UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) November 3, 2009
STERIS Corporation
(Exact name of registrant as specified in its charter)
Ohio | 1-14643 | 34-1482024 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
5960 Heisley Road, Mentor, Ohio | 44060-1834 | |
(Address of principal executive offices) | (Zip Code) |
Registrants telephone number, including area code (440) 354-2600
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
ITEM 2.02. | Results of Operations and Financial Condition. |
On November 3, 2009, STERIS issued a press release announcing financial results for its fiscal 2010 second quarter ended September 30, 2009. A copy of this press release is attached hereto as Exhibit 99.1.
The information contained in Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, is being furnished to the Securities and Exchange Commission and shall not be deemed to be filed for the purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that Section. Furthermore, the information contained in Item 2.02 of this Current Report on Form 8-K shall not be deemed to be incorporated by reference into any registration statement or other document filed pursuant to the Securities Act of 1933.
ITEM 9.01. | Financial Statements and Exhibits. |
(d) Exhibits
Exhibit No. |
Description | |
99.1 | Press Release issued by STERIS Corporation on November 3, 2009 regarding its results of operations and financial condition for its fiscal 2010 second quarter ended September 30, 2009. |
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
STERIS CORPORATION | ||
By: | /S/ MICHAEL J. TOKICH | |
Michael J. Tokich | ||
Senior Vice President and Chief Financial Officer |
Date: November 3, 2009
3
EXHIBIT INDEX
Exhibit |
Exhibit Description | |
99.1 | Press Release issued by STERIS Corporation on November 3, 2009 regarding its results of operations and financial condition for its fiscal 2010 second quarter ended September 30, 2009. |
4
Exhibit 99.1
STERIS CORPORATION
NEWS ANNOUNCEMENT
FOR IMMEDIATE RELEASE
STERIS CORPORATION ANNOUNCES FISCAL 2010 SECOND QUARTER RESULTS
Second Quarter Earnings Per Share Increases 13% to $0.54
Company Increases Earnings Per Share Outlook for Fiscal 2010
Board of Directors Approves Special Dividend of $2.00 Per Share
Mentor, Ohio (November 3, 2009) - STERIS Corporation (NYSE: STE) today announced financial results for its fiscal 2010 second quarter ended September 30, 2009. Fiscal 2010 second quarter revenues were $314.2 million compared with $323.1 million in the second quarter of fiscal 2009, a decline of 3%. On a constant currency basis, revenues decreased 2%. Operating income increased 7% to $50.1 million, or 15.9% of revenues, compared with $47.0 million, or 14.5% of revenues in the second quarter of fiscal 2009. Fiscal 2010 second quarter net income was $32.1 million, or $0.54 per diluted share, compared with net income of $28.8 million, or $0.48 per diluted share, in the second quarter of fiscal 2009.
We are pleased with the quarterly improvements in our business, in particular revenue from our healthcare capital equipment products, said Walt Rosebrough, President and Chief Executive Officer of STERIS. As we anticipated, our year-over-year revenue decline improved this quarter, and our expectation is that this trend will continue for the remainder of our fiscal year. We have also benefited from favorable foreign currency exchange rates and lower raw material costs so far this year, and we have continued to improve efficiencies. These trends combined to expand our operating margins even in the face of lower revenue. As a result, we are increasing our full year earnings guidance while maintaining our expectations for revenue.
Segment Results
Healthcare revenues in the quarter were $223.0 million compared with $227.8 million in the second quarter of fiscal 2009, a decline of 2%. Strength in consumable revenues was offset by declines in capital equipment and service revenues. Backlog levels at quarter end were $129.9 million, an increase of 5% compared with the same time last year. Operating income was $36.4 million, an increase of 11% compared with the prior year period, driven by efficiency initiatives, lower raw material costs and favorable foreign currency exchange rates.
STERIS Corporation
News Announcement
Page 2
Life Sciences second quarter revenues were $54.4 million compared with $57.2 million in the second quarter of fiscal 2009, a decline of 5%. Double digit growth in consumable revenues was more than offset by declines in capital equipment and service revenues. Backlog levels at quarter end were $46.5 million, a decline of 5% compared with the prior year period. Life Sciences operating income was $8.5 million, an increase of 37% compared with the prior year period, driven primarily by improved operating efficiencies.
