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BD Announces Results for 2011 Second Fiscal Quarter

FRANKLIN LAKES, N.J., April 26, 2011 /PRNewswire via COMTEX/ --

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.

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

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





































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
































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


































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


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















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













































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









































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

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













































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























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

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.




















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.




















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,



Reported


Adjusted


Adjusted Growth


Foreign Currency


FY10 Hedge


Total


Adjusted 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.




























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,



Reported


Adjusted


Adjusted Growth


Foreign Currency


FY10 Hedge


Total


Adjusted 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.





























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.



SOURCE BD (Becton, Dickinson and Company)