Summary

Other Scenarios:

Buyer: PDL BioPharma Inc. (PDLI) Last Price: 15.98 Market Cap.: 1.87B
Target: United Therapeutics Corporation (UTHR) Last Price: 84.17 Market Cap.: 1.79B

Lines of Business Summary:

Product Summary:

Overlap & Complementary Sectors

Sector Buyer Target # of Focused Companies
Healthcare 923
Biopharmaceuticals 377
Healthcare Services   152
Medical Devices   255
Nutritional Health   27
Outsourced Services 66

- 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: 8)
  • Retavase (Reteplase)
  • Ularitide
  • Nuvion (Visilizumab)
  • Zenapax (Daclizumab)
Target (Total: 19)
  • Beraprost SR
  • Remodulin (Treprostinil Sodium)
  • Sustained-Release Oral Tresprostinil
  • Gene Therapy Program
Buyer
  • Humanized Antibody Technology
Target
  • Medicomp Holter Scanning Service
  • Medicomp Event Monitoring Service
  • Medicomp Decipher Monitor
  • Medicomp CardioPAL SAVI

Business Relationship Summary:

Top Key Suppliers

Top Key Customers
Buyer (Total: 4)
  • Seattle Genetics, Inc. (SGEN)
  • Johnson & Johnson (JNJ)
  • Pharmaceutical Product Development, Inc. (PPDI)
  • ARIUS Research, Inc. (ARI:CA)
Target (Total: 9)
  • Pfizer Inc. (PFE)
  • GlaxoSmithKline plc (ADR) (GSK)
  • Medtronic, Inc. (MDT)
  • Baxter International Inc. (BAX)
Buyer (Total: 12)
  • Genentech, Inc. (DNA)
  • Cardinal Health, Inc. (CAH)
  • AmerisourceBergen Corp. (ABC)
  • McKesson Corporation (MCK)
Target (Total: 3)
  • Medco Health Solutions Inc. (MHS)
  • Express Scripts, Inc. (ESRX)
  • CVS Caremark Corporation (CVS)

Key Financial Summary:

Key Metrics

  Buyer Target
Number of Employees 1,100 285
Revenue Per Employee 401,350.5 830,978.4
Total Revenue 110.1 59.9
Total Expenses 117.8 68.3
Other Revenue 0.0 0.0
Cost of Revenue 16.8 6.4
SG&A Expense 39.9 44.2
Research & Development 56.0 17.7
Other Operating Expense 0.2 0.0
Operating Income -7.7 -8.4
Unusual Income 4.9 0.0
LT Debt to Capital 50.97 n/a
Fwd P/E 28.00 36.03
Fwd P/Rev 4.06 6.86
Book Value 511.9 n/a
Curr Portion of LTD/Cap Lease 6.3 n/a

Individual Company Summary

Focused

Buyer

Focused (): Healthcare > Biopharmaceuticals

Target

Focused (): Healthcare > Biopharmaceuticals

Business Description

Buyer

PDL BioPharma Inc., is a biopharmaceutical company focused on discovering, developing and commercializing therapies for severe or life threatening illnesses. The Company markets and sells products in the acute care hospital setting in the United States and Canada, and receives royalties through licensing agreements with a number of biotechnology and pharmaceutical companies based on its antibody humanization technology platform. The Company's product development pipeline includes six investigational compounds in Phase II or Phase III clinical development for hepatorenal syndrome, inflammation and autoimmune diseases, cardiovascular disorders and cancer. In September 2006, the Company completed the acquisition of various Cardene product-related rights from Roche to solidify its Cardene brand franchise in the United States. In April 2006, the Company completed the Scientific Advice procedure with the EMEA for its Phase III trial of ularitide.

Target

United Therapeutics Corporation (United Therapeutics) is a biotechnology company involved in the development and commercialization of products for patients with chronic and life-threatening diseases. United Therapeutics is active in three therapeutic areas: cardiovascular medicine, cancer and infectious disease. It has three therapeutic platforms: prostacyclin analogs, immunotherapeutic monoclonal antibodies and glycobiology antiviral agents. Most of the Company?s resources are focused on our prostacyclin analogs for the treatment of cardiovascular disease and immunotherapeutic monoclonal antibodies for the treatment of cancer. Its other principal focus area is the development of glycobiology antiviral agents for the treatment of hepatitis and other diseases.

