-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, HxWlevip3mmMwcgFdp59M2eriYquoAq2eIm8cQeSzPX6bDoF7AyTgQBeNX103yND j2oFGhX9eA8SEAdsI9eWrw== 0001157523-03-001234.txt : 20030423 0001157523-03-001234.hdr.sgml : 20030423 20030423080048 ACCESSION NUMBER: 0001157523-03-001234 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030423 ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20030423 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DIAGNOSTIC PRODUCTS CORP CENTRAL INDEX KEY: 0000702259 STANDARD INDUSTRIAL CLASSIFICATION: IN VITRO & IN VIVO DIAGNOSTIC SUBSTANCES [2835] IRS NUMBER: 952802182 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-09957 FILM NUMBER: 03659063 BUSINESS ADDRESS: STREET 1: 5700 W 96TH ST CITY: LOS ANGELES STATE: CA ZIP: 90045 BUSINESS PHONE: 3106458200 8-K 1 a4381135.txt DIAGNOSTIC PRODUCTS 8-K U.S. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 --------------------------- FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) APRIL 23,2003 ------------- Diagnostic Products Corporation ------------------------------- (Exact name of Registrant as specified in its charter) California 1-9957 95-2802182 ---------- ------ ---------- (State or other jurisdiction (Commission File Number) (IRS Employer of incorporation) Identification No.) 5700 West 96th Street, Los Angeles, California 90045 ---------------------------------------------------- (Address of principal executive offices) (Zip Code) (310) 645-8200 (Registrant's telephone number, including area code) Diagnostic Products Corporation Current Report on Form 8-K ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS. (c) Exhibits. No. 99.1 Press Release issued by Diagnostic Products Corporation, dated April 23, 2003. ITEM 9. REGULATION FD DISCLOSURE. The information required by ITEM 12, RESULTS OF OPERATIONS AND FINANCIAL CONDITION, of Form 8-K is being furnished in this ITEM 9 in accordance with interim guidance of the SEC. On April 23,2003, Diagnostic Products Corporation announced its results of operations for the quarter ended March 31, 2003. A copy of the related press release is being furnished as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference in its entirety. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: April 23, 2003 Diagnostic Products Corporation By: /S/ James L. Brill ---------------------------------------- James L. Brill, Vice President, Finance EXHIBIT INDEX Exhibit Number - -------------- 99.1 Press Release issued by Diagnostic Products Corporation, dated April 23, 2003. EX-99 3 a4381135_ex991.txt DIAGNOSTIC PRODUCTS EXHIBIT 99.1 Exhibit 99.1 Diagnostic Products Corporation Announces First Quarter Earnings LOS ANGELES--(BUSINESS WIRE)--April 23, 2003--Diagnostic Products Corporation (NYSE:DP) today reported first quarter sales of $86.9 million, a 16.4% increase over the first quarter of 2002. Earnings were $12.7 million, or $.43 per diluted share, an increase of 17.6% from $10.8 million or $.37 reported for the first quarter of 2002. The Euro strengthened relative to the dollar while the Brazilian Real weakened, and the net effect of foreign currency movements was a 5.6% increase in sales. International sales increased 15.6% to $62.4 million while domestic sales increased 18.4% to $24.5 million. Sales of IMMULITE products continued to be strong, growing 21% over the first quarter of 2002. IMMULITE product line sales reached $75.7 million for the quarter, 87% of the total sales of the Company. IMMULITE reagents sales increased 31% this quarter over the first quarter of 2002. Sales of RIA products were $6.8 million, a 14% decline from last year's first quarter. Sales of other products were $4.4 million, down from $4.5 million in the same period last year. "Our IMMULITE business continues to do very well," said Michael Ziering, President and CEO of DPC. "We were particularly pleased with the level of reagent sales and our performance in the United States this quarter." The Company shipped a total of 216 IMMULITE Instruments in the first quarter including 141 IMMULITE 2000s. The total number of IMMULITEs shipped is now over 8,000. Founded in 1971, Diagnostic Products Corporation (DPC) is the global leader dedicated exclusively to immunodiagnostic testing. The Company's product menu includes over 400 tests to measure microorganisms, hormones, drugs and other medically important substances present at infinitesimal concentrations in body fluids and tissues. DPC also designs and manufactures automated laboratory instrumentation which provides fast, accurate results while reducing labor and reagent costs. DPC sells its products to hospitals, clinics and laboratories domestically and in over 100 international countries. Additional Company information can be found on the Company's web site at www.dpcweb.com. Except for the historical information contained herein, this press release contains forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially. These factors include the effects of governmental or other actions relating to the Company's Chinese subsidiary; the rate of customer demand for the Company's products; the Company's ability to successfully market new and existing products; its dependence on certain suppliers; domestic and foreign government regulation; its ability to keep abreast of technological innovations and to translate them into new products; competition; political and economic instability in certain markets including the movements of foreign currencies relative to the dollar; and other risks and uncertainties disclosed from time to time in the Company's SEC reports and filings. Diagnostic Products Corporation and Subsidiaries Consolidated Statements of Income (Unaudited - In thousands except per share data) Three Months Ended March 31, 2003 2002 SALES: Non-Affiliated Customers $80,247 $67,451 Unconsolidated Affiliates 6,633 7,189 Total Sales 86,880 74,640 COST OF SALES 36,556 30,670 Gross Profit 50,324 43,970 OPERATING EXPENSES: Selling 15,433 13,150 Research and Development 10,003 8,711 General and Administrative 8,599 6,657 Equity in Income of Affiliates (1,458) (712) OPERATING EXPENSES - NET 32,577 27,806 OPERATING INCOME 17,747 16,164 Interest/Other Income (Expense) - Net 29 (179) INCOME BEFORE INCOME TAXES AND MINORITY INTEREST 17,776 15,985 PROVISION FOR INCOME TAXES 5,155 4,955 MINORITY INTEREST (86) 223 NET INCOME $12,707 $10,807 EARNINGS PER SHARE: BASIC $.44 $.38 DILUTED $.43 $.37 WEIGHTED AVERAGE SHARES OUTSTANDING: BASIC 28,622 28,360 DILUTED 29,544 29,517 CONTACT: Diagnostic Products Corporation, Los Angeles James L. Brill, 310/645-8200 -----END PRIVACY-ENHANCED MESSAGE-----