Summary

Other Scenarios:

Buyer: Kyphon Inc. (KYPH) Last Price: 70.97 Market Cap.: 3.26B
Target: Arrow International, Inc. (ARRO) Last Price: 45.48 Market Cap.: 2.06B

Lines of Business Summary:

Product Summary:

Overlap & Complementary Sectors

Sector Buyer Target # of Focused Companies
Healthcare 934
Biopharmaceuticals   377
Medical Devices 257

- Focused. Denotes that the company is considered focused in this area. In general, Focused Companies draw the majority of their earnings in the sector/product area specified.

- Sector Pure-Plays. Denotes that the company is focused in the selected sector and generates nearly all earnings in the sector/product area specified.

- Sector Participation. Denotes that the company develops products in this line of business.

Sample Products in Similar Lines of Business

Sample Products in Complementary Lines of Business
Buyer (Total: 25)
  • KyphX Express Bone Biopsy Device
  • KyphX Latitude Curette
  • KyphX Bone Biopsy Device
  • KyphX Exact Inflatable Bone Tamp
Target (Total: 86)
  • FlexTip Plus/TheraCath Epidural Kit
  • Epidural Needle Series
  • 7cc Luer Slip Loss of Resistance Syringe
  • Single Shot Epidural Anesthesia Kit
Buyer

n/a
Target
  • ChloraPrep

Business Relationship Summary:

Top Key Suppliers

Top Key Customers
Buyer (Total: 0)

n/a
Target (Total: 3)
  • Kilroy Realty Corporation (KRC)
  • QAD Inc. (QADI)
  • Enturia, Inc.
Buyer (Total: 0)

n/a
Target (Total: 0)

n/a

Key Financial Summary:

Key Metrics

  Buyer Target
Number of Employees 1,090 4,000
Revenue Per Employee 531,110.1 130,854.5
Total Revenue 144.3 130.5
Total Expenses 122.2 108.4
Other Revenue 0.0 0.0
Cost of Revenue 19.5 64.4
SG&A Expense 83.8 35.8
Research & Development 13.5 7.0
Other Operating Expense 0.0 0.0
Operating Income 22.1 22.1
Unusual Income 0.0 1.2
LT Debt to Capital 54.42 0
Fwd P/E 62.70 n/a
Fwd P/Rev 5.55 n/a
Book Value 336.1 556.3
Curr Portion of LTD/Cap Lease 0.0 1.0

Individual Company Summary

Focused

Buyer

Focused (): Healthcare > Medical Devices > Orthopedics > Surgical > Procedure Specific > Bone Loss Reconstruction > General

Target

Focused (): Healthcare > Medical Devices > Drug Delivery > Infusion Therapy > Vascular Access

Business Description

Buyer

Kyphon Inc. is a global medical device company specializing in the design, manufacture and marketing of medical devices to treat and restore spinal anatomy using minimally invasive technology. The Company's technology for performing balloon kyphoplasty are used primarily by spine specialists, including orthopedic surgeons and neurosurgeons, interventional radiologists, and interventional neuroradiologists who repair compression fractures of the spine caused by osteoporosis, trauma, cancer or benign lesions through minimally invasive spine surgeries. In January 2007, the Company completed the acquisition of St. Francis Medical Technologies, Inc., a California-based company that manufactures the X-STOP Interspinous Process Decompression (IPD) System. In January 2006, the Company acquired InnoSpine, Inc. (InnoSpine) a company focused on developing and marketing its technology platform for the diagnosis and potential treatment of axial low back pain due to disc degeneration.

Target

Arrow International, Inc. (Arrow) develops, manufactures and markets a range of clinically advanced, disposable catheters and related products for critical and cardiac care. The Company's critical care products are used principally for central vascular access in the administration of fluids, drugs and blood products, patient monitoring and diagnostic purposes. These products are used by anesthesiologists, critical care specialists, surgeons, cardiologists, nephrologists, emergency and trauma physicians, and other healthcare providers. Arrow's cardiac care products are used by interventional cardiologists, cardiac surgeons, interventional radiologists and electrophysiologists for purposes, such as the diagnosis and treatment of heart and vascular disease, and to provide short-term cardiac assist following cardiac surgery, serious heart attack or balloon angioplasty. In October 2007, Teleflex Incorporated completed the acquisition of Arrow.

Deal Summary

Key Ratios

  Buyer Target
Gross Margin % 86.26 50.38
Operating Margin % 8.85 17.71
Quick Ratio 1.66 2.01
Current Ratio 2.18 3.02
Coverage Ratio -0.36 0.05
Total Assets 907.6 726.2
Return on Equity % 3.02 10.98
Return on Assets % 1.12 8.41
Cash+ ST Inv. Per Share 1.08 3.79
Total Debt 401.3 64.9
Total Debt to Equity % 119.38 11.67
Total Debt to Tangible Equity % n/a 13.73
Debt to Asset % 44.22 8.94

Product Summary

Sector Buyer Target
Healthcare
Biopharmaceuticals  
Infectious Diseases
The Infectious Diseases Subsector includes therapeutics that treat diseases caused by the invasion and reproduction of microorganisms in the body.
  
Surgery
The Surgery Subsector includes therapeutics that treat complications associated with surgical procedures.
  
Medical Devices
Anesthesiology
The Anesthesiology Subsector includes medical devices that deliver and monitor anesthetics.
  
Cardiology
The Cardiology Subsector includes medical devices that diagnose, monitor, and treat diseases affecting the heart and proximal blood vessels. Common devices include vital sign monitors, cardiac defibrillators, pacemakers, and other surgical equipment.
  
Clinical Diagnostics
The Clinical Diagnostics Subsector includes medical devices that analyze human body specimens within a medical setting. These devices, including equipment, biological and chemical reagents are primarily used for the diagnosis of diseases.
  
Drug Delivery
The Drug Delivery Subsector includes medical devices that facilitate the delivery of medications through different anatomical entryways, including blood vessels, skin, the mouth, and the lungs. Common devices in this sector include vascular access catheters, needles, implants, and inhalers.
  
General Surgery
The General Surgery Subsector includes medical devices that perform general, non-specialty surgeries; these devices are often general in scope and are used in procedures involving various parts of the body.
  
Neonatology
The Neonatology Subsector includes medical devices that diagnose, monitor and treat diseases of newborns.
  
Oncology
The Oncology Subsector includes medical devices that detect and treat cancers.
  
Orthopedics
The Orthopedics Subsector includes medical devices that diagnose and treat musculoskeletal diseases involving muscles, bones and joints.
  
Respiratory
The Respiratory Subsector includes medical devices that diagnose and treat respiratory diseases.
  
Urology
The Urology Subsector includes medical that diagnose and treat urinary tract and male reproductive disorders.
  
Vascular
The Vascular Subsector includes medical devices that diagnose and treat of conditions affecting the blood vessels.
  

- Focused. Denotes that the company is considered focused in this area. In general, Focused Companies draw the majority of their earnings in the sector/product area specified.

- Sector Pure-Plays. Denotes that the company is focused in the selected sector and generates nearly all earnings in the sector/product area specified.

- Sector Participation. Denotes that the company develops products in this line of business.

Product Details

Sector Buyer Target
Healthcare
Biopharmaceuticals  
Infectious Diseases  
Bacterial  
Antibacterial Agents  
Broad Spectrum  
Antiseptic Agents
Therapeutics that prevent bacterial infection by inhibiting the growth and development of microorganisms without necessarily killing them.

Target Products:

  • ChloraPrep
  
Surgery  
General  
Bacterial Infections  
Antiseptic Agents
Therapeutics that are used to prevent the spread of microorganism in pre-surgical skin infections due to bacteria.

Target Products:

  • ChloraPrep
  
Medical Devices
Anesthesiology  
Surgical  
Procedure/Region Specific  
Delivery Systems  
Epidural
Devices used to inject anesthetic into the epidural space to numb the legs and abdomen, which include catheters, needles, syrninges and other prepackaged kits.

Target Products:

  • FlexTip Plus/TheraCath Epidural Kit
  • Epidural Needle Series
  • 7cc Luer Slip Loss of Resistance Syringe
  • Single Shot Epidural Anesthesia Kit
  
Nerve Block
Devices used to assist in the delivery of nerve block anesthetic, which include catheters, needles and other prepackaged kits.