Deal Summary

Key Ratios

  Buyer Target
Gross Margin % 81.73 89.45
Operating Margin % -21.73 2.99
Quick Ratio 4.02 n/a
Current Ratio 4.95 n/a
Coverage Ratio 0.14 1.76
Total Assets 1,163.4 n/a
Return on Equity % -18.6 n/a
Return on Assets % -8.18 n/a
Cash+ ST Inv. Per Share 3.01 n/a
Total Debt 538.5 0.0
Total Debt to Equity % 105.2 n/a
Total Debt to Tangible Equity % 315.34 n/a
Debt to Asset % 46.28 n/a

Product Summary

Sector Buyer Target
Healthcare
Biopharmaceuticals
Cardiovascular System
The Cardiovascular System Subsector includes therapeutics that treat disorders affecting the heart and blood vessels.
Digestive System
The Digestive System Subsector includes therapeutics that treat disorders affecting the digestive system.
  
Immunology
The Immunology Subsector includes therapeutics that treat disorders affecting the immune system.
  
Infectious Diseases
The Infectious Diseases Subsector includes therapeutics that treat diseases caused by the invasion and reproduction of microorganisms in the body.
  
Neurology
The Neurology Subsector includes therapeutics that treat disorders of the central nervous system, including the brain, spinal cord, and nerves.
  
Oncology
The Oncology Subsector includes therapeutics that treat and manage various types of cancer and related complications.
Respiratory System
The Respiratory System Subsector includes therapeutics that treat disorders affecting both the upper and lower respiratory tract, including the nose, throat, larynx, trachea, bronchi, and lungs.
  
Transplantation
The Transplantation Subsectors includes therapeutics that treat rejection and infection associated with tissue transplantation into the human body.
  
Healthcare Services  
Patient Care
The Patient Care Subsector is comprised of companies that provide services to patients for the diagnosis, treatment, and/or prevention of diseases and injuries.
  
Medical Devices  
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.
  
Nutritional Health  
Dietary/Naturopathic Supplements
The Dietary/Naturopathic Subsector includes nutritional biochemicals and nutrients derived from natural sources that are intended to support health.
  
Outsourced Services
Development/Manufacturing Services
The Development/Manufacturing Services Subsector includes companies that provide research, development, manufacturing, sales and marketing to biopharmaceutical and medical device companies.
  
Drug Discovery Services
The Drug Discovery Services Subsector includes companies that provide biopharmaceutical companies with novel biological targets and drug leads.
  

- 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
Cardiovascular System
Heart Disorders  
Myocardial Infarction (MI)  
Thrombolytic Agents
Therapeutics that treat the ineffective pumping of the heart by dissolving blood clots in blood vessels.

Buyer Products:

  • Retavase (Reteplase)
  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of heart and circulatory system disorders in early stages of clinical research where human subject is involved.

Buyer Products:

  • Ularitide

Target Products:

  • Beraprost SR
  • Remodulin (Treprostinil Sodium)
  • Sustained-Release Oral Tresprostinil
  • Gene Therapy Program
  • UT-15C (Sustained Release Oral Treprostinil)
Vascular Disorders  
Primary Pulmonary Hypertension  
Prostacyclins
Therapeutics that relieve pulmonary hypertension by causing vasodilation of the pulmonary blood vessels.

Target Products:

  • Viveta (Inhaled Treprostinil)
  • Remodulin (Treprostinil Sodium)
  
Digestive System  
Gastrointestinal Tract Disorders  
Intestinal Disorders  
Inflammatory Bowel Disease (IBD)  
Ulcerative Colitis  
Monoclonal Antibodies
Therapeutics that treat ulcerative colitis through modulation of immune pathways implicated in the progression of the disease.

Buyer Products:

  • Nuvion (Visilizumab)
  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of digestive disorders in early stages of clinical research where human subject is involved.

Buyer Products:

  • Nuvion (Visilizumab)
  
Immunology  
Autoimmune Disorders  
Inflammatory Bowel Disease (IBD)  
Ulcerative Colitis  
Monoclonal Antibodies
Therapeutics that treat ulcerative colitis through modulation of immune pathways implicated in the progression of the disease.

