Business Context and Reporting Period
Company: Becton, Dickinson and Company (BD)
Filing Type: Form 8-K (Current Report)
Report Date: January 28, 2009
Reporting Period: Fiscal quarter ended December 31, 2008
This filing serves to announce the financial results for the fourth quarter of 2008. The report references a press release (Exhibit 99.1) containing the detailed financial data.
Key Financial Metrics
The provided text does not contain specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. The filing explicitly states that detailed financial measures are contained in the attached press release (Exhibit 99.1).
Non-GAAP Measures: The company reports international and total company revenue growth rates at constant foreign exchange rates to exclude the impact of currency fluctuations and facilitate period-over-period comparisons.
Material Changes
The filing text does not provide specific data regarding material changes in financial performance versus the prior comparable period. It notes that management uses non-GAAP measures to evaluate performance, particularly when comparing to past periods, but does not disclose the results of those comparisons in this document.
Guidance, Outlook, and Risks
Management Commentary: Management utilizes non-GAAP results for budget planning and performance evaluation. They caution that non-GAAP results should not be considered in isolation or as a substitute for GAAP results, as excluded items may materially impact net income, earnings per share, or cash flows.
Risks and Contingencies: The text highlights the limitation that non-GAAP measures may differ from similar measures used by other companies. It also notes that items excluded from non-GAAP calculations can have a material impact on GAAP-calculated financial metrics.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release dated January 28, 2009) for specific revenue, earnings, and cash flow figures.
- Verify the reconciliation between GAAP and non-GAAP financial measures provided in the press release.
- Assess the impact of foreign exchange rate fluctuations on reported revenue growth.
- Confirm the specific items excluded from non-GAAP calculations to understand their effect on net income.