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ý
|
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
¨
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
Massachusetts
|
|
04-2052042
|
(State or other jurisdiction of
incorporation or organization)
|
|
(I.R.S. Employer
Identification No.)
|
Large accelerated filer
|
|
ý
|
Accelerated filer
|
|
¨
|
|
|
|
|
||
Non-accelerated filer
|
|
¨
(Do not check if a smaller reporting company)
|
Smaller reporting company
|
|
¨
|
|
|
Page
|
PART I. FINANCIAL INFORMATION
|
||
|
|
|
Item 1.
|
||
|
||
|
||
|
||
|
||
|
||
|
|
|
Item 2.
|
||
|
||
|
||
|
||
|
||
|
||
|
||
|
||
|
||
|
|
|
Item 3.
|
||
|
|
|
Item 4.
|
||
|
|
|
PART II. OTHER INFORMATION
|
|
|
|
|
|
Item 1.
|
||
|
|
|
Item 1A.
|
||
|
|
|
Item 2.
|
||
|
|
|
Item 6.
|
||
|
|
|
|
|
|
Item 1.
|
Financial Statements
|
|
Three Months Ended
|
|
Six Months Ended
|
||||||||||||
|
July 1,
2012 |
|
July 3,
2011 |
|
July 1,
2012 |
|
July 3,
2011 |
||||||||
|
|
|
(As adjusted)
|
|
|
|
(As adjusted)
|
||||||||
|
(In thousands, except
per share data)
|
||||||||||||||
Product revenue
|
$
|
364,243
|
|
|
$
|
326,419
|
|
|
$
|
721,436
|
|
|
$
|
632,545
|
|
Service revenue
|
157,547
|
|
|
152,646
|
|
|
311,244
|
|
|
293,698
|
|
||||
Total revenue
|
521,790
|
|
|
479,065
|
|
|
1,032,680
|
|
|
926,243
|
|
||||
Cost of product revenue
|
186,442
|
|
|
176,080
|
|
|
372,899
|
|
|
333,331
|
|
||||
Cost of service revenue
|
96,554
|
|
|
93,791
|
|
|
188,973
|
|
|
183,407
|
|
||||
Total cost of revenue
|
282,996
|
|
|
269,871
|
|
|
561,872
|
|
|
516,738
|
|
||||
Selling, general and administrative expenses
|
149,735
|
|
|
138,403
|
|
|
306,584
|
|
|
271,098
|
|
||||
Research and development expenses
|
34,069
|
|
|
28,032
|
|
|
66,693
|
|
|
54,217
|
|
||||
Restructuring and contract termination charges, net
|
5,203
|
|
|
3,340
|
|
|
11,362
|
|
|
3,340
|
|
||||
Operating income from continuing operations
|
49,787
|
|
|
39,419
|
|
|
86,169
|
|
|
80,850
|
|
||||
Interest and other expense, net
|
11,358
|
|
|
4,271
|
|
|
24,188
|
|
|
10,027
|
|
||||
Income from continuing operations before income taxes
|
38,429
|
|
|
35,148
|
|
|
61,981
|
|
|
70,823
|
|
||||
Provision for income taxes
|
4,861
|
|
|
6,047
|
|
|
6,337
|
|
|
14,431
|
|
||||
Net income from continuing operations
|
33,568
|
|
|
29,101
|
|
|
55,644
|
|
|
56,392
|
|
||||
Gain (loss) on disposition of discontinued operations before income taxes
|
482
|
|
|
(157
|
)
|
|
1,017
|
|
|
(1,741
|
)
|
||||
Provision for (benefit from) income taxes on disposition of discontinued operations
|
417
|
|
|
(817
|
)
|
|
459
|
|
|
(23
|
)
|
||||
Net income (loss) from discontinued operations and dispositions
|
65
|
|
|
660
|
|
|
558
|
|
|
(1,718
|
)
|
||||
Net income
|
$
|
33,633
|
|
|
$
|
29,761
|
|
|
$
|
56,202
|
|
|
$
|
54,674
|
|
Basic earnings (loss) per share:
|
|
|
|
|
|
|
|
||||||||
Net income from continuing operations
|
$
|
0.30
|
|
|
$
|
0.26
|
|
|
$
|
0.49
|
|
|
$
|
0.50
|
|
Net income (loss) from discontinued operations and dispositions
|
—
|
|
|
0.01
|
|
|
—
|
|
|
(0.02
|
)
|
||||
Net income
|
$
|
0.30
|
|
|
$
|
0.26
|
|
|
$
|
0.50
|
|
|
$
|
0.48
|
|
Diluted earnings (loss) per share:
|
|
|
|
|
|
|
|
||||||||
Net income from continuing operations
|
$
|
0.29
|
|
|
$
|
0.26
|
|
|
$
|
0.49
|
|
|
$
|
0.49
|
|
Net income (loss) from discontinued operations and dispositions
|
—
|
|
|
0.01
|
|
|
—
|
|
|
(0.02
|
)
|
||||
Net income
|
$
|
0.29
|
|
|
$
|
0.26
|
|
|
$
|
0.49
|
|
|
$
|
0.48
|
|
Weighted average shares of common stock outstanding:
|
|
|
|
|
|
|
|
||||||||
Basic
|
113,515
|
|
|
112,494
|
|
|
113,306
|
|
|
113,246
|
|
||||
Diluted
|
114,578
|
|
|
113,623
|
|
|
114,348
|
|
|
114,381
|
|
||||
Cash dividends per common share
|
$
|
0.07
|
|
|
$
|
0.07
|
|
|
$
|
0.14
|
|
|
$
|
0.14
|
|
|
Three Months Ended
|
|
Six Months Ended
|
||||||||||||
|
July 1,
2012 |
|
July 3,
2011 |
|
July 1,
2012 |
|
July 3,
2011 |
||||||||
|
|
|
(As adjusted)
|
|
|
|
(As adjusted)
|
||||||||
|
(In thousands)
|
||||||||||||||
Net income
|
$
|
33,633
|
|
|
$
|
29,761
|
|
|
$
|
56,202
|
|
|
$
|
54,674
|
|
Other comprehensive (loss) income
|
|
|
|
|
|
|
|
||||||||
Foreign currency translation adjustments, net of tax
|
(30,344
|
)
|
|
16,320
|
|
|
(16,578
|
)
|
|
63,611
|
|
||||
