Printer Friendly

FISHER SCIENTIFIC INTERNATIONAL REPORTS THIRD QUARTER RESULTS

 HAMPTON, N.H., Oct. 25 /PRNewswire/ -- Fisher Scientific International Inc. (NYSE: FSH) continued to achieve higher sales and earnings in the latest quarter, as sales rose 23.4 percent to $260.2 million and net income climbed 16.9 percent to $9.7 million, or 59 cents per primary share, for the three months ended Sept. 30, 1993.
 For the corresponding period of last year, the oldest and largest provider of instruments, equipment and other products to the scientific community in North America had sales of $210.9 million and net income of $8.3 million, or 52 cents per share.
 "Fisher's excellent results reflect the acceleration of Fisher's domestic and international market development, including five acquisitions since late last year, as well as the continuing benefits of ongoing cost-control efforts," Paul M. Montrone, president and chief executive officer, said.
 For the first nine months of 1993, sales increased 19.9 percent to $729.3 million from sales of $608.5 million for the first three quarters of 1992, and net income gained 23.4 percent to $24.3 million, or $1.49 per primary share, from net income of $19.7 million, or $1.26 per share, last year.
 FISHER SCIENTIFIC INTERNATIONAL INC.
 FINANCIAL HIGHLIGHTS
 (in millions, except per share amount)
 Three Months Ended Nine Months Ended
 Sept. 30, Sept. 30,
 1993 1992 1993 1992
 Sales $260.2 $210.9 $729.3 $608.5
 Cost of sales 184.9 145.0 512.3 416.5
 SG&A 56.6 52.9 172.0 157.2
 Inc. from operations 18.7 13.0 45.0 34.8
 Interest and other
 (inc.) expense, net 1.7 (1.6) 2.1 (.2)
 Inc. bef. inc. taxes 17.0 14.6 42.9 35.0
 Inc. tax provision 7.3 6.3 18.6 15.3
 Net income $9.7 $8.3 $24.3 $19.7
 Primary net earns.
 per common share(a) 59 cents 52 cents $1.49 $1.26
 Net earns. per common
 share, assuming full
 dilution of
 convertible debt(a) 54 cents 52 cents $1.41 $1.26
 Primary weighted avg.
 common shares
 outstanding 16.4 16.0(b) 16.3 15.7(b)
 Weighted average
 common shares
 outstanding,
 assuming full
 conversion of
 convertible debt 20.0 16.0(b) 19.1 15.7(b)
 (a) Primary and fully diluted net earnings per common share amounts are based on an increased number of shares that would have been outstanding assuming conversion of outstanding stock options, using the treasury stock method. In addition, fully diluted net earnings per common share amounts are based on the increased number of shares and the reduction of interest expense that would have resulted assuming conversion of the company's convertible subordinated notes.
 (b) Reflects Fisher's March 1992 sale of 975,000 shares of common stock in connection with the sale by Fisher's former parent of its remaining 6.5 million shares of Fisher Common Stock.
 -0- 10/25/93
 /CONTACT: Norman Ritter of Fisher Scientific International, 603-929-2322/
 (FSH)


CO: Fisher Scientific International, Inc. ST: New Hampshire IN: MTC SU: ERN

JL-DJ -- NE010 -- 6497 10/25/93 16:16 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 25, 1993
Words:523
Previous Article:FUNCO ANNOUNCES RESULTS
Next Article:NOVACARE REPORTS A 24 PERCENT INCREASE IN FIRST QUARTER OPERATING INCOME
Topics:

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters