Fisher Scientific Reports Record Quarterly Financial Results; Company Announces Third-Quarter Adjusted EPS of $1.15

  
    
  
  
    
      Fisher Scientific International Inc. (NYSE: FSH), the world leader in 
      serving science, today reported record sales and earnings for the third 
      quarter ended Sept. 30, 2006, reflecting strong results in both the core 
      scientific-research and healthcare segments.
    
    
      “We reported a record quarter, with sales, 
      earnings and operating income reaching new highs,” 
      said Paul M. Montrone, chairman and chief executive officer. “Our 
      financial results reflect the continued strength of our company and the 
      successful execution of our strategy.”
    
    
      On May 8, Fisher Scientific and Thermo Electron Corporation (NYSE: TMO) 
      announced a definitive agreement to merge the two companies. As 
      previously disclosed, the U.S. Federal Trade Commission granted the 
      companies early termination of the waiting period under the 
      Hart-Scott-Rodino Antitrust Improvements Act for the merger. Assuming 
      that the European Commission clears the transaction on Nov. 9, the 
      company expects to complete the merger on that date.
    
    
      Third-Quarter Reported Results
    
    
      Sales for the third quarter increased 10.8 percent to $1,508.1 million 
      compared with $1,361.3 million in the corresponding period of 2005. 
      Excluding the effect of foreign exchange, sales totaled $1,492.4 million 
      in the third quarter, a 9.6 percent increase over the same quarter in 
      2005. Organic growth in the core scientific-research and healthcare 
      markets accelerated from the prior quarter to 8.6 percent. Including the 
      forecasted effect of reduced demand for safety-related products, organic 
      growth was 6.4 percent.
    
    
      In European markets, organic growth was in the high single digits, 
      outpacing market growth, as a result of customer-specific initiatives 
      and programs to expand the company’s life 
      science product portfolio. Double-digit growth in Asia was driven 
      primarily by the increased pace of research activity in China.
    
    
      Third-quarter net income was $151.8 million compared with $93.5 million 
      in the prior-year period. Income from continuing operations for the 
      third quarter increased to $149.3 million, or $1.12 per diluted share, 
      from $94.3 million, or 74 cents per diluted share, in the same period of 
      2005. Net income and income from continuing operations include $2.0 
      million, net of tax ($3.3 million pre-tax) of acquisition and 
      integration costs, $0.7 million, net of tax ($1.2 million pre-tax) of 
      restructuring expense, $7.8 million, net of tax ($12.5 million pre-tax) 
      of gain on the sale of investments, and $8.3 million, net of tax ($12.8 
      million pre-tax) of equity-based compensation expense related to FAS 
      123R, which are detailed in the attached supplementary tables.
    
    
      For the nine months ended Sept. 30, 2006, sales totaled $4,386.3 
      million, a 9.4 percent increase over sales of $4,011.2 million in the 
      corresponding period last year. In the first nine months of 2006, 
      foreign exchange translation had a minimal effect on sales compared with 
      the corresponding period in the prior year. Net income in the first nine 
      months was $377.0 million compared with $271.9 million in the same 
      period of 2005. Income from continuing operations for the first nine 
      months was $376.9 million, or $2.86 per diluted share, compared with 
      $255.9 million, or $2.01 per diluted share in the prior-year period.
    
    
      During the first nine months of 2006, Fisher generated $423.7 million in 
      cash from operations, primarily reflecting growth in operating earnings. 
      Capital expenditures during the same period were $115.4 million, 
      representing maintenance capital expenditures, investments in the company’s 
      life science and managed-services businesses, expansion of distribution 
      capabilities in Europe and the ongoing integration of Apogent 
      manufacturing facilities. In the first nine months, free cash flow, 
      defined as cash from operations less capital expenditures, was $308.3 
      million, compared with a full-year estimate of $525 million to $550 
      million.
    
    
      Adjusted Financial Results
    
    
      The following discussion excludes nonrecurring and special items and the 
      effect of equity-based compensation expense related to FAS 123R. In the 
      attached supplementary information tables, these items are reconciled to 
      the most directly comparable financial measures computed in accordance 
      with accounting principles generally accepted in the United States 
      (GAAP).
    
    
      Operating income for the third quarter was $226.9 million, an increase 
      of 21.6 percent, compared with $186.6 million in the same quarter of 
      2005, reflecting increased sales volume, recent higher-margin 
      acquisitions, productivity initiatives, and incremental synergies from 
      the Apogent merger.
    
    
      Third-quarter income from continuing operations increased 27.6 percent 
      to $152.5 million compared with $119.5 million in the corresponding 
      period of 2005. The increase primarily reflects growth in operating 
      income and a lower tax rate. Diluted earnings per share (EPS) from 
      continuing operations increased 23.7 percent to $1.15 in the third 
      quarter compared with 93 cents in the same period of 2005. Diluted EPS 
      from continuing operations excluding intangible asset amortization, net 
      of tax, totaled $1.24, a 24.0 percent increase compared with $1.00 in 
      the third quarter last year. Equity-based compensation expense related 
      to FAS 123R was 6 cents per diluted share in the third quarter of 2006.
    
    
      Operating income for the nine-month period increased 15.9 percent to 
      $628.9 million compared with $542.7 million during the same period in 
      the prior year. Income from continuing operations for the first nine 
      months of 2006 increased 24.4 percent to $415.9 million compared with 
      $334.4 million in the same period of 2005.
    
    
      Year-to-date diluted EPS from continuing operations was $3.16, an 
      increase of 20.6 percent, compared with $2.62 in the corresponding 
      period of 2005. Diluted EPS from continuing operations excluding 
      intangible asset amortization, net of tax, totaled $3.41, a 21.4 percent 
      increase compared with $2.81 in the same period last year. Equity-based 
      compensation expense was 19 cents per diluted share in the first nine 
      months of 2006.
    
    
      Business-Segment Results
    
    
      Sales of scientific products and services in the third quarter increased 
      to $1,165.3 million, a 9.9 percent increase compared with the prior-year 
      period. Excluding the effect of foreign exchange, third-quarter sales in 
      this segment rose 8.5 percent to $1,150.3 million.
    
    
      Organic sales growth in the core scientific research market accelerated 
      from the prior quarter to 8.8 percent reflecting strength across all of 
      the company’s core customer segments. 
      Including the effect of safety-related products, organic growth in the 
      segment was 6.0 percent.
    
    
      Mid-teens growth from pharma customers reflected strong demand for the 
      company’s proprietary product and service 
      offering. Continuing strong market conditions and the company’s 
      recent investments in sales and marketing initiatives resulted in more 
      than 20 percent growth from biotech customers. Growth in the academic 
      markets was in the mid single digits, reflecting consistent growth 
      across colleges and universities as well as medical research institutes. 
      Fisher realized mid single-digit growth in the industrial markets driven 
      by customer-specific sales initiatives and the ongoing strength of the 
      U.S. economy. Excluding safety-related products, which continue to be 
      affected by the forecasted slowdown in demand for domestic-preparedness 
      products, sales to government customers increased in the mid-teens, 
      fueled by strong demand from federal government agencies.
    
    
      In the scientific products and services segment, operating income 
      increased 19.9 percent to $173.8 million from $144.9 million in the 
      corresponding period of 2005, primarily reflecting the benefit of 
      fixed-cost leverage, the sales benefit of investments in R&D and sales 
      and marketing initiatives, contributions from recently completed 
      higher-margin acquisitions and synergies from the Apogent merger.
    
    
      For the nine months ended Sept. 30, 2006, sales of scientific products 
      and services increased 9.6 percent to $3,368.2 million compared with 
      $3,074.3 million in the comparable period of 2005. Foreign exchange 
      translation had minimal effect on sales of scientific products and 
      services in the first nine months of 2006 compared with the 
      corresponding period in the prior year.
    
    
      For the first nine months, operating income in the scientific products 
      and services segment was $476.4 million, representing an increase of 
      14.4 percent from $416.5 million in the same period in 2005.
    
    
      Third-quarter sales of healthcare products and services totaled $362.1 
      million, an increase of 14.0 percent compared with the prior-year 
      period. Excluding the effect of foreign exchange, sales totaled $361.2 
      million, a 13.8 percent increase from the corresponding period in the 
      prior year. Organic sales growth, excluding foreign exchange, was 8.6 
      percent in the third quarter compared with the same period last year, 
      representing the third consecutive quarter of accelerating growth. This 
      growth was fueled by increased sales of proprietary diagnostic tests and 
      an increase in outsourcing trends at life science and diagnostic 
      companies.
    
    
      Operating income increased 27.3 percent to $53.1 million from $41.7 
      million in the third quarter last year, reflecting fixed-cost leverage, 
      increased productivity and incremental synergies related to the Apogent 
      merger.
    
    
      For the first nine months, sales of healthcare products and services 
      increased 9.3 percent to $1,072.0 million compared with the first nine 
      months of 2005. Excluding the effect of foreign exchange, sales totaled 
      $1,072.9 million, a 9.4 percent increase compared with the first nine 
      months of 2005. Year-to-date operating income increased 20.8 percent to 
      $152.6 million from $126.3 million in the corresponding period last year.
    
    
      Company Outlook
    
    
      Consistent with the company’s prior practice, 
      Fisher is providing guidance for its 2006 financial results. This 
      outlook reflects the forecasted results of Fisher Scientific on a 
      stand-alone basis and does not incorporate the costs and potential 
      synergies associated with the pending merger with Thermo Electron.
    
    
      For 2006, Fisher Scientific expects total sales growth, excluding the 
      translation effect of foreign exchange, of approximately 10 percent, 
      with organic growth in the core scientific research and healthcare 
      markets of approximately 8 percent. Including the effect of 
      safety-related products, the company expects organic growth to be 
      approximately 6 percent. The company is raising its guidance for 
      operating income margin to a range of 14.4 percent to 14.5 percent for 
      the full year, compared with the previous guidance of 14.1 percent to 
      14.3 percent.
    
    
      The company is raising its full-year earnings guidance to $4.30 to $4.35 
      per share, reflecting continued strong operating results and a reduced 
      long-term tax rate of approximately 24 percent for the full year. 
      Diluted EPS excluding intangible asset amortization, net of tax, is 
      expected to be in the range of $4.65 to $4.70. The company’s 
      guidance for operating income and earnings excludes discontinued 
      operations, nonrecurring and special items, and the effect of 
      equity-based compensation expense related to FAS 123R, which is expected 
      to be approximately 28 cents per share.
    
    
      Fisher is maintaining its guidance for 2006 cash from operations in the 
      range of $675 million to $700 million, and free cash flow in the range 
      of $525 million to $550 million.
    
    
      In light of the pending merger with Thermo Electron, Fisher Scientific 
      will not be hosting an earnings conference call.
    
    
      Fisher Scientific: The World Leader 
      in Serving Science
    
    
      Fisher Scientific International Inc. (NYSE: FSH) is a leading provider 
      of products and services to the scientific community. Fisher facilitates 
      discovery by supplying researchers and clinicians in labs around the 
      world with the tools they need. We serve pharmaceutical and biotech 
      companies; colleges and universities; medical-research institutions; 
      hospitals; reference, quality-control, process-control and R&D labs in 
      various industries; as well as government agencies. From biochemicals, 
      cell-culture media and proprietary RNAi technology to rapid-diagnostic 
      tests, safety products and other consumable supplies, Fisher provides 
      more than 600,000 products and services. This broad offering, combined 
      with Fisher’s globally integrated supply 
      chain and unmatched sales and marketing capabilities, helps make our 
      350,000 customers more efficient and effective at what they do.
    
    
      Founded in 1902, Fisher Scientific is a FORTUNE 500 company and 
      is a component of the S&P 500 Index. With approximately 19,500 employees 
      worldwide, the company had revenues of $5.6 billion in 2005. Fisher 
      Scientific is a company committed to delivering on our promises — 
      to customers, shareholders and employees alike. Additional information 
      about Fisher is available on the company’s 
      Web site at www.fisherscientific.com.
    
    
      Use of Non-GAAP Financial Measures
    
    
      To supplement Fisher Scientific’s 
      financial statements presented in accordance with accounting principles 
      generally accepted in the United States of America (GAAP), the company 
      provides certain non-GAAP measures of financial performance and 
      liquidity, as more fully discussed below.
    
    
      Fisher Scientific defines adjusted income from continuing operations, 
      adjusted diluted income per share from continuing operations (also 
      referred to as adjusted diluted earnings per share), and adjusted 
      operating income as income from continuing operations, diluted income 
      per share from continuing operations and operating income, 
      respectively, each computed in accordance with GAAP, excluding the 
      effect of equity-based compensation expense related to the adoption of 
      FAS 123R and items that the company considers to be special or 
      nonrecurring to the company’s operations. The 
      company defines adjusted operating margin as adjusted operating income 
      as a percentage of sales. The company calculates and discloses these 
      aforementioned non-GAAP measures because it believes that these measures 
      may assist investors in evaluating trends of the company’s 
      operating results without regard to the effect of equity-based 
      compensation expense related to the adoption of FAS 123R and items that 
      are special or not considered recurring. Fisher defines adjusted diluted 
      income per share from continuing operations excluding intangible asset 
      amortization as adjusted diluted income per share from continuing 
      operations plus amortization of intangible assets as calculated on a per 
      diluted share basis. The company calculates and discloses this measure 
      because it believes that the exclusion of the intangibles amortization 
      may assist investors in evaluating the company’s 
      operating results that are consistent over time for both newly acquired 
      and historical businesses. The company defines free cash flow as cash 
      provided by operating activities less capital expenditures, each 
      computed in accordance with GAAP. Fisher Scientific believes that free 
      cash flow is a useful measure of liquidity.
    
    
      Investors should recognize these non-GAAP measures may not be 
      comparable to similarly titled measures of other companies and that the 
      measures presented are not a substitute or alternative for measures of 
      financial performance determined in accordance with GAAP.
    
    
      Forward-looking Statements
    
    
      This announcement includes “forward-looking 
      statements” within the meaning of the Private 
      Securities Litigation Reform Act of 1995. All such statements are based 
      on current expectations and projections about future events. No 
      assurances can be given that Fisher Scientific’s 
      assumptions and expectations will prove to have been correct, and actual 
      results could vary materially from these assumptions and expectations. 
      Important factors that could cause actual results to differ materially 
      from the results predicted include challenges presented by our 
      acquisitions; economic and political risks related to our international 
      operations; changes in the healthcare industry; the impact of government 
      regulation; dependence on our customers' research and development 
      efforts; and changes or disruptions in our relationships with our 
      customers, suppliers and key employees, together with other potential 
      risks and uncertainties, all of which are detailed under the captions “Risk 
      Factors” and “Management’s 
      Discussion and Analysis of Financial Condition and Results of Operations” 
      in Fisher Scientific’s annual reports on Form 
      10-K and its other filings with the Securities and Exchange Commission. 
      Copies of such reports are available on Fisher Scientific’s 
      Web site at www.fisherscientific.com 
      and on the SEC’s Web site at www.sec.gov. 
      Fisher Scientific undertakes no obligation to publicly update or revise 
      any forward-looking statements, whether as a result of new information, 
      future events or otherwise.
    
    
      
        
          
            Table 1
          
        
      
      
        
          Fisher Scientific International Inc.
        
      
      
        
          Consolidated Statement of Operations
        
      
      
        
          (in millions, except per share data)
        
      
      
        
          (UNAUDITED)
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
          Three Months Ended
        
        
        
        
          Nine Months Ended
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
          September 30,
        
        
        
        
          September 30,
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
          2006 
        
        
        
        
          2005 
        
        
        
        
          2006 
        
        
        
        
          2005 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
        
        
        
           
        
        
        
        
           
        
        
        
        
           
        
      
      
        
          Net sales
        
        
        
        
        
        
        
        
        
        
          $ 1,508.1 
        
        
        
        
          $ 1,361.3 
        
        
        
        
          $ 4,386.3 
        
        
        
        
          $ 4,011.2 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Cost of sales
        
        
        
        
        
        
        
        
        
        
          963.4 
        
        
        
        
          884.6 
        
        
        
        
          2,787.1 
        
        
        
        
          2,620.0 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Selling, general and administrative expense
        
        
        
        
        
        
          333.5 
        
        
        
        
          302.7 
        
        
        
        
          1,036.5 
        
        
        
        
          900.3 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Restructuring expense
        
        
        
        
        
        
        
        
          1.2 
        
        
        
        
          4.3 
        
        
        
        
          5.3 
        
        
        
        
          17.5 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Operating income
        
        
        
        
        
        
        
        
        
        
          210.0 
        
        
        
        
          169.7 
        
        
        
        
          557.4 
        
        
        
        
          473.4 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Interest expense
        
        
        
        
        
        
        
        
        
        
          33.8 
        
        
        
        
          21.9 
        
        
        
        
          95.7 
        
        
        
        
          80.1 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Other (income) expense, net
        
        
        
        
        
        
          (16.3)
        
        
        
        
          36.1 
        
        
        
        
          (22.8)
        
        
        
        
          63.9 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Income from continuing operations before income taxes
        
        
        
        
          192.5 
        
        
        
        
          111.7 
        
        
        
        
          484.5 
        
        
        
        
          329.4 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Income tax provision
        
        
        
        
        
        
        
        
        
        
          43.2 
        
        
        
        
          17.4 
        
        
        
        
          107.6 
        
        
        
        
          73.5 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Income from continuing operations
        
        
        
        
        
        
          149.3 
        
        
        
        
          94.3 
        
        
        
        
          376.9 
        
        
        
        
          255.9 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Income (loss) from discontinued operations, net of tax
        
        
        
        
          2.5 
        
        
        
        
          (0.8)
        
        
        
        
          0.1 
        
        
        
        
          16.0 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Net income
        
        
        
        
        
        
        
        
        
        
          $ 151.8 
        
        
        
        
          $ 93.5 
        
        
        
        
          $ 377.0 
        
        
        
        
          $ 271.9 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Basic net income per common share:
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
      
      
        
        
        
          Income from continuing operations
        
        
        
        
          $ 1.20 
        
        
        
        
          $ 0.78 
        
        
        
        
          $ 3.03 
        
        
        
        
          $ 2.12 
        
      
      
        
        
        
          Income (loss) from discontinued operations
        
        
        
        
          0.02 
        
        
        
        
          (0.01)
        
        
        
        
          - 
        
        
        
        
          0.13 
        
      
      
        
        
        
          Net income
        
        
        
        
        
        
        
        
          $ 1.22 
        
        
        
        
          $ 0.77 
        
        
        
        
          $ 3.03 
        
        
        
        
          $ 2.25 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Diluted net income per common share:
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
      
      
        
        
        
          Income from continuing operations
        
        
        
        
          $ 1.12 
        
        
        
        
          $ 0.74 
        
        
        
        
          $ 2.86 
        
        
        
        
          $ 2.01 
        
      
      
        
        
        
          Income (loss) from discontinued operations
        
        
        
        
          0.02 
        
        
        
        
          (0.01)
        
        
        
        
          - 
        
        
        
        
          0.13 
        
      
      
        
        
        
          Net income
        
        
        
        
        
        
        
        
          $ 1.14 
        
        
        
        
          $ 0.73 
        
        
        
        
          $ 2.86 
        
        
        
        
          $ 2.14 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Weighted average common shares outstanding:
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
      
      
        
        
        
          Basic
        
        
        
        
        
        
        
        
        
        
          124.9 
        
        
        
        
          122.2 
        
        
        
        
          124.3 
        
        
        
        
          120.9 
        
      
      
        
        
        
          Diluted
        
        
        
        
        
        
        
        
        
        
          133.0 
        
        
        
        
          128.5 
        
        
        
        
          131.7 
        
        
        
        
          127.2 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          The Laboratory Workstations business and Atos Medical Holding AB 
          (sold on April 5, 2005) are reflected as discontinued operations for 
          all periods presented.
        
      
    
    
    
    
      
        
          Table 2
        
        
        
      
      
        
          Fisher Scientific International Inc.
        
        
        
      
      
        
          Segment Results
        
        
        
      
      
        
          (in millions)
        
        
        
      
      
        
          (UNAUDITED)
        
        
        
      
      
        
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
          Three Months Ended
        
        
        
        
          Nine Months Ended
        
        
        
        
        
        
        
      
      
        
        
        
        
        
        
        
        
        
          September 30,
        
        
        
        
          September 30,
        
        
        
        
        
        
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
          Growth
        
        
        
        
        
        
        
        
        
        
        
        
          Growth
        
        
        
        
        
        
        
        
        
        
        
      
      
        
        
        
        
        
        
        
        
        
          2006 
        
        
        
        
          Rate
        
        
        
        
          2005 
        
        
        
        
          2006 
        
        
        
        
          Rate
        
        
        
        
          2005 
        
        
        
        
        
        
        
      
      
        
        
        
        
        
        
        
        
        
           
        
        
        
        
           
        
        
        
        
           
        
        
        
        
           
        
        
        
        
           
        
        
        
        
           
        
        
        
        
        
        
        
      
      
        
          Net sales
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
      
      
        
           
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
      
      
        
          Scientific Products and Services
        
        
        
        
          $ 1,165.3 
        
        
        
        
          9.9%
        
        
        
        
          $ 1,060.1 
        
        
        
        
          $ 3,368.2 
        
        
        
        
          9.6%
        
        
        
        
          $ 3,074.3 
        
        
        
        
        
        
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Healthcare Products and Services
        
        
        
        
          362.1 
        
        
        
        
          14.0%
        
        
        
        
          317.5 
        
        
        
        
          1,072.0 
        
        
        
        
          9.3%
        
        
        
        
          980.4 
        
        
        
        
        
        
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Eliminations
        
        
        
        
        
        
          (19.3)
        
        
        
        
        
        
        
        
          (16.3)
        
        
        
        
          (53.9)
        
        
        
        
        
        
        
        
          (43.5)
        
        
        
        
        
        
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Total
        
        
        
        
        
        
        
        
          $ 1,508.1 
        
        
        
        
          10.8%
        
        
        
        
          $ 1,361.3 
        
        
        
        
          $ 4,386.3 
        
        
        
        
          9.4%
        
        
        
        
          $ 4,011.2 
        
        
        
        
        
        
        
      
    
    
    
    
      
        
        
        
        
        
        
        
        
        
        
        
          Three Months Ended
        
        
        
        
          Nine Months Ended
        
      
      
        
        
        
        
        
        
        
        
        
        
        
          September 30,
        
        
        
        
          September 30,
        
      
      
        
        
        
        
        
        
        
        
        
        
        
           
        
        
           
        
        
           
        
        
           
        
        
           
        
        
           
        
        
           
        
        
        
        
           
        
        
           
        
        
           
        
        
           
        
        
           
        
        
           
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          Operating
        
        
        
        
        
        
        
        
          Operating
        
        
        
        
        
        
        
        
          Operating
        
        
        
        
        
        
        
        
          Operating
        
      
      
        
        
        
        
        
        
        
        
        
        
        
          2006 
        
        
        
        
          Margin
        
        
        
        
          2005 
        
        
        
        
          Margin
        
        
        
        
          2006 
        
        
        
        
          Margin
        
        
        
        
          2005 
        
        
        
        
          Margin
        
      
      
        
        
        
        
        
        
        
        
        
        
        
           
        
        
        
        
           
        
        
        
        
           
        
        
        
        
           
        
        
        
        
           
        
        
        
        
           
        
        
        
        
           
        
        
        
        
           
        
      
      
        
          Operating income
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Scientific Products and Services
        
        
          $ 173.8 
        
        
        
        
          14.9%
        
        
        
        
          $ 144.9 
        
        
        
        
          13.7%
        
        
        
        
          $ 476.4 
        
        
        
        
          14.1%
        
        
        
        
          $ 416.5 
        
        
        
        
          13.5%
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Healthcare Products and Services
        
        
          53.1 
        
        
        
        
          14.7%
        
        
        
        
          41.7 
        
        
        
        
          13.1%
        
        
        
        
          152.6 
        
        
        
        
          14.2%
        
        
        
        
          126.3 
        
        
        
        
          12.9%
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Eliminations
        
        
        
        
        
        
          
          
        
        
          - 
        
        
        
        
          
          
        
        
        
        
          - 
        
        
        
        
        
        
        
        
          (0.1)
        
        
        
        
        
        
        
        
          (0.1)
        
        
        
        
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Segment sub-total
        
        
          226.9 
        
        
        
        
          15.0%
        
        
        
        
          186.6 
        
        
        
        
          13.7%
        
        
        
        
          628.9 
        
        
        
        
          14.3%
        
        
        
        
          542.7 
        
        
        
        
          13.5%
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Restructuring expense
        
        
          (1.2)
        
        
        
        
        
        
        
        
          (4.3)
        
        
        
        
        
        
        
        
          (5.3)
        
        
        
        
        
        
        
        
          (17.5)
        
        
        
        
        
      
      
        
          Acquisition, integration and other costs
        
        
          (2.9)
        
        
        
        
        
        
        
        
          (12.0)
        
        
        
        
        
        
        
        
          (25.0)
        
        
        
        
        
        
        
        
          (31.1)
        
        
        
        
        
      
      
        
          Inventory step-up amortization
        
        
          - 
        
        
        
        
        
        
        
        
          (0.6)
        
        
        
        
        
        
        
        
          (2.3)
        
        
        
        
        
        
        
        
          (20.7)
        
        
        
        
        
      
      
        
          Equity-based compensation expense
        
        
          (12.8)
        
        
        
        
        
        
        
        
          
            N/A 
          
        
        
        
        
        
        
        
        
          (38.9)
        
        
        
        
        
        
        
        
          
            N/A 
          
        
        
        
        
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Operating income
        
        
          $ 210.0 
        
        
        
        
          13.9%
        
        
        
        
          $ 169.7 
        
        
        
        
          12.5%
        
        
        
        
          $ 557.4 
        
        
        
        
          12.7%
        
        
        
        
          $ 473.4 
        
        
        
        
          11.8%
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          The Laboratory Workstations business and Atos Medical Holding AB 
          (sold on April 5, 2005) are reflected as discontinued operations for 
          all periods presented.
        