Reclassification adjustments for losses on derivatives included in net income, net of tax
|
299
|
|
|
299
|
|
|
598
|
|
|
598
|
|
||||
Unrealized (losses) gains on securities, net of tax
|
(13
|
)
|
|
(32
|
)
|
|
22
|
|
|
18
|
|
||||
Other comprehensive (loss) income
|
(30,058
|
)
|
|
16,587
|
|
|
(15,958
|
)
|
|
64,227
|
|
||||
Comprehensive income
|
$
|
3,575
|
|
|
$
|
46,348
|
|
|
$
|
40,244
|
|
|
$
|
118,901
|
|
|
July 1,
2012 |
|
January 1,
2012 |
||||
|
(In thousands, except share data)
|
||||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
$
|
171,403
|
|
|
$
|
142,342
|
|
Accounts receivable, net
|
389,466
|
|
|
409,888
|
|
||
Inventories, net
|
244,436
|
|
|
240,763
|
|
||
Other current assets
|
92,293
|
|
|
69,023
|
|
||
Current assets of discontinued operations
|
202
|
|
|
202
|
|
||
Total current assets
|
897,800
|
|
|
862,218
|
|
||
Property, plant and equipment, net:
|
|
|
|
||||
At cost
|
456,830
|
|
|
451,953
|
|
||
Accumulated depreciation
|
(289,653
|
)
|
|
(277,386
|
)
|
||
Property, plant and equipment, net
|
167,177
|
|
|
174,567
|
|
||
Marketable securities and investments
|
1,102
|
|
|
1,105
|
|
||
Intangible assets, net
|
613,009
|
|
|
661,607
|
|
||
Goodwill
|
2,080,031
|
|
|
2,093,626
|
|
||
Other assets, net
|
41,818
|
|
|
41,075
|
|
||
Total assets
|
$
|
3,800,937
|
|
|
$
|
3,834,198
|
|
Current liabilities:
|
|
|
|
||||
Accounts payable
|
$
|
174,028
|
|
|
$
|
173,153
|
|
Accrued restructuring costs
|
15,189
|
|
|
13,958
|
|
||
Accrued expenses
|
397,353
|
|
|
411,526
|
|
||
Current liabilities of discontinued operations
|
1,115
|
|
|
1,429
|
|
||
Total current liabilities
|
587,685
|
|
|
600,066
|
|
||
Long-term debt
|
911,043
|
|
|
944,908
|
|
||
Long-term liabilities
|
416,879
|
|
|
447,008
|
|
||
Total liabilities
|
1,915,607
|
|
|
1,991,982
|
|
||
Commitments and contingencies (see Note 18)
|
|
|
|
||||
Stockholders’ equity:
|
|
|
|
||||
Preferred stock—$1 par value per share, authorized 1,000,000 shares; none issued or outstanding
|
—
|
|
|
—
|
|
||
Common stock—$1 par value per share, authorized 300,000,000 shares; issued and outstanding 114,060,000 shares and 113,157,000 shares at July 1, 2012 and at January 1, 2012, respectively
|
114,060
|
|
|
113,157
|
|
||
Capital in excess of par value
|
182,321
|
|
|
164,290
|
|
||
Retained earnings
|
1,550,821
|
|
|
1,510,683
|
|
||
Accumulated other comprehensive income
|
38,128
|
|
|
54,086
|
|
||
Total stockholders’ equity
|
1,885,330
|
|
|
1,842,216
|
|
||
Total liabilities and stockholders’ equity
|
$
|
3,800,937
|
|
|
$
|
3,834,198
|
|
|
Six Months Ended
|
||||||
|
July 1,
2012 |
|
July 3,
2011 |
||||
|
|
|
(As adjusted)
|
||||
|
(In thousands)
|
||||||
Operating activities:
|
|
|
|
||||
Net income
|
$
|
56,202
|
|
|
$
|
54,674
|
|
Add: net (income) loss from discontinued operations and dispositions, net of income taxes
|
(558
|
)
|
|
1,718
|
|
||
Net income from continuing operations
|
55,644
|
|
|
56,392
|
|
||
Adjustments to reconcile net income from continuing operations to net cash provided by continuing operations:
|
|
|
|
||||
Restructuring and contract termination charges, net
|
11,362
|
|
|
3,340
|
|
||
Depreciation and amortization
|
64,163
|
|
|
50,601
|
|
||
Stock-based compensation
|
10,252
|
|
|
7,960
|
|
||
Amortization of deferred debt issuance costs
|
1,745
|
|
|
1,270
|
|
||
Amortization of acquired inventory revaluation
|
4,774
|
|
|
378
|
|
||
Changes in operating assets and liabilities which provided (used) cash, excluding effects from companies purchased and divested:
|
|
|
|
||||
Accounts receivable, net
|
13,473
|
|
|
3,904
|
|
||
Inventories, net
|
(12,652
|
)
|
|
(3,566
|
)
|
||
Accounts payable
|
1,645
|
|
|
(19,838
|
)
|
||
Excess tax benefit from exercise of equity grants
|
(1,139
|
)
|
|
(8,591
|
)
|
||
Accrued expenses and other
|
(56,594
|
)
|
|
10,332
|
|
||
Net cash provided by operating activities of continuing operations
|
92,673
|
|
|
102,182
|
|
||
Net cash used in operating activities of discontinued operations
|
(744
|
)
|
|
(7,631
|
)
|
||
Net cash provided by operating activities
|
91,929
|
|
|
94,551
|
|
||
Investing activities:
|
|
|
|
||||
Capital expenditures
|
(11,449
|
)
|
|
(15,970
|
)
|
||
Changes in restricted cash balances
|
200
|
|
|
420
|
|
||
