Updated on 2 August 2012
BD third fiscal quarter reflects reclassification of Discovery Labware
Singapore: Becton, Dickinson and Company (BD), reported quarterly revenues of $1.981 billion for the third fiscal quarter ending June 30, 2012, representing an increase of 1.5 percent from the prior-year period, or 4.9 percent on a foreign currency-neutral basis.
Mr Vincent A Forlenza, chairman, CEO and president, "We are very pleased with our third quarter results. As we anticipated, our revenue and earnings growth improved this quarter, demonstrating that our strategy implementation is on track and in line with our previously communicated expectations."
In April 2012, the company signed a definitive agreement to sell its BD Biosciences, Discovery Labware unit, excluding its Advanced Bioprocessing platform. The transaction is expected to be completed by the end of calendar year 2012, subject to the satisfaction of customary closing conditions, including consultations and regulatory approvals. The results of operations associated with this disposal group have been reclassified as discontinued operations for all quarters and years referred to in this release.
Diluted earnings per share for the third quarter of $1.59 less the $0.07 from discontinued operations resulted in earnings per share from continuing operations of $1.52.
Also included for reference in the attached financial tables are the company's consolidated income statements reflecting the reclassification change of the Discovery Labware disposal group to discontinued operations, for the first two quarters of fiscal year 2012 and for all periods in fiscal year 2011.