8-KEarnings & ResultsExhibits & Filings

BECTON DICKINSON & CO 8-K Report, Financial Results (Aug 2, 2012)

Filed August 2, 2012For Securities:BDX

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.

Frequently Asked Questions

This 8-K filing's primary purpose is to report Becton Dickinson & Co.'s (BDX) financial results for its third fiscal quarter ended June 30, 2012, and to provide supplemental non-GAAP financial measures that management uses to assess operational performance.

BDX is highlighting revenue growth rates (total company, international, segments, and safety-engineered devices) and diluted earnings per share (EPS) growth, all adjusted to exclude the effect of foreign currency translation.

BDX presents non-GAAP measures to provide investors with a better understanding of the company's underlying operational performance by eliminating the impact of foreign currency fluctuations. Management also uses these measures for internal evaluation and comparison to prior periods.

Investors should view these non-GAAP measures as supplemental information that offers additional insight, but they should not be considered in isolation or as a substitute for the company's financial results prepared in accordance with U.S. GAAP. BDX recommends evaluating these measures in conjunction with their GAAP counterparts.