      
    
    
    
    
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          Table 3
        
      
      
        
          Fisher Scientific International Inc.
        
      
      
        
          Condensed Consolidated Balance Sheet
        
      
      
        
          (in millions)
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
        
        
          September 30,
        
        
        
        
          December 31,
        
      
      
        
        
        
        
        
        
        
        
        
        
        
          
            2006 
          
        
        
        
        
          2005 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
           
        
        
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
        
        
          (UNAUDITED)
        
        
        
      
      
        
          ASSETS
        
        
        
        
        
        
        
        
        
        
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Current assets:
        
        
        
        
        
        
        
        
        
        
        
      
      
        
        
        
          Cash and cash equivalents
        
        
        
        
        
        
          $ 279.2 
        
        
        
        
          $ 407.2 
        
      
      
        
        
        
          Accounts receivable
        
        
        
        
        
        
          805.3 
        
        
        
        
          679.4 
        
      
      
        
        
        
          Inventories
        
        
        
        
        
        
          646.1 
        
        
        
        
          589.0 
        
      
      
        
        
        
          Other current assets
        
        
        
        
        
        
          279.7 
        
        
        
        
          276.2 
        
      
      
        
        
        
          Assets held for sale
        
        
        
        
        
        
          41.3 
        
        
        
        
          39.5 
        
      
      
        
        
        
        
        
          Total current assets
        
        
        
        
        
        
          2,051.6 
        
        
        
        
          1,991.3 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Property, plant and equipment
        
        
        
        
        
        
          843.3 
        
        
        
        
          788.2 
        
      
      
        
          Goodwill
        
        
        
        
        
        
          4,100.6 
        
        
        
        
          3,769.8 
        
      
      
        
          Intangible assets
        
        
        
        
        
        
          1,710.0 
        
        
        
        
          1,569.1 
        
      
      
        
          Other assets
        
        
        
        
        
        
          314.9 
        
        
        
        
          268.1 
        
      
      
        
          Long-term assets held for sale
        
        
        
        
        
        
          53.5 
        
        
        
        
          59.2 
        
      
      
        
          
          
        
        
          Total assets
        
        
        
        
        
        
          $ 9,073.9 
        
        
        
        
          $ 8,445.7 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          LIABILITIES AND STOCKHOLDERS' EQUITY
        
        
        
        
        
        
        
        
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Current liabilities:
        
        
        
        
        
        
        
        
        
        
        
      
      
        
        
        
          Short-term debt
        
        
        
        
        
        
          $ 38.2 
        
        
        
        
          $ 74.5 
        
      
      
        
        
        
          Accounts payable
        
        
        
        
        
        
          489.5 
        
        
        
        
          479.9 
        
      
      
        
        
        
          Accrued and other current liabilities
        
        
        
        
        
        
          452.0 
        
        
        
        
          429.5 
        
      
      
        
        
        
          Liabilities held for sale
        
        
        
        
        
        
          25.4 
        
        
        
        
          30.9 
        
      
      
        
        
        
        
        
          Total current liabilities
        
        
        
        
        
        
          1,005.1 
        
        
        
        
          1,014.8 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Long-term debt
        
        
        
        
        
        
          2,111.9 
        
        
        
        
          2,135.4 
        
      
      
        
          Other long-term liabilities
        
        
        
        
        
        
          1,032.7 
        
        
        
        
          983.0 
        
      
      
        
          Long-term liabilities held for sale
        
        
        
        
        
        
          8.1 
        
        
        
        
          8.2 
        
      
      
        
        
        
        
        
          Total liabilities
        
        
        
        
        
        
          4,157.8 
        
        
        
        
          4,141.4 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Stockholders' equity
        
        
        
        
        
        
          4,916.1 
        
        
        
        
          4,304.3 
        
      
      
        
        
        
        
        
          Total liabilities and stockholders' equity
        
        
        
        
        
        
          $ 9,073.9 
        
        
        
        
          $ 8,445.7 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          The Laboratory Workstations business and Atos Medical Holding AB 
          (sold on April 5, 2005) are reflected as discontinued operations for 
          all periods presented.
        
      
    
    
    
    
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          Table 4
        
      
      
        
          Fisher Scientific International Inc.
        
      
      
        
          Condensed Consolidated Statement of Cash Flows
        
      
      
        
          (in millions)
        
      
      
        
          (UNAUDITED)
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
        
        
          Nine Months Ended
        
      
      
        
        
        
        
        
        
        
        
        
        
        
          September 30,
        
      
      
        
        
        
        
        
        
        
        
        
        
        
           
        
        
           
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
        
        
          2006 
        
        
        
        
          2005 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
           
        
        
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Cash flows from operating activities:
        
        
        
        
        
        
        
        
        
        
        
      
      
        
        
        
          Net income
        
        
        
        
        
        
          $ 377.0 
        
        
        
        
          $ 271.9 
        
      
      
        
        
        
          Depreciation and amortization
        
        
        
        
        
        
          161.2 
        
        
        
        
          149.5 
        
      
      
        
        
        
          Other adjustments to reconcile net income to cash provided by 
          operating activities
        
        
        
        
          75.1 
        
        
        
        
          94.4 
        
      
      
        
        
        
          Changes in working capital and other assets and liabilities
        
        
        
        
          (189.6)
        
        
        
        
          (120.0)
        
      
      
        
        
        
        
        
          Cash provided by operating activities
        
        
        
        
          423.7 
        
        
        
        
          395.8 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Cash flows from investing activities:
        
        
        
        
        
        
        
        
        
        
        
      
      
        
        
        
          Capital expenditures
        
        
        
        
        
        
          (115.4)
        
        
        
        
          (100.3)
        
      
      
        
        
        
          Acquisitions, net of cash acquired
        
        
        
        
        
        
          (470.2)
        
        
        
        
          (263.8)
        
      
      
        
        
        
          Proceeds from sale of business
        
        
        
        
        
        
          1.0 
        
        
        
        
          109.5 
        
      
      
        
        
        
          Other investing activities
        
        
        
        
        
        
          (16.4)
        
        
        
        
          8.0 
        
      
      
        
        
        
        
        
          
            Cash used in investing activities
          
        
        
        
        
          (601.0)
        
        
        
        
          (246.6)
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Cash flows from financing activities:
        
        
        
        
        
        
        
        
        
        
        
      
      
        
        
        
          Proceeds from stock options exercised
        
        
        
        
          61.9 
        
        
        
        
          119.0 
        
      
      
        
        
        
          Net change in debt
        
        
        
        
        
        
          (60.9)
        
        
        
        
          (150.1)
        
      
      
        
        
        
          Other financing activities
        
        
        
        
        
        
          27.9 
        
        
        
        
          (78.3)
        
      
      
        
        
        
        
        
          
            Cash provided by (used in) financing activities
          
        
        
        
        
          28.9 
        
        
        
        
          (109.4)
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Effect of exchange rate changes on cash and cash equivalents
        
        
        
        
          20.4 
        
        
        
        
          (13.1)
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Net change in cash and cash equivalents
        
        
        
        
          (128.0)
        
        
        
        
          26.7 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Cash and cash equivalents - beginning of period
        
        
        
        
          407.2 
        
        
        
        
          162.5 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Cash and cash equivalents - end of period
        
        
        
        
          $ 279.2 
        
        
        
        
          $ 189.2 
        
      
    
    
    
    
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          Table 5
        
      
      
        
          Fisher Scientific International Inc.
        
      
      
        
          Statement of Operations
        
      
      
        
          Supplemental Information
        
      
      
        
          (in millions, except per share data)
        
      
      
        
          (UNAUDITED)
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
          Three Months Ended
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
          September 30, 2006
        
        
        
        
          September 30, 2005
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
          As Reported
        
        
        
        
          Adjustments
        
        
           
        
        
          
            As Adjusted
          
        
        
        
        
          As Reported
        
        
        
        
          Adjustments
        
        
           
        
        
          As Adjusted
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Net sales
        
        
        
        
          $ 1,508.1 
        
        
        
        
          $ - 
        
        
        
        
          $ 1,508.1 
        
        
        
        
          $ 1,361.3 
        
        
        
        
          $ - 
        
        
        
        
          $ 1,361.3 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Cost of sales
        
        
        
        
          963.4 
        
        
        
        
          (0.1)
        
        
        
        
          963.3 
        
        
        
        
          884.6 
        
        
        
        
          (6.4)
        
        
        
        
          878.2 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Selling, general and administrative expense
        
        
        
        
          333.5 
        
        
        
        
          (15.6)
        
        
        
        
          317.9 
        
        
        
        
          302.7 
        
        
        
        
          (6.2)
        
        
        
        
          296.5 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Restructuring expense
        
        
        
        
          1.2 
        
        
        
        
          (1.2)
        
        
        
        
          - 
        
        
        
        
          4.3 
        
        
        
        
          (4.3)
        
        
        
        
          - 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Operating income
        
        
        
        
          210.0 
        
        
        
        
          16.9 
        
        
        
        
          226.9 
        
        
        
        
          169.7 
        
        
        
        
          16.9 
        
        
        
        
          186.6 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Interest expense
        
        
        
        
          33.8 
        
        
        
        
          - 
        
        
        
        
          33.8 
        
        
        
        
          21.9 
        
        
        
        
          5.3 
        
        
        
        
          27.2 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Other (income) expense, net
        
        
        
        
          (16.3)
        
        
        
        
          12.1 
        
        
        
        
          (4.2)
        
        
        
        
          36.1 
        
        
        
        
          (38.3)
        
        
        
        
          (2.2)
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Income from continuing operations before income taxes
        
        
        
        
          192.5 
        
        
        
        
          4.8 
        
        
        
        
          197.3 
        
        
        
        
          111.7 
        
        
        
        
          49.9 
        
        
        
        
          161.6 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Income tax provision
        
        
        
        
          43.2 
        
        
        
        
          1.6 
        
        
        
        
          44.8 
        
        
        
        
          17.4 
        
        
        
        
          24.7 
        
        
        
        
          42.1 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Income from continuing operations
        
        
        
        
          149.3 
        
        
        
        
          3.2 
        
        
        
        
          152.5 
        
        
        
        
          94.3 
        
        
        
        
          25.2 
        
        
        
        
          119.5 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Income from discontinued operations, net of tax
        
        
        
        
          2.5 
        
        
        
        
          - 
        
        
        
        
          2.5 
        
        
        
        
          (0.8)
        
        
        
        
          - 
        
        
        
        
          (0.8)
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Net income
        
        
        
        
          $ 151.8 
        
        
        
        
          $ 3.2 
        
        
        
        
          $ 155.0 
        
        
        
        
          $ 93.5 
        
        
        
        
          $ 25.2 
        
        
        
        
          $ 118.7 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Diluted net income per common share:
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
      
      
        
        
        
          Income from continuing operations
        
        
        
        
          $ 1.12 
        
        
        
        
          $ 0.03 
        
        
        
        
          $ 1.15 
        
        
        
        
          $ 0.74 
        
        
        
        
          $ 0.19 
        
        
        
        
          $ 0.93 
        
      
      
        
        
        
          Income from discontinued operations
        
        
        
        
          0.02 
        
        
        
