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Becton, Dickinson and Company Message Board

  • delphi123 delphi123 May 19, 1998 10:14 PM Flag

    Bold Action by Clateo

    I'm glad Clateo is beginning to carry out his
    promise to strengthen the bottom line. Here's a positive
    first step.

    Tuesday May 19, 4:19 pm Eastern
    Time

    Company Press Release

    BECTON DICKINSON AND COMPANY
    ANNOUNCES RESTRUCTURING PLANS, ONE-TIME CHARGES FOR THIRD
    FISCAL QUARTER.

    FRANKLIN LAKES, N.J.--(BUSINESS
    WIRE)--May 19, 1998--Becton Dickinson and Company (NYSE:BDX
    - news) announced today that its Board of Directors
    has approved a plan to restructure certain
    manufacturing and administrative activities. This plan, coupled
    with previously announced initiatives, is expected to
    result in approximately $120 million in restructuring,
    one-time, and other charges. The charges will be primarily
    included in the company's results for the third fiscal
    quarter which ends on June 30, 1998. This approved plan
    of action is part of the company's
    ongoing
    efforts to improve the effectiveness and responsiveness
    of its manufacturing, selling and administrative
    operations.

    Implementation of the restructuring plan
    will be completed by the end of 1999. The company said
    that excluding the $120 million in pre-tax charges, it
    is comfortable with consensus earnings per share
    expectations, which are in the $2.70 - $2.75 range.


    Clateo Castellini, chairman, president and chief
    executive officer, said: ``We have developed this plan to
    support our program to double the size of the company by
    2002. It will also benefit our performance beginning
    next year. Achieving our growth aspiration, while
    maintaining 15 percent earnings per share growth is crucial
    if we are to continue to provide a proper return to
    our shareholders as we transform Becton Dickinson for
    its second century.''

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