, except per-share data)
2003
------------------------------------
As Non-cash Excluding
Reported Charges* Charges
------------------------------------
Gross Profit $1,600,204 $34,231 $1,634,435
as a % of revenues 47.8% 48.8%
Operating Income 528,829 34,231 563,060
as a % of revenues 15.8% 16.8%
Net Income 385,696 20,196 405,892
as a % of revenues 11.5% 12.1%
Diluted EPS 1.46 0.08 1.54
2002
------------------------------------
As Special Excluding
Reported Charges** Charges
------------------------------------
Gross Profit $1,419,411 $ - $1,419,411
as a % of revenues 48.0% 48.0%
Operating Income 483,504 21,508 505,012
as a % of revenues 16.4% 17.1%
Net Income 348,586 16,692 365,278
as a % of revenues 11.8% 12.4%
Diluted EPS 1.29 0.06 1.35
* Relates to the fiscal 2003 write-down of certain intangible assets
and inventory in the BD Biosciences segment.
** Relates to the fiscal 2002 manufacturing restructuring in the BD
Medical Systems segment.
Page 4
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY SEGMENT AND GEOGRAPHIC AREA
(Unaudited; Amounts in thousands)
Three Months Ended June 30,
2003 2002 % Change
--------------------------------
BD MEDICAL SYSTEMS
------------------
United States $ 306,036 $272,020 12.5
International 342,392 272,156 25.8
-----------------------------------------------------------------
TOTAL $ 648,428 $544,176 19.2
-----------------------------------------------------------------
BD CLINICAL LABORATORY SOLUTIONS
--------------------------------
United States $ 190,888 $174,976 9.1
International 147,295 123,054 19.7
-----------------------------------------------------------------
TOTAL $ 338,183 $298,030 13.5
-----------------------------------------------------------------
BD BIOSCIENCES
--------------
United States $ 86,164 $ 81,653 * 5.5
International 92,594 74,601 * 24.1
-----------------------------------------------------------------
TOTAL $ 178,758 $156,254 14.4
-----------------------------------------------------------------
TOTAL REVENUES
--------------
United States $ 583,088 $528,649 * 10.3
International 582,281 469,811 * 23.9
-----------------------------------------------------------------
TOTAL $1,165,369 $998,460 16.7
-----------------------------------------------------------------
* Prior year data reclassified to conform to current year presentation
Page 5
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY SEGMENT AND GEOGRAPHIC AREA
(Unaudited; Amounts in thousands)
Nine Months Ended June 30,
2003 2002 % Change
----------------------------------
BD MEDICAL SYSTEMS
------------------
United States $ 895,256 $ 791,995 13.0
International 926,628 785,595 18.0
-----------------------------------------------------------------
TOTAL $1,821,884 $1,577,590 15.5
-----------------------------------------------------------------
BD CLINICAL LABORATORY SOLUTIONS
--------------------------------
United States $ 588,626 $ 540,866 8.8
International 438,011 369,570 18.5
-----------------------------------------------------------------
TOTAL $1,026,637 $ 910,436 12.8
-----------------------------------------------------------------
BD BIOSCIENCES
--------------
United States $ 234,046 $ 239,704 * (2.4)
International 268,491 228,647 * 17.4
-----------------------------------------------------------------
TOTAL $ 502,537 $ 468,351 7.3
-----------------------------------------------------------------
TOTAL REVENUES
--------------
United States $1,717,928 $1,572,565 * 9.2
International 1,633,130 1,383,812 * 18.0
-----------------------------------------------------------------
TOTAL $3,351,058 $2,956,377 13.4
-----------------------------------------------------------------
* Prior year data reclassified to conform to current year presentation
Page 6
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND MAJOR PRODUCT GROUPS
Three Months Ended June 30,
(Unaudited; Amounts in thousands)
United States
------------------------------
2003 2002 % Change
------------------------------
BD MEDICAL SYSTEMS
------------------
Medical Surgical $190,831 $175,185 * 8.9
Consumer Health Care 81,329 70,122 * 16.0
Pharmaceutical Systems 28,029 19,909 40.8
Ophthalmic Systems 5,847 6,804 (14.1)
----------------------------------------------------------------
TOTAL $306,036 $272,020 12.5
----------------------------------------------------------------
BD CLINICAL LABORATORY SOLUTIONS
--------------------------------
Preanalytical Solutions $102,869 $ 97,306 5.7
Diagnostic Systems 88,019 77,670 13.3
----------------------------------------------------------------
TOTAL $190,888 $174,976 9.1
----------------------------------------------------------------
BD BIOSCIENCES
--------------
Discovery Labware $ 25,053 $ 26,643 (6.0)
Immunocytometry & Reagents:
Flow Cytometry Instruments
& Reagents 34,960 27,668 26.4
Molecular Biology Reagents 8,091 10,187 * (20.6)
Immunology/Cell Biology
Reagents 18,060 17,155 5.3