Payments for acquisitions and investments, net of cash and cash equivalents acquired
|
—
|
|
|
(310,351
|
)
|
||
Net cash used in investing activities of continuing operations
|
(11,249
|
)
|
|
(325,901
|
)
|
||
Net cash provided by investing activities of discontinued operations
|
988
|
|
|
28,252
|
|
||
Net cash used in investing activities
|
(10,261
|
)
|
|
(297,649
|
)
|
||
Financing activities:
|
|
|
|
||||
Payments on debt
|
(244,000
|
)
|
|
(247,000
|
)
|
||
Proceeds from borrowings
|
210,000
|
|
|
494,000
|
|
||
Payments of debt issuance costs
|
(416
|
)
|
|
—
|
|
||
Payments on other credit facilities
|
—
|
|
|
(2,303
|
)
|
||
Payments for acquisition-related contingent consideration
|
(9,343
|
)
|
|
(137
|
)
|
||
Excess tax benefit from exercise of equity grants
|
1,139
|
|
|
8,591
|
|
||
Proceeds from stock options exercised
|
11,746
|
|
|
23,552
|
|
||
Purchases of common stock
|
(2,063
|
)
|
|
(109,997
|
)
|
||
Dividends paid
|
(15,891
|
)
|
|
(15,997
|
)
|
||
Net cash (used in) provided by financing activities of continuing operations
|
(48,828
|
)
|
|
150,709
|
|
||
Net cash used in financing activities of discontinued operations
|
—
|
|
|
(1,908
|
)
|
||
Net cash (used in) provided by financing activities
|
(48,828
|
)
|
|
148,801
|
|
||
Effect of exchange rate changes on cash and cash equivalents
|
(3,779
|
)
|
|
29,419
|
|
||
Net increase (decrease) in cash and cash equivalents
|
29,061
|
|
|
(24,878
|
)
|
||
Cash and cash equivalents at beginning of period
|
142,342
|
|
|
420,086
|
|
||
Cash and cash equivalents at end of period
|
$
|
171,403
|
|
|
$
|
395,208
|
|
|
Caliper
(Preliminary)
|
||
|
(In thousands)
|
||
Fair value of business combination:
|
|
||
Cash payments
|
$
|
646,317
|
|
Less: cash acquired
|
(43,576
|
)
|
|
Total
|
$
|
602,741
|
|
Identifiable assets acquired and liabilities assumed:
|
|
||
Current assets
|
$
|
55,756
|
|
Property, plant and equipment
|
14,580
|
|
|
Identifiable intangible assets:
|
|
||
Core technology
|
52,000
|
|
|
Trade names
|
14,200
|
|
|
Licenses
|
18,000
|
|
|
Customer relationships
|
93,000
|
|
|
Goodwill
|
352,494
|
|
|
Deferred taxes
|
54,068
|
|
|
Deferred revenue
|
(7,825
|
)
|
|
Liabilities assumed
|
(43,532
|
)
|
|
Total
|
$
|
602,741
|
|
|
Three Months Ended
|
|
Six Months Ended
|
||||
|
July 3,
2011 |
|
July 3,
2011 |
||||
|
(In thousands)
|
||||||
Pro Forma Statement of Operations Information (Unaudited):
|
|
|
|
||||
Revenue
|
$
|
517,102
|
|
|
$
|
999,761
|
|
Net income from continuing operations
|
17,686
|
|
|
33,543
|
|
||
Basic earnings per share:
|
|
|
|
||||
Continuing operations
|
$
|
0.16
|
|
|
$
|
0.30
|
|
Diluted earnings per share:
|
|
|
|
||||
Continuing operations
|
$
|
0.16
|
|
|
$
|
0.29
|
|
|
Three Months Ended
|
|
Six Months Ended
|
||||||||||||
|
July 1,
2012 |
|
July 3,
2011 |
|
July 1,
2012 |
|
July 3,
2011 |
||||||||
|
(In thousands)
|
||||||||||||||
(Loss) gain on disposition of Illumination and Detection Solutions business
|
$
|
—
|
|
|
$
|
(111
|
)
|
|
$
|
16
|
|
|
$
|
(1,696
|
)
|
Gain (loss) on disposition of Photoflash business
|
485
|
|
|
(13
|
)
|
|
992
|
|
|
(9
|
)
|
||||
(Loss) gain on disposition of other discontinued operations
|
(3
|
)
|
|
(33
|
)
|
|
9
|
|
|
(36
|
)
|
||||
Gain (loss) on disposition of discontinued operations before income taxes
|
$
|
482
|
|
|
$
|
(157
|
)
|
|
$
|
1,017
|
|
|
$
|
(1,741
|
)
|
|
Severance
|
||
|
(In thousands)
|
||
Provision
|
$
|
4,218
|
|
Amounts paid and foreign currency translation
|
(714
|
)
|
|
Balance at July 1, 2012
|
$
|
3,504
|
|
|
Severance
|
|
Closure of
Excess Facility
Space
|
|
Total
|
||||||
|
(In thousands)
|
||||||||||
Provision
|
$
|
6,125
|
|
|
$
|
79
|
|
|
$
|
6,204
|
|
Amounts paid and foreign currency translation
|
(3,236
|
)
|
|
(79
|
)
|
|
(3,315
|
)
|
|||
Balance at July 1, 2012
|
$
|
2,889
|
|
|
$
|
—
|
|
|
$
|
2,889
|
|
|
Severance
|
|
Closure of
Excess Facility
Space
|
|
Total
|
||||||
|
(In thousands)
|
||||||||||
Balance at January 1, 2012
|
$
|
4,674
|
|
|
$
|
370
|
|
|
$
|
5,044
|
|
Change in estimates
|
—
|
|
|
(135
|
)
|
|
(135
|
)
|
|||
Amounts paid and foreign currency translation
|
(3,233
|
)
|
|
(60
|
)
|
|
(3,293
|
)
|
|||
Balance at July 1, 2012
|
$
|
1,441
|
|
|
$
|
175
|
|
|
$
|
1,616
|
|
|
Severance
|
|
Closure of
Excess Facility
Space
|
|
Total
|
||||||
|
(In thousands)
|
||||||||||
Balance at January 1, 2012
|
$
|
1,283
|
|
|
$
|
—
|
|
|
$
|
1,283
|
|
Amounts paid and foreign currency translation
|
(454
|
)
|
|
—
|
|
|
(454
|
)
|
|||
Balance at July 1, 2012
|
$
|
829
|
|
|
$
|
—
|
|
|
$
|
829
|
|
|
Three Months Ended
|
|
Six Months Ended
|
||||||||||||
|
July 1,
2012 |
|
July 3,
2011 |
|
July 1,
2012 |
|
July 3,
2011 |
||||||||
|
(In thousands)
|
||||||||||||||
Interest income
|
$
|
(150
|
)
|
|
$
|
(483
|
)
|
|
$
|
(360
|
)
|
|
$
|
(805
|
)
|
Interest expense
|
11,339
|
|
|
4,213
|
|
|
22,776
|
|
|
8,129
|
|
||||
Other expense, net
|
169
|
|
|
541
|
|
|
1,772
|
|
|
2,703
|
|
||||
Total interest and other expense, net
|
$
|
11,358
|
|
|
$
|
4,271
|
|
|
$
|
24,188
|
|
|
$
|
10,027
|
|
|
July 1,
2012 |
|
January 1,
2012 |
||||
|
(In thousands)
|
||||||
Raw materials
|
$
|
76,954
|
|
|
$
|
72,913
|
|
Work in progress
|
12,522
|
|
|
14,656
|
|
||
Finished goods
|
154,960
|
|
|
153,194
|
|
||
Total inventories, net
|
$
|
244,436
|
|
|
$
|
240,763
|
|
|
Three Months Ended
|
|
Six Months Ended
|
||||||||
|
July 1,
2012 |
|
July 3,
2011 |
|
July 1,
2012 |
|
July 3,
2011 |
||||
|
(In thousands)
|
||||||||||
Number of common shares—basic
|
113,515
|
|
|
112,494
|
|
|
113,306
|
|
|
113,246
|
|
Effect of dilutive securities:
|
|
|
|
|
|
|
|
||||
Stock options
|
824
|
|
|
995
|
|
|
825
|
|
|
1,007
|
|
Restricted stock awards
|
239
|
|
|
134
|
|
|
217
|
|
|
128
|
|
Number of common shares—diluted
|
114,578
|
|
|
113,623
|
|
|
114,348
|
|
|
114,381
|
|
Number of potentially dilutive securities excluded from calculation due to antidilutive impact
|
1,457
|
|
|
714
|
|
|
1,482
|
|
|
1,318
|
|
•
|
Human Health
. Develops diagnostics, tools and applications to help detect diseases earlier and more accurately and to accelerate the discovery and development of critical new therapies. The Human Health segment serves both the diagnostics and research markets.
|
•
|
Environmental Health
. Provides technologies and applications to facilitate the creation of safer food and consumer products, more secure surroundings and efficient energy resources. The Environmental Health segment serves the environmental, industrial and laboratory services markets.
|
|
Three Months Ended
|
|
Six Months Ended
|
||||||||||||
|
July 1,
2012 |
|
July 3,
2011 |
|
July 1,
2012 |
|
July 3,
2011 |
||||||||
|
(In thousands)
|
||||||||||||||
Human Health
|
|
|
|
|
|
|
|
||||||||
Product revenue
|
$
|
219,721
|
|
|
$
|
185,480
|
|
|
$
|
435,550
|
|
|
$
|
354,226
|
|
Service revenue
|
38,701
|
|
|
33,337
|
|
|
76,833
|
|
|
65,912
|
|
||||
Total revenue
|
258,422
|
|
|
218,817
|
|
|
512,383
|
|
|
420,138
|
|
||||
Operating income from continuing operations
|
31,538
|
|
|
28,446
|
|
|
53,483
|
|
|
49,983
|
|
||||
Environmental Health
|
|
|
|
|
|
|
|
||||||||
Product revenue
|
144,522
|
|
|
140,939
|
|
|
285,886
|
|
|
278,319
|
|
||||
Service revenue
|
118,846
|
|
|
119,309
|
|
|
234,411
|
|
|
227,786
|
|
||||
Total revenue
|
263,368
|
|
|
260,248
|
|
|
520,297
|
|
|
506,105
|
|
||||
Operating income from continuing operations
|
28,159
|
|
|
21,748
|
|
|
54,554
|
|
|
51,990
|
|
||||
Corporate
|
|
|
|
|
|
|
|
||||||||
Operating loss from continuing operations
(1)
|
(9,910
|
)
|
|
(10,775
|
)
|
|
(21,868
|
)
|
|
(21,123
|
)
|
||||
Continuing Operations
|
|
|
|
|
|
|
|
||||||||
Product revenue
|
$
|
364,243
|
|
|
$
|
326,419
|
|
|
$
|
721,436
|
|
|
$
|
632,545
|
|
Service revenue
|
157,547
|
|
|
152,646
|
|
|
311,244
|
|
|
293,698
|
|
||||
Total revenue
|
521,790
|
|
|
479,065
|
|
|
1,032,680
|
|
|
926,243
|
|
||||
Operating income from continuing operations
|
49,787
|
|
|
39,419
|
|
|
86,169
|
|
|
80,850
|
|
||||
Interest and other expense, net (see Note 5)
|
11,358
|
|
|
4,271
|
|
|
24,188
|
|
|
10,027
|
|
||||
Income from continuing operations before income taxes
|
$
|
38,429
|
|
|
$
|
35,148
|
|
|
$
|
61,981
|
|
|
$
|
70,823
|
|
(1)
|
The expenses related to mark-to-market and curtailments on postretirement benefit plans have been included in the Corporate operating loss from continuing operations, and together constituted a pre-tax loss of
$1.2 million
and a pre-tax gain of
$0.2 million
for the
six
months ended
July 1, 2012
and
July 3, 2011
, respectively.
