Summary
Becton Dickinson & Co. (BDX) filed an 8-K on August 2, 2012, reporting its financial results for the third fiscal quarter ending June 30, 2012. The filing primarily focuses on providing investors with a clearer understanding of the company's operational performance by presenting certain non-GAAP financial measures alongside its GAAP results. These non-GAAP measures, which exclude the impact of foreign currency translation, are used by management to evaluate performance and facilitate period-to-period comparisons. Key non-GAAP metrics highlighted include revenue growth rates and diluted earnings per share (EPS) growth, both adjusted for currency fluctuations. BDX emphasizes that while these measures offer additional insight into underlying business performance, they should be considered supplemental and used in conjunction with their GAAP counterparts, as excluded items can materially impact reported financial results.
Key Highlights
- 1BDX reported its financial results for the third fiscal quarter ending June 30, 2012, via an 8-K filing on August 2, 2012.
- 2The company provided non-GAAP financial measures, including revenue growth rates and EPS growth, adjusted for foreign currency translation effects.
- 3BDX stated that these non-GAAP measures are used by management to better understand underlying operating results and facilitate comparisons to prior periods.
- 4The rationale for presenting non-GAAP measures is to offer investors additional insight into financial results, excluding effects considered outside of underlying operational results or impacting comparability.
- 5The filing explicitly notes that non-GAAP results should not be considered in isolation and are not a substitute for GAAP results.
- 6BDX advises investors to consider the limitations of non-GAAP measures and to evaluate them in conjunction with GAAP results.
- 7The press release announcing these results was furnished as Exhibit 99.1 to the 8-K filing.