EX-99 2 c58118ex99.txt ANNUAL SHAREHOLDERS' MEETING SLIDES 1 Welcome to the 2000 Annual Meeting of Shareholders [LOGO OF PERRIGO] Allegan, Michigan October 31, 2000 2 [LOGO OF PERRIGO] 3 Store Brand OTC Leader - Market Share - Breadth of Products - Quality - Operational Excellence - Retailer Relationships 4 Fiscal 2000 Review ($ millions, except EPS) 1999 2000 ---- ---- Sales $ 878 $ 739 - w/o Personal Care 687 721 Net Income 1.5* 19.3 EPS 0.02 0.26 Working Capital 249 155 Long-Term Debt $ 135 $ 0 * Included one-time charges of $20.4 for write-off of Russian investment, personal care and work force reduction. 5 Competitive Position Perrigo today remains the leader of store brand OTC pharmaceuticals and nutritional supplements. 6 Four Key Focus Initiatives - Quality 7 Four Key Focus Initiatives - Quality - Customer Service 8 Four Key Focus Initiatives - Quality - Customer Service - Low Cost Supplier 9 Four Key Focus Initiatives - Quality - Customer Service - Low Cost Supplier - Innