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For the full fiscal year ended September 30, 2007, BD reported recordrevenues of $6.360 billion, representing an increase of 11 percent over theprior year, which reflects an overall estimated 3 percent favorable impactfrom foreign currency translation that affected all segments.
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"We are pleased with our solid finish to another successful year duringwhich BD exceeded its financial and operating goals," said Edward J. Ludwig,Chairman, President and Chief Executive Officer. "Our performance was strongacross all three segments. We continue to invest in innovation whiledelivering double-digit earnings growth. Strong cash flow driven by operatingmargin expansion enables us to return value to shareholders through dividendincreases and share repurchases. We are enthusiastic about our outlook forfiscal 2008."
Fourth Quarter Earnings and Analysis of Full Fiscal Year 2007 and 2006Earnings
Reported diluted earnings per share from continuing operations of 98 centsfor the fourth quarter increased by 15 percent over diluted earnings per sharefrom continuing operations of 85 cents for the fourth fiscal quarter of 2006.
For the twelve-month period ending September 30, 2007, reported dilutedearnings per share were $3.36. The following analysis (Table 1) of dilutedearnings per share from continuing operations for the twelve-month periodsended September 30, 2007 and 2006 identifies specified items that affect thecomparability of results between periods. As illustrated, diluted earningsper share from continuing operations, excluding specified items, of $3.84 forfiscal 2007 increased by 15 percent over diluted earnings per share fromcontinuing operations, excluding specified items, of $3.34 for fiscal 2006.
Segment Results
In the BD Medical segment, worldwide revenues for the quarter were $868million, representing an increase of 11 percent from the prior year period.For the full fiscal year ended September 30, 2007, the BD Medical segmentreported 10 percent revenue growth to $3.421 billion. Strong sales in thePharmaceutical Systems unit continued to significantly contribute to thegrowth of the segment.
In the BD Diagnostics segment, worldwide revenues for the quarter were$498 million, representing an increase of 16 percent from the prior year'squarter. This growth includes $29 million of revenues from TriPath, a makerof innovative solutions to improve the clinical management of cancer, whichwas acquired at the end of the first quarter of fiscal 2007. For the fullfiscal year ended September 30, 2007, the BD Diagnostics segment reportedrevenue growth of 11 percent to $1.905 billion, which includes $88 million ofrevenues from TriPath.
In the BD Biosciences segment, worldwide revenues for the quarter were$285 million, representing an increase of 14 percent from the prior yearperiod. Sales of flow cytometry and bioimaging instruments, flow cytometryreagents, and advanced bioprocessing products contributed to growth. For thefull fiscal year ended September 30, 2007, the BD Biosciences segment reported13 percent revenue growth to $1.034 billion, resulting from continued strongsales of those same products.
Geographic Results
Fourth quarter revenues in the U.S. were $790 million, representing anincrease of 12 percent over the prior year period. Revenues outside the U.S.were $861 million, representing an increase of 13 percent over the prio
