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Becton, Dickinson And Management Discusses Q3 2012 Results - Earnings Call Transcript

During today's call, we will make forward-looking statements, and it is possible that actual results could differ from our expectations. Factors that could cause such differences appear in our third fiscal quarter press release and in the MD&A sections of our recent SEC filings.

We will also discuss some non-GAAP financial measures with respect to our performance. A reconciliation to GAAP measures can be found in our press release and its related financial schedules and in the slides. A copy of the release, including the financial schedules, is posted on the bd.com website.

Leading the call this morning is Vince Forlenza, Chairman, Chief Executive Officer and President. Also joining us are David Elkins, Executive Vice President and Chief Financial Officer; Bill Kozy, Executive Vice President; and Tom Polen, President of Diagnostics Systems.

It is now my pleasure to turn the call over to Vince.

Vincent A. Forlenza

Thank you, Monique, and good morning, everyone. As we stated in our press release, we were pleased with our third quarter results, which were in line with our expectations.

Growth was driven by our BD Medical and BD Diagnostics segments, and we continue to experience strong growth in international safety and emerging markets. We believe that our revenue and earnings growth this quarter demonstrate that our strategy implementation is on track. We're seeing improved performance in the back half of the fiscal year, as we expected and outlined for you earlier this year.

We continue to face challenges in our Biosciences business in the U.S., which was in line with our expectations. The Biosciences business continues to be impacted by an uncertain research spending environment and lack of overall demand for instruments and research reagents. In other areas of our business, we see utilization in the U.S. as stable but constrained, with some uncertainty in Europe due to continued macroeconomic challenges.

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