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"We are pleased that all segments and regions, particularly Europe andAsia, contributed to solid revenue growth," said Edward J. Ludwig, Chairman,President and Chief Executive Officer. "We are also pleased with ouroperating results, which in part, have enabled us to raise our earningsguidance once again despite continued pressure from increasing raw materialcosts."
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Analyses of Third Quarter and Nine-Month Periods of Fiscal Year 2008 and2007 Earnings
Reported diluted earnings per share from continuing operations were $1.18for the third quarter of fiscal 2008 and 95 cents for the third quarter offiscal 2007. For the nine-month period ending June 30, 2008, reported dilutedearnings per share from continuing operations were $3.34. For the nine-monthperiod ending June 30, 2007, reported diluted earnings per share fromcontinuing operations were $2.38.
The following analysis (Table 1) of diluted earnings per share fromcontinuing operations for the three-month and nine-month periods ended June30, 2008 and 2007, identifies the specified items that affect comparability ofresults between periods. As illustrated, diluted earnings per share fromcontinuing operations of $1.18 for the third fiscal quarter of 2008 increasedby 20 percent over diluted earnings per share from continuing operations,excluding the specified item, of 98 cents for the third fiscal quarter of2007. For the nine-month periods, diluted earnings per share from continuingoperations of $3.34 for fiscal 2008 increased by 17 percent over comparablefiscal 2007 diluted earnings per share from continuing operations of $2.86,which exclude the specified items.
Segment Results
In the BD Medical segment, worldwide revenues for the quarter were $1.016billion, representing an increase of 15 percent from the prior year period.Pharmaceutical Systems and Diabetes Care products led revenue growth in thesegment. For the nine-month period ended June 30, 2008, the BD Medicalsegment reported 12 percent revenue growth.
In the BD Diagnostics segment, worldwide revenues for the quarter were$553 million, representing an increase of 13 percent from the prior year'squarter. Sales of safety-engineered devices, TriPath products and infectiousdisease testing systems contributed to revenue growth. For the nine-monthperiod ended June 30, 2008, the BD Diagnostics segment reported 14 percentrevenue growth.
In the BD Biosciences segment, worldwide revenues for the quarter were$298 million, representing an increase of 16 percent from the prior year'squarter. Demand for clinical and research instruments and reagents were theprimary growth drivers. For the nine-month period ended June 30, 2008, the BDBiosciences segment reported 16 percent revenue growth.
Geographic Results
Third quarter revenues in the U.S. were $798 million, representing anincrease of 4 percent over the prior year period. Revenues outside the U.S.were $1.069 billion, representing an increase of 24 percent over the prioryear period, with approximately 13 percentage points of the increase resultingfrom the favorable impact of foreign currency translation.
For the nine-month period ended June 30, 2008, revenues in the U.S. were$2.372 billion, representing an increase of 6 percent over the prior yearperiod. Revenues outside of the U.S. were $2.948 billion, representing anincrease of 20 percent over the prior year