|
|
July 1,
2012 |
|
January 1,
2012 |
||||
|
(In thousands)
|
||||||
Foreign currency translation adjustments, net of income taxes
|
$
|
39,586
|
|
|
$
|
56,164
|
|
Unrecognized prior service costs, net of income taxes
|
2,169
|
|
|
2,169
|
|
||
Unrealized and realized losses on derivatives, net of income taxes
|
(3,490
|
)
|
|
(4,088
|
)
|
||
Unrealized net losses on securities, net of income taxes
|
(137
|
)
|
|
(159
|
)
|
||
Accumulated other comprehensive income
|
$
|
38,128
|
|
|
$
|
54,086
|
|
|
Three Months Ended
|
|
Six Months Ended
|
||||||||||||
|
July 1,
2012 |
|
July 3,
2011 |
|
July 1,
2012 |
|
July 3,
2011 |
||||||||
|
(In thousands)
|
||||||||||||||
Cost of revenue
|
$
|
304
|
|
|
$
|
246
|
|
|
$
|
580
|
|
|
$
|
506
|
|
Research and development expenses
|
185
|
|
|
149
|
|
|
361
|
|
|
295
|
|
||||
Selling, general and administrative expenses
|
4,287
|
|
|
4,511
|
|
|
9,311
|
|
|
7,159
|
|
||||
Total stock-based compensation expense
|
$
|
4,776
|
|
|
$
|
4,906
|
|
|
$
|
10,252
|
|
|
$
|
7,960
|
|
|
Three and Six Months Ended
|
||||
|
July 1,
2012 |
|
July 3,
2011 |
||
Risk-free interest rate
|
0.6
|
%
|
|
1.9
|
%
|
Expected dividend yield
|
1.2
|
%
|
|
1.1
|
%
|
Expected lives
|
4 years
|
|
|
4 years
|
|
Expected stock volatility
|
38.7
|
%
|
|
38.1
|
%
|
|
Number
of
Shares
|
|
Weighted-
Average
Price
|
|
Weighted-Average
Remaining
Contractual Term
|
|
Total
Intrinsic
Value
|
||||||
|
(In thousands)
|
|
|
|
(In years)
|
|
(In millions)
|
||||||
Outstanding at January 1, 2012
|
5,346
|
|
|
$
|
20.57
|
|
|
|
|
|
|||
Granted
|
740
|
|
|
26.25
|
|
|
|
|
|
||||
Exercised
|
(637
|
)
|
|
18.44
|
|
|
|
|
|
||||
Canceled
|
(206
|
)
|
|
22.26
|
|
|
|
|
|
||||
Forfeited
|
(5
|
)
|
|
14.76
|
|
|
|
|
|
||||
Outstanding at July 1, 2012
|
5,238
|
|
|
$
|
21.57
|
|
|
3.8
|
|
|
$
|
25.8
|
|
Exercisable at July 1, 2012
|
3,633
|
|
|
$
|
20.34
|
|
|
2.8
|
|
|
$
|
22.3
|
|
Vested and expected to vest in the future
|
4,783
|
|
|
$
|
21.57
|
|
|
3.8
|
|
|
$
|
23.5
|
|
|
Number of
Shares
|
|
Weighted-
Average
Grant-
Date Fair
Value
|
|||
|
(In thousands)
|
|
|
|||
Nonvested at January 1, 2012
|
672
|
|
|
$
|
23.62
|
|
Granted
|
351
|
|
|
25.83
|
|
|
Vested
|
(179
|
)
|
|
23.27
|
|
|
Forfeited
|
(19
|
)
|
|
25.26
|
|
|
Nonvested at July 1, 2012
|
825
|
|
|
$
|
24.60
|
|
|
Human
Health
|
|
Environmental
Health
|
|
Consolidated
|
||||||
|
(In thousands)
|
||||||||||
Balance at January 1, 2012
|
$
|
1,390,571
|
|
|
$
|
703,055
|
|
|
$
|
2,093,626
|
|
Foreign currency translation
|
(9,028
|
)
|
|
(4,567
|
)
|
|
(13,595
|
)
|
|||
Balance at July 1, 2012
|
$
|
1,381,543
|
|
|
$
|
698,488
|
|
|
$
|
2,080,031
|
|
|
July 1,
2012 |
|
January 1,
2012 |
||||
|
(In thousands)
|
||||||
Patents
|
$
|
107,571
|
|
|
$
|
107,437
|
|
Less: Accumulated amortization
|
(87,852
|
)
|
|
(85,188
|
)
|
||
Net patents
|
19,719
|
|
|
22,249
|
|
||
Trade names and trademarks
|
34,034
|
|
|
35,214
|
|
||
Less: Accumulated amortization
|
(12,075
|
)
|
|
(11,086
|
)
|
||
Net trade names and trademarks
|
21,959
|
|
|
24,128
|
|
||
Licenses
|
79,573
|
|
|
79,873
|
|
||
Less: Accumulated amortization
|
(42,211
|
)
|
|
(37,339
|
)
|
||
Net licenses
|
37,362
|
|
|
42,534
|
|
||
Core technology
|
385,338
|
|
|
385,112
|
|
||
Less: Accumulated amortization
|
(229,912
|
)
|
|
(212,834
|
)
|
||
Net core technology
|
155,426
|
|
|
172,278
|
|
||
Customer relationships
|
314,711
|
|
|
316,782
|
|
||
Less: Accumulated amortization
|
(89,078
|
)
|
|
(69,710
|
)
|
||
Net customer relationships
|
225,633
|
|
|
247,072
|
|
||
IPR&D
|
7,026
|
|
|
7,131
|
|
||
Less: Accumulated amortization
|
(1,150
|
)
|
|
(819
|
)
|
||
Net IPR&D
|
5,876
|
|
|
6,312
|
|
||
Net amortizable intangible assets
|
465,975
|
|
|
514,573
|
|
||
Non-amortizing intangible assets:
|
|
|
|
||||
Trade names and trademarks
|
147,034
|
|
|
147,034
|
|
||
Totals
|
$
|
613,009
|
|
|
$
|
661,607
|
|
|
Three Months Ended
|
|
Six Months Ended
|
||||||||||||
|
July 1,
2012 |
|
July 3,
2011 |
|
July 1,
2012 |
|
July 3,
2011 |
||||||||
|
(In thousands)
|
||||||||||||||
Balance beginning of period
|
$
|
10,749
|
|
|
$
|
8,271
|
|
|
$
|
10,412
|
|
|
$
|
8,250
|
|
Provision charged to income
|
4,271
|
|
|
3,731
|
|
|
8,897
|
|
|
7,059
|
|
||||
Payments
|
(4,193
|
)
|
|
(3,735
|
)
|
|
(9,040
|
)
|
|
(7,162
|
)
|
||||
Adjustments to previously provided warranties, net
|
30
|
|
|
682
|
|
|
487
|
|
