Summary
This 8-K filing from Becton, Dickinson and Company (BDX), dated May 1, 2012, reports on the company's financial results for its second fiscal quarter ending March 31, 2012. The primary focus of the filing is the announcement of these quarterly results, as detailed in a press release furnished as an exhibit. Investors should note that BD is presenting certain financial measures that differ from Generally Accepted Accounting Principles (GAAP), specifically revenue growth and earnings per share from continuing operations, after excluding the impact of foreign currency translation and related hedging activities. Management utilizes these non-GAAP measures to gain a clearer understanding of the company's underlying operational performance and to facilitate period-to-period comparisons, believing they offer additional insight beyond GAAP figures. While these non-GAAP measures are provided for supplemental investor information, the company explicitly states that they should not be considered in isolation and may differ from similar measures used by other companies. Investors are advised to review these measures in conjunction with the company's official GAAP results to obtain a comprehensive view of BDX's financial condition and operational performance.
Key Highlights
- 1Becton, Dickinson and Company (BDX) filed an 8-K on May 1, 2012, to report its financial results for the second fiscal quarter ended March 31, 2012.
- 2The filing includes a press release (Exhibit 99.1) detailing the company's quarterly financial performance.
- 3BDX is presenting non-GAAP financial measures, specifically revenue growth and earnings per share (EPS) from continuing operations.
- 4These non-GAAP measures exclude the impact of foreign currency translation, including gains or losses from hedging activities.
- 5The company believes these currency-neutral measures provide a better understanding of underlying operating results and facilitate historical comparisons.
- 6Management uses these non-GAAP measures for performance evaluation, budget planning, and assessing underlying operational results.
- 7BDX emphasizes that these non-GAAP results are supplemental, should not be viewed in isolation, and must be considered alongside GAAP results.