Buyer Products:

  • Nuvion (Visilizumab)
  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of immune disorders in early stages of clinical research where human subject is involved.

Buyer Products:

  • Zenapax (Daclizumab)
  • Nuvion (Visilizumab)
  
Research/Preclinical Stage Products
Therapeutics that are being investigated for the treatment of immune disorders in very early stages of research where no human subject is involved.

Buyer Products:

  • Therapeutic Antibody Candidates
  
Infectious Diseases  
Research/Preclinical Stage Products
Therapeutics that are being investigated for the treatment of infectious diseases in very early stages of research where no human subject is involved.

Target Products:

  • Glycobiology Antiviral Agents
  
Neurology  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of nervous system and mental disorders in early stages of clinical research where human subject is involved.

Buyer Products:

  • Zenapax (Daclizumab)
  
Oncology
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment and management of cancer in early stages of clinical research where human subject is involved.

Buyer Products:

  • HuLuc63 (Monoclonal Antibody)
  • M200 (Volociximab)
  
Research/Preclinical Stage Products
Therapeutics that are being investigated for the treatment and management of cancer and are currently in an early research or preclinical stage of development.

Buyer Products:

  • Therapeutic Antibody Candidates

Target Products:

  • ProstaRex
  • BrevaRex
  • OncoRex
  • GivaRex
Urology  
Ovarian Cancer  
Metastatic  
Monoclonal Antibodies
Therapeutics that treat and manage ovarian cancers that have spread beyond their original tumor site by binding to specific structures on the surface of the tumor, eliciting a reaction which results in tumor cell death.

Target Products:

  • OvaRex (Oregovomab)
  
Respiratory System  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of respiratory disorders in early stages of clinical research where human subject is involved.

Buyer Products:

  • Zenapax (Daclizumab)
  
Transplantation  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the management of rejection and infection in early stages of clinical research where human subject is involved.

Buyer Products:

  • Zenapax (Daclizumab)
  
Renal (Kidney)  
Rejection Prophylaxis  
Monoclonal Antibodies
Protein-based therapeutics that target specific substances like proteins.

Buyer Products:

  • Zenapax (Daclizumab)
  
Healthcare Services  
Patient Care  
Ambulatory/Outpatient  
Diagnostic  
Cardiology  
Cardiac Monitoring
The use of electrocardiograph (ECG) devices to monitor the heart's electrical waves leading to the ability to detect abnormalities in the heart beat.

Target Products:

  • Medicomp Holter Scanning Service
  • Medicomp Event Monitoring Service
  
Medical Devices  
Cardiology  
Diagnostic  
Monitoring  
Monitors  
Electrocardiogram (ECG/EKG)  
Holter Recorders
Instrument that measures the heart rhythm (ECG) over a 24 hour period while the patient records their symptoms and activities in a diary.

Target Products:

  • Medicomp Decipher Monitor
  
Interpretive/Analysis
Specialized electrocardiogram devices that facilitate certain diagnostic functions and analysis.

Target Products:

  • Medicomp CardioPAL SAVI
  
Telemetry  
Telemetry Systems
Complete systems or devices used to facilitate transfer of vitals monitoring data from the patient's site to a central monitor.

Target Products:

  • Medicomp Epicardia 3500/4000
  • Medicomp CardioPAL SAVI
  
Nutritional Health  
Dietary/Naturopathic Supplements  
General Health
Products consisting of dietary/naturopathic supplements that are intended to support general health.

Target Products:

  • Unither Pharma, Inc.
  
Outsourced Services
Development/Manufacturing Services  
Contract Manufacturing Organizations (CMO)  
Pharmaceuticals  
Biologics
Active Ingredient Contract Manufacturing Organizations (CMO) that manufacture antibodies, proteins, and genetic materials.

Target Products:

  • Synthesis And Manufacturing Division
  
Drug Discovery Services  
Lead Discovery/Validation/Optimization  
Lead Biologics  
Antibodies
Biological lead compounds which have a specific amino acid sequence that only interacts with specific substances to cause an immunological response.

Buyer Products:

  • Humanized Antibody Technology
  

- 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
Overlap
  GlaxoSmithKline plc (ADR) n/a 120,333.730 11.33 11.49 2.66 2.72 11.69
Buyer
  GlaxoSmithKline plc (ADR) n/a 120,333.730 11.33 11.49 2.66 2.72 11.69
Genentech, Inc. n/a 79,774.147 28.81 24.01 6.80 6.16 8.71
Baxter International Inc. n/a 37,443.768 21.94 18.73 3.32 3.13 7.17
Hospira, Inc. n/a 6,705.617 49.03 20.06 1.95 1.83 n/a
Medarex, Inc. n/a 1,183.623 0.00 -8.59 25.14 22.62 2.66
Sangamo Biosciences, Inc. n/a 469.656 0.00 -19.95 51.62 33.69 n/a
Dyax Corp. n/a 262.804 0.00 -4.76 10.07 8.73 n/a
Nuvelo, Inc. n/a 89.159 0.00 -1.64 1.90 301.17 n/a
RegeneRx Biopharmaceuticals, Inc. n/a 46.554 0.00 n/a 96.15 n/a 4.94
DOR BioPharma, Inc. n/a 21.324 0.00 n/a 13.26 n/a 12.42
Boehringer Ingelheim GmbH n/a n/a n/a n/a n/a n/a n/a
Target
  Pfizer Inc. n/a 152,168.055 18.34 9.51 3.13 3.19 n/a
GlaxoSmithKline plc (ADR) n/a 120,333.730 11.33 11.49 2.66 2.72 11.69
Novartis AG (ADR) n/a 111,297.864 9.32 14.30 2.86 2.87 3.98
Bayer AG (ADR) n/a 58,319.286 8.05 15.51 1.27 1.38 n/a
Eli Lilly & Co. n/a 56,738.337 19.21 12.96 3.04 2.85 n/a
Gilead Sciences, Inc. n/a 43,954.135 27.21 23.93 10.39 8.37 12.70
Schering-Plough Corporation n/a 35,147.969 0.00 14.65 2.77 1.96 n/a
ICO, Inc. n/a 213.041 9.75 10.37 0.48 0.41 2.39
Encysive Pharmaceuticals, Inc. n/a 182.406 0.00 -1.61 6.38 5.82 n/a
EPIX Pharmaceuticals, Inc. n/a 126.270 0.00 -2.16 8.44 3.43 n/a
Aradigm Corporation n/a 70.801 0.00 -2.89 40.38 38.19 1.91
Actelion Ltd. n/a 0.000 0.00 20.40 0.00 n/a n/a
Mondobiotech S.A. n/a n/a n/a n/a n/a n/a n/a

- 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
Buyer
  Seattle Genetics, Inc. 1.60% 696.942 0.00 -11.20 31.09 23.36 12.91
Johnson & Johnson n/a 175,508.079 16.59 14.12 2.87 2.79 12.06
Pharmaceutical Product Development, Inc. n/a 5,378.748 32.92 25.34 3.80 3.60 5.77
ARIUS Research, Inc. n/a 68.624 0.00 n/a 58.31 n/a 7.44
Target
  Pfizer Inc. n/a 152,168.055 18.34 9.51 3.13 3.19 n/a
GlaxoSmithKline plc (ADR) n/a 120,333.730 11.33 11.49 2.66 2.72 11.69
Medtronic, Inc. n/a 55,809.327 25.03 19.51 4.31 4.22 47.34
Baxter International Inc. n/a 37,443.768 21.94 18.73 3.32 3.13 7.17
Cardinal Health, Inc. n/a 21,088.993 13.63 16.02 0.24 0.23 16.28
Aradigm Corporation n/a 70.801 0.00 -2.89 40.38 38.19 1.91
ViRexx Medical Corp. (USA) n/a 7.996 0.00 n/a n/a n/a 6.77
Stanford University n/a n/a n/a n/a n/a n/a n/a
New York Medical College 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
Buyer
  Genentech, Inc. 36.00% 79,774.147 28.81 24.01 6.80 6.16 8.71
Cardinal Health, Inc. 18.00% 21,088.993 13.63 16.02 0.24 0.23 16.28
AmerisourceBergen Corp. 14.00% 6,783.922 14.85 14.74 0.10 0.10 n/a
McKesson Corporation 13.00% 16,967.825 18.05 18.01 0.17 0.17 5.73
AstraZeneca plc (ADR) 8.00% 54,821.868 9.52 8.85 1.92 1.85 n/a
Roche Holding Ltd. (ADR) n/a 169,407.267 19.05 19.89 4.03 4.20 5.78
Wyeth n/a 58,413.285 12.65 12.44 2.61 2.54 4.26
Biogen Idec Inc. n/a 17,376.725 27.27 18.70 5.48 4.91 9.12
Elan Corporation, plc (ADR) n/a 10,734.602 0.00 -58.80 14.14 10.75 n/a
Seattle Genetics, Inc. n/a 696.942 0.00 -11.20 31.09 23.36 12.91
Progenics Pharmaceuticals, Inc. n/a 454.547 0.00 -11.25 5.54 6.45 2.88
Chugai Pharmaceutical Co., Ltd. n/a n/a n/a n/a n/a n/a n/a
Target
  Medco Health Solutions Inc. 65.00% 23,215.014 25.46 19.99 0.52 0.49 n/a
Express Scripts, Inc. 20.70% 14,940.953 26.31 21.23 0.82 0.82 n/a
CVS Caremark Corporation n/a 57,819.275 22.04 16.98 0.76 0.67 n/a