|
557
|
|
||||
Foreign currency translation and acquisitions
|
(232
|
)
|
|
108
|
|
|
(131
|
)
|
|
353
|
|
||||
Balance end of period
|
$
|
10,625
|
|
|
$
|
9,057
|
|
|
$
|
10,625
|
|
|
$
|
9,057
|
|
|
Defined Benefit
Pension Benefits
|
|
Postretirement
Medical Benefits
|
||||||||||||
|
Three Months Ended
|
||||||||||||||
|
July 1,
2012 |
|
July 3,
2011 |
|
July 1,
2012 |
|
July 3,
2011 |
||||||||
|
(In thousands)
|
||||||||||||||
Service cost
|
$
|
977
|
|
|
$
|
972
|
|
|
$
|
28
|
|
|
$
|
21
|
|
Interest cost
|
5,792
|
|
|
6,321
|
|
|
37
|
|
|
41
|
|
||||
Expected return on plan assets
|
(5,140
|
)
|
|
(5,649
|
)
|
|
(219
|
)
|
|
(221
|
)
|
||||
Amortization of prior service costs
|
(60
|
)
|
|
(56
|
)
|
|
—
|
|
|
(63
|
)
|
||||
Net periodic benefit cost (credit)
|
$
|
1,569
|
|
|
$
|
1,588
|
|
|
$
|
(154
|
)
|
|
$
|
(222
|
)
|
|
|
|
|
|
|
|
|
||||||||
|
Defined Benefit
Pension Benefits
|
|
Postretirement
Medical Benefits
|
||||||||||||
|
Six Months Ended
|
||||||||||||||
|
July 1,
2012 |
|
July 3,
2011 |
|
July 1,
2012 |
|
July 3,
2011 |
||||||||
|
(In thousands)
|
||||||||||||||
Service cost
|
$
|
1,957
|
|
|
$
|
1,944
|
|
|
$
|
56
|
|
|
$
|
43
|
|
Interest cost
|
11,607
|
|
|
12,639
|
|
|
74
|
|
|
81
|
|
||||
Expected return on plan assets
|
(10,282
|
)
|
|
(11,297
|
)
|
|
(438
|
)
|
|
(442
|
)
|
||||
Amortization of prior service
|
(120
|
)
|
|
(112
|
)
|
|
—
|
|
|
(126
|
)
|
||||
Net periodic benefit cost (credit)
|
$
|
3,162
|
|
|
$
|
3,174
|
|
|
$
|
(308
|
)
|
|
$
|
(444
|
)
|
|
Fair Value Measurements at July 1, 2012 Using:
|
||||||||||||||
|
Total Carrying
Value at July 1, 2012 |
|
Quoted Prices in
Active Markets
(Level 1)
|
|
Significant Other
Observable Inputs
(Level 2)
|
|
Significant
Unobservable
Inputs
(Level 3)
|
||||||||
|
(In thousands)
|
||||||||||||||
Marketable securities
|
$
|
1,102
|
|
|
$
|
1,102
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Foreign exchange derivative assets, net
|
4,050
|
|
|
—
|
|
|
4,050
|
|
|
—
|
|
||||
Foreign exchange derivative liabilities, net
|
(41
|
)
|
|
—
|
|
|
(41
|
)
|
|
—
|
|
||||
Contingent consideration
|
(7,315
|
)
|
|
—
|
|
|
—
|
|
|
(7,315
|
)
|
|
Fair Value Measurements at January 1, 2012 Using:
|
||||||||||||||
|
Total Carrying
Value at January 1, 2012 |
|
Quoted Prices in
Active Markets
(Level 1)
|
|
Significant Other
Observable Inputs
(Level 2)
|
|
Significant
Unobservable
Inputs
(Level 3)
|
||||||||
|
(In thousands)
|
||||||||||||||
Marketable securities
|
$
|
1,105
|
|
|
$
|
1,105
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Foreign exchange derivative liabilities, net
|
(213
|
)
|
|
—
|
|
|
(213
|
)
|
|
—
|
|
||||
Contingent consideration
|
(20,298
|
)
|
|
—
|
|
|
—
|
|
|
(20,298
|
)
|
Marketable securities
|
Include equity and fixed-income securities measured at fair value using the quoted market prices at the reporting date.
|
Foreign exchange derivative assets and liabilities
|
Include foreign exchange derivative contracts that are valued using quoted forward foreign exchange prices at the reporting date.
|
|
Three Months Ended
|
|
Six Months Ended
|
||||||||||||
|
July 1,
2012 |
|
July 3,
2011 |
|
July 1,
2012 |
|
July 3,
2011 |
||||||||
|
(In thousands)
|
||||||||||||||
Balance beginning of period
|
$
|
(20,636
|
)
|
|
$
|
(15,645
|
)
|
|
$
|
(20,298
|
)
|
|
$
|
(1,731
|
)
|
Additions
|
—
|
|
|
(4,600
|
)
|
|
—
|
|
|
(20,131
|
)
|
||||
Amounts paid and foreign currency translation
|
13,646
|
|
|
—
|
|
|
13,646
|
|
|
1,908
|
|
||||
Change in fair value (included within selling, general and administrative expenses)
|
(325
|
)
|
|
(664
|
)
|
|
(663
|
)
|
|
(955
|
)
|
||||
Balance end of period
|
$
|
(7,315
|
)
|
|
$
|
(20,909
|
)
|
|
$
|
(7,315
|
)
|
|
$
|
(20,909
|
)
|
Item 2.
|
Management’s Discussion and Analysis of Financial Condition and Results of Operations
|
•
|
Human Health
. Develops diagnostics, tools and applications to help detect diseases earlier and more accurately and to accelerate the discovery and development of critical new therapies. The Human Health segment serves both the diagnostics and research markets.
|
•
|
Environmental Health
. Provides technologies and applications to facilitate the creation of safer food and consumer products, more secure surroundings and efficient energy resources. The Environmental Health segment serves the environmental, industrial and laboratory services markets.
|
|
Severance
|
||
|
(In thousands)
|
||
Provision
|
$
|
4,218
|
|
Amounts paid and foreign currency translation
|
(714
|
)
|
|
Balance at July 1, 2012
|
$
|
3,504
|
|
|
Severance
|
|
Closure of
Excess Facility
Space
|
|
Total
|
||||||
|
(In thousands)
|
||||||||||
Provision
|
$
|
6,125
|
|
|
$
|
79
|
|
|
$
|
6,204
|
|
Amounts paid and foreign currency translation
|
(3,236
|
)
|
|
(79
|
)
|
|
(3,315
|
)
|
|||
Balance at July 1, 2012
|
$
|
2,889
|
|
|
$
|
—
|
|
|
$
|
2,889
|
|
|
Severance
|
|
Closure of
Excess Facility
Space
|
|
Total
|
||||||
|
(In thousands)
|
||||||||||
Balance at January 1, 2012
|
$
|
4,674
|
|
|
$
|
370
|
|
|
$
|
5,044
|
|
Change in estimates
|
—
|
|
|
(135
|
)
|
|
(135
|
)
|
|||
Amounts paid and foreign currency translation
|
(3,233
|
)
|
|
(60
|
)
|
|
(3,293
|
)
|
|||
Balance at July 1, 2012
|
$
|
1,441
|
|
|
$
|
175
|
|
|
$
|
1,616
|
|
|
Severance
|
|
Closure of
Excess Facility
Space
|
|
Total
|
||||||
|
(In thousands)
|
||||||||||
Balance at January 1, 2012
|
$
|
1,283
|
|
|
$
|
—
|
|
|
$
|
1,283
|
|
Amounts paid and foreign currency translation
|
(454
|
)
|
|
—
|
|
|
(454
|
)
|
|||
Balance at July 1, 2012
|
$
|
829
|
|
|
$
|
—
|
|
|
$
|
829
|
|
|
Three Months Ended
|
|
Six Months Ended
|
||||||||||||
|
July 1,
2012 |
|
July 3,
2011 |
|
July 1,
2012 |
|
July 3,
2011 |
||||||||
|
(In thousands)
|
||||||||||||||
Interest income
|
$
|
(150
|
)
|
|
$
|
(483
|
)
|
|
$
|
(360
|
)
|
|
$
|
(805
|
)
|
Interest expense
|
11,339
|
|
|
4,213
|
|
|
22,776
|
|
|
8,129
|
|
||||
Other expense, net
|
169
|
|
|
541
|
|
|
1,772
|
|
|
2,703
|
|
||||
Total interest and other expense, net
|
$
|
11,358
|
|
|
$
|
4,271
|
|
|
$
|
24,188
|
|
|
$
|
10,027
|
|
|
Three Months Ended
|
|
Six Months Ended
|
||||||||||||
|
July 1,
2012 |
|
July 3,
2011 |
|
July 1,
2012 |
|
July 3,
2011 |
||||||||
|
(In thousands)
|
||||||||||||||
(Loss) gain on disposition of Illumination and Detection Solutions business
|
$
|
—
|
|
|
$
|
(111
|
)
|
|
$
|
16
|
|
|
$
|
(1,696
|
)
|
Gain (loss) on disposition of Photoflash business
|
485
|
|
|
(13
|
)
|
|
992
|
|
|
(9
|
)
|
||||
(Loss) gain on disposition of other discontinued operations
|
(3
|
)
|
|
(33
|
)
|
|
9
|
|
|
(36
|
)
|
||||
Gain (loss) on disposition of discontinued operations before income taxes
|
$
|
482
|
|
|
$
|
(157
|
)
|
|
$
|
1,017
|
|
|
$
|
(1,741
|
)
|
•
|
changes in sales due to weakness in markets in which we sell our products and services, and
|
•
|
changes in our working capital requirements.
|
•
|
financial covenants contained in the financial instruments controlling our borrowings that limit our total borrowing capacity,
|
•
|
increases in interest rates applicable to our outstanding variable rate debt,
|
•
|
a ratings downgrade that would limit our ability to borrow under our senior unsecured revolving credit facility and our overall access to the corporate debt market,
|
•
|
increases in interest rates or credit spreads, as well as limitations on the availability of credit, that affect our ability to borrow under future potential facilities on a secured or unsecured basis,
|
•
|
a decrease in the market price for our common stock, and
|
•
|
volatility in the public debt and equity markets.
|
Item 3.
|
Quantitative and Qualitative Disclosures About Market Risk
|
Item 4.
|
Controls and Procedures
|
Item 1.
|
Legal Proceedings
|
Item 1A.
|
Risk Factors
|
•
|
accurately anticipate customer needs,
|
•
|
innovate and develop new technologies and applications,
|
•
|
successfully commercialize new technologies in a timely manner,
|
•
|
price our products competitively, and manufacture and deliver our products in sufficient volumes and on time, and
|
•
|
differentiate our offerings from our competitors’ offerings.
|
•
|
competition among buyers and licensees,
|
•
|
the high valuations of businesses and technologies,
|
•
|
the need for regulatory and other approval, and
|
•
|
our inability to raise capital to fund these acquisitions.
|
•
|
demand for and market acceptance of our products,
|
•
|
competitive pressures resulting in lower selling prices,
|
•
|
changes in the level of economic activity in regions in which we do business,
|
•
|
changes in general economic conditions or government funding,
|
•
|
settlements of income tax audits,
|
•
|
differing tax laws and changes in those laws, or changes in the countries in which we are subject to taxation,
|
•
|
changes in our effective tax rate,
|
•
|
changes in industries, such as pharmaceutical and biomedical,
|
•
|
changes in the portions of our revenue represented by our various products and customers,
|
•
|
our ability to introduce new products,
|
•
|
our competitors’ announcement or introduction of new products, services or technological innovations,
|
•
|
costs of raw materials, energy or supplies,
|
•
|
our ability to execute ongoing productivity initiatives,
|
•
|
changes in the volume or timing of product orders,
|
•
|
fluctuation in the expense related to mark-to-market and curtailments on postretirement benefit plans, and
|
•
|
changes in assumptions used to determine contingent consideration in acquisitions.
|
•
|
changes in foreign currency exchange rates,
|
•
|
changes in a country’s or region’s political or economic conditions, particularly in developing or emerging markets,
|
•
|
longer payment cycles of foreign customers and timing of collections in foreign jurisdictions,
|
•
|
trade protection measures and import or export licensing requirements,
|
•
|
differing tax laws and changes in those laws, or changes in the countries in which we are subject to tax,
|
•
|
adverse income tax audit settlements or loss of previously negotiated tax incentives,
|
•
|
differing business practices associated with foreign operations,
|
•
|
difficulty in transferring cash between international operations and the United States,
|
•
|
difficulty in staffing and managing widespread operations,
|
•
|
differing labor laws and changes in those laws,
|
•
|
differing protection of intellectual property and changes in that protection,
|
•
|
increasing global enforcement of anti-bribery and anti-corruption laws, and
|
•
|
differing regulatory requirements and changes in those requirements.
