What is the main purpose of this 8-K filing?

The main purpose of this 8-K filing is to officially announce Becton, Dickinson and Company's (BD) financial results for its first fiscal quarter of fiscal year 2006. It also serves to furnish a press release containing these results and to provide extensive reconciliations of non-GAAP financial measures to GAAP.

What are the key non-GAAP measures being adjusted and why?

BD is adjusting several non-GAAP measures, including revenues, selling and administrative expense, operating income, income taxes, and earnings per share. These adjustments are made to exclude items such as GeneOhm operations, insurance settlements, and specific tax impacts (like reversals of tax reserves and changes in tax laws). The company provides these adjusted figures to offer investors a better understanding of underlying operational performance and to facilitate comparisons across periods, as these excluded items can obscure true operating trends.

What is the projected diluted EPS for the upcoming quarter and year?

For the three months ending March 31, 2006, BD projects diluted EPS from continuing operations to be in the range of $0.78-$0.79. For the six months ending March 31, 2006, the projected diluted EPS is between $1.63-$1.64. Forward-looking estimates for the six and twelve months ending September 30, 2006, are also provided, ranging from $1.57-$1.60 and $3.20-$3.24 respectively, before considering specific exclusions.

How does the anticipated acquisition of GeneOhm Sciences, Inc. impact these financial results?

The projected financial results, particularly earnings per share, are presented with an exclusion for the expected dilutive impact of the anticipated acquisition of GeneOhm Sciences, Inc. This is done to improve comparability to prior periods where this impact was not present. It's important to note that these projections do not yet reflect any in-process R&D charges that may be recorded in connection with this acquisition.

BDX 8-K: Earnings & Results

Summary

Becton, Dickinson and Company (BD) filed this 8-K on January 26, 2006, to announce its financial results for the first fiscal quarter of fiscal year 2006. The filing primarily focuses on providing guidance and reconciliations for non-GAAP financial measures, including diluted EPS from continuing operations. The company is providing these adjusted figures to offer investors a clearer view of underlying operational performance, excluding the impacts of GeneOhm operations, insurance settlements, and certain tax-related items. Key to investors is the projected diluted EPS from continuing operations, which is estimated to be between $0.78-$0.79 for the three months ending March 31, 2006, and $1.63-$1.64 for the six months ending March 31, 2006. The company also provides forward-looking estimates for the six and twelve months ending September 30, 2006. These projections are presented both on a GAAP basis and with various exclusions, highlighting the company's efforts to demonstrate consistent operational trends.

Key Highlights

1BD announced its first fiscal quarter 2006 financial results via an 8-K filing on January 26, 2006.
2The filing includes detailed reconciliations of non-GAAP financial measures to GAAP, primarily focusing on diluted EPS from continuing operations.
3Projected diluted EPS from continuing operations for the three months ending March 31, 2006, is estimated at $0.78-$0.79.
4Projected diluted EPS from continuing operations for the six months ending March 31, 2006, is estimated at $1.63-$1.64.
5The company provides forward-looking EPS estimates for the six and twelve months ending September 30, 2006.
6Adjustments exclude the impact of GeneOhm operations, insurance settlements, and certain tax items to provide a clearer view of underlying performance.
7The report also notes that projections do not reflect potential in-process R&D charges related to the anticipated acquisition of GeneOhm Sciences, Inc.

BECTON DICKINSON & CO 8-K Report, Financial Results (Jan 26, 2006)

Summary

Key Highlights

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