10-QPeriod: Q3 FY2001

BECTON DICKINSON & CO Quarterly Report for Q3 Ended Jun 30, 2001

Filed August 13, 2001For Securities:BDX

Summary

Becton Dickinson and Company (BDX) reported for the quarter ending June 30, 2001, showing a 4% increase in revenue to $954 million compared to the prior year's quarter. For the nine months ended June 30, 2001, revenue grew 2% to $2.76 billion. Revenue growth was somewhat dampened by foreign currency translation, which reduced reported revenues. Despite some regional economic headwinds and a decline in sales performance in Asia Pacific, the company saw broad-based growth across its key segments: Medical Systems, Clinical Laboratory Solutions, and Biosciences. The company maintained a strong financial position with total debt representing 36.4% of total capital as of June 30, 2001, a decrease from the previous year. Net income for the quarter rose to $124 million, or $0.46 per diluted share, compared to $114 million, or $0.43 per diluted share, in the prior year's quarter. Management highlighted disciplined expense management and a favorable tax rate contributing to the improved profitability.

Key Highlights

  • 1Revenue increased 4% year-over-year to $954 million for the third quarter of fiscal year 2001.
  • 2Net income for the third quarter rose to $124.3 million, or $0.46 per diluted share, up from $114.4 million, or $0.43 per diluted share, in the prior year.
  • 3International revenues showed growth of 5% for the quarter, excluding the impact of unfavorable foreign currency translation.
  • 4The Medical Systems segment saw revenue growth driven by advanced protection devices and consumer healthcare products.
  • 5Clinical Laboratory Solutions revenue increased 6% for the quarter, bolstered by strong sales of advanced protection devices.
  • 6Biosciences segment experienced robust 11% revenue growth, contributing to overall performance.
  • 7Total debt as a percentage of total capital decreased to 36.4% as of June 30, 2001, indicating improved financial leverage.

Frequently Asked Questions

Becton Dickinson and Company reported a 4% increase in revenue for the third quarter ended June 30, 2001, reaching $954 million, compared to $914 million in the same period of the prior year. This growth was achieved despite negative impacts from foreign currency translation.

Profitability improved, with net income rising to $124.3 million ($0.46 diluted EPS) for the third quarter of 2001, up from $114.4 million ($0.43 diluted EPS) in the prior year's quarter. This improvement was attributed to revenue growth, disciplined expense management, and a favorable tax rate.

Revenue growth was observed across all major segments. The Medical Systems segment benefited from strong sales of advanced protection devices and consumer healthcare products. Clinical Laboratory Solutions saw growth from advanced protection devices and a favorable comparison to the prior year. The Biosciences segment also showed strong growth, driven by both product groups and contributions from recent acquisitions.

The company maintains a strong financial position. Total debt as a percentage of total capital decreased to 36.4% as of June 30, 2001, down from 43.1% in the prior year. BDX believes it has the capacity for additional borrowings if needed for ordinary business operations.