        
          - 
        
        
        
        
          0.02 
        
        
        
        
          (0.01)
        
        
        
        
          - 
        
        
        
        
          (0.01)
        
      
      
        
        
        
          Net income
        
        
        
        
          $ 1.14 
        
        
        
        
          $ 0.03 
        
        
        
        
          $ 1.17 
        
        
        
        
          $ 0.73 
        
        
        
        
          $ 0.19 
        
        
        
        
          $ 0.92 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Diluted weighted average common shares outstanding
        
        
        
        
          133.0 
        
        
        
        
        
        
        
        
          133.0 
        
        
        
        
          128.5 
        
        
        
        
        
        
        
        
          128.5 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          
          
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
      
      
        
          
            Additional Supplemental Information and Reconciliation of GAAP 
            to Non-GAAP Diluted EPS
          
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
      
      
        
          GAAP income from continuing operations
        
        
        
        
          $ 1.12 
        
        
        
        
        
        
        
        
        
        
        
        
          $ 0.74 
        
        
        
        
        
        
        
        
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Non-recurring and special items
        
        
        
        
          (0.03)
        
        
        
        
        
        
        
        
        
        
        
        
          0.19 
        
        
        
        
        
        
        
        
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Equity-based compensation expense
        
        
        
        
          0.06 
        
        
        
        
        
        
        
        
        
        
        
        
          N/A 
        
        
        
        
        
        
        
        
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Adjustments (above)
        
        
        
        
        
        
          0.03 
        
        
        
        
        
        
        
        
        
        
        
        
          0.19 
        
        
        
        
        
        
        
        
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
          Sub-total
        
        
        
        
          1.15 
        
        
        
        
        
        
        
        
        
        
        
        
          0.93 
        
        
        
        
        
        
        
        
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Intangible asset amortization, net of tax
        
        
        
        
          0.09 
        
        
        
        
        
        
        
        
        
        
        
        
          0.07 
        
        
        
        
        
        
        
        
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          
          
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
      
      
        
          
            Income from continuing operations, excluding adjustments and 
            intangible asset amortization, net of tax
          
        
        
        
        
          $ 1.24 
        
        
        
        
        
        
        
        
        
        
        
        
          $ 1.00 
        
        
        
        
        
        
        
        
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          The Laboratory Workstations business and Atos Medical Holding AB 
          (sold on April 5, 2005) are reflected as discontinued operations for 
          all periods presented.
        
      
    
    
    
    
      
        
          Table 5A
        
      
      
        
          Fisher Scientific International Inc.
        
      
      
        
          Statement of Operations
        
      
      
        
          Supplemental Information - Adjustments
        
      
      
        
          (in millions)
        
      
      
        
          (unaudited)
        
      
      
        
        
        
        
        
        
        
        
        
        
        
          
          
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          
            Three Months Ended 
          
          
            September 30, 2006
          
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          Income From
        
        
        
        
        
        
        
        
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          Continuing
        
        
        
        
        
        
        
        
          Income
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          Other
        
        
        
        
          Operations
        
        
        
        
          Income
        
        
        
        
          From
        
      
      
        
        
        
        
        
        
        
          Cost of
        
        
        
        
          SG&A
        
        
        
        
          Restructuring
        
        
        
        
          Operating
        
        
        
        
          Interest
        
        
        
        
          (Income)
        
        
        
        
          Before
        
        
        
        
          Tax
        
        
        
        
          Continuing
        
      
      
        
        
        
          Adjustments
        
        
        
        
          Sales
        
        
        
        
          Expense
        
        
           
        
        
          Expense
        
        
        
        
          Income
        
        
        
        
          Expense
        
        
        
        
          Expense
        
        
        
        
          Income Taxes
        
        
        
        
          Provision
        
        
        
        
          Operations
        
      
      
        
          (1)Acquisition and integration costs
        
        
        
        
          $ - 
        
        
        
        
          $ (2.9)
        
        
        
        
          $ - 
        
        
        
        
          $ 2.9 
        
        
        
        
          $ - 
        
        
        
        
          $ (0.4)
        
        
        
        
          $ 3.3 
        
        
        
        
          $ 1.3 
        
        
        
        
          $ 2.0 
        
      
      
        
          (2)Restructuring expense
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          (1.2)
        
        
        
        
          1.2 
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          1.2 
        
        
        
        
          0.5 
        
        
        
        
          0.7 
        
      
      
        
          (3)Gain on sale of investment
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          12.5 
        
        
        
        
          (12.5)
        
        
        
        
          (4.7)
        
        
        
        
          (7.8)
        
      
      
        
          (4)Equity-based compensation expense
        
        
        
        
          (0.1)
        
        
        
        
          (12.7)
        
        
        
        
          - 
        
        
        
        
          12.8 
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          12.8 
        
        
        
        
          4.5 
        
        
        
        
          8.3 
        
      
      
        
        
        
        
        
        
        
          $ (0.1)
        
        
        
        
          $ (15.6)
        
        
        
        
          $ (1.2)
        
        
        
        
          $ 16.9 
        
        
        
        
          $ - 
        
        
        
        
          $ 12.1 
        
        
        
        
          $ 4.8 
        
        
        
        
          $ 1.6 
        
        
        
        
          $ 3.2 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
          Three Months Ended September 30, 2005
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          Income From
        
        
        
        
        
        
        
        
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          Continuing
        
        
        
        
        
        
        
        
          Income
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          Other
        
        
        
        
          Operations
        
        
        
        
          Income
        
        
        
        
          From
        
      
      
        
        
        
        
        
        
        
          Cost of
        
        
        
        
          SG&A
        
        
        
        
          Restructuring
        
        
        
        
          Operating
        
        
        
        
          Interest
        
        
        
        
          (Income)
        
        
        
        
          Before
        
        
        
        
          Tax
        
        
        
        
          Continuing
        
      
      
        
        
        
          Adjustments
        
        
        
        
          Sales
        
        
        
        
          Expense
        
        
        
        
          Expense
        
        
        
        
          Income
        
        
        
        
          Expense
        
        
        
        
          Expense
        
        
        
        
          Income Taxes
        
        
        
        
          Provision
        
        
        
        
          Operations
        
      
      
        
          (1)Acquisition and integration costs
        
        
        
        
          $ (3.6)
        
        
        
        
          $ (5.4)
        
        
        
        
          $ - 
        
        
        
        
          $ 9.0 
        
        
        
        
          $ - 
        
        
        
        
          $ - 
        
        
        
        
          $ 9.0 
        
        
        
        
          $ 3.1 
        
        
        
        
          $ 5.9 
        
      
      
        
          
            (2)Restructuring expense
          
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          (4.3)
        
        
        
        
          4.3 
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          4.3 
        
        
        
        
          1.6 
        
        
        
        
          2.7 
        
      
      
        
          (5)Asset impairment
        
        
        
        
          (2.8)
        
        
        
        
          (0.8)
        
        
        
        
          - 
        
        
        
        
          3.6 
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          3.6 
        
        
        
        
          1.3 
        
        
        
        
          2.3 
        
      
      
        
          (6)Debt refinancing costs
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          (38.3)
        
        
        
        
          38.3 
        
        
        
        
          13.8 
        
        
        
        
          24.5 
        
      
      
        
          
            (7)Gain on interest rate swaps
          
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          5.3 
        
        
        
        
          - 
        
        
        
        
          (5.3)
        
        
        
        
          (1.9)
        
        
        
        
          (3.4)
        
      
      
        
          (8)Income taxes
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          6.8 
        
        
        
        
          (6.8)
        
      
      
        
        
        
        
        
        
        
          $ (6.4)
        
        
        
        
          $ (6.2)
        
        
        
        
          $ (4.3)
        
        
        
        
          $ 16.9 
        
        
        
        
          $ 5.3 
        
        
        
        
          $ (38.3)
        
        
        
        
          $ 49.9 
        
        
        
        
          $ 24.7 
        
        
        
        
          $ 25.2 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          (1)Represents planned inventory step-up amortization related to 
          acquisitions ($0.0 and $0.6 before tax in 2006 and 2005, 
          respectively), transaction costs related to the previously announced 
          Thermo / Fisher merger ($3.3 and $0.0 before tax in 2006 and 2005, 
          respectively) and integration and other costs ($0.0 and $8.4 before 
          tax in 2006 and 2005, respectively).
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          (2)Represents restructuring expenses, including employee termination 
          and other exit costs associated with various consolidation projects.
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          
            (3)Represents gain attributable to the sale of a non-operating 
            investment.
          
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          (4)Represents non-cash stock compensation expense attributable to 
          the adoption of SFAS 123R.
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          (5)Represents write-off of long-lived assets associated with the 
          closure/exit of certain facilities and integration of business units 
          in 2005.
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          (6)Represents refinancing costs primarily incurred in connection 
          with the cash tender offer and redemption of the 8% senior 
          subordinated notes and open market purchases of the 8 1/8% senior 
          subordinated notes.
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          (7)Represents gain recognized on termination of interest rate swaps.
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          (8)Represents a credit related to finalizing certain domestic and 
          foreign tax audits and negotiations.
        
      
    
    
    
    
      
        
          Table 6
        
      
      
        
          Fisher Scientific International Inc.
        
      
      
        
          Statement of Operations
        
      
      
        
          Supplemental Information
        
      
      
        
          (in millions, except per share data)
        
      
      
        
          (UNAUDITED)
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
          
            Nine Months Ended
          
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
          September 30, 2006
        
        
        
        
          September 30, 2005
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
          As
        
        
        
        
        
        
        
        
          As
        
        
        
        
          As
        
        
        
        
        
        
        
        
          As
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
          Reported
        
        
        
        
          Adjustments
        
        
           
        
        
          Adjusted
        
        
        
        
          Reported
        
        
        
        
          Adjustments
        
        
           
        
        
          Adjusted
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Net sales
        
        
        
        
          $ 4,386.3 
        
        
        
        
          $ - 
        
        
        
        
          $ 4,386.3 
        
        
        
        
          $ 4,011.2 
        
        
        
        
          $ - 
        
        
        
        
          $ 4,011.2 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Cost of sales
        
        
        
        
          2,787.1 
        
        
        
        
          (2.9)
        
        
        
        
          2,784.2 
        
        
        
        
          2,620.0 
        
        
        
        
          (31.3)
        
        
        
        
          2,588.7 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Selling, general and administrative expense
        
        
        
        
          1,036.5 
        
        
        
        
          (63.3)
        
        
        
        
          973.2 
        
        
        
        
          900.3 
        
        
        
        
          (20.5)
        
        
        
        
          879.8 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Restructuring expense
        
        
        
        
          5.3 
        
        
        
        
          (5.3)
        
        
        
        
          - 
        
        
        
        
          17.5 
        
        
        
        
          (17.5)
        
        
        
        
          - 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Operating income
        
        
        
        
          557.4 
        
        
        
        
          71.5 
        
        
        
        
          628.9 
        
        
        
        
          473.4 
        
        
        
        
          69.3 
        
        
        
        
          542.7 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Interest expense
        
        
        
        
          95.7 
        
        
        
        
          - 
        
        
        
        
          95.7 
        
        
        
        
          80.1 
        
        
        
        
          5.3 
        
        
        
        
          85.4 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Other (income) expense, net
        
        
        
        
          (22.8)
        
        
        
        
          10.3 
        
        
        
        
          (12.5)
        
        
        
        
          63.9 
        
        
        
        
          (68.6)
        
        
        
        
          (4.7)
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Income from continuing operations before income taxes
        
        
        
        
          484.5 
        
        
        
        
          61.2 
        
        
        
        
          545.7 
        
        
        
        
          329.4 
        
        
        
        
          132.6 
        
        
        
        
          462.0 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Income tax provision
        
        
        
        
          107.6 
        
        
        
        
          22.2 
        
        
        
        
          129.8 
        
        
        
        
          73.5 
        
        
        
        
          54.1 
        
        
        
        
          127.6 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Income from continuing operations
        
        
        
        
          376.9 
        
        
        
        
          39.0 
        
        
        
        
          415.9 
        
        
        
        
          255.9 
        
        
        
        
          78.5 
        
        
        
        
          334.4 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Income (loss) from discontinued operations, net of tax
        
        
        
        
          0.1 
        
        
        
        
          - 
        
        
        
        
          0.1 
        
        
        
        
          16.0 
        
        
        
        
          - 
        
        
        
        
          16.0 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Net income
        
        
        
        
          $ 377.0 
        
        
        
        
          $ 39.0 
        
        
        
