|
Financial
Highlights
(Dollars
in millions, except amounts per share and employees)
|
Years Ended
December 31,
|
1999
|
1998
|
1997
|
1996
|
1995
|
|
Summary of
Operations
|
|
|
|
|
|
|
Sales
|
$1,808.7
|
$1,718.2
|
$1,198.0
|
$1,028.0
|
$930.1
|
| Operating
income before special charges(1) |
$
216.3
|
$
133.9
|
$
104.4
|
$
122.5
|
$110.8
|
|
Earnings before
special and
|
|
|
|
|
|
|
non-recurring
charges, after taxes
|
$
105.9
|
$
44.7
|
$
54.0
|
$
74.7
|
$
66.1
|
|
Net earnings
(loss)
|
$
106.0
|
$
33.5
|
$
(264.4)
|
$
74.7
|
$
48.9
|
|
Diluted earnings
per
|
|
|
|
|
|
|
share before
special charges
|
$
3.57
|
$
1.52
|
$ 1.88
|
$
2.58
|
$
2.29
|
|
Diluted earnings
(loss) per share
|
$
3.57
|
$
1.14
|
$
(9.58)
|
$
2.58
|
$ 1.70
|
|
Dividends paid
per share of common stock
|
$
0.64
|
$
0.61
|
$
0.60
|
$
0.52
|
$ 0.44
|
|
Shares outstanding
(millions)
|
29.0
|
28.4
|
27.6
|
28.0
|
28.3
|
|
Weighted average
common shares and dilutive
|
|
|
|
|
|
|
common share
equivalents (millions)(2)
|
29.7
|
29.3
|
27.6
|
28.9
|
28.8
|
|
Other Information
|
|
|
|
|
|
|
Total assets
|
$2,110.8
|
$2,133.3
|
$2,331.0
|
$
960.1
|
$907.8
|
|
Long-term debt,
less current maturities
|
$
980.7
|
$
982.2
|
$1,181.3
|
$ 176.6
|
$162.7
|
|
Number of employees
at December 31,
|
9,520
|
10,064
|
11,171
|
6,079
|
5,702
|
(1)
Excludes pre-tax special charges. Special charges include: 1) restructure
(credits) charges of $(0.2), $19.1, $59.4, and $27.7 in 1999, 1998, 1997,
and 1995, respectively, and 2) a one time write-off of $282.0 of acquired
in-process research and development relating to the Coulter acquisition
in 1997. Including these special charges, the Company reported operating
income (loss) of $216.5, $114.8, ($237.0), and $83.1 in 1999, 1998, 1997,
and 1995 respectively. The Company did not incur any special charges in
1996.
(2) Under Generally Accepted Accounting Principles (“GAAP”), as the Company
was in a net loss position in 1997, 1.0 million common share equivalents
were not used to compute diluted loss per share, as the effect was antidilutive.
|