Target Products:

  • StimuCath
  • StimuQuick
  
Cardiology  
Diagnostic  
Imaging  
X-Ray  
Angiography  
Accessories
Various instruments used to assist in angiography procedures, including transducers, catheters, control syringes, waste systems, contrast management systems, fluid administration sets, and other related items.

Target Products:

  • Balloon/Double-Lumen Balloon Wedge-Pressure Catheters
  • Berman Angiographic/Reverse Berman Balloon Catheter Series
  
Monitoring  
Accessories  
Blood Pressure  
Invasive Blood Pressure Cuffs
Monitoring accessories that require contact with the blood and blood vessels to obtain an accurate blood pressure reading, such as domes and transducers.

Target Products:

  • Wedge Pressure Products
  • VitaCuff Products
  
Output Sensors
Instruments that measure various cardiac outputs, such as blood velocity and pressure. Examples of sensors include bioimpedence, hemodynamic and thermodilution catheters.

Target Products:

  • Balloon/HANDS OFF Thermodilution Catheter Series
  • HemoSonic 100 Probe
  
Monitors  
Cardiac Output
Instrument that measures the blood flow pumped out of the heart.

Target Products:

  • HemoSonic 100
  • Cardiac Output Computer
  
Surgical  
General Procedure  
Accessories  
Access  
Arterial
Instruments used to gain access to the heart's arteries, including aortic pouches, introducer needles, introducers and vessel dilators.

Target Products:

  • Arrow-Fischell EVAN Vascular Access
  • Super Arrow-Flex Sheath Introducer Series
  • Percutaneous Sheath Introducer
  • Spring-Wire Guide Introducer
  
Guidewires
A small wire-like device that is threaded through a catheter to the site of interest for delivery of another apparatus like a stent.

Target Products:

  • Radial Artery Catheterization Kit
  
Procedure/Region Specific  
Arrhythmia  
Electrophysiology  
Chamber Mapping Systems  
Catheters
Long slender wire-like devices with multiple electrodes on the end that gets inserted into the heart chamber for electrophysiological studies and chamber mapping.

Target Products:

  • QuadPolar Electrode Catheter Series
  • Decapolar/Hexapolar Electrode Catheters Series
  
Pacing Catheters
Catheter that is capable of regulating the electrical stimulation rhythm of the heart.

Target Products:

  • Multi-Polar Electrode Catheter Series
  • HANDS-OFF Balloon Pacing Catheter
  • Bipolar Pacing Catheter
  • Balloon Pacing Catheter Series
  • QuadPolar Electrode Catheter Series
  
Cardiac Output Assist  
Intra-Aortic Balloon Pump (IABP)  
Accessories
Various instruments used to assist intra aortic balloon pump surgery, such as catheter kits and introducers.

Target Products:

  • Ultra 8
  • Hemostasis Sheath Introducer
  • RediGaurd Series
  • NarrowFlex Series
  • UltraFlex Flexible Series
  • Universal Series
  • LightWAVE Series
  
Systems
Complete set of instruments used to perform intra aortic balloon pump surgery.

Target Products:

  • KAAT II Plus
  • AutoCAT 2 Series
  • ACAT 1 Plus
  • TransAct
  
Ventricular Assist Device (VAD)  
Left Ventricular (LVAS)  
Implantable
A device that can be encased in the body cavity and provides the pumping force for the left ventricle of the heart.

Target Products:

  • CorAide
  
Revascularization  
Atherectomy  
Rotational Systems
Complete set of instruments used to perform catheter based rotational blade atherectomy.

Target Products:

  • Arrow-Fischell Pullback Atherectomy Catheter
  
Clinical Diagnostics  
Specimen Collection  
Blood  
Arterial  
ABG Collection Kits
Collection devices used to collect arterial blood samples.

Target Products:

  • QuickFlash Kits
  • Arterial/Venous Catheterization Kits
  • Femoral Artery Catheterization Set
  
Body Fluids  
Paracentesis Kits
Kits used in the collection of paracentesis fluid.

Target Products:

  • Large Volume Abdominal
  • Peritoneal Lavage Kit
  
Thoracentesis Kits
Catheters/thin tubes used to collect samples of fluid in the thoracic fluid for diagnostic and therapeutic purposes

Target Products:

  • Arrow-Clarke Pleura-Seal Thoracentesis Kit
  
Drug Delivery  
Infusion Therapy  
Accessories  
Needleless Fluid Administration/Extension Sets
Valve systems designed to work without needles to prevent patient injuries.