----------------------------------------------------------------
Total Immunocytometry & *
Reagents 61,111 55,010 11.1
----------------------------------------------------------------
TOTAL $ 86,164 $ 81,653 * 5.5
----------------------------------------------------------------
TOTAL UNITED STATES $583,088 $528,649 * 10.3
----------------------------------------------------------------
* Prior year data reclassified to conform to current year presentation
Page 7
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND MAJOR PRODUCT GROUPS
Three Months Ended June 30, (continued)
(Unaudited; Amounts in thousands)
International
-------------------------------------------------
% Change
-----------------
Reported FX FX
2003 2002 Neutral Impact
-------------------------------------------------
BD MEDICAL SYSTEMS
------------------
Medical Surgical $ 179,543 $148,457 20.9 12.8 8.1
Consumer Health
Care 55,785 45,361 23.0 10.5 12.5
Pharmaceutical
Systems 99,319 71,210 39.5 17.5 22.0
Ophthalmic Systems 7,745 7,128 8.7 (5.4) 14.1
----------------------------------------------------------------------
TOTAL $ 342,392 $272,156 25.8 13.1 12.7
----------------------------------------------------------------------
BD CLINICAL LABORATORY SOLUTIONS
--------------------------------
Preanalytical
Solutions $ 77,503 $ 65,551 18.2 5.8 12.4
Diagnostic Systems 69,792 57,503 21.4 9.0 12.4
----------------------------------------------------------------------
TOTAL $ 147,295 $123,054 19.7 7.3 12.4
----------------------------------------------------------------------
BD BIOSCIENCES
--------------
Discovery Labware $ 21,596 $ 16,993 27.1 13.1 14.0
Immunocytometry &
Reagents:
Flow Cytometry
Instruments
& Reagents 49,121 38,659 27.1 11.2 15.9
Molecular Biology
Reagents 7,720 8,021 * (3.8) (14.0) 10.2
Immunology/Cell
Biology Reagents 14,157 10,928 29.5 13.7 15.8
----------------------------------------------------------------------
Total
Immunocytometry &
Reagents 70,998 57,608 * 23.2 8.1 15.1
----------------------------------------------------------------------
TOTAL $ 92,594 $ 74,601 * 24.1 9.3 14.8
----------------------------------------------------------------------
TOTAL INTERNATIONAL $ 582,281 $469,811 * 23.9 11.0 12.9
----------------------------------------------------------------------
* Prior year data reclassified to conform to current year presentation
Page 8
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND MAJOR PRODUCT GROUPS
Three Months Ended June 30, (continued)
(Unaudited; Amounts in thousands)
Total
-----------------------------------------------
% Change
-----------------
Reported FX FX
2003 2002 Neutral Impact
-----------------------------------------------
BD MEDICAL SYSTEMS
------------------
Medical Surgical $ 370,374 $323,642 * 14.4 10.7 3.7
Consumer Health Care 137,114 115,483 * 18.7 13.8 4.9
Pharmaceutical
Systems 127,348 91,119 39.8 22.6 17.2
Ophthalmic Systems 13,592 13,932 (2.4) (9.6) 7.2
----------------------------------------------------------------------
TOTAL $ 648,428 $544,176 19.2 12.8 6.4
----------------------------------------------------------------------
BD CLINICAL LABORATORY SOLUTIONS
--------------------------------
Preanalytical
Solutions $ 180,372 $162,857 10.8 5.8 5.0
Diagnostic Systems 157,811 135,173 16.7 11.5 5.2
----------------------------------------------------------------------
TOTAL $ 338,183 $298,030 13.5 8.4 5.1
----------------------------------------------------------------------
BD BIOSCIENCES
--------------
Discovery Labware $ 46,649 $ 43,636 6.9 1.5 5.4
Immunocytometry &
Reagents:
Flow Cytometry
Instruments
& Reagents 84,081 66,327 26.8 17.5 9.3
Molecular Biology
Reagents 15,811 18,208 (13.2) (17.7) 4.5
Immunology/Cell
Biology Reagents 32,217 28,083 14.7 8.6 6.1
----------------------------------------------------------------------
Total
Immunocytometry &
Reagents 132,109 112,618 17.3 9.6 7.7
----------------------------------------------------------------------
TOTAL $ 178,758 $156,254 14.4 7.3 7.1
----------------------------------------------------------------------
TOTAL REVENUES $1,165,369 $998,460 16.7 10.6 6.1
----------------------------------------------------------------------
* Prior year data reclassified to conform to current year presentation
Page 9
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND MAJOR PRODUCT GROUPS
Nine Months Ended June 30,
(Unaudited; Amounts in thousands)
United States
----------------------------------
2003 2002 % Change
----------------------------------
BD MEDICAL SYSTEMS
------------------
Medical Surgical $ 564,313 $ 512,264 * 10.2
Consumer Health Care 240,483 209,337 * 14.9
Pharmaceutical Systems 72,351 50,827 42.3
Ophthalmic Systems 18,109 19,567 (7.5)
----------------------------------------------------------------
TOTAL $ 895,256 $ 791,995 13.0
----------------------------------------------------------------
BD CLINICAL LABORATORY SOLUTIONS
