Becton Dickinson announces year-end results.

FRANKLIN LAKES, N.J.--(BUSINESS WIRE)--Nov. 7, 1995--Becton Dickinson and Company reported record revenues and earnings for both its fiscal year and quarter, which ended September 30, 1995.

Full Year Results

For the fiscal year ended September 30, revenues increased 6 percent over the prior year to $2.713 billion. Earnings per share were $3.59, an increase of 18 percent, on net income of $252 million, which increased by 11 percent.

The company also said that a weaker dollar increased reported revenues for the year by an estimated $86 million. This was largely offset by the impact on revenues of divesting the medical glove and radioimmunoassay businesses, both of which were sold during 1995, and the effect of reduced year-end promotions designed to normalize quarterly revenue patterns.

Operating income for the year improved 22 percent to $397 million, or 14.6 percent of revenues, an increase of almost two percentage points, primarily a result of company actions to improve manufacturing productivity and the absence of special charges which were recorded in 1994.

By business segment, medical supplies and devices revenues increased 6 percent to $1.500 billion, while diagnostic systems products revenues were $1.212 billion for the year, an increase of 7 percent compared with the prior year.

On a geographic basis, revenues in the United States increased 1 percent to $1.438 billion. U.S. revenue growth was adversely impacted by the effects of divestitures and reduced year-end promotions discussed above. Non-U.S. revenues were $1.274 billion, an increase of 12 percent.

The company's chairman, president and chief executive officer, Clateo Castellini said, "We are pleased with our results. Actions taken to enhance productivity have resulted in significant improvements, and strong performance allowed us to begin to take actions in the fourth quarter to normalize our revenue patterns. We expect improvements will continue and this gives us confidence that fiscal 1996 will also show good earnings growth. We also believe that we will show better revenue growth next year as the refinements to our strategic plan, announced a few months ago, will start to affect performance."

Fourth Fiscal Quarter Results

For the fourth quarter, the company reported that earnings per share rose 7 percent to $1.26 from $1.18 for the year-ago quarter. Revenues for the quarter were $722 million, compared with $718 million a year earlier. The company said that, as expected, the divestitures and the reduced year-end sales promotions had a significant impact on fourth quarter revenues.

The weaker dollar increased reported revenues by an estimated $16 million.

Operating income for the quarter was $121 million, an increase of 37 percent, as the company benefited from programs to improve its gross profit margin and the absence of special charges, which were recorded in the fourth quarter of 1994.

By business segment, medical supplies and devices revenues were $403 million for the quarter, while diagnostic systems revenues were $319 million.

On a geographic basis, revenues in the United States were $382 million, while revenues outside the United States were $340 million. Selected Financial Schedules Follow. -0-

               BECTON DICKINSON AND COMPANY
               SELECTED FINANCIAL SCHEDULES
      Thousands of dollars, except per share amounts

                               Three Months Ended September 30,
                               --------------------------------
                                                         %
                                  1995        1994     Change
                               ----------  ---------- ---------
REVENUES                      $  722,114  $  717,579       0.6
Cost of products sold            360,637     385,813      (6.5)
Selling and administrative       202,621     174,601      16.0
Research and development          37,893      38,654      (2.0)
Special charges                        -      30,490    (100.0)
                               ----------  ----------
TOTAL OPERATING COSTS
    AND EXPENSES                 601,151     629,558      (4.5)
                               ----------  ----------
OPERATING INCOME                 120,963      88,021      37.4
Interest expense, net             (9,830)     (9,862)     (0.3)
Other income, net                  9,107      30,183     (69.8)
                               ----------  ----------
INCOME BEFORE INCOME TAXES       120,240     108,342      11.0
Income tax provision              33,667      22,031      52.8
                               ----------  ----------
NET INCOME                    $   86,573  $   86,311       0.3
                               ==========  ==========
EARNINGS PER SHARE            $     1.26  $     1.18       6.8
                               ==========  ==========
Average common and common
equivalent shares outstanding     68,217      72,921
                               ==========  ==========

                          BECTON DICKINSON AND COMPANY
                          SELECTED FINANCIAL SCHEDULES
               Thousands of dollars, except per share amounts

                               Twelve Months Ended September 30
                               --------------------------------
                                                          %
                                  1995        1994     Change
                               ----------  ---------- ---------
REVENUES                      $2,712,525  $2,559,461       6.0

Cost of products sold          1,436,358   1,399,634       2.6
Selling and administrative       735,316     660,072      11.4
Research and development         144,201     144,227         -
Special charges                        -      30,490    (100.0)
                               ----------  ----------
TOTAL OPERATING COSTS
    AND EXPENSES               2,315,875   2,234,423       3.6
                               ----------  ----------
OPERATING INCOME                 396,650     325,038      22.0

Interest expense, net            (42,833)    (47,624)    (10.1)
Other (expense) income, net       (4,239)     18,745    (122.6)
                               ----------  ----------
INCOME BEFORE INCOME TAXES       349,578     296,159      18.0
Income tax provision              97,882      68,985      41.9
                               ----------  ----------
NET INCOME                    $  251,696  $  227,174      10.8
                               ==========  ==========
EARNINGS PER SHARE            $     3.59  $     3.05      17.7
                               ==========  ==========
Average common and common
equivalent shares outstanding     69,201      73,333
                               ==========  ==========

                           BECTON DICKINSON AND COMPANY
                              SUMMARY OF REVENUES
                              Thousands of dollars

                               Three Months Ended September 30,
                               --------------------------------
                                                          %
                                  1995        1994     Change
                               ----------  ---------- ---------
BUSINESS SEGMENT
Medical Supplies and Devices  $  402,661  $  407,896      (1.3)
Diagnostic Systems               319,453     309,683       3.2
                               ----------  ----------
Total                         $  722,114  $  717,579       0.6
                               ==========  ==========
GEOGRAPHIC AREA
Domestic                      $  381,744  $  397,629      (4.0)
International                    340,370     319,950       6.4
                               ----------  ----------
Total                         $  722,114  $  717,579       0.6
                               ==========  ==========

                              Twelve Months Ended September 30,
                               --------------------------------
                                                          %
                                  1995        1994     Change
                               ----------  ---------- ---------
BUSINESS SEGMENT
Medical Supplies and Devices  $1,500,075  $1,421,435       5.5
Diagnostic Systems             1,212,450   1,138,026       6.5
                               ----------  ----------
Total                         $2,712,525  $2,559,461       6.0
                               ==========  ==========
GEOGRAPHIC AREA
Domestic                      $1,438,459  $1,423,060       1.1
International                  1,274,066   1,136,401      12.1
                               ----------  ----------
Total                         $2,712,525  $2,559,461       6.0
                               ==========  ==========

CONTACT: Becton Dickinson and Company

R. Jasper, 201-847-7160