Target Products:

  • UserGard Needle-Free Injection Cap System
  
Delivery Systems  
Pumps  
Subcutaneous
Pump placed under the skin of the patient receiving infusion therapy.

Target Products:

  • Arrow Model 3000 Constant Flow Pump
  
Integrated/Comprehensive Systems
Complete infusion systems that include pumps, monitoring devices and other accessories.

Target Products:

  • Emergency Infusion Device- EID
  • RIC Rapid Infusion Catheter Exchange Set
  
Vascular Access  
Extended In Dwelling Catheters  
Central Venous Catheters (CVC)
Catheters designed to handle high volume flow.

Target Products:

  • Arrowgard Blue Series
  • HANDS OFF Central Venous Series
  • Maximal Barrier Precautions Tray
  
Introducers
Medical devices designed for introducing vascular access.

Target Products:

  • Arrow Simplicity Micro-Puncture Introducer Set
  • Raulerson Syringe
  
Kits
Kits containing necessary components for gaining vascular access, such as midline catheters, peripherally inserted central catheters, central venous catheters, and associated repair instruments.

Target Products:

  • Super Arrow-Flex
  • Peripherally Inserted Midline Catheter Kit Series
  • EID/Peripheral EID Catheter Kit
  • Arrow-Howes
  • Single-Lumen ARROWgard Blue
  • Multi-Lumen Pediatric Kit Series
  
Midline Catheters
Central venous catheter set designed for midline venous access.

Target Products:

  • Arrow Midline Catheter Series
  
Peripherally Inserted Central Catheters (PICC)
Central venous catheter set designed for peripheral venous access.

Target Products:

  • Arrow PICC Series
  
Peripheral Intravenous Catheters  
Infusion Sets
Complete infusion sets containing peripheral intravenous catheters.

Target Products:

  • TwinCath Two-Lumen Peripheral Catheter
  • Rapid Infusion Catheter (RIC)
  
Ported
Peripheral intravenous catheters that have ports for access and to attach other devices such as infusion pumps.

Target Products:

  • Blue FlexTip Catheter/Port Systems
  
Safety Catheters
Catheters designed to protect healthcare workers from accidental needle punctures.

Target Products:

  • StatLock Products
  
Subcutaneous Implants  
Accessories  
Port Access
Devices that permit port introduction allowing controlled vascular access.

Target Products:

  • A2Port With Introducer Kit
  
Ports
Implanted devices that allow controlled vascular access.

Target Products:

  • Blue FlexTip Catheter/Port Systems
  • A/A2-Port Series
  • Low Profile Port/B-Port
  
General Surgery  
Invasive  
Accessories  
Drainage
Medical instruments used to provide drainage in the surgical area, including access kits, catheters, evacuator kits and reservoirs.

Target Products:

  • Blue FlexTip Percutaneous Cavity Drainage Kits
  
Guidewires
Guidewires used to lead other medical devices into place during surgical procedures

Target Products:

  • Spring-Wire Guides
  
Instruments  
Manual Instruments
Medical devices used manually by surgeons to perform invasive general surgical procedures, such as scalpels, curettes, dissectors, elevators, forceps, osteotomes, retractors, bissectors and other similar items.

Target Products:

  • Catheter Clamps
  • I.V. Tubing Products
  
Procedure/Region Specific  
Cholecystectomy  
Cholangiography  
Needles
Needles used to assist in cholangiography.

Target Products:

  • Port Non-Coring/Corning/Port-Winged Needles
  • Introducer Needles
  
Minimally Invasive  
Procedure/Region Specific  
Cholecystectomy  
Cholangiography
Devices used to perform minimally invasive procedures involving the biliary system, including catheter kits and other endoscopic instruments.

Target Products:

  • Arrow-Karlan
  • Arrow Percutaneous
  • Laparoscopic Cholangiography Balloon Catheter
  
Neonatology  
Surgical  
Accessories  
Drainage Catheters
Long slender wire-like tube device that gains access to internal compartments of a newborn and allows fluid to exit through it.

Target Products:

  • NeoCare
  
Treatment  
Feeding Tubes
A pipe-like instrument that allows food to enter the newborn's stomach.