--------------------------------
Preanalytical Solutions $ 306,850 $ 277,118 10.7
Diagnostic Systems 281,776 263,748 6.8
----------------------------------------------------------------
TOTAL $ 588,626 $ 540,866 8.8
----------------------------------------------------------------
BD BIOSCIENCES
--------------
Discovery Labware $ 71,399 $ 72,545 (1.6)
Immunocytometry & Reagents:
Flow Cytometry
Instruments
& Reagents 87,300 88,078 (0.9)
Molecular Biology
Reagents 24,353 30,668 * (20.6)
Immunology/Cell Biology
Reagents 50,994 48,413 5.3
----------------------------------------------------------------
Total Immunocytometry &
Reagents 162,647 167,159 * (2.7)
----------------------------------------------------------------
TOTAL $ 234,046 $ 239,704 * (2.4)
----------------------------------------------------------------
TOTAL UNITED STATES $1,717,928 $1,572,565 * 9.2
----------------------------------------------------------------
* Prior year data reclassified to conform to current year presentation
Page 10
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND MAJOR PRODUCT GROUPS
Nine Months Ended June 30, (continued)
(Unaudited; Amounts in thousands)
International
-------------------------------------------------
% Change
------------------
Reported FX FX
2003 2002 Neutral Impact
-------------------------------------------------
BD MEDICAL SYSTEMS
-------------------
Medical Surgical $ 492,978 $ 438,598 12.4 6.8 5.6
Consumer Health
Care 150,008 136,800 9.7 1.2 8.5
Pharmaceutical
Systems 262,048 190,776 37.4 19.8 17.6
Ophthalmic Systems 21,594 19,421 11.2 (0.5) 11.7
----------------------------------------------------------------------
TOTAL $ 926,628 $ 785,595 18.0 8.8 9.2
----------------------------------------------------------------------
BD CLINICAL LABORATORY SOLUTIONS
--------------------------------
Preanalytical
Solutions $ 216,782 $ 188,802 14.8 5.0 9.8
Diagnostic Systems 221,229 180,768 22.4 13.4 9.0
----------------------------------------------------------------------
TOTAL $ 438,011 $ 369,570 18.5 9.1 9.4
----------------------------------------------------------------------
BD BIOSCIENCES
--------------
Discovery Labware $ 60,511 $ 49,566 22.1 11.3 10.8
Immunocytometry &
Reagents:
Flow Cytometry
Instruments
& Reagents 144,313 123,604 16.8 4.6 12.2
Molecular
Biology
Reagents 24,501 23,999 * 2.1 (6.8) 8.9
Immunology/Cell
Biology Reagents 39,166 31,478 24.4 11.5 12.9
----------------------------------------------------------------------
Total
Immunocytometry &
Reagents 207,980 179,081 * 16.1 4.3 11.8
----------------------------------------------------------------------
TOTAL $ 268,491 $ 228,647 * 17.4 5.8 11.6
----------------------------------------------------------------------
TOTAL INTERNATIONAL $1,633,130 $1,383,812 * 18.0 8.4 9.6
----------------------------------------------------------------------
* Prior year data reclassified to conform to current year presentation
Page 11
BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND MAJOR PRODUCT GROUPS
Nine Months Ended June 30, (continued)
(Unaudited; Amounts in thousands)
Total
-------------------------------------------------
% Change
-----------------
Reported FX FX
2003 2002 Neutral Impact
-------------------------------------------------
BD MEDICAL SYSTEMS
------------------
Medical Surgical $1,057,291 $ 950,862 * 11.2 8.6 2.6
Consumer Health *
Care 390,491 346,137 12.8 9.5 3.3
Pharmaceutical
Systems 334,399 241,603 38.4 24.5 13.9
Ophthalmic Systems 39,703 38,988 1.8 (4.0) 5.8
----------------------------------------------------------------------
TOTAL $1,821,884 $1,577,590 15.5 10.9 4.6
----------------------------------------------------------------------
BD CLINICAL LABORATORY SOLUTIONS
--------------------------------
Preanalytical
Solutions $ 523,632 $ 465,920 12.4 8.4 4.0
Diagnostic Systems 503,005 444,516 13.2 9.5 3.7
----------------------------------------------------------------------
TOTAL $1,026,637 $ 910,436 12.8 8.9 3.9
----------------------------------------------------------------------
BD BIOSCIENCES
--------------
Discovery Labware $ 131,910 $ 122,111 8.0 3.7 4.3
Immunocytometry &
Reagents:
Flow Cytometry
Instruments
& Reagents 231,613 211,682 9.4 2.3 7.1
Molecular
Biology
Reagents 48,854 54,667 (10.6) (14.5) 3.9
Immunology/Cell
Biology Reagents 90,160 79,891 12.9 7.8 5.1
----------------------------------------------------------------------
Total
Immunocytometry &
Reagents 370,627 346,240 7.0 0.9 6.1
----------------------------------------------------------------------
TOTAL $ 502,537 $ 468,351 7.3 1.6 5.7
----------------------------------------------------------------------
TOTAL REVENUES $3,351,058 $2,956,377 13.4 8.8 4.6
----------------------------------------------------------------------
* Prior year data reclassified to conform to current year presentation
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