- 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
Overlap
  Cardinal Health, Inc. n/a 21,088.993 13.63 16.02 0.24 0.23 16.28
Buyer
  Johnson & Johnson n/a 175,508.079 16.59 14.12 2.87 2.79 12.06
Roche Holding Ltd. (ADR) n/a 169,407.267 19.05 19.89 4.03 4.20 5.78
Genentech, Inc. n/a 79,774.147 28.81 24.01 6.80 6.16 8.71
Wyeth n/a 58,413.285 12.65 12.44 2.61 2.54 4.26
Eli Lilly & Co. n/a 56,738.337 19.21 12.96 3.04 2.85 n/a
Cardinal Health, Inc. n/a 21,088.993 13.63 16.02 0.24 0.23 16.28
Biogen Idec Inc. n/a 17,376.725 27.27 18.70 5.48 4.91 9.12
Kirin Holdings Company, Ltd. (ADR) n/a 15,657.560 33.80 28.88 1.03 0.91 2.52
Elan Corporation, plc (ADR) n/a 10,734.602 0.00 -58.80 14.14 10.75 n/a
Target
  Pfizer Inc. n/a 152,168.055 18.34 9.51 3.13 3.19 n/a
GlaxoSmithKline plc (ADR) n/a 120,333.730 11.33 11.49 2.66 2.72 11.69
CVS Caremark Corporation n/a 57,819.275 22.04 16.98 0.76 0.67 n/a
Medtronic, Inc. n/a 55,809.327 25.03 19.51 4.31 4.22 47.34
Baxter International Inc. n/a 37,443.768 21.94 18.73 3.32 3.13 7.17
Medco Health Solutions Inc. n/a 23,215.014 25.46 19.99 0.52 0.49 n/a
Cardinal Health, Inc. n/a 21,088.993 13.63 16.02 0.24 0.23 16.28
Express Scripts, Inc. n/a 14,940.953 26.31 21.23 0.82 0.82 n/a
Aradigm Corporation n/a 70.801 0.00 -2.89 40.38 38.19 1.91
ViRexx Medical Corp. (USA) n/a 7.996 0.00 n/a n/a n/a 6.77
Toray Industries n/a 0.000 0.00 n/a 0.00 n/a n/a
New York Medical College n/a n/a n/a n/a n/a n/a n/a
Stanford University n/a n/a n/a n/a n/a n/a n/a
Mochida Pharmaceutical Co., Ltd n/a n/a n/a n/a n/a n/a n/a
University Of Oxford 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 463.9 210.9 674.9
Other Revenue 0.0 0.0 0.0
Total Revenue 463.9 210.9 674.9
Cost of Revenue 84.8 22.3 107.0
SG&A Expense 151.8 99.0 250.8
Depreciation & Amortization 0.0 0.0 0.0
Research & Development 242.5 83.4 325.8
Interest Expense 0.0 0.0 0.0
Other Operating Expense 2.2 0.0 2.2
Unusual Expense (Income) 83.6 0.0 83.6
Total Expenses 564.7 204.6 769.4
Operating Income -100.8 6.3 -94.5
Non Operating Items
Interest Expense (Inc.), Net Non-Oprtng -13.9 11.1 -2.8
Other, Net 20.6 -0.8 19.8
Income Before Taxes -94.1 16.6 -77.5
Income Taxes 1.1 -3.3 -2.2
Income After Taxes -95.2 19.9 -75.3
Net Income - Excl. Xord. Items -95.2 19.9 -75.3