Target Products:

  • NeoCare
  
Urinary Drainage  
Systems
Complete set of instruments to remove the urine in a newborn's bladder.

Target Products:

  • NeoCare
  
Vascular Access  
Umbilical Vessel Catheters
Long slender wire-like tube device that proceeds down the umbilical cord to provide access to the inside of the newborn.

Target Products:

  • NeoCare
  
Oncology  
Surgical  
Biopsy  
Region Specific  
Liver
Instruments used to obtain biopsy sample from the liver system.

Target Products:

  • Liver Biopsy Kit
  
Orthopedics  
Surgical  
General Procedure  
Minimally Invasive/Arthroscopic  
Instruments  
Manual Instruments
Mechanical instruments used in arthroscopic surgical procedures, such as biopsy systems, blades, scalpels, bone harvesters, forceps, clamps, bisectors, suture punch and other similar items.

Buyer Products:

  • KyphX Express Bone Biopsy Device
  • KyphX Latitude Curette
  • KyphX Bone Biopsy Device
  
Procedure Specific  
Bone Loss Reconstruction  
General  
Balloons
Devices inserted into the bone and subsequently inflated to create a cavity.

Buyer Products:

  • KyphX Exact Inflatable Bone Tamp
  • KyphX Express Inflatable Bone Tamp
  • KyphX Xpander Inflatable Bone Tamp
  • KyphX Elevate Inflatable Bone Tamp (IBT)
  
Bone Fillers
Devices used to fill the formed bone cavity with hardening material.

Buyer Products:

  • Disc-O-Tech Confidence Cement System
  • KyphX Bone Filler Device (BFD)
  • KyphOs FS/KyphOs FSR
  • KyphX HV-R Bone Cement
  • KyphX Express Bone Filler Device
  
Inflation Devices
Devices used to pump air into and inflate the balloon so that a cavity is formed.

Buyer Products:

  • Disc-O-Tech SKy Bone Expander System
  • Disc-O-Tech B-Twin Expandable Spinal System
  • KyphX Xpander Inflation Syringe
  
Introducers
Devices used to introduce the filler needles into the bone.

Buyer Products:

  • KyphX Advanced Osteo Introducer
  • KyphX One-Step Osteo Introducer System
  • Discyphor Spinal Needle
  • KyphX Express Osteo Introducer System
  • Discyphor Introducer Needle
  • KyphX Introducer Tool Kit
  
Joint Replacement/Reconstruction  
Spine  
Instrument Systems
Instruments used to facilitate either product insertion or removal.

Buyer Products:

  • Discyphor Catheter
  • Functional Anaesthetic Discography (F.A.D.) Catheter System
  
Spinal Implants  
Spinal Stabilizers
Devices inserted between the vertebrae to stabilize the spine and treat chronic back pain.

Buyer Products:

  • Aperius Percutaneous Lumbar Interspinous Decompression (PercLID)
  • X-Stop Interspinous Decompression System (IPD)
  
Respiratory  
Treatment  
Pneumothorax Catheter Kits
Thin tubes designed to be inserted into the lungs to correct pneumothorax (collapsed lung).

Target Products:

  • Pneumothorax Kit
  
Urology  
Surgical  
Procedure/Region Specific  
Percutaneous  
Nephrostomy  
Drainage Instruments
Instruments used to remove waste fluid from the kidney, such as catheters, malecots, pezzers, nephrostomy tubes and other similar items.

Target Products:

  • Blue FlexTip Percutaneous Cavity Drainage Kits
  
Treatment  
Renal  
Hemodialysis  
Components  
Access Graft Thrombolysis
Device used to plug up the hole in the access vein used for hemodialysis.

Target Products:

  • Arrow-Trerotola Percutaneous Thrombolytic Device (PTD)
  
Catheters  
Central Venous Access (CVA)
Catheter that gains access to a major vein.

Target Products:

  • Pressure Injectable PICC Kit
  • Pediatric Catheter Series
  • You-Bend Two-Lumen Hemodialysis
  
Sets
Complete set of catheter instruments used to gain access to internal blood vessels for hemodialysis.

Target Products:

  • Arrow Cannon Connector Assembly Replacement Set
  
Vascular  
Diagnostic  
Imaging  
X-Ray  
Angiography  
Accessories
Various instruments used to assist in angiography procedures, including transducers, catheters, control syringes, waste systems, contrast management systems, fluid administration sets, and other related items.