Fiscal 2010 second quarter revenues for Isomedix Services were $34.7 million compared with $37.0 million in the same period last year, a decline of 6%. Revenues were affected by the previously disclosed sale of two facilities during fiscal 2009. Operating income was $7.4 million in the quarter compared with $10.2 million in the second quarter of last year. Operating income in the second quarter of fiscal 2009 included the impact of a facility sale, which added $2.1 million to operating income.
Cash Flow
Net cash provided by operations for the first half of fiscal 2010 was $92.4 million, compared with net cash provided by operations of $68.7 million in the same period last year. Free cash flow (see note 1) for the first half of fiscal 2010 was $74.4 million, compared with free cash flow of $57.3 million in the prior year period. The growth in free cash flow was driven by lower working capital requirements.
Dividend Announcement
The Company also announced today that STERISs Board of Directors has authorized a regular quarterly dividend in the amount of $0.11 per common share. In addition, the Board of Directors has authorized a special dividend of $2.00 per common share to be paid with the regular quarterly dividend. The combined dividend is payable December 22, 2009 to shareholders of record at the close of business on November 24, 2009.
The decision by our Board of Directors to return cash to our shareholders through a special dividend is a reflection of our current cash position, free cash flow generation and the confidence we have in the Companys future, said Rosebrough. STERISs strong balance sheet allows us to make this distribution without hindering our ability to pursue growth alternatives.
STERIS Corporation
News Announcement
Page 3
Outlook
Based upon first half results and current anticipated trends, the Company is updating its outlook for the full fiscal year. The Companys expectations for revenue are unchanged at flat to down mid-single digits from fiscal 2009 levels. The Company is increasing its expected range for earnings per diluted share, and currently anticipates approximately $1.90 to $2.05 for the full fiscal year, compared with prior guidance of $1.80 to $2.00. This outlook reflects certain key assumptions, some of which are listed below:
| Healthcare revenues are anticipated to be flat to down mid-single digits, including the previously announced impact of reduced revenues from SYSTEM 1, which is now anticipated to reduce revenues by approximately $20 million in fiscal 2010. |
| Life Sciences revenues are anticipated to be flat. |
| Isomedix revenues are anticipated to decline in the mid-single digits. |
| The Company has assumed the average forward exchange rates for the U.S. dollar and key international currencies as of September 30, 2009. These rates reflect a weakening of the U.S. dollar, creating a headwind for earnings in the second half of the fiscal year. |
| The Company anticipates no raw material cost increases during the second half of the fiscal year. |
| EBIT as a percent of revenue is now anticipated to be approximately 15%. |
| The anticipated effective tax rate is approximately 35%. |
For the full fiscal year 2010, free cash flow (see note 1) is anticipated to be approximately $125 million and capital expenditures are anticipated to be approximately $50 million.
Conference Call
In conjunction with this release, STERIS Corporation management will host a conference call today at 10:00 a.m. Eastern time. The conference call can be heard live over the Internet at www.steris-ir.com or via phone by dialing 1-800-369-8428 in the United States and Canada, and 1-773-799-3378 internationally, then referencing the password STERIS.
For those unable to listen to the conference call live, a replay will be available from 12:00 p.m. Eastern time on November 3, 2009, until 5:00 p.m. Eastern time on November 17, 2009, either over the
STERIS Corporation
News Announcement
Page 4
Internet at www.steris-ir.com or via phone by calling 1-866-487-7528 in the United States and Canada, and 1-203-369-1648 internationally.
About STERIS
The mission of STERIS Corporation is to provide a healthier today and safer tomorrow through knowledgeable people and innovative infection prevention, decontamination and health science technologies, products and services. The Company has approximately 5,000 dedicated employees around the world working together to supply a broad array of solutions by offering a combination of equipment, consumables and services to healthcare, pharmaceutical, industrial and government Customers. The Company is listed on the New York Stock Exchange under the symbol STE. For more information, visit www.steris.com.
Contact: Julie Winter, Director, Investor Relations at 440-392-7245.
(1) Free cash flow is a non-GAAP number used by the Company as a measure to gauge its ability to fund future growth opportunities, repurchase common shares, and pay cash dividends. Free cash flow is defined as cash flows from operating activities less purchases of property, plant, equipment and intangibles, net, plus proceeds from the sale of property, plant, equipment and intangibles. STERISs calculation of free cash flow may vary from other companies.
