Summary
Becton, Dickinson and Company (BDX) filed an 8-K on February 2, 2017, to report its financial results for the first fiscal quarter ended December 31, 2016. The filing primarily announced the company's financial performance and provided details on the non-GAAP financial measures used by management to evaluate the business. These non-GAAP measures aim to offer investors a clearer understanding of the company's underlying operational performance by excluding certain items that affect comparability between periods, such as divestitures, foreign currency fluctuations, purchase accounting adjustments, and acquisition-related costs. Investors should note that while BD provides these non-GAAP metrics to supplement GAAP results, they should be considered alongside GAAP figures. The company emphasizes that these adjusted measures may differ from those used by other companies and that excluded items can have a material impact on GAAP financial results. The press release, furnished as an exhibit, contains the detailed financial information.
Key Highlights
- 1BDX reported its financial results for the first fiscal quarter ended December 31, 2016.
- 2The company utilizes and discloses non-GAAP financial measures, including 'comparable' revenue growth and adjusted earnings per share (EPS).
- 3These non-GAAP measures exclude impacts from divestitures (e.g., Respiratory Solutions business), foreign currency translation, purchase accounting adjustments, and acquisition-related costs.
- 4BDX believes these non-GAAP measures provide investors with better insight into underlying operational performance and comparability.
- 5The company also provided estimated revenue and EPS growth for fiscal year 2017 on a comparable, foreign currency neutral basis.
- 6Management uses these non-GAAP measures for performance evaluation, budget planning, and comparisons with peer companies.
- 7The press release containing these financial results is furnished as an exhibit to the 8-K filing.