Target Products:

  • Berman Angiographic/Reverse Berman Balloon Catheter Series
  
Surgical  
General Procedure  
Accessories  
Introducer Needles
Devices which provide access to the vascular system for introduction of introducers.

Target Products:

  • Arrow-Fischell EVAN Vascular Access
  
Introducers
Devices used to provide percutaneous introduction of catheters, interventional devices, and temporary pacing leads into the vasculature.

Target Products:

  • Arrow Simplicity Micro-Puncture Introducer Set
  • Percutaneous Sheath Introducer
  • Super Arrow-Flex Sheath Introducer Series
  

- Focused. Denotes that the company is considered focused in this area. In general, Focused Companies draw the majority of their earnings in the sector/product area specified.

- Sector Pure-Plays. Denotes that the company is focused in the selected sector and generates nearly all earnings in the sector/product area specified.

- Sector Participation. Denotes that the company develops products in this line of business.

Relationship Details

Key Competitors

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Buyer
  The Procter & Gamble Company n/a 215,997.202 20.38 19.71 2.77 2.62 n/a
Merck & Co., Inc. n/a 121,554.346 22.59 18.27 5.06 5.13 6.59
Novartis AG (ADR) n/a 120,750.473 14.60 16.17 3.17 3.22 4.25
sanofi-aventis (ADR) n/a 119,684.612 20.73 11.74 2.80 2.99 n/a
Wyeth n/a 63,924.236 14.35 13.37 2.92 2.85 n/a
Eli Lilly & Co. n/a 59,742.683 26.78 14.95 3.38 3.29 n/a
Medtronic, Inc. n/a 53,167.690 18.47 18.21 4.24 4.01 9.86
ArthroCare Corporation n/a 1,741.504 47.28 43.52 5.77 5.68 8.68
Align Technology, Inc. n/a 1,325.462 103.68 39.74 4.96 4.77 9.54
TranS1 Inc. n/a 469.224 n/a n/a 43.30 n/a 30.19
Target
  Edwards Lifesciences Corp n/a 2,874.757 24.38 23.82 2.70 2.65 7.58
Datascope Corporation n/a 547.094 31.32 n/a 1.44 n/a 2.15
AngioDynamics, Inc. n/a 443.202 n/a 32.50 3.42 2.64 3.23
ABIOMED, Inc. n/a 428.277 n/a -16.11 8.28 6.70 5.12
DURECT Corporation n/a 385.709 n/a -13.82 13.06 12.09 16.24
Merit Medical Systems, Inc. n/a 334.443 24.04 24.69 1.64 1.67 2.34
Delcath Systems, Inc. n/a 34.681 n/a n/a n/a n/a 4.87

- Defined by the Company - Defined by Others

Dependent Suppliers

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Target
  Kilroy Realty Corporation n/a 2,022.638 42.33 19.96 7.77 7.78 3.15
QAD Inc. n/a 279.472 74.40 52.94 1.14 1.10 7.10
Enturia, Inc. n/a n/a n/a n/a n/a n/a n/a

- Defined by the Company - Defined by Others

Key Customers

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value

- Defined by the Company - Defined by Others

Key Partners

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Buyer
  Bonutti Technologies, L.L.C. n/a n/a n/a n/a n/a n/a n/a
Target
  King Pharmaceuticals, Inc. n/a 2,501.330 8.12 5.73 1.21 1.20 1.84
Enturia, Inc. n/a n/a n/a n/a n/a n/a n/a
The Cleveland Clinic Foundation n/a n/a n/a n/a n/a n/a n/a
Kimal PLC n/a n/a n/a n/a n/a n/a n/a

