Summary
Becton, Dickinson and Company (BDX) filed an 8-K on February 7, 2012, to report its financial results for the first fiscal quarter ending December 31, 2011. The report primarily highlights the company's use of non-GAAP (Generally Accepted Accounting Principles) financial measures to provide investors with a clearer view of its operational performance, separate from the effects of foreign currency translation and hedging activities. These non-GAAP measures, including revenue growth rates and earnings per share from continuing operations, are presented to help investors understand the underlying business trends and facilitate comparisons to prior periods. Management utilizes these metrics for internal performance evaluation, budget planning, and believes they offer additional insight into BD's financial results. However, the company emphasizes that these non-GAAP figures should be considered supplemental and not a substitute for GAAP-reported results, acknowledging potential limitations and differences from measures used by other companies.
Key Highlights
- 1BDX filed an 8-K on February 7, 2012, reporting Q1 fiscal year 2012 financial results.
- 2The filing focuses on the company's use of non-GAAP financial measures.
- 3Non-GAAP measures are used to present revenue growth and earnings per share (EPS) from continuing operations.
- 4These measures exclude the impact of foreign currency translation and hedging gains/losses.
- 5BDX states that non-GAAP measures help investors understand underlying operating results and comparability to prior periods.
- 6Management uses these non-GAAP metrics for performance evaluation and budget planning.
- 7The company cautions that non-GAAP results are supplemental and should not replace GAAP figures.