-----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, HYJ4ollqMVx/fbaoV45Y0zyA5lSnnc9bqa2czuCIheHthwVIC1KiphxZCoRf8dZd JqPMjCKQtIZz0h0MrDi5uQ== 0001157523-03-003166.txt : 20030723 0001157523-03-003166.hdr.sgml : 20030723 20030723080132 ACCESSION NUMBER: 0001157523-03-003166 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030723 ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20030723 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: 03797342 BUSINESS ADDRESS: STREET 1: 5700 W 96TH ST CITY: LOS ANGELES STATE: CA ZIP: 90045 BUSINESS PHONE: 3106458200 8-K 1 a4439669.txt DIAGNOSTIC PRODCUTS 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) JULY 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 July 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 July 23, 2003, Diagnostic Products Corporation announced its results of operations for the quarter ended June 30, 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: July 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 July 23, 2003. EX-99 3 a4439669_ex991.txt DIAGNOSTIC PRODUCTS EXHIBIT 99.1 Exhibit 99.1 Diagnostic Products Corporation Announces Record Sales and Earnings LOS ANGELES--(BUSINESS WIRE)--July 23, 2003--Diagnostic Products Corporation (NYSE:DP) today reported record sales of $96.0 million for its second quarter, a 13.5% increase over the second quarter of 2002. Earnings were $16.6 million, or $.56 per diluted share, an increase of 18% from $14.1 million or $.47 for the second quarter of 2002. The dollar weakened in the second quarter of 2003, which had a 6.2% positive impact on sales and contributed to a $611,000 foreign currency transaction gain. International sales were $68.5 million and domestic sales were $27.5 million. Sales of IMMULITE products continued to be very strong, growing 19% over the second quarter of 2002. IMMULITE product line sales reached $85.2 million for the quarter, 89% of the total sales of the Company. Immulite reagent sales increased 24% this quarter over the second quarter of 2002. Sales of RIA products were $6.9 million, a 12% decline from last year's second quarter. Sales of other products were $3.8 million, down from $5.0 million in the same period last year. The Company shipped a total of 201 IMMULITE Instruments in the second quarter including 123 IMMULITE 2000s. The total number of IMMULITEs shipped is now over 8,500. "Our Immulite business continues to do very well," said Michael Ziering, President and CEO of DPC. "We were particularly pleased with the level of Immulite 2000 reagent sales, which reached $46 million for the quarter, an increase of 40% over last year." 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 and 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 June 30, 2003 2002 SALES: Non-Affiliated Customers $88,186 $76,102 Unconsolidated Affiliates 7,765 8,434 Total Sales 95,951 84,536 COST OF SALES 39,964 35,692 Gross Profit 55,987 48,844 OPERATING EXPENSES: Selling 15,622 13,448 Research and Development 10,047 9,319 General and Administrative 8,308 7,560 Equity in Income of Affiliates (1,463) (1,118) OPERATING EXPENSES - NET 32,514 29,209 OPERATING INCOME 23,473 19,635 Interest/Other Income (Expense) - Net 124 610 INCOME BEFORE INCOME TAXES AND MINORITY INTEREST 23,597 20,245 PROVISION FOR INCOME TAXES 6,843 6,276 MINORITY INTEREST 132 (81) NET INCOME $16,622 $14,050 EARNINGS PER SHARE: BASIC $.58 $.49 DILUTED $.56 $.47 WEIGHTED AVERAGE SHARES OUTSTANDING: BASIC 28,690 28,465 DILUTED 29,659 29,723 CONTACT: Diagnostic Products Corporation James L. Brill, 310-645-8200; Fax: 310-645-9999 info@dpconline.com -----END PRIVACY-ENHANCED MESSAGE-----