        
          $ 416.0 
        
        
        
        
          $ 271.9 
        
        
        
        
          $ 78.5 
        
        
        
        
          $ 350.4 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Diluted net income per common share:
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
      
      
        
        
        
          Income from continuing operations
        
        
        
        
          $ 2.86 
        
        
        
        
          $ 0.30 
        
        
        
        
          $ 3.16 
        
        
        
        
          $ 2.01 
        
        
        
        
          $ 0.61 
        
        
        
        
          $ 2.62 
        
      
      
        
        
        
          Income (loss) from discontinued operations
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          0.13 
        
        
        
        
          - 
        
        
        
        
          0.13 
        
      
      
        
        
        
          Net income
        
        
        
        
          $ 2.86 
        
        
        
        
          $ 0.30 
        
        
        
        
          $ 3.16 
        
        
        
        
          $ 2.14 
        
        
        
        
          $ 0.61 
        
        
        
        
          $ 2.75 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Diluted weighted average common shares outstanding
        
        
        
        
          131.7 
        
        
        
        
        
        
        
        
          131.7 
        
        
        
        
          127.2 
        
        
        
        
        
        
        
        
          127.2 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          
          
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
      
      
        
          
            Additional Supplemental Information and Reconciliation of GAAP 
            to Non-GAAP Diluted EPS
          
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
      
      
        
          GAAP income from continuing operations
        
        
        
        
          $ 2.86 
        
        
        
        
        
        
        
        
        
        
        
        
          $ 2.01 
        
        
        
        
        
        
        
        
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Non-recurring and special items
        
        
        
        
          0.11 
        
        
        
        
        
        
        
        
        
        
        
        
          0.61 
        
        
        
        
        
        
        
        
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Equity-based compensation expense
        
        
        
        
          0.19 
        
        
        
        
        
        
        
        
        
        
        
        
          N/A 
        
        
        
        
        
        
        
        
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Adjustments (above)
        
        
        
        
          0.30 
        
        
        
        
        
        
        
        
        
        
        
        
          0.61 
        
        
        
        
        
        
        
        
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Sub-total
        
        
        
        
          3.16 
        
        
        
        
        
        
        
        
        
        
        
        
          2.62 
        
        
        
        
        
        
        
        
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Intangible asset amortization, net of tax
        
        
        
        
          0.25 
        
        
        
        
        
        
        
        
        
        
        
        
          0.19 
        
        
        
        
        
        
        
        
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          
          
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
      
      
        
          
            Income from continuing operations, excluding adjustments and 
            intangible asset amortization, net of tax
          
        
        
        
        
          $ 3.41 
        
        
        
        
        
        
        
        
        
        
        
        
          $ 2.81 
        
        
        
        
        
        
        
        
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          The Laboratory Workstations business and Atos Medical Holding AB 
          (sold on April 5, 2005) are reflected as discontinued operations for 
          all periods presented.
        
      
    
    
    
    
      
        
          Table 6A
        
      
      
        
          Fisher Scientific International Inc.
        
      
      
        
          Statement of Operations
        
      
      
        
          Supplemental Information - Adjustments
        
      
      
        
          (in millions)
        
      
      
        
          (unaudited)
        
      
      
        
           
        
      
      
        
          
            Nine Months Ended September 30, 2006
          
        
      
      
        
        
        
          
          
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          Income From
        
        
        
        
        
        
        
        
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          Continuing
        
        
        
        
        
        
        
        
          Income
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          Other
        
        
        
        
          Operations
        
        
        
        
          Income
        
        
        
        
          From
        
      
      
        
        
        
        
        
        
        
          Cost of
        
        
        
        
          SG&A
        
        
        
        
          Restructuring
        
        
        
        
          Operating
        
        
        
        
          Interest
        
        
        
        
          (Income)
        
        
        
        
          Before
        
        
        
        
          Tax
        
        
        
        
          Continuing
        
      
      
        
        
        
          Adjustments
        
        
        
        
          Sales
        
        
        
        
          Expense
        
        
        
        
          Expense
        
        
        
        
          Income
        
        
        
        
          Expense
        
        
        
        
          Expense
        
        
        
        
          Income Taxes
        
        
        
        
          Provision
        
        
        
        
          Operations
        
      
      
        
          (1)Acquisition and integration costs
        
        
        
        
          $ (2.6)
        
        
        
        
          $ (24.7)
        
        
        
        
          $ - 
        
        
        
        
          $ 27.3 
        
        
        
        
          $ - 
        
        
        
        
          $ (0.4)
        
        
        
        
          $ 27.7 
        
        
        
        
          $ 10.4 
        
        
        
        
          $ 17.3 
        
      
      
        
          (2)Restructuring expense
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          (5.3)
        
        
        
        
          5.3 
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          5.3 
        
        
        
        
          2.0 
        
        
        
        
          3.3 
        
      
      
        
          (3)Asset impairment
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          (2.0)
        
        
        
        
          2.0 
        
        
        
        
          0.7 
        
        
        
        
          1.3 
        
      
      
        
          
            (4)Gain on sale of investments
          
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          12.7 
        
        
        
        
          (12.7)
        
        
        
        
          (4.7)
        
        
        
        
          (8.0)
        
      
      
        
          
            (5)Equity-based compensation expense
          
        
        
        
        
          (0.3)
        
        
        
        
          (38.6)
        
        
        
        
          - 
        
        
        
        
          38.9 
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          38.9 
        
        
        
        
          13.8 
        
        
        
        
          25.1 
        
      
      
        
        
        
        
        
        
        
          $ (2.9)
        
        
        
        
          $ (63.3)
        
        
        
        
          $ (5.3)
        
        
        
        
          $ 71.5 
        
        
        
        
          $ - 
        
        
        
        
          $ 10.3 
        
        
        
        
          $ 61.2 
        
        
        
        
          $ 22.2 
        
        
        
        
          $ 39.0 
        
      
    
    
    
    
      
        
          
            Nine Months Ended September 30, 2005
          
        
      
      
        
        
        
          
          
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          Income From
        
        
        
        
        
        
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          Continuing
        
        
        
        
        
        
        
        
          Income
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          Other
        
        
        
        
          Operations
        
        
        
        
          Income
        
        
        
        
          From
        
      
      
        
        
        
        
        
        
        
          Cost of
        
        
        
        
          SG&A
        
        
        
        
          Restructuring
        
        
        
        
          Operating
        
        
        
        
          Interest
        
        
        
        
          (Income)
        
        
        
        
          Before
        
        
        
        
          Tax
        
        
        
        
          Continuing
        
      
      
        
        
        
          Adjustments
        
        
        
        
          Sales
        
        
        
        
          Expense
        
        
        
        
          Expense
        
        
        
        
          Income
        
        
        
        
          Expense
        
        
        
        
          Expense
        
        
        
        
          Income Taxes
        
        
        
        
          Provision
        
        
        
        
          Operations
        
      
      
        
          (1)Acquisition and integration costs
        
        
        
        
          $ (27.8)
        
        
        
        
          $ (15.9)
        
        
        
        
          $ - 
        
        
        
        
          $ 43.7 
        
        
        
        
          $ - 
        
        
        
        
          $ 0.5 
        
        
        
        
          $ 43.2 
        
        
        
        
          $ 15.2 
        
        
        
        
          $ 28.0 
        
      
      
        
          (2)Restructuring expense
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          (17.5)
        
        
        
        
          17.5 
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          17.5 
        
        
        
        
          6.2 
        
        
        
        
          11.3 
        
      
      
        
          (3)Asset impairment
        
        
        
        
          (3.5)
        
        
        
        
          (4.6)
        
        
        
        
          - 
        
        
        
        
          8.1 
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          8.1 
        
        
        
        
          2.9 
        
        
        
        
          5.2 
        
      
      
        
          
            (4)Gain on sale of investments
          
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          1.4 
        
        
        
        
          (1.4)
        
        
        
        
          (0.5)
        
        
        
        
          (0.9)
        
      
      
        
          (6)Debt refinancing costs
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          (70.5)
        
        
        
        
          70.5 
        
        
        
        
          25.4 
        
        
        
        
          45.1 
        
      
      
        
          
            (7)Interest rate swaps
          
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          5.3 
        
        
        
        
          - 
        
        
        
        
          (5.3)
        
        
        
        
          (1.9)
        
        
        
        
          (3.4)
        
      
      
        
          (8)Income taxes
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          - 
        
        
        
        
          6.8 
        
        
        
        
          (6.8)
        
      
      
        
        
        
        
        
        
        
          $ (31.3)
        
        
        
        
          $ (20.5)
        
        
        
        
          $ (17.5)
        
        
        
        
          $ 69.3 
        
        
        
        
          $ 5.3 
        
        
        
        
          $ (68.6)
        
        
        
        
          $ 132.6 
        
        
        
        
          $ 54.1 
        
        
        
        
          $ 78.5 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          (1)Represents planned inventory step-up amortization related to 
          acquisitions ($2.3 and $20.7 before tax in 2006 and 2005, 
          respectively), transaction costs related to the previously announced 
          Thermo / Fisher merger ($21.3 and $0.0 before tax in 2006 and 2005, 
          respectively), integration and other costs ($4.1 and $23.0 before 
          tax in 2006 and 2005, respectively) and other non-recurring income 
          ($0.0 and $0.5 before tax in 2006 and 2005, respectively).
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          (2)Represents restructuring expenses, including employee termination 
          and other exit costs associated with various consolidation projects.
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          (3)Represents non-cash write-off of non-operating investment in 2006 
          and write-off of long-lived assets associated with the closure/exit 
          of certain facilities and integration of business units in 2005.
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          (4)Represents gain attributable to the sale of non-operating 
          investments.
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          (5)Represents non-cash stock compensation expense attributable to 
          the adoption of SFAS 123R.
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          (6)Represents refinancing costs primarily incurred in connection 
          with the cash tender offer and redemption of the 8% senior 
          subordinated notes and open market purchases of the 8 1/8% senior 
          subordinated notes.
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          (7)Represents gain recognized on termination of interest rate swaps.
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          (8)Represents a credit related to finalizing certain domestic and 
          foreign tax audits and negotiations.
        
      
    
  
Fisher Scientific International Inc. (NYSE: FSH), the world leader
in serving science, today reported record sales and earnings for the
third quarter ended Sept. 30, 2006, reflecting strong results in both
the core scientific-research and healthcare segments.

   "We reported a record quarter, with sales, earnings and operating
income reaching new highs," said Paul M. Montrone, chairman and chief
executive officer. "Our financial results reflect the continued
strength of our company and the successful execution of our strategy."

   On May 8, Fisher Scientific and Thermo Electron Corporation (NYSE:
TMO) announced a definitive agreement to merge the two companies. As
previously disclosed, the U.S. Federal Trade Commission granted the
companies early termination of the waiting period under the
Hart-Scott-Rodino Antitrust Improvements Act for the merger. Assuming
that the European Commission clears the transaction on Nov. 9, the
company expects to complete the merger on that date.

   Third-Quarter Reported Results

   Sales for the third quarter increased 10.8 percent to $1,508.1
million compared with $1,361.3 million in the corresponding period of
2005. Excluding the effect of foreign exchange, sales totaled $1,492.4
million in the third quarter, a 9.6 percent increase over the same
quarter in 2005. Organic growth in the core scientific-research and
healthcare markets accelerated from the prior quarter to 8.6 percent.
Including the forecasted effect of reduced demand for safety-related
products, organic growth was 6.4 percent.

   In European markets, organic growth was in the high single digits,
outpacing market growth, as a result of customer-specific initiatives
and programs to expand the company's life science product portfolio.
Double-digit growth in Asia was driven primarily by the increased pace
of research activity in China.

   Third-quarter net income was $151.8 million compared with $93.5
million in the prior-year period. Income from continuing operations
for the third quarter increased to $149.3 million, or $1.12 per
diluted share, from $94.3 million, or 74 cents per diluted share, in
the same period of 2005. Net income and income from continuing
operations include $2.0 million, net of tax ($3.3 million pre-tax) of
acquisition and integration costs, $0.7 million, net of tax ($1.2
million pre-tax) of restructuring expense, $7.8 million, net of tax
($12.5 million pre-tax) of gain on the sale of investments, and $8.3
million, net of tax ($12.8 million pre-tax) of equity-based
compensation expense related to FAS 123R, which are detailed in the
attached supplementary tables.