# # #
This news release, and the conference call referenced here, may contain statements concerning certain trends, expectations, forecasts, estimates, or other forward-looking information affecting or relating to the Company or its industry that are intended to qualify for the protections afforded forward-looking statements under the Private Securities Litigation Reform Act of 1995 and other laws and regulations. Forward-looking statements speak only as to the date of this report, and may be identified by the use of forward-looking terms such as may, will, expects, believes, anticipates, plans, estimates, projects, targets, forecasts, outlook, potential, confidence, improve, optimistic, comfortable, trend, and seeks, or the negative of such terms or other variations on such terms or comparable terminology. Many important factors could cause actual results to differ materially from those in the forward-looking statements including, without limitation, disruption of production or supplies, changes in market conditions, political events, pending or future claims or litigation, competitive factors, technology advances, actions of regulatory agencies, and changes in laws or government regulations or the application or interpretation thereof. Other risk factors are described in the Companys Form 10-K and other securities filings. Many of these important factors are outside STERISs control. No assurances can be provided as to any outcome from litigation, regulatory action, administrative proceedings, government investigations, warning letters, cost reductions, business strategies, level of share repurchases or dividends, earnings and revenue trends, expense reduction or other future financial results. Unless legally required, the Company does not undertake to update or revise any forward-looking statements even if events make clear that any projected results, express or implied, will not be realized. Other potential risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, (a) the potential for increased pressure on pricing that leads to erosion of profit margins, (b) the possibility that market demand will not develop for new technologies, products or applications, or the
STERIS Corporation
News Announcement
Page 5
Companys business initiatives will take longer, cost more or produce lower benefits than anticipated, (c) the possibility that application of or compliance with laws, court rulings, regulations, regulatory actions, including without limitation previously disclosed FDA warning letters and government investigations, certifications or other requirements or standards may delay or prevent new product introductions, affect the production and marketing of existing products, or otherwise affect Company performance, results, or value, (d) the potential of international unrest or effects of fluctuations in currencies, tax assessments or rates, raw material costs, benefit or retirement plan costs, or other regulatory compliance costs, (e) the possibility of reduced demand, or reductions in the rate of growth in demand, for the Companys products and services, (f) the possibility that anticipated cost savings or other results may not be achieved, or that transition, labor, competition, timing, execution, regulatory, governmental, or other issues or risks associated with the matters described in this release, and the conference call referenced here, may adversely impact Company performance, results, or value, (g) the effect of the credit crisis on our ability, as well as the ability of our customers and suppliers, to adequately access the credit markets when needed, and (h) those risks described in our Annual Report on Form 10-K for the year ended March 31, 2009, filed with the SEC on May 30, 2009, under Item 1A, Risk Factors.
STERIS Corporation
Consolidated Condensed Statements of Income
(In thousands, except per share data)