|
•
|
requiring us to dedicate significant cash flow from operations to the payment of principal and interest on our debt, which reduces the funds we have available for other purposes, such as acquisitions and stock repurchases;
|
•
|
reducing our flexibility in planning for or reacting to changes in our business and market conditions; and
|
•
|
exposing us to interest rate risk since a portion of our debt obligations are at variable rates.
|
•
|
pay dividends on, redeem or repurchase our capital stock,
|
•
|
sell assets,
|
•
|
incur obligations that restrict our subsidiaries’ ability to make dividend or other payments to us,
|
•
|
guarantee or secure indebtedness,
|
•
|
enter into transactions with affiliates, and
|
•
|
consolidate, merge or transfer all, or substantially all, of our assets and the assets of our subsidiaries on a consolidated basis.
|
•
|
operating results that vary from the expectations of securities analysts and investors,
|
•
|
the financial performance of the major end markets that we target,
|
•
|
the operating and securities price performance of companies that investors consider to be comparable to us,
|
•
|
announcements of strategic developments, acquisitions and other material events by us or our competitors, and
|
•
|
changes in global financial markets and global economies and general market conditions, such as interest or foreign exchange rates, commodity and equity prices and the value of financial assets.
|
Item 2.
|
Unregistered Sales of Equity Securities and Use of Proceeds
|
|
Issuer Repurchases of Equity Securities
|
|||||||||||
Period
|
Total Number of
Shares
Purchased
(1)(2)
|
|
Average Price
Paid Per
Share
|
|
Total Number of
Shares Purchased as
Part of Publicly
Announced Plans or
Programs
|
|
Maximum Number of
Shares that May Yet
Be Purchased
Under the Plans or
Programs
|
|||||
April 2, 2012—April 29, 2012
|
1,457
|
|
|
$
|
26.38
|
|
|
—
|
|
|
5,999,167
|
|
April 30, 2012—May 27, 2012
|
8,196
|
|
|
$
|
25.95
|
|
|
—
|
|
|
5,999,167
|
|
May 28, 2012—July 1, 2012
|
7,001
|
|
|
$
|
25.70
|
|
|
—
|
|
|
5,999,167
|
|
Activity for quarter ended July 1, 2012
|
16,654
|
|
|
$
|
25.88
|
|
|
—
|
|
|
5,999,167
|
|
(1)
|
On October 23, 2008, we announced that our Board authorized us to repurchase up to
10.0 million
shares of common stock under a stock repurchase program (the “Repurchase Program”). On August 31, 2010, we announced that our Board had authorized us to repurchase an additional
5.0 million
shares of common stock under the Repurchase Program. The Repurchase Program will expire on October 22, 2012 unless terminated earlier by our Board, and may be suspended or discontinued at any time. During the
second
quarter of
fiscal year 2012
, we did not repurchase any shares of common stock in the open market under the Repurchase Program. As of
July 1, 2012
,
6.0 million
shares of our common stock remained available for repurchase from the
15.0 million
shares authorized by our Board under the Repurchase Program.
|
(2)
|
Our Board has authorized us to repurchase shares of common stock to satisfy minimum statutory tax withholding obligations in connection with the vesting of restricted stock awards and restricted stock unit awards granted pursuant to our equity incentive plans. During the
second
quarter of
fiscal year 2012
, we repurchased
16,654
shares of common stock for this purpose. The repurchased shares have been reflected as a reduction in shares outstanding, but remain available to be reissued with the payments reflected in common stock and capital in excess of par value.
|
Item 6.
|
Exhibits
|
Exhibit
Number
|
|
Exhibit Name
|
|
|
|
31.1
|
|
Certification of Chief Executive Officer pursuant to Rule 13a-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
|
|
|
|
31.2
|
|
Certification of Chief Financial Officer pursuant to Rule 13a-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
|
|
|
|
32.1
|
|
Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
|
|
|
|
101.INS
|
|
XBRL Instance Document.
|
|
|
|
101.SCH
|
|
XBRL Taxonomy Extension Schema Document.
|
|
|
|
101.CAL
|
|
XBRL Taxonomy Extension Calculation Linkbase Document.
|
|
|
|
101.DEF
|
|
XBRL Taxonomy Extension Definition Linkbase Document.
|
|
|
|
101.LAB
|
|
XBRL Taxonomy Extension Labels Linkbase Document.
|
|
|
|
101.PRE
|
|
XBRL Taxonomy Extension Presentation Linkbase Document.
|
|
P
ERKIN
E
LMER
, I
NC
.
|
||
|
|
|
|
August 7, 2012
|
By:
|
|
/s/ F
RANK
A. W
ILSON
|
|
|
|
Frank A. Wilson
Senior Vice President and
Chief Financial Officer
(Principal Financial Officer)
|
|
P
ERKIN
E
LMER
, I
NC
.
|
||
|
|
|
|
August 7, 2012
|
By:
|
|
/s/ A
NDREW
O
KUN
|
|
|
|
Andrew Okun
Vice President and Chief Accounting Officer
(Principal Accounting Officer)
|
Exhibit
Number
|
|
Exhibit Name
|
|
|
|
31.1
|
|
Certification of Chief Executive Officer pursuant to Rule 13a-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
|
|
|
|
31.2
|
|
Certification of Chief Financial Officer pursuant to Rule 13a-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
|
|
|
|
32.1
|
|
Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
|
|
|
|
101.INS
|
|
XBRL Instance Document.
|
|
|
|
101.SCH
|
|
XBRL Taxonomy Extension Schema Document.
|
|
|
|
101.CAL
|
|
XBRL Taxonomy Extension Calculation Linkbase Document.
|
|
|
|
101.DEF
|
|
XBRL Taxonomy Extension Definition Linkbase Document.
|
|
|
|
101.LAB
|
|
XBRL Taxonomy Extension Labels Linkbase Document.
|
|
|
|
101.PRE
|
|
XBRL Taxonomy Extension Presentation Linkbase Document.
|
No information found
* THE VALUE IS THE MARKET VALUE AS OF THE LAST DAY OF THE QUARTER FOR WHICH THE 13F WAS FILED.
FUND | NUMBER OF SHARES | VALUE ($) | PUT OR CALL |
---|
DIRECTORS | AGE | BIO | OTHER DIRECTOR MEMBERSHIPS |
---|
No information found
Customers
Customer name | Ticker |
---|---|
Stryker Corporation | SYK |
Price
Yield
Owner | Position | Direct Shares | Indirect Shares |
---|