- Defined by the Company - Defined by Others

Financials

  Buyer Target Combined Entity
Income Statement
Operating Items
Revenue 487.8 508.0 995.8
Other Revenue 0.0 0.0 0.0
Total Revenue 487.8 508.0 995.8
Cost of Revenue 67.0 252.1 319.1
SG&A Expense 299.8 136.9 436.6
Depreciation & Amortization 9.8 0.0 9.8
Research & Development 46.7 27.2 73.9
Interest Expense 0.0 0.0 0.0
Other Operating Expense 0.0 0.0 0.0
Unusual Expense (Income) 21.3 1.8 23.1
Total Expenses 444.6 418.0 862.7
Operating Income 43.2 90.0 133.1
Non Operating Items
Interest Expense (Inc.), Net Non-Oprtng -15.4 4.7 -10.7
Other, Net 7.4 -1.6 5.8
Income Before Taxes 35.1 93.1 128.2
Income Taxes 25.0 32.0 57.0
Income After Taxes 10.1 61.1 71.2
Net Income - Excl. Xord. Items 10.1 61.1 71.2
Net Income - Incl. Xord. Items 10.1 61.1 71.2
Income Avail. to Common 10.1 61.1 71.2
Share Items
Basic Avg. Shares Outstanding 45.6 45.2 90.8
Basic EPS - Excl. Xord. Items 0.22 1.35 0.78
Basic EPS - Incl. Xord. Items 0.22 1.35 0.78
Full Dilution Adjustment 0.0 0.0 0.0
Fully Diluted Shares Outstanding 47.8 45.7 93.5
F.D. EPS - Excl. Xord. Items 0.21 1.34 0.76
F.D. EPS - Incl. Xord. Items 0.21 1.34 0.76
Dividends Per Common Share 0.00 0.76 0.76
Balance Sheet
Assets
Cash and Equivalents 51.9 160.2 212.0
ST Investments 0.0 13.2 13.2
Accounts Receivable 97.2 104.8 202.0
Inventory 19.1 114.0 133.0
Prepayments and Advances 9.8 13.5 23.3
Other Current Assets 17.8 12.5 30.3
Current Assets 195.7 418.1 613.8
PPE 0.0 382.7 382.7
Accum D&A 0.0 -201.6 -201.6
PPE, Net 37.2 181.1 218.2
Goodwill & Intangibles 560.6 83.8 644.4
Other Assets 0.0 0.0 0.0
Other LT Assets 114.1 43.3 157.4
Total Assets 907.6 726.2 1,633.8
Liabilities
Accounts Payable 14.1 19.0 33.1
Payable/Accrued 0.0 0.0 0.0
Accrued Expenses 75.6 38.8 114.4
ST Debt 0.0 63.9 63.9
Curr Port of LTD & Cap Lease Oblg 0.0 1.0 1.0
Other (Current) Liabilities 0.0 15.7 15.7
Current Liab. 89.7 138.4 228.1
LT Debt 401.3 0.0 401.3
Total LT Debt 401.3 0.0 401.3
Deferred Taxes 62.5 11.4 73.8
Other LT Liab. 18.0 20.2 38.2
Total Liabilities 571.4 169.9 741.4
Shareholders Equity
Common Stock 0.0 45.7 45.7
Additional Paid in Capital 287.5 45.0 332.5
Retained Earnings 46.4 502.4 548.8
Treasure Stock -0.2 -50.7 -50.9
Other Equity 2.4 13.9 16.3
Total Equity 336.1 556.3 892.4
Total Liab. & Equity 907.6 726.2 1,633.8
Shares Outstanding 45.9 45.3 91.2
Cash Flow
Operating Cash Flow
CF Net Income 10.1 61.1 71.2
CF Depreciation 26.6 20.7 47.2
CF Amortization 0.0 7.7 7.7
CF Deferred Taxes -6.9 0.5 -6.3
Other Non-Cash Items 57.9 7.7 65.6
Change in Working Capital -11.2 -7.9 -19.1
Total Cash From Operating Activities 76.6 89.8 166.4
Investing Cash Flow (not calculated)
Capital Expenditures -16.4 -31.2 -47.6
Other Investing Cash Flows -517.7 -14.9 -532.5
Total Cash From Investing Activities -534.1 -46.1 -580.2
Financing Cash Flow (not calculated)
Dividends Paid 0.0 -32.4 -32.4
Purchase Or Sale of Stock 27.1 7.4 34.5
Purchase and Retirement of Debt 391.3 9.0 400.4
Other Financing Cash Flow -30.5 0.2 -30.3
Total Cash From Financing Activities 388.0 -15.8 372.2
Exchange Rate Effects 1.8 1.4 3.2
Net Change in Cash -67.7 29.4 -38.4
Cash Taxes Paid 32.3 32.3 64.6
Cash Interest Paid 0.1 0.8 0.9