   For the nine months ended Sept. 30, 2006, sales totaled $4,386.3
million, a 9.4 percent increase over sales of $4,011.2 million in the
corresponding period last year. In the first nine months of 2006,
foreign exchange translation had a minimal effect on sales compared
with the corresponding period in the prior year. Net income in the
first nine months was $377.0 million compared with $271.9 million in
the same period of 2005. Income from continuing operations for the
first nine months was $376.9 million, or $2.86 per diluted share,
compared with $255.9 million, or $2.01 per diluted share in the
prior-year period.

   During the first nine months of 2006, Fisher generated $423.7
million in cash from operations, primarily reflecting growth in
operating earnings. Capital expenditures during the same period were
$115.4 million, representing maintenance capital expenditures,
investments in the company's life science and managed-services
businesses, expansion of distribution capabilities in Europe and the
ongoing integration of Apogent manufacturing facilities. In the first
nine months, free cash flow, defined as cash from operations less
capital expenditures, was $308.3 million, compared with a full-year
estimate of $525 million to $550 million.

   Adjusted Financial Results

   The following discussion excludes nonrecurring and special items
and the effect of equity-based compensation expense related to FAS
123R. In the attached supplementary information tables, these items
are reconciled to the most directly comparable financial measures
computed in accordance with accounting principles generally accepted
in the United States (GAAP).

   Operating income for the third quarter was $226.9 million, an
increase of 21.6 percent, compared with $186.6 million in the same
quarter of 2005, reflecting increased sales volume, recent
higher-margin acquisitions, productivity initiatives, and incremental
synergies from the Apogent merger.

   Third-quarter income from continuing operations increased 27.6
percent to $152.5 million compared with $119.5 million in the
corresponding period of 2005. The increase primarily reflects growth
in operating income and a lower tax rate. Diluted earnings per share
(EPS) from continuing operations increased 23.7 percent to $1.15 in
the third quarter compared with 93 cents in the same period of 2005.
Diluted EPS from continuing operations excluding intangible asset
amortization, net of tax, totaled $1.24, a 24.0 percent increase
compared with $1.00 in the third quarter last year. Equity-based
compensation expense related to FAS 123R was 6 cents per diluted share
in the third quarter of 2006.

   Operating income for the nine-month period increased 15.9 percent
to $628.9 million compared with $542.7 million during the same period
in the prior year. Income from continuing operations for the first
nine months of 2006 increased 24.4 percent to $415.9 million compared
with $334.4 million in the same period of 2005.

   Year-to-date diluted EPS from continuing operations was $3.16, an
increase of 20.6 percent, compared with $2.62 in the corresponding
period of 2005. Diluted EPS from continuing operations excluding
intangible asset amortization, net of tax, totaled $3.41, a 21.4
percent increase compared with $2.81 in the same period last year.
Equity-based compensation expense was 19 cents per diluted share in
the first nine months of 2006.

   Business-Segment Results

   Sales of scientific products and services in the third quarter
increased to $1,165.3 million, a 9.9 percent increase compared with
the prior-year period. Excluding the effect of foreign exchange,
third-quarter sales in this segment rose 8.5 percent to $1,150.3
million.

   Organic sales growth in the core scientific research market
accelerated from the prior quarter to 8.8 percent reflecting strength
across all of the company's core customer segments. Including the
effect of safety-related products, organic growth in the segment was
6.0 percent.

   Mid-teens growth from pharma customers reflected strong demand for
the company's proprietary product and service offering. Continuing
strong market conditions and the company's recent investments in sales
and marketing initiatives resulted in more than 20 percent growth from
biotech customers. Growth in the academic markets was in the mid
single digits, reflecting consistent growth across colleges and
universities as well as medical research institutes. Fisher realized
mid single-digit growth in the industrial markets driven by
customer-specific sales initiatives and the ongoing strength of the
U.S. economy. Excluding safety-related products, which continue to be
affected by the forecasted slowdown in demand for
domestic-preparedness products, sales to government customers
increased in the mid-teens, fueled by strong demand from federal
government agencies.

   In the scientific products and services segment, operating income
increased 19.9 percent to $173.8 million from $144.9 million in the
corresponding period of 2005, primarily reflecting the benefit of
fixed-cost leverage, the sales benefit of investments in R&D and sales
and marketing initiatives, contributions from recently completed
higher-margin acquisitions and synergies from the Apogent merger.

   For the nine months ended Sept. 30, 2006, sales of scientific
products and services increased 9.6 percent to $3,368.2 million
compared with $3,074.3 million in the comparable period of 2005.
Foreign exchange translation had minimal effect on sales of scientific
products and services in the first nine months of 2006 compared with
the corresponding period in the prior year.

   For the first nine months, operating income in the scientific
products and services segment was $476.4 million, representing an
increase of 14.4 percent from $416.5 million in the same period in
2005.

   Third-quarter sales of healthcare products and services totaled
$362.1 million, an increase of 14.0 percent compared with the
prior-year period. Excluding the effect of foreign exchange, sales
totaled $361.2 million, a 13.8 percent increase from the corresponding
period in the prior year. Organic sales growth, excluding foreign
exchange, was 8.6 percent in the third quarter compared with the same
period last year, representing the third consecutive quarter of
accelerating growth. This growth was fueled by increased sales of
proprietary diagnostic tests and an increase in outsourcing trends at
life science and diagnostic companies.

   Operating income increased 27.3 percent to $53.1 million from
$41.7 million in the third quarter last year, reflecting fixed-cost
leverage, increased productivity and incremental synergies related to
the Apogent merger.

   For the first nine months, sales of healthcare products and
services increased 9.3 percent to $1,072.0 million compared with the
first nine months of 2005. Excluding the effect of foreign exchange,
sales totaled $1,072.9 million, a 9.4 percent increase compared with
the first nine months of 2005. Year-to-date operating income increased
20.8 percent to $152.6 million from $126.3 million in the
corresponding period last year.

   Company Outlook

   Consistent with the company's prior practice, Fisher is providing
guidance for its 2006 financial results. This outlook reflects the
forecasted results of Fisher Scientific on a stand-alone basis and
does not incorporate the costs and potential synergies associated with
the pending merger with Thermo Electron.

   For 2006, Fisher Scientific expects total sales growth, excluding
the translation effect of foreign exchange, of approximately 10
percent, with organic growth in the core scientific research and
healthcare markets of approximately 8 percent. Including the effect of
safety-related products, the company expects organic growth to be
approximately 6 percent. The company is raising its guidance for
operating income margin to a range of 14.4 percent to 14.5 percent for
the full year, compared with the previous guidance of 14.1 percent to
14.3 percent.

   The company is raising its full-year earnings guidance to $4.30 to
$4.35 per share, reflecting continued strong operating results and a
reduced long-term tax rate of approximately 24 percent for the full
year. Diluted EPS excluding intangible asset amortization, net of tax,
is expected to be in the range of $4.65 to $4.70. The company's
guidance for operating income and earnings excludes discontinued
operations, nonrecurring and special items, and the effect of
equity-based compensation expense related to FAS 123R, which is
expected to be approximately 28 cents per share.

   Fisher is maintaining its guidance for 2006 cash from operations
in the range of $675 million to $700 million, and free cash flow in
the range of $525 million to $550 million.

   In light of the pending merger with Thermo Electron, Fisher
Scientific will not be hosting an earnings conference call.

   Fisher Scientific: The World Leader in Serving Science

   Fisher Scientific International Inc. (NYSE: FSH) is a leading
provider of products and services to the scientific community. Fisher
facilitates discovery by supplying researchers and clinicians in labs
around the world with the tools they need. We serve pharmaceutical and
biotech companies; colleges and universities; medical-research
institutions; hospitals; reference, quality-control, process-control
and R&D labs in various industries; as well as government agencies.
From biochemicals, cell-culture media and proprietary RNAi technology
to rapid-diagnostic tests, safety products and other consumable
supplies, Fisher provides more than 600,000 products and services.
This broad offering, combined with Fisher's globally integrated supply
chain and unmatched sales and marketing capabilities, helps make our
350,000 customers more efficient and effective at what they do.

   Founded in 1902, Fisher Scientific is a FORTUNE 500 company and is
a component of the S&P 500 Index. With approximately 19,500 employees
worldwide, the company had revenues of $5.6 billion in 2005. Fisher
Scientific is a company committed to delivering on our promises -- to
customers, shareholders and employees alike. Additional information
about Fisher is available on the company's Web site at
www.fisherscientific.com.

   Use of Non-GAAP Financial Measures

   To supplement Fisher Scientific's financial statements presented
in accordance with accounting principles generally accepted in the
United States of America (GAAP), the company provides certain non-GAAP
measures of financial performance and liquidity, as more fully
discussed below.

   Fisher Scientific defines adjusted income from continuing
operations, adjusted diluted income per share from continuing
operations (also referred to as adjusted diluted earnings per share),
and adjusted operating income as income from continuing operations,
diluted income per share from continuing operations and operating
income, respectively, each computed in accordance with GAAP, excluding
the effect of equity-based compensation expense related to the
adoption of FAS 123R and items that the company considers to be
special or nonrecurring to the company's operations. The company
defines adjusted operating margin as adjusted operating income as a
percentage of sales. The company calculates and discloses these
aforementioned non-GAAP measures because it believes that these
measures may assist investors in evaluating trends of the company's
operating results without regard to the effect of equity-based
compensation expense related to the adoption of FAS 123R and items
that are special or not considered recurring. Fisher defines adjusted
diluted income per share from continuing operations excluding
intangible asset amortization as adjusted diluted income per share
from continuing operations plus amortization of intangible assets as
calculated on a per diluted share basis. The company calculates and
discloses this measure because it believes that the exclusion of the
intangibles amortization may assist investors in evaluating the
company's operating results that are consistent over time for both
newly acquired and historical businesses. The company defines free
cash flow as cash provided by operating activities less capital
expenditures, each computed in accordance with GAAP. Fisher Scientific
believes that free cash flow is a useful measure of liquidity.

   Investors should recognize these non-GAAP measures may not be
comparable to similarly titled measures of other companies and that
the measures presented are not a substitute or alternative for
measures of financial performance determined in accordance with GAAP.

   Forward-looking Statements

   This announcement includes "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. All
such statements are based on current expectations and projections
about future events. No assurances can be given that Fisher
Scientific's assumptions and expectations will prove to have been
correct, and actual results could vary materially from these
assumptions and expectations. Important factors that could cause
actual results to differ materially from the results predicted include
challenges presented by our acquisitions; economic and political risks
related to our international operations; changes in the healthcare
industry; the impact of government regulation; dependence on our
customers' research and development efforts; and changes or
disruptions in our relationships with our customers, suppliers and key
employees, together with other potential risks and uncertainties, all
of which are detailed under the captions "Risk Factors" and
"Management's Discussion and Analysis of Financial Condition and
Results of Operations" in Fisher Scientific's annual reports on Form
10-K and its other filings with the Securities and Exchange
Commission. Copies of such reports are available on Fisher
Scientific's Web site at www.fisherscientific.com and on the SEC's Web
site at www.sec.gov. Fisher Scientific undertakes no obligation to
publicly update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.

-0-
*T
                                                               Table 1
                 Fisher Scientific International Inc.
                 Consolidated Statement of Operations
                 (in millions, except per share data)
                             (UNAUDITED)


                               Three Months Ended   Nine Months Ended
                                  September 30,       September 30,
                               ------------------- -------------------

                                   2006      2005      2006      2005

                               --------- --------- --------- ---------
Net sales                      $1,508.1  $1,361.3  $4,386.3  $4,011.2

Cost of sales                     963.4     884.6   2,787.1   2,620.0

Selling, general and
 administrative expense           333.5     302.7   1,036.5     900.3

Restructuring expense               1.2       4.3       5.3      17.5
                               --------- --------- --------- ---------

Operating income                  210.0     169.7     557.4     473.4

Interest expense                   33.8      21.9      95.7      80.1

Other (income) expense, net       (16.3)     36.1     (22.8)     63.9
                               --------- --------- --------- ---------

Income from continuing
 operations before income
 taxes                            192.5     111.7     484.5     329.4

Income tax provision               43.2      17.4     107.6      73.5
                               --------- --------- --------- ---------

Income from continuing
 operations                       149.3      94.3     376.9     255.9

Income (loss) from
 discontinued operations, net
 of tax                             2.5      (0.8)      0.1      16.0
                               --------- --------- --------- ---------


Net income                       $151.8     $93.5    $377.0    $271.9
                               ========= ========= ========= =========

Basic net income per common
 share:
   Income from continuing
    operations                    $1.20     $0.78     $3.03     $2.12
   Income (loss) from
    discontinued operations        0.02     (0.01)        -      0.13
                               --------- --------- --------- ---------
   Net income                     $1.22     $0.77     $3.03     $2.25
                               ========= ========= ========= =========


Diluted net income per common
 share:
   Income from continuing
    operations                    $1.12     $0.74     $2.86     $2.01
   Income (loss) from
    discontinued operations        0.02     (0.01)        -      0.13
                               --------- --------- --------- ---------
   Net income                     $1.14     $0.73     $2.86     $2.14
                               ========= ========= ========= =========

Weighted average common shares
 outstanding:
     Basic                        124.9     122.2     124.3     120.9
                               ========= ========= ========= =========
     Diluted                      133.0     128.5     131.7     127.2
                               ========= ========= ========= =========




The Laboratory Workstations business and Atos Medical Holding AB (sold
 on April 5, 2005) are reflected as discontinued operations for all
 periods presented.
*T

-0-
*T
                                                              Table 2
                Fisher Scientific International Inc.
                           Segment Results
                            (in millions)
                             (UNAUDITED)

                  Three Months Ended         Nine Months Ended
                    September 30,              September 30,
              -------------------------- --------------------------

                        Growth                     Growth
                  2006   Rate      2005      2006   Rate      2005

              --------- ------ --------- --------- ------ ---------
Net sales

-------
Scientific
 Products and
 Services     $1,165.3    9.9% $1,060.1  $3,368.2    9.6% $3,074.3

Healthcare
 Products and
 Services        362.1   14.0%    317.5   1,072.0    9.3%    980.4

Eliminations     (19.3)           (16.3)    (53.9)           (43.5)
              ---------        --------- ---------        ---------

  Total       $1,508.1   10.8% $1,361.3  $4,386.3    9.4% $4,011.2
              =========        ========= =========        =========
*T

-0-
*T
                                          Three Months Ended
                                             September 30,

                                  -----------------------------------
                                          Operating         Operating
                                    2006   Margin     2005   Margin

                                  ------- --------- ------- ---------
Operating income
--------------------------------

Scientific Products and Services  $173.8      14.9% $144.9      13.7%

Healthcare Products and Services    53.1      14.7%   41.7      13.1%

Eliminations                           -                 -
                                  -------           -------

Segment sub-total                  226.9      15.0%  186.6      13.7%

Restructuring expense               (1.2)             (4.3)
Acquisition, integration and other
 costs                              (2.9)            (12.0)
Inventory step-up amortization         -              (0.6)
Equity-based compensation expense  (12.8)              N/A
                                  -------           -------

Operating income                  $210.0      13.9% $169.7      12.5%
                                  =======           =======



                                         Nine Months Ended
                                           September 30,

                               --------------------------------------
                                        Operating           Operating
                                  2006   Margin       2005   Margin

                               -------- ---------  -------- ---------
Operating income
-------------------

Scientific Products and
 Services                       $476.4      14.1%   $416.5      13.5%

Healthcare Products and
 Services                        152.6      14.2%    126.3      12.9%

Eliminations                      (0.1)               (0.1)
                               --------            --------

Segment sub-total                628.9      14.3%    542.7      13.5%

Restructuring expense             (5.3)              (17.5)
Acquisition, integration and
 other costs                     (25.0)              (31.1)
Inventory step-up amortization    (2.3)              (20.7)
Equity-based compensation
 expense                         (38.9)                N/A
                               --------            --------

Operating income                $557.4      12.7%   $473.4      11.8%
                               ========            ========



The Laboratory Workstations business and Atos Medical Holding AB (sold
 on April 5, 2005) are reflected as discontinued operations for all
 periods presented.
*T

-0-
*T
                                                               Table 3
                 Fisher Scientific International Inc.
                 Condensed Consolidated Balance Sheet
                            (in millions)


                                                  September  December
                                                      30,       31,
                                                    2006       2005

                                                  ---------- ---------
                                                  (UNAUDITED)
ASSETS

Current assets:
 Cash and cash equivalents                           $279.2    $407.2
 Accounts receivable                                  805.3     679.4
 Inventories                                          646.1     589.0
 Other current assets                                 279.7     276.2
 Assets held for sale                                  41.3      39.5
                                                  ---------- ---------
            Total current assets                    2,051.6   1,991.3

Property, plant and equipment                         843.3     788.2
Goodwill                                            4,100.6   3,769.8
Intangible assets                                   1,710.0   1,569.1
Other assets                                          314.9     268.1
Long-term assets held for sale                         53.5      59.2
                                                  ---------- ---------
            Total assets                           $9,073.9  $8,445.7
                                                  ========== =========

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:
 Short-term debt                                      $38.2     $74.5
 Accounts payable                                     489.5     479.9
 Accrued and other current liabilities                452.0     429.5
 Liabilities held for sale                             25.4      30.9
                                                  ---------- ---------
            Total current liabilities               1,005.1   1,014.8

Long-term debt                                      2,111.9   2,135.4
Other long-term liabilities                         1,032.7     983.0
Long-term liabilities held for sale                     8.1       8.2
                                                  ---------- ---------
            Total liabilities                       4,157.8   4,141.4
                                                  ---------- ---------

Stockholders' equity                                4,916.1   4,304.3
                                                  ---------- ---------
            Total liabilities and stockholders'
             equity                                $9,073.9  $8,445.7
                                                  ========== =========



The Laboratory Workstations business and Atos Medical Holding AB (sold
 on April 5, 2005) are reflected as discontinued operations for all
 periods presented.
*T

-0-
*T
                                                               Table 4
                 Fisher Scientific International Inc.
            Condensed Consolidated Statement of Cash Flows
                            (in millions)
                             (UNAUDITED)

                                                        Nine Months
                                                            Ended
                                                        September 30,

                                                       ---------------

                                                         2006    2005

                                                       ------- -------

Cash flows from operating activities:
 Net income                                            $377.0  $271.9
 Depreciation and amortization                          161.2   149.5
 Other adjustments to reconcile net income to cash
  provided by operating activities                       75.1    94.4
 Changes in working capital and other assets and
  liabilities                                          (189.6) (120.0)
                                                       ------- -------
  Cash provided by operating activities                 423.7   395.8
                                                       ------- -------

Cash flows from investing activities:
 Capital expenditures                                  (115.4) (100.3)
 Acquisitions, net of cash acquired                    (470.2) (263.8)
 Proceeds from sale of business                           1.0   109.5
 Other investing activities                             (16.4)    8.0
                                                       ------- -------
  Cash used in investing activities                    (601.0) (246.6)
                                                       ------- -------

Cash flows from financing activities:
 Proceeds from stock options exercised                   61.9   119.0
 Net change in debt                                     (60.9) (150.1)
 Other financing activities                              27.9   (78.3)
                                                       ------- -------
  Cash provided by (used in) financing activities        28.9  (109.4)
                                                       ------- -------

Effect of exchange rate changes on cash and cash
 equivalents                                             20.4   (13.1)
                                                       ------- -------

Net change in cash and cash equivalents                (128.0)   26.7

Cash and cash equivalents - beginning of period         407.2   162.5
                                                       ------- -------

Cash and cash equivalents - end of period              $279.2  $189.2
                                                       ======= =======
*T

-0-
*T
                                                               Table 5
                 Fisher Scientific International Inc.
                       Statement of Operations
                       Supplemental Information
                 (in millions, except per share data)
                             (UNAUDITED)


                                             Three Months Ended
                                      --------------------------------
                                            September 30, 2006
                                      -------------------------------


                                         As                    As
                                       Reported Adjustments  Adjusted
                                      --------- ---------------------

Net sales                             $1,508.1          $-  $1,508.1

Cost of sales                            963.4        (0.1)    963.3

Selling, general and administrative
 expense                                 333.5       (15.6)    317.9

Restructuring expense                      1.2        (1.2)        -
                                      --------- ----------- ---------

Operating income                         210.0        16.9     226.9

Interest expense                          33.8           -      33.8

Other (income) expense, net              (16.3)       12.1      (4.2)
                                      --------- ----------- ---------

Income from continuing operations
 before income taxes                     192.5         4.8     197.3

Income tax provision                      43.2         1.6      44.8
                                      --------- ----------- ---------

Income from continuing operations        149.3         3.2     152.5

Income from discontinued operations,
 net of tax                                2.5           -       2.5
                                      --------- ----------- ---------

Net income                              $151.8        $3.2    $155.0
                                      ========= =========== =========

  Diluted net income per common
   share:
      Income from continuing
       operations                        $1.12       $0.03     $1.15
      Income from discontinued
       operations                         0.02           -      0.02
                                      --------- ----------- ---------
      Net income                         $1.14       $0.03     $1.17
                                      ========= =========== =========

Diluted weighted average common
 shares outstanding                      133.0                 133.0
                                      =========             =========




Additional Supplemental Information
 and Reconciliation of GAAP to Non-
 GAAP Diluted EPS
-------------------------------------
GAAP income from continuing
 operations                              $1.12
                                      ---------

      Non-recurring and special items    (0.03)

      Equity-based compensation
       expense                            0.06
                                      ---------

Adjustments (above)                       0.03
                                      ---------

      Sub-total                           1.15

Intangible asset amortization, net of
 tax                                      0.09
                                      ---------


Income from continuing operations,
 excluding adjustments and intangible
 asset amortization, net of tax          $1.24
                                      =========




                                            Three Months Ended
                                     ---------------------------------
                                             September 30, 2005
                                       -------------------------------


                                          As                    As
                                        Reported Adjustments  Adjusted
                                       --------- ---------------------

Net sales                              $1,361.3          $-  $1,361.3

Cost of sales                             884.6        (6.4)    878.2

Selling, general and administrative
 expense                                  302.7        (6.2)    296.5

Restructuring expense                       4.3        (4.3)        -
                                       --------- ----------- ---------

Operating income                          169.7        16.9     186.6

Interest expense                           21.9         5.3      27.2

Other (income) expense, net                36.1       (38.3)     (2.2)
                                       --------- ----------- ---------

Income from continuing operations
 before income taxes                      111.7        49.9     161.6

Income tax provision                       17.4        24.7      42.1
                                       --------- ----------- ---------

Income from continuing operations          94.3        25.2     119.5

Income from discontinued operations,
 net of tax                                (0.8)          -      (0.8)
                                       --------- ----------- ---------

Net income                                $93.5       $25.2    $118.7
                                       ========= =========== =========

  Diluted net income per common
   share:
       Income from continuing
        operations                        $0.74       $0.19     $0.93
       Income from discontinued
        operations                        (0.01)          -     (0.01)
                                       --------- ----------- ---------
       Net income                         $0.73       $0.19     $0.92
                                       ========= =========== =========

Diluted weighted average common
 shares outstanding                       128.5                 128.5
                                       =========             =========




Additional Supplemental Information
 and Reconciliation of GAAP to Non-
 GAAP Diluted EPS
-------------------------------------
GAAP income from continuing
 operations                               $0.74
                                       ---------

      Non-recurring and special items      0.19

      Equity-based compensation
       expense                              N/A
                                       ---------

Adjustments (above)                        0.19
                                       ---------

       Sub-total                           0.93

Intangible asset amortization, net of
 tax                                       0.07
                                       ---------


Income from continuing operations,
 excluding adjustments and intangible
 asset amortization, net of tax           $1.00
                                       =========



The Laboratory Workstations business and Atos Medical Holding AB (sold
 on April 5, 2005) are reflected as discontinued operations for all
 periods presented.
*T

-0-
*T
                                                              Table 5A
                 Fisher Scientific International Inc.
                       Statement of Operations
                Supplemental Information - Adjustments
                            (in millions)
                             (unaudited)



Three Months Ended
September 30, 2006



                                Cost
                                  of    SG&A   Restructuring Operating
           Adjustments          Sales  Expense    Expense     Income
   ---------------------------- ------ --------------------- ---------
(1)Acquisition and integration
 costs                             $-   $(2.9)           $-      $2.9
(2)Restructuring expense            -       -          (1.2)      1.2
(3)Gain on sale of investment       -       -             -         -
(4)Equity-based compensation
 expense                         (0.1)  (12.7)            -      12.8
                                ------ ------- ------------- ---------
                                $(0.1) $(15.6)        $(1.2)    $16.9
                                ====== ======= ============= =========




Three Months Ended
September 30, 2006
                                        Income
                                          From
                                       Continuing             Income
                               Other   Operations  Income      From
                     Interest (Income)   Before      Tax    Continuing
      Adjustments    Expense  Expense   Income    Provision Operations
                                          Taxes
   ----------------- -------- -------- ---------- --------- ----------
(1)Acquisition and
 integration costs        $-    $(0.4)      $3.3      $1.3       $2.0
(2)Restructuring
 expense                   -        -        1.2       0.5        0.7
(3)Gain on sale of
 investment                -     12.5      (12.5)     (4.7)      (7.8)
(4)Equity-based
 compensation
 expense                   -        -       12.8       4.5        8.3
                     -------- -------- ---------- --------- ----------
                          $-    $12.1       $4.8      $1.6       $3.2
                     ======== ======== ========== ========= ==========



   Three Months Ended September
    30, 2005



                                Cost    SG&A   Restructuring Operating
                                  of
           Adjustments          Sales  Expense    Expense     Income
   ---------------------------- ------ ------- ------------- ---------
(1)Acquisition and integration
 costs                          $(3.6)  $(5.4)           $-      $9.0
(2)Restructuring expense            -       -          (4.3)      4.3
(5)Asset impairment              (2.8)   (0.8)            -       3.6
(6)Debt refinancing costs           -       -             -         -
(7)Gain on interest rate swaps      -       -             -         -
(8)Income taxes                     -       -             -         -
                                ------ ------- ------------- ---------
                                $(6.4)  $(6.2)        $(4.3)    $16.9
                                ====== ======= ============= =========





  Three Months Ended
   September 30,
   2005
                                        Income
                                          From
                                       Continuing             Income
                               Other   Operations  Income      From
                     Interest (Income)   Before      Tax    Continuing
     Adjustments     Expense  Expense   Income    Provision Operations
                                          Taxes
  ------------------ -------- -------- ---------- --------- ----------
(1)Acquisition and
 integration costs        $-       $-       $9.0      $3.1       $5.9
(2)Restructuring
 expense                   -        -        4.3       1.6        2.7
(5)Asset impairment        -        -        3.6       1.3        2.3
(6)Debt refinancing
 costs                     -    (38.3)      38.3      13.8       24.5
(7)Gain on interest
 rate swaps              5.3        -       (5.3)     (1.9)      (3.4)
(8)Income taxes            -        -          -       6.8       (6.8)
                     -------- -------- ---------- --------- ----------
                        $5.3   $(38.3)     $49.9     $24.7      $25.2
                     ======== ======== ========== ========= ==========




(1)Represents planned inventory step-up amortization related to
 acquisitions ($0.0 and $0.6 before tax in 2006 and 2005,
 respectively), transaction costs related to the previously announced
 Thermo / Fisher merger ($3.3 and $0.0 before tax in 2006 and 2005,
 respectively) and integration and other costs ($0.0 and $8.4 before
 tax in 2006 and 2005, respectively).

(2)Represents restructuring expenses, including employee termination
 and other exit costs associated with various consolidation projects.

(3)Represents gain attributable to the sale of a non-operating
 investment.

(4)Represents non-cash stock compensation expense attributable to the
 adoption of SFAS 123R.

(5)Represents write-off of long-lived assets associated with the
 closure/exit of certain facilities and integration of business units
 in 2005.

(6)Represents refinancing costs primarily incurred in connection with
 the cash tender offer and redemption of the 8% senior subordinated
 notes and open market purchases of the 8 1/8% senior subordinated
 notes.

(7)Represents gain recognized on termination of interest rate swaps.

(8)Represents a credit related to finalizing certain domestic and
 foreign tax audits and negotiations.
*T

-0-
*T
                                                               Table 6
                 Fisher Scientific International Inc.
                       Statement of Operations
                       Supplemental Information
                 (in millions, except per share data)
                             (UNAUDITED)


                                             Nine Months Ended
                                      --------------------------------
                                            September 30, 2006
                                      --------------------------------

                                         As                    As
                                      Reported  Adjustments Adjusted
                                      --------- ----------------------

Net sales                             $4,386.3          $-  $4,386.3

Cost of sales                          2,787.1        (2.9)  2,784.2

Selling, general and administrative
 expense                               1,036.5       (63.3)    973.2

Restructuring expense                      5.3        (5.3)        -
                                      --------- ----------- ----------

Operating income                         557.4        71.5     628.9

Interest expense                          95.7           -      95.7

Other (income) expense, net              (22.8)       10.3     (12.5)
                                      --------- ----------- ----------

Income from continuing operations
 before income taxes                     484.5        61.2     545.7

Income tax provision                     107.6        22.2     129.8
                                      --------- ----------- ----------

Income from continuing operations        376.9        39.0     415.9

Income (loss) from discontinued
 operations, net of tax                    0.1           -       0.1
                                      --------- ----------- ----------

Net income                              $377.0       $39.0    $416.0
                                      ========= =========== ==========

  Diluted net income per common
   share:
    Income from continuing operations    $2.86       $0.30     $3.16
    Income (loss) from discontinued
     operations                              -           -         -
                                      --------- ----------- ----------
    Net income                           $2.86       $0.30     $3.16
                                      ========= =========== ==========

Diluted weighted average common
 shares outstanding                      131.7                 131.7
                                      =========             ==========




Additional Supplemental Information
 and Reconciliation of GAAP to Non-
 GAAP Diluted EPS
-------------------------------------
GAAP income from continuing
 operations                              $2.86
                                      ---------

      Non-recurring and special items     0.11

      Equity-based compensation
       expense                            0.19
                                      ---------

Adjustments (above)                       0.30
                                      ---------

      Sub-total                           3.16

Intangible asset amortization, net of
 tax                                      0.25
                                      ---------


Income from continuing operations,
 excluding adjustments and intangible
 asset amortization, net of tax          $3.41
                                      =========

                                             Nine Months Ended
                                     ---------------------------------
                                             September 30, 2005
                                       -------------------------------

                                          As                    As
                                       Reported  Adjustments Adjusted
                                       --------- ---------------------

Net sales                              $4,011.2          $-  $4,011.2

Cost of sales                           2,620.0       (31.3)  2,588.7

Selling, general and administrative
 expense                                  900.3       (20.5)    879.8

Restructuring expense                      17.5       (17.5)        -
                                       --------- ----------- ---------

Operating income                          473.4        69.3     542.7

Interest expense                           80.1         5.3      85.4

Other (income) expense, net                63.9       (68.6)     (4.7)
                                       --------- ----------- ---------

Income from continuing operations
 before income taxes                      329.4       132.6     462.0

Income tax provision                       73.5        54.1     127.6
                                       --------- ----------- ---------

Income from continuing operations         255.9        78.5     334.4

Income (loss) from discontinued
 operations, net of tax                    16.0           -      16.0
                                       --------- ----------- ---------

Net income                               $271.9       $78.5    $350.4
                                       ========= =========== =========

  Diluted net income per common
   share:
    Income from continuing operations     $2.01       $0.61     $2.62
    Income (loss) from discontinued
     operations                            0.13           -      0.13
                                       --------- ----------- ---------
    Net income                            $2.14       $0.61     $2.75
                                       ========= =========== =========

Diluted weighted average common
 shares outstanding                       127.2                 127.2
                                       =========             =========




Additional Supplemental Information
 and Reconciliation of GAAP to Non-
 GAAP Diluted EPS
-------------------------------------
GAAP income from continuing
 operations                               $2.01
                                       ---------

      Non-recurring and special items      0.61

      Equity-based compensation
       expense                              N/A
                                       ---------

Adjustments (above)                        0.61
                                       ---------

      Sub-total                            2.62

Intangible asset amortization, net of
 tax                                       0.19
                                       ---------


Income from continuing operations,
 excluding adjustments and intangible
 asset amortization, net of tax           $2.81
                                       =========



The Laboratory Workstations business and Atos Medical Holding AB (sold
 on April 5, 2005) are reflected as discontinued operations for all
 periods presented.
*T

-0-
*T
                                                              Table 6A
                 Fisher Scientific International Inc.
                       Statement of Operations
                Supplemental Information - Adjustments
                            (in millions)
                             (unaudited)

Nine Months Ended September 30, 2006





                                Cost    SG&A   Restructuring Operating
                                  of
           Adjustments          Sales  Expense    Expense     Income
   ---------------------------- ------ ------- ------------- ---------
(1)Acquisition and integration
 costs                          $(2.6) $(24.7)           $-     $27.3
(2)Restructuring expense            -       -          (5.3)      5.3
(3)Asset impairment                 -       -             -         -
(4)Gain on sale of investments      -       -             -         -
(5)Equity-based compensation
 expense                         (0.3)  (38.6)            -      38.9
                                ------ ------- ------------- ---------
                                $(2.9) $(63.3)        $(5.3)    $71.5
                                ====== ======= ============= =========


                                        Income
                                          From
                                       Continuing             Income
                               Other   Operations  Income      From
                     Interest (Income)   Before      Tax    Continuing
      Adjustments    Expense  Expense   Income    Provision Operations
                                          Taxes
   ----------------- -------- -------- ---------- --------- ----------
(1)Acquisition and
 integration costs        $-    $(0.4)     $27.7     $10.4      $17.3
(2)Restructuring
 expense                   -        -        5.3       2.0        3.3
(3)Asset impairment        -     (2.0)       2.0       0.7        1.3
(4)Gain on sale of
 investments               -     12.7      (12.7)     (4.7)      (8.0)
(5)Equity-based
 compensation
 expense                   -        -       38.9      13.8       25.1
                     -------- -------- ---------- --------- ----------
                          $-    $10.3      $61.2     $22.2      $39.0
                     ======== ======== ========== ========= ==========
*T

-0-
*T
Nine Months Ended September 30, 2005





                               Cost of  SG&A   Restructuring Operating
           Adjustments          Sales  Expense    Expense     Income
   --------------------------- ------- ------- ------------- ---------
(1)Acquisition and integration
 costs                         $(27.8) $(15.9)           $-     $43.7
(2)Restructuring expense            -       -         (17.5)     17.5
(3)Asset impairment              (3.5)   (4.6)            -       8.1
(4)Gain on sale of investments      -       -             -         -
(6)Debt refinancing costs           -       -             -         -
(7)Interest rate swaps              -       -             -         -
(8)Income taxes                     -       -             -         -
                               ------- ------- ------------- ---------
                               $(31.3) $(20.5)       $(17.5)    $69.3
                               ======= ======= ============= =========




                                        Income
                                          From
                                       Continuing             Income
                               Other   Operations  Income      From
                     Interest (Income)   Before      Tax    Continuing
     Adjustments     Expense  Expense   Income    Provision Operations
                                          Taxes
  ------------------ -------- -------- ---------- --------- ----------
(1)Acquisition and
 integration costs        $-     $0.5      $43.2     $15.2      $28.0
(2)Restructuring
 expense                   -        -       17.5       6.2       11.3
(3)Asset impairment        -        -        8.1       2.9        5.2
(4)Gain on sale of
 investments               -      1.4       (1.4)     (0.5)      (0.9)
(6)Debt refinancing
 costs                     -    (70.5)      70.5      25.4       45.1
(7)Interest rate
 swaps                   5.3        -       (5.3)     (1.9)      (3.4)
(8)Income taxes            -        -          -       6.8       (6.8)
                     -------- -------- ---------- --------- ----------
                        $5.3   $(68.6)    $132.6     $54.1      $78.5
                     ======== ======== ========== ========= ==========





(1)Represents planned inventory step-up amortization related to
 acquisitions ($2.3 and $20.7 before tax in 2006 and 2005,
 respectively), transaction costs related to the previously announced
 Thermo / Fisher merger ($21.3 and $0.0 before tax in 2006 and 2005,
 respectively), integration and other costs ($4.1 and $23.0 before tax
 in 2006 and 2005, respectively) and other non-recurring income ($0.0
 and $0.5 before tax in 2006 and 2005, respectively).

(2)Represents restructuring expenses, including employee termination
 and other exit costs associated with various consolidation projects.

(3)Represents non-cash write-off of non-operating investment in 2006
 and write-off of long-lived assets associated with the closure/exit
 of certain facilities and integration of business units in 2005.

(4)Represents gain attributable to the sale of non-operating
 investments.

(5)Represents non-cash stock compensation expense attributable to the
 adoption of SFAS 123R.

(6)Represents refinancing costs primarily incurred in connection with
 the cash tender offer and redemption of the 8% senior subordinated
 notes and open market purchases of the 8 1/8% senior subordinated
 notes.

(7)Represents gain recognized on termination of interest rate swaps.

(8)Represents a credit related to finalizing certain domestic and
 foreign tax audits and negotiations.
*T