Net Income - Incl. Xord. Items -95.2 19.9 -75.3
Income Avail. to Common -95.2 19.9 -75.3
Share Items
Basic Avg. Shares Outstanding 116.9 21.7 138.5
Basic EPS - Excl. Xord. Items n/a 0.92 -0.54
Basic EPS - Incl. Xord. Items n/a 0.92 -0.54
Full Dilution Adjustment 0.0 0.0 0.0
Fully Diluted Shares Outstanding 116.9 23.7 140.6
F.D. EPS - Excl. Xord. Items n/a 0.84 -0.54
F.D. EPS - Incl. Xord. Items n/a 0.84 -0.54
Balance Sheet
Assets
Cash and Equivalents 210.0 n/a 210.0
ST Investments 141.2 n/a 141.2
Accounts Receivable 9.3 n/a 9.3
Inventory 26.9 n/a 26.9
Other Current Assets 56.5 n/a 56.5
Current Assets 444.0 n/a 444.0
Accum D&A 0.0 n/a 0.0
PPE, Net 329.5 n/a 329.5
Goodwill & Intangibles 341.1 n/a 341.1
Long Term Investments 30.0 n/a 30.0
Other Assets 0.0 n/a 0.0
Other LT Assets 18.8 n/a 18.8
Total Assets 1,163.4 n/a 1,163.4
Liabilities
Accounts Payable 4.9 n/a 4.9
Payable/Accrued 0.0 n/a 0.0
Accrued Expenses 66.0 n/a 66.0
ST Debt 0.0 n/a 0.0
Curr Port of LTD & Cap Lease Oblg 6.3 n/a 6.3
Other (Current) Liabilities 12.4 n/a 12.4
Current Liab. 89.6 n/a 89.6
LT Debt 532.1 n/a 532.1
Total LT Debt 532.1 n/a 532.1
Other LT Liab. 29.7 n/a 29.7
Total Liabilities 651.5 n/a 651.5
Shareholders Equity
Common Stock 1.2 n/a 1.2
Additional Paid in Capital 1,087.2 n/a 1,087.2
Retained Earnings -575.8 n/a -575.8
Other Equity -0.8 n/a -0.8
Total Equity 511.9 n/a 511.9
Total Liab. & Equity 1,163.4 n/a 1,163.4
Shares Outstanding 117.0 n/a 117.0
Cash Flow
Operating Cash Flow
CF Net Income -84.6 n/a -84.6
CF Depreciation 22.6 n/a 22.6
CF Amortization 29.2 n/a 29.2
CF Deferred Taxes -4.8 n/a -4.8
Other Non-Cash Items 95.6 n/a 95.6
Change in Working Capital -4.7 n/a -4.7
Total Cash From Operating Activities 53.3 n/a 53.3
Investing Cash Flow (not calculated)
Capital Expenditures -75.3 n/a -75.3
Other Investing Cash Flows 33.4 n/a 33.4
Total Cash From Investing Activities -42.0 n/a -42.0
Financing Cash Flow (not calculated)
Dividends Paid 0.0 n/a 0.0
Purchase Or Sale of Stock 29.1 n/a 29.1
Purchase and Retirement of Debt -1.0 n/a -1.0
Other Financing Cash Flow 1.9 n/a 1.9
Total Cash From Financing Activities 30.0 n/a 30.0
Exchange Rate Effects 0.0 n/a 0.0
Net Change in Cash 41.3 n/a 41.3
Cash Taxes Paid 0.9 n/a 0.9
Cash Interest Paid 12.4 n/a 12.4