Summary
Becton Dickinson & Co (BDX) filed an 8-K on April 25, 2003, reporting preliminary financial results for the second quarter ended March 31, 2003. The filing highlights the company's use of non-GAAP financial measures to provide investors with a clearer view of operational performance, excluding the impact of foreign currency fluctuations and a special restructuring charge from prior periods. Investors should note that these non-GAAP measures, such as revenue growth at constant foreign exchange rates and adjusted earnings per share, are presented alongside GAAP measures. The company believes these provide valuable insights for comparing performance across periods and understanding core operating results without the volatility of currency markets or one-time charges.
Key Highlights
- 1BDX announced preliminary Q2 2003 financial results on April 25, 2003.
- 2The filing references a press release (Exhibit 99.1) detailing these results.
- 3BDX is using non-GAAP financial measures to enhance investor understanding.
- 4Revenue growth is being presented at constant foreign exchange rates to neutralize currency impacts.
- 5Earnings per share for prior periods are adjusted to exclude a special manufacturing restructuring charge.
- 6Management uses these non-GAAP measures for internal performance evaluation.
- 7Investors are advised to consider these non-GAAP measures in addition to, not as a substitute for, GAAP measures.