8-KEarnings & ResultsExhibits & Filings

BECTON DICKINSON & CO 8-K Report, Financial Results (Feb 5, 2013)

Filed February 5, 2013For Securities:BDX

Summary

Becton, Dickinson and Company (BDX) filed an 8-K on February 5, 2013, to report its financial results for the first fiscal quarter ending December 31, 2012. The filing primarily serves to furnish the press release detailing these results. Investors should note that BD utilizes non-GAAP measures, specifically highlighting revenue and earnings per share (EPS) growth after excluding the impact of foreign currency translation. This approach is intended to provide a clearer understanding of the company's underlying operational performance and facilitate period-over-period comparisons. Furthermore, the company provided its estimated EPS guidance for fiscal year 2013, which also excludes the anticipated effects of foreign currency translation and the newly enacted U.S. medical device excise tax. BD also adjusted its fiscal year 2012 EPS for comparison purposes by excluding a pension settlement charge from the prior year's fourth quarter, which management does not consider part of ordinary operations. These adjustments aim to present a more comparable and insightful view of the company's financial trajectory to investors.

Key Highlights

  • 1BDX announced its first fiscal quarter 2013 financial results ending December 31, 2012, via an 8-K filing.
  • 2The company presented revenue and EPS growth rates excluding the impact of foreign currency translation to better reflect underlying operational performance.
  • 3BDX provided fiscal year 2013 EPS guidance, also adjusted for foreign currency translation.
  • 4The fiscal year 2013 EPS guidance excludes the estimated impact of the U.S. medical device excise tax, which became effective during the year.
  • 5For comparative purposes, fiscal year 2012 EPS was adjusted to exclude a pension settlement charge from Q4 FY12, which is not considered part of ordinary operations.
  • 6The filing primarily consists of furnishing a press release (Exhibit 99.1) detailing these financial results and disclosures.

Frequently Asked Questions

The main purpose of this 8-K filing is to publicly announce and furnish the press release containing Becton, Dickinson and Company's (BDX) financial results for its first fiscal quarter ended December 31, 2012, and to provide forward-looking guidance.

BDX presents these non-GAAP measures, such as revenue and EPS growth rates excluding foreign currency translation, to provide investors with a clearer view of the company's underlying operational performance and to facilitate more meaningful comparisons between different fiscal periods. They believe these adjustments help to understand the core business trends without the volatility of currency fluctuations.

The fiscal year 2013 EPS guidance is adjusted to exclude two primary items: the estimated impact of foreign currency translation and the estimated impact of the U.S. medical device excise tax, which is a new tax implemented under U.S. healthcare reform. These adjustments are intended to provide a more comparable outlook to prior periods and to reflect anticipated underlying performance.

BDX ensures comparability by adjusting its fiscal year 2012 EPS to exclude a pension settlement charge recorded in the fourth quarter of fiscal year 2012. Management considers this charge to be outside of ordinary operations, and its exclusion from the prior year's results allows for a better comparison of the fiscal year 2013 guidance against a more normalized baseline.