Summary
Becton, Dickinson and Company (BDX) filed an 8-K on August 4, 2016, to report its financial results for the third fiscal quarter ending June 30, 2016. The filing primarily serves to furnish a press release detailing these results, which includes a significant focus on non-GAAP (Generally Accepted Accounting Principles) financial measures. These non-GAAP measures are presented to provide investors with a clearer view of the company's underlying operational performance by adjusting for factors such as acquisition-related impacts (specifically the write-down of deferred revenue from the CareFusion acquisition), foreign currency fluctuations, and changes in distribution agreements. Management believes these adjustments enhance the understanding of BD's core business performance and comparability to prior periods. The company is providing these adjusted revenue and earnings per share (EPS) figures to help investors better assess the ongoing business trends and performance, separate from the effects of significant one-time or non-operational items. This approach is intended to offer a more consistent and transparent view of BD's financial health and operational efficiency to stakeholders.
Key Highlights
- 1BDX filed an 8-K on August 4, 2016, to announce its Q3 fiscal year 2016 financial results.
- 2The primary purpose of the filing is to furnish a press release containing these financial results.
- 3The company is providing "adjusted" non-GAAP financial measures for revenue and earnings per share (EPS).
- 4Adjustments include the impact of the CareFusion acquisition's deferred revenue write-down.
- 5Foreign currency fluctuations are also adjusted for in both revenue and EPS calculations.
- 6Specific adjustments are made for a distribution agreement change within the Respiratory Solutions unit.
- 7Management utilizes these non-GAAP measures to assess operational performance, budget planning, and comparability with peers.