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MEDEX ANNOUNCES RESTRUCTURING OF OPERATIONS, IMPACT ON FOURTH QUARTER EARNINGS

 HILLIARD, Ohio, July 22 /PRNewswire/ -- Medex, Inc. (NASDAQ-NMS: MDEX) today announced that it is restructuring certain domestic and international operations to better serve the changing health care marketplace.
 According to Phillip D. Messinger, the company's president and chief executive officer, a series of management changes combined with the previously announced reorganization of the company's sales and marketing operations will result in a charge of approximately $1.2 million to the company's pre-tax results of operations for the fourth quarter, which ended June 30, 1993.
 "We're taking the necessary steps to restructure Medex to be even more responsive to our customers, more cost-competitive to serve the rapidly changing health care industry and more accountable to our shareholders," said Messinger.
 The management changes involve three company officers. Robert F. Durbin, 57, chief financial officer, has announced his early retirement from the company. Durbin's retirement is effective Sept. 30, 1993, and the company has initiated a search for his replacement.
 Thomas P. Frank has resigned from his position as vice president of corporate research and development. Francis E. Griffin, 61, vice president of international development, also has left the company. Both Frank's and Griffin's responsibilities have been assumed by existing personnel. These management changes follow the earlier announcement of C. Craig Waldbillig's retirement as chief executive officer.
 Another appointment, not part of the reorganization, includes Roger Davis, a seven-year veteran of Medex. He has been promoted from vice president of operations at Medfusion, Inc., a subsidiary in Duluth, Ga., to general manager of that unit. He will assume the Medfusion responsibilities of William D. Arthur III who has resigned as a vice president of Medex and Medfusion's president to leave the company for another position.
 Previously announced officer promotions include Messinger's promotion to chief executive officer, Terry L. Sanborn's promotion to executive vice president and chief operating officer and Michael J. Barilla's promotion to senior vice president of operations and administration.
 Regarding the fourth quarter's performance, Messinger said he expects sales to be approximately $24 million. He said he anticipates fourth quarter earnings, excluding the restructuring charges, will be higher than the previous quarter but will not exceed the fourth quarter of fiscal 1992. Fourth quarter earnings are expected to be announced in late August.
 Messinger also said the company now plans to adopt the Statement of Financial Accounting Standards (SFAS) No. 109, "Accounting for Income Taxes(A)," in the first quarter of its 1994 fiscal year. This will permit the company additional time to complete and analyze the complex calculations required to implement this statement. Revised preliminary estimates indicate the adoption of this statement will have a minimal positive impact on the company's 1994 annual financial results.
 The company previously reported that the adoption of SFAS No. 109 would be in the fourth quarter of fiscal 1993 and had indicated in earlier estimates that the impact of SFAS No. 109 would be a reduction of earnings per share of approximately $.05.
 Medex designs, manufactures and distributes a wide range of disposable medical products for critical and acute care. Life support products include disposable sets for intravenous fluid and drug administration and invasive pressure monitoring as well as products used in anesthesia, intensive care, cardiac catheterization, oncology and pain management. The company operates subsidiaries in the United States, United Kingdom, Germany and France.
 Medex stock is traded over-the-counter on the NASDAQ National Market System under the MDEX symbol.
 (A) In February 1992, the Financial Accounting Standards Board issued SFAS No. 109, "Accounting for Income Taxes," which must be adopted by no later than fiscal 1994.
 -0- 7/22/93
 /CONTACT: Phillip D. Messinger of Medex, Inc., 614-876-2413/
 (MDEX)


CO: Medex, Inc. ST: Ohio IN: MTC SU: RCN

KL -- CL009 -- 4453 07/22/93 10:52 EDT
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Date:Jul 22, 1993
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