-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, MIlMk+9Du2uj5dHpxy8HydRpmNo9Aq+YQd62XXknxgNGTpomSitHak4VJnuV/FF1 mBnoLC5zOhOshn0CTt52ag== 0000950130-99-006192.txt : 19991108 0000950130-99-006192.hdr.sgml : 19991108 ACCESSION NUMBER: 0000950130-99-006192 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19991104 ITEM INFORMATION: FILED AS OF DATE: 19991105 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BECTON DICKINSON & CO CENTRAL INDEX KEY: 0000010795 STANDARD INDUSTRIAL CLASSIFICATION: SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841] IRS NUMBER: 220760120 STATE OF INCORPORATION: NJ FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-04802 FILM NUMBER: 99741946 BUSINESS ADDRESS: STREET 1: ONE BECTON DR CITY: FRANKLIN LAKES STATE: NJ ZIP: 07417-1880 BUSINESS PHONE: 2018476800 MAIL ADDRESS: STREET 1: ONE BECTON DR CITY: FRANKLIN LAKE STATE: NJ ZIP: 07417 8-K 1 FORM 8-K SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) November 4, 1999 ---------------- BECTON, DICKINSON AND COMPANY - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) New Jersey 001-4802 22-0760120 - -------------------------------------------------------------------------------- (State or other juris- (Commission (IRS Employer Iden- diction of incorporation) File Number) tification Number) 1 Becton Drive, Franklin Lakes, New Jersey 07417-1880 - -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (201) 847-6800 -------------- N/A - -------------------------------------------------------------------------------- (Former name or former addresses if changed since last report.) Item 5. Other Events ------------ Press release dated November 4, 1999. Attached hereto as Exhibit 99, which is incorporated herein by reference, is a copy of the press release. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BECTON, DICKINSON AND COMPANY (Registrant) By: /s/ Bridget M. Healy ---------------------------- Bridget M. Healy Vice President and Secretary Date: November 5, 1999 - 3 - INDEX TO EXHIBIT ----------------- Exhibit Number Description of Exhibit ------ ---------------------- 99 Press Release dated November 4, 1999. EX-99 2 PRESS RELEASE ISSUED ON NOVEMBER 4, 1999 Refer to: Ronald Jasper Director, Investor Relations (201) 847-7160 BECTON DICKINSON ANNOUNCES RECORD REVENUES FOR FISCAL YEAR Franklin Lakes, NJ (November 4, 1999) - Becton, Dickinson and Company (NYSE:BDX) announced today results for its fiscal fourth quarter and full year, which ended September 30, 1999. Full Year Results Revenues for the year were a record $3.418 billion (three billion, four hundred eighteen million dollars), a ten percent increase from last year's $3.117 billion (three billion, one hundred seventeen million dollars). Recent acquisitions contributed to revenue growth. Diluted earnings per share for the year, excluding previously announced restructuring and other charges and in- process research and development charges associated with acquisitions, were $1.49. Reported earnings per share were $1.04 for fiscal 1999, compared with $.90 in fiscal 1998, which also included certain charges. Continued .... -2- By geographic area, revenues in the United States were $1.748 billion (one billion, seven hundred forty-eight million dollars), compared with $1.690 billion (one billion, six hundred ninety million dollars), an increase of three percent. Revenues outside the United States were $1.671 billion (one billion, six hundred seventy-one million dollars), compared with $1.427 billion (one billion, four hundred twenty-seven million dollars) last year, a seventeen percent increase, partly due to recent acquisitions. Foreign currency translation increased non-U.S. revenues by less than one percent. Beginning September 30, 1999, the company reports in three operating segments: medical systems, biosciences, and preanalytical solutions. Medical systems revenues for the year were $1.924 billion (one billion, nine hundred twenty-four million dollars), revenues from biosciences were $986 million, and revenues from preanalytical solutions were $509 million. Fourth Quarter Results Revenues for the fourth quarter were $902 million, an increase of seven percent. Diluted earnings per share were $.42, excluding the impact of the in- process research and development charges associated with the recent acquisition of Clontech Laboratories, Inc. Reported earnings per share were $.29. By business segment, medical systems revenues for the quarter were $521 million, biosciences revenues were $255 million, and preanalytical solutions revenues were $126 million. On a geographic basis, fourth quarter revenues in the United States were $481 million compared with $458 million for the last year ago, while revenues outside the United States were $422 million compared with $385 million in the prior fiscal year's fourth quarter. - Selected Financial Reviews follow - -3- BECTON DICKINSON AND COMPANY SELECTED FINANCIAL SCHEDULES Amounts in thousands, except per-share data Three Months Ended September 30, INCOME STATEMENTS 1999 1998 % Change - --------------------------------------------------------------- REVENUES $ 902,480 $843,239 7.0 Cost of products sold 435,373 403,142 8.0 Selling and administrative 243,885 241,989 0.8 Research and development 86,761 48,615 78.5 - --------------------------------------------------- TOTAL OPERATING COSTS AND EXPENSES 766,019 693,746 10.4 - --------------------------------------------------- OPERATING INCOME 136,461 149,493 (8.7) Interest expense, net (18,546) (17,146) 8.2 Other expense, net (1,759) (1,114) 57.9 - --------------------------------------------------- INCOME BEFORE INCOME TAXES 116,156 131,233 (11.5) Income tax provision 39,833 41,336 (3.6) - --------------------------------------------------- NET INCOME $ 76,323 $ 89,897 (15.1) - --------------------------------------------------- EARNINGS PER SHARE Basic $ $0.30 $ 0.36 (16.7) Diluted $ $0.29 $ 0.34 (14.7) - --------------------------------------------------- AVERAGE SHARES OUTSTANDING Basic 250,732 247,614 Diluted 262,291 265,106 - --------------------------------------------------- Three Months Ended September 30, SUMMARY OF REVENUES 1999 1998 % Change - ----------------------------------------------------------- BY OPERATING SEGMENT Medical Systems $ 521,474 $484,351 7.7 Biosciences 254,955 239,165 6.6 Preanalytical Solutions 126,051 119,723 5.3 - ----------------------------------------------- TOTAL REVENUES $ 902,480 $843,239 7.0 - ----------------------------------------------- BY GEOGRAPHIC AREA United States $ 480,818 $458,117 5.0 International 421,662 385,122 9.5 - ----------------------------------------------- TOTAL REVENUES $ 902,480 $843,239 7.0 - ----------------------------------------------- -4- BECTON DICKINSON AND COMPANY SELECTED FINANCIAL SCHEDULES Amounts in thousands, except per-share data Twelve Months Ended September 30, INCOME STATEMENTS 1999 1998 % Change - ----------------------------------------------------------------------------- REVENUES $3,418,412 $3,116,873 9.7 Cost of products sold 1,711,666 1,541,032 11.1 Selling and administrative 931,929 861,564 8.2 Research and development 254,016 217,900 16.6 Special charges 75,553 90,945 NM - ----------------------------------------------------------------- TOTAL OPERATING COSTS AND EXPENSES 2,973,164 2,711,441 9.7 - ----------------------------------------------------------------- OPERATING INCOME 445,248 405,432 9.8 Interest expense, net (72,052) (56,340) 27.9 Other expense, net (541) (8,226) (93.4) - ----------------------------------------------------------------- INCOME BEFORE INCOME TAXES 372,655 340,866 9.3 Income tax provision 96,936 104,298 (7.1) - ----------------------------------------------------------------- NET INCOME $ 275,719 $ 236,568 16.5 - ----------------------------------------------------------------- EARNINGS PER SHARE Basic $ 1.09 $ 0.95 14.7 Diluted $ 1.04 $ 0.90 15.6 - ----------------------------------------------------------------- AVERAGE SHARES OUTSTANDING Basic 249,595 245,700 Diluted 264,580 262,128 - ----------------------------------------------------------------- NM - Not Meaningful Twelve Months Ended September 30, SUMMARY OF REVENUES 1999 1998 % Change - ---------------------------------------------------------------------------- BY OPERATING SEGMENT Medical Systems $1,923,865 $1,714,952 12.2 Biosciences 985,821 924,157 6.7 Preanalytical Solutions 508,726 477,764 6.5 - ----------------------------------------------------------------- TOTAL REVENUES $3,418,412 $3,116,873 9.7 - ----------------------------------------------------------------- BY GEOGRAPHIC AREA United States $1,747,785 $1,690,282 3.4 International 1,670,627 1,426,591 17.1 - ----------------------------------------------------------------- TOTAL REVENUES $3,418,412 $3,116,873 9.7 - ----------------------------------------------------------------- # # # # -----END PRIVACY-ENHANCED MESSAGE-----