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In 2002 our
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Sales increased 12.4 percent to $3.24 billion; |
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Net income rose 209 percent to $50.6 million, or 87
cents per diluted share; |
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Cash generated by operations totaled nearly $160 million;
and |
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Outstanding debt was reduced by almost $100 million. |
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The strength of our balance sheet enabled us to continue investing
in acquisitions and reinvesting in our existing businesses.
Three transactions in 2002 brought to 33 the number of companies
we have acquired since 1991, when Fisher Scientific regained
its independence as a public company. Our sales have increased
fourfold during this period, with commensurate growth in our
customer base and portfolio of products and services.
The acquisitions of Maybridge Chemical Holdings Ltd. and Mimotopes
Pty. Ltd. last year strengthened our chemical product and service
offering to life-science customers. Maybridge is a United Kingdom-based
provider of organic compounds and combinatorial libraries used
in drug discovery. Mimotopes, our first Australian company,
is a manufacturer of custom peptides and peptide libraries used
in conducting scientific research. |
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