Actionable news
0
All posts from Actionable news
Actionable news in BDX: BECTON DICKINSON AND CO.,

Becton: Bd Announces Results For 2015 Fourth Fiscal Quarter And Full Year; PROVIDES FISCAL 2016 GUIDANCE

The following excerpt is from the company's SEC filing.

Announces full fiscal year adjusted revenues of $10.302 billion, an increase of 22.0 percent, or 29.5 percent on a currency-neutral basis. On a comparable, currency-neutral basis, adjusted revenues grew 5.3 percent for the full year. As reported, full-year revenues increased 21.7 percent to $10.282 billion.

For the full fiscal year, adjusted diluted earnings per share of $7.16 increased 10.2 percent, or 21.2 percent on a currency-neutral basis. As reported, full-year diluted earnings per share were $3.35.

Expects full-year fiscal 2016 adjusted diluted earnings per share to be between $8.37 and $8.44 including the estimated unfavorable impact from foreign currency. This represents growth of approximately 17.0 to 18.0 percent. On a currency-neutral basis, full-year fiscal 2016 adjusted diluted earnings per share are expected to be between $8.73 and $8.80, which represents growth of 22.0 to 23.0 percent. These fiscal 2016 earnings per share expectations include approximately 22.0 percentage points of accretion from the CareFusion acquisition. As reported, the Company expects full fiscal year diluted earnings per share to be between $6.57 and $6.64.

BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, today reported quarterly adjusted revenues of $3.067 billion for the fourth fiscal quarter ended September 30, 2015, an increase of 39.3 percent over the prior-year period as reported, or 49.1 percent on a currency-neutral basis. On a comparable, currency-neutral basis, fourth quarter adjusted revenues grew 5.1 percent. As reported, fourth quarter revenues were $3.059 billion. For the full fiscal year ended September 30, 2015, BD reported adjusted revenues of $10.302 billion, an increase of 22.0 percent over the prior-year period as reported, or 29.5 percent

on a currency-neutral basis. On a comparable, currency-neutral basis, full fiscal year adjusted revenues grew 5.3 percent. As reported, full fiscal year revenues were $10.282 billion.

Fiscal 2015 was a significant year for BD with the successful completion of the largest acquisition in the Companys history, said Vincent A. Forlenza, Chairman, CEO and President. We are very proud of our strong fourth quarter and fiscal year 2015 results, which exceeded our expectations. We enter fiscal 2016 with continued confidence in our ability to execute our strategy, deliver against our financial commitments, and return value to our shareholders.

All comparable basis revenue growth rates presented throughout this release include the results of CareFusion in the current and prior-year periods. For reconciliations of these revenue amounts and growth rates to the most directly comparable GAAP measures, please refer to the tables at the end of this release.

Fourth Quarter and Full Year Fiscal 2015 Operating Results

Adjusted diluted earnings per share were $1.94, compared with $1.74 in the prior-year period. This represents an increase of 11.5 percent, or 21.8 percent on a currency-neutral basis. On a reported basis, diluted earnings per share for the fourth quarter were $0.84 compared with $1.53 in the prior-year period.

For the full fiscal year ended September 30, 2015, adjusted diluted earnings per share were $7.16, compared with $6.50 in the prior-year period. This represents an increase of 10.2 percent, or 21.2 percent on a currency-neutral basis. On a reported basis, diluted earnings per share were $3.35, compared with $5.99 in the prior-year period.

Current and prior-year adjusted results exclude the impact of the non-cash amortization of intangible assets and other certain specified items. These specified items are detailed in the accompanying reconciliation of reported diluted earnings per share to adjusted diluted earnings per share.

Segment Results

In the BD Medical segment, worldwide adjusted revenues for the quarter were $2.091 billion, an increase of 75.3 percent over the prior-year period as reported, or 86.6 percent on a currency-neutral basis. On a comparable, currency-neutral basis, adjusted Medical revenues grew 5.2 percent, which reflects strong sales across the Medication Management Solutions, Medication and Procedural Solutions, Pharmaceutical Systems, and Diabetes Care units, partially offset by a decline in the Respiratory Solutions unit. On a reported basis, Medical revenues were $2.083 billion.

For the twelve-month period ended September 30, 2015, BD Medical adjusted revenues of $6.480 billion increased 41.7 percent over the prior-year period as reported, or 50.2 percent on a currency-neutral basis. On a comparable, currency-neutral basis, adjusted revenues grew 5.5 percent. On a reported basis, revenues were $6.460 billion.

In the BD Life Sciences segment, worldwide revenues for the quarter were $976 million, a decrease of 3.3 percent from the prior-year period, or an increase of 4.8 percent on a currency-neutral basis. The segments results reflect solid growth in the Preanalytical Systems and Diagnostic Systems units, and moderate growth in the Biosciences unit.

For the twelve-month period ended September 30, 2015, BD Life Sciences revenues of $3.822 billion decreased 1.3 percent from the prior-year period, and increased 5.0 percent on a currency-neutral basis.

Geographic Results

Fourth quarter adjusted revenues in the U.S. of $1.640 billion represent an increase of 88.3 percent over the prior-year period as reported. On a comparable basis, adjusted U.S. revenues increased 4.6 percent. Within the BD Medical segment, growth was driven by strong sales in the Medication Management Solutions and Medication and Procedural Solutions units, partially offset by a decline in the Respiratory Systems unit. Growth in the BD Life Sciences segment was driven by strong performance in the Biosciences unit. On a reported basis, U.S. revenues were $1.632 billion.

Revenues outside of the U.S. were $1.427 billion, representing an increase of 7.2 percent over the prior-year period, or an increase of 23.4 percent on a currency-neutral basis. On a comparable, currency-neutral basis, international revenues grew 5.5 percent which reflects continued strength in Western Europe.

For the twelve-month period ended September 30, 2015, adjusted revenues in the U.S. were $5.090 billion, an increase of 49.0 percent over the prior-year period as reported. On a comparable basis, U.S. revenues grew 4.1 percent. On a reported basis, U.S. revenues were $5.069 billion. Revenues outside of the U.S. were $5.213 billion, an increase of 3.6 percent over the prior-year period as reported, or an increase of 16.2 percent on a currency-neutral basis. On...


More