Summary
Becton, Dickinson and Company (BDX) reported its financial results for the fiscal second quarter ended March 31, 2015. The quarter was marked by a significant event: the completion of the acquisition of CareFusion Corporation on March 17, 2015. This transformative acquisition, valued at approximately $12.5 billion, is expected to create a global leader in medication management and patient safety solutions. Financially, the company experienced a 1.0% decrease in revenue to $2.051 billion compared to the prior year, largely due to an unfavorable foreign currency translation impact of 5.9%. Despite this revenue dip, operational performance showed resilience, with strong sales in safety-engineered products and continued growth in key segments. Net income for the quarter was $216 million, down from $287 million in the prior year, resulting in diluted earnings per share of $1.08, compared to $1.45. The company also reported significant acquisition-related costs, including financing, transaction, integration, and restructuring expenses. The balance sheet reflects the impact of the CareFusion acquisition, with substantial increases in goodwill, intangible assets, and long-term debt. The company's financial position remains strong, with $2.0 billion in cash and equivalents and short-term investments at quarter-end. BDX is focused on integrating CareFusion and leveraging the combined entity's strengths to drive future growth and efficiencies.
Financial Highlights
51 data points| Revenue | $2.05B |
| Cost of Revenue | $1.00B |
| Gross Profit | $1.05B |
| R&D Expenses | $129.00M |
| SG&A Expenses | $511.00M |
| Operating Expenses | $1.76B |
| Operating Income | $293.00M |
| Interest Expense | $91.00M |
| Net Income | $216.00M |
| EPS (Basic) | $1.10 |
| EPS (Diluted) | $1.08 |
| Shares Outstanding (Basic) | 196.09M |
| Shares Outstanding (Diluted) | 199.94M |
Key Highlights
- 1Acquisition of CareFusion Corporation completed on March 17, 2015, for approximately $12.5 billion.
- 2Second quarter revenue decreased 1.0% to $2.051 billion, impacted by a 5.9% unfavorable foreign currency translation effect.
- 3Net income for the quarter was $216 million, down from $287 million in the prior year, with diluted EPS of $1.08 versus $1.45.
- 4Significant increase in long-term debt due to financing for the CareFusion acquisition, totaling $12.1 billion at quarter-end.
- 5Goodwill and intangible assets increased substantially due to the CareFusion acquisition, reflecting significant brand and technology valuations.
- 6Operating cash flow remained solid at $514 million for the six months ended March 31, 2015.
- 7The company's share repurchase program was suspended for the remainder of fiscal year 2015 due to the CareFusion acquisition.