Three Months Ended September 30, |
Six Months Ended September 30, |
||||||||||||||
2009 | 2008 | 2009 | 2008 | ||||||||||||
(Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | ||||||||||||
Revenues |
$ | 314,229 | $ | 323,127 | $ | 597,772 | $ | 634,692 | |||||||
Cost of revenues |
181,574 | 190,764 | 340,281 | 371,828 | |||||||||||
Gross profit |
132,655 | 132,363 | 257,491 | 262,864 | |||||||||||
Operating expenses: |
|||||||||||||||
Selling, general, and administrative |
74,516 | 77,290 | 149,121 | 164,638 | |||||||||||
Research and development |
8,189 | 8,068 | 15,769 | 16,347 | |||||||||||
Restructuring expense |
(115 | ) | 37 | (327 | ) | (129 | ) | ||||||||
Total operating expenses |
82,590 | 85,395 | 164,563 | 180,856 | |||||||||||
Income from operations |
50,065 | 46,968 | 92,928 | 82,008 | |||||||||||
Non-operating expense, net |
2,852 | 1,978 | 5,718 | 3,363 | |||||||||||
Income tax expense |
15,129 | 16,196 | 29,584 | 24,351 | |||||||||||
Net income |
$ | 32,084 | $ | 28,794 | $ | 57,626 | $ | 54,294 | |||||||
Earnings per common share (EPS) data: |
|||||||||||||||
Basic |
$ | 0.55 | $ | 0.49 | $ | 0.98 | $ | 0.92 | |||||||
Diluted |
$ | 0.54 | $ | 0.48 | $ | 0.97 | $ | 0.90 | |||||||
Cash dividends declared per common share outstanding |
$ | 0.11 | $ | 0.08 | $ | 0.22 | $ | 0.14 | |||||||
Weighted average number of common shares outstanding used in EPS computation: |
|||||||||||||||
Basic number of common shares outstanding |
58,654 | 59,312 | 58,585 | 59,003 | |||||||||||
Diluted number of common shares outstanding |
59,418 | 60,376 | 59,201 | 60,012 | |||||||||||
STERIS Corporation Consolidated Condensed Balance Sheets (In thousands) |
| ||||||||||||||
September 30, 2009 |
March 31, 2009 |
||||||||||||||
(Unaudited) | |||||||||||||||
Assets |
|||||||||||||||
Current assets: |
|||||||||||||||
Cash and cash equivalents |
$ | 223,758 | $ | 154,180 | |||||||||||
Accounts receivable, net |
214,359 | 238,438 | |||||||||||||
Inventories, net |
128,147 | 130,218 | |||||||||||||
Other current assets |
27,187 | 30,294 | |||||||||||||
Total Current Assets |
593,451 | 553,130 | |||||||||||||
Property, plant, and equipment, net |
349,045 | 350,996 | |||||||||||||
Goodwill and intangible assets, net |
312,521 | 305,189 | |||||||||||||
Other assets |
8,219 | 7,624 | |||||||||||||
Total Assets |
$ | 1,263,236 | $ | 1,216,939 | |||||||||||
Liabilities and Equity |
|||||||||||||||
Current liabilities: |
|||||||||||||||
Accounts payable |
$ | 56,828 | $ | 68,573 | |||||||||||
Other current liabilities |
121,472 | 133,453 | |||||||||||||
Total Current Liabilities |
178,300 | 202,026 | |||||||||||||
Long-term debt |
210,000 | 210,000 | |||||||||||||
Other liabilities |
74,162 | 87,177 | |||||||||||||
Equity |
800,774 | 717,736 | |||||||||||||
Total Liabilities and Equity |
$ | 1,263,236 | $ | 1,216,939 | |||||||||||
STERIS Corporation
Segment Data
(In thousands)
Three Months Ended September 30, |
Six Months Ended September 30, |
|||||||||||||||
2009 | 2008 | 2009 | 2008 | |||||||||||||
(Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | |||||||||||||
Segment Revenues: |
||||||||||||||||
Healthcare |
$ | 223,006 | $ | 227,836 | $ | 423,610 | $ | 451,901 | ||||||||
Life Sciences |
54,401 | 57,151 | 100,517 | 105,190 | ||||||||||||
STERIS Isomedix Services |
34,735 | 36,971 | 70,142 | 73,834 | ||||||||||||
Total Reportable Segments |
312,142 | 321,958 | 594,269 | 630,925 | ||||||||||||
Corporate and Other |
2,087 | 1,169 | 3,503 | 3,767 | ||||||||||||
Total Segment Revenues |
$ | 314,229 | $ | 323,127 | $ | 597,772 | $ | 634,692 | ||||||||
Segment Operating Income (Loss): |
||||||||||||||||
Healthcare |
$ | 36,366 | $ | 32,698 | $ | 68,469 | $ | 61,928 | ||||||||
Life Sciences |
8,540 | 6,228 | 13,319 | 7,275 | ||||||||||||
STERIS Isomedix Services |
7,401 | 10,211 | 15,740 | 18,398 | ||||||||||||
Total Reportable Segments |
52,307 | 49,137 | 97,528 | 87,601 | ||||||||||||
Corporate and Other |
(2,242 | ) | (2,169 | ) | (4,600 | ) | (5,593 | ) | ||||||||
Total Segment Operating Income |
$ | 50,065 | $ | 46,968 | $ | 92,928 | $ | 82,008 | ||||||||
STERIS Corporation
Consolidated Condensed Statements of Cash Flows
(In thousands)
Six Months Ended September 30, |
||||||||
2009 | 2008 | |||||||
(Unaudited) | (Unaudited) | |||||||
Operating Activities: |
||||||||
Net income |
$ | 57,626 | $ | 54,294 | ||||
Non-cash items |
32,945 | 34,607 | ||||||
Changes in operating assets and liabilities |
1,837 | (20,210 | ) | |||||
Net cash provided by operating activities |
92,408 | 68,691 | ||||||
Investing Activities: |
||||||||
Purchases of property, plant, equipment, and intangibles, net |
(18,543 | ) | (20,872 | ) | ||||
Proceeds from sale of property, plant, equipment and intangibles |
509 | 9,506 | ||||||
Net cash used in investing activities |
(18,034 | ) | (11,366 | ) | ||||
Financing Activities: |
||||||||
Proceeds from the issuance of long-term obligations |
| 150,000 | ||||||
Payments under credit facilities, net |
| (79,180 | ) | |||||
Deferred financing fees and debt issuance costs |
| (476 | ) | |||||
Repurchases of common shares |
(289 | ) | (50,210 | ) | ||||
Cash dividends paid to common shareholders |
(12,894 | ) | (8,275 | ) | ||||
Tax benefit from stock options exercised |
463 | 8,732 | ||||||
Stock options and other equity transactions, net |
2,102 | 32,956 | ||||||
Net cash (used in) provided by financing activities |
(10,618 | ) | 53,547 | |||||
Effect of exchange rate changes on cash and cash equivalents |
5,822 | (2,521 | ) | |||||
Increase in cash and cash equivalents |
69,578 | 108,351 | ||||||
Cash and cash equivalents at beginning of period |
154,180 | 51,868 | ||||||
Cash and cash equivalents at end of period |
$ | 223,758 | $ | 160,219 | ||||
STERIS Corporation
Non-GAAP Disclosures (Unaudited)
(In thousands, except per share data)
The following table presents financial measures which are considered to be non-GAAP financial measures under Securities Exchange Commissions rules. Free cash flow is defined by the Company as cash flows from operating activities less purchases of property, plant, equipment and intangibles, net (capital expenditures) plus proceeds from the sale of property, plant, equipment and intangibles. The Company uses free cash flow as a measure to gauge its ability to fund future growth opportunities, repurchase common shares, and pay cash dividends. STERISs calculation of free cash flow may vary from other companies.
Six Months Ended September 30, |
Outlook 2010 |
|||||||||||||
2009 | 2008 | |||||||||||||
(Unaudited) | (Unaudited) | |||||||||||||
Calculation of Free Cash Flow: |
||||||||||||||
Cash flows from operating activities |
$ | 92,408 | $ | 68,691 | $ | 175,000 | ||||||||
Purchases of property, plant, equipment, and intangibles, net |
(18,543 | ) | $ | (20,872 | ) | (50,000 | ) | |||||||
Proceeds from the sale of property, plant, equipment, and intangibles |
509 | $ | 9,506 | | ||||||||||
Free Cash Flow |
$ | 74,374 | $ | 57,325 | $ | 125,000 | ||||||||
STERIS Corporation
Supplemental Financial Data (Unaudited)
Second Quarter Fiscal 2010
As of September 30, 2009
FY 2010 | FY 2009 | |||||||||||||||||||||||||||||||
Q1 | Q2 | Q1 | Q2 | Q3 | Q4 | Total | ||||||||||||||||||||||||||
Total Company Revenues |
||||||||||||||||||||||||||||||||
Capital |
$ | 92,703 | $ | 119,146 | $ | 120,117 | $ | 130,313 | $ | 129,563 | $ | 156,654 | $ | 536,647 | ||||||||||||||||||
Consumables |
80,797 | 79,989 | 75,465 | 73,543 | 73,745 | 72,129 | 294,882 | |||||||||||||||||||||||||
Service |
110,043 | 115,094 | 115,983 | 119,271 | 116,159 | 115,583 | 466,996 | |||||||||||||||||||||||||
Total Recurring |
190,840 | 195,083 | 191,448 | 192,814 | 189,904 | 187,712 | 761,878 | |||||||||||||||||||||||||
Total Revenues |
$ | 283,543 | $ | 314,229 | $ | 311,565 | $ | 323,127 | $ | 319,467 | $ | 344,366 | $ | 1,298,525 | ||||||||||||||||||
United States Revenues |
$ | 223,806 | $ | 238,292 | $ | 241,219 | $ | 245,139 | $ | 250,355 | $ | 256,774 | $ | 993,487 | ||||||||||||||||||
United States Revenues as a % of Total |
79 | % | 76 | % | 77 | % | 76 | % | 78 | % | 75 | % | 77 | % | ||||||||||||||||||
International Revenues |
$ | 59,737 | $ | 75,937 | $ | 70,346 | $ | 77,988 | $ | 69,112 | $ | 87,592 | $ | 305,038 | ||||||||||||||||||
International Revenues as % of Total |
21 | % | 24 | % | 23 | % | 24 | % | 22 | % | 25 | % | 23 | % | ||||||||||||||||||
Segment Data |
Q1 | Q2 | Q1 | Q2 | Q3 | Q4 | Total | |||||||||||||||||||||||||
Healthcare |
||||||||||||||||||||||||||||||||
Revenues |
||||||||||||||||||||||||||||||||
Capital |
$ | 76,837 | $ | 99,737 | $ | 100,915 | $ | 106,576 | $ | 109,221 | $ | 130,137 | $ | 446,849 | ||||||||||||||||||
Consumables |
66,731 | 64,038 | 62,684 | 59,990 | 60,217 | 57,851 | 240,742 | |||||||||||||||||||||||||
Service |
57,036 | 59,231 | 60,466 | 61,270 | 60,739 | 61,197 | 243,672 | |||||||||||||||||||||||||
Total Recurring |
123,767 | 123,269 | 123,150 | 121,260 | 120,956 | 119,048 | 484,414 | |||||||||||||||||||||||||
Total Healthcare Revenues |
$ | 200,604 | $ | 223,006 | $ | 224,065 | $ | 227,836 | $ | 230,177 | $ | 249,185 | $ | 931,263 | ||||||||||||||||||
Operating Profit/(Loss) |
32,102 | 36,366 | 29,230 | 32,698 | 32,406 | 38,267 | 132,601 | |||||||||||||||||||||||||
Life Sciences |
||||||||||||||||||||||||||||||||
Revenues |
||||||||||||||||||||||||||||||||
Capital |
$ | 15,866 | $ | 19,374 | $ | 18,721 | $ | 23,980 | $ | 20,292 | $ | 26,219 | $ | 89,212 | ||||||||||||||||||
Consumables |
14,066 | 15,951 | 12,783 | 13,552 | 13,528 | 14,278 | 54,141 | |||||||||||||||||||||||||
Service |
16,184 | 19,076 | 16,535 | 19,619 | 18,967 | 18,227 | 73,348 | |||||||||||||||||||||||||
Total Recurring |
30,250 | 35,027 | 29,318 | 33,171 | 32,495 | 32,505 | 127,489 | |||||||||||||||||||||||||
Total Life Sciences Revenues |
$ | 46,116 | $ | 54,401 | $ | 48,039 | $ | 57,151 | $ | 52,787 | $ | 58,724 | $ | 216,701 | ||||||||||||||||||
Operating Profit/(Loss) |
4,779 | 8,540 | 1,047 | 6,228 | 7,151 | 3,987 | 18,413 | |||||||||||||||||||||||||
Isomedix Services |
||||||||||||||||||||||||||||||||
Revenues |
$ | 35,407 | $ | 34,735 | $ | 36,863 | $ | 36,971 | $ | 34,642 | $ | 34,169 | $ | 142,645 | ||||||||||||||||||
Operating Profit (Loss) |
8,339 | 7,401 | 8,187 | 10,211 | 8,453 | 7,912 | 34,763 | |||||||||||||||||||||||||
Corporate and Other |
||||||||||||||||||||||||||||||||
Revenues |
$ | 1,416 | $ | 2,087 | $ | 2,598 | $ | 1,169 | $ | 1,861 | $ | 2,288 | $ | 7,916 | ||||||||||||||||||
Operating Profit (Loss) |
(2,358 | ) | (2,242 | ) | (3,424 | ) | (2,169 | ) | (2,192 | ) | (2,547 | ) | (10,332 | ) | ||||||||||||||||||
Other Data |
Q1 | Q2 | Q1 | Q2 | Q3 | Q4 | Total | |||||||||||||||||||||||||
Healthcare Backlog |
$ | 132,391 | $ | 129,937 | $ | 113,856 | $ | 124,135 | $ | 133,863 | $ | 119,790 | $ | 119,790 | ||||||||||||||||||
Life Sciences Backlog |
46,257 | 46,492 | 49,776 | 48,712 | 50,170 | 45,231 | 45,231 | |||||||||||||||||||||||||
Total Backlog |
$ | 178,648 | $ | 176,429 | $ | 163,632 | $ | 172,847 | $ | 184,033 | $ | 165,021 | $ | 165,021 | ||||||||||||||||||
Free Cash Flow |
$ | 24,440 | $ | 49,934 | $ | 18,119 | $ | 39,206 | $ | 32,276 | $ | 56,235 | $ | 145,836 | ||||||||||||||||||
Net Debt |
$ | 33,928 | $ | (13,758 | ) | $ | 129,222 | $ | 90,581 | $ | 104,250 | $ | 55,820 | $ | 55,820 |
This supplemental data is consistent with publicly disclosed information provided in quarterly conference calls, earnings releases and SEC filings, and is subject to all definitions, precautions and limitations contained in those disclosures. Please see the Company's most recent Form 10-Q for definitions (and reconciliation where appropriate) of backlog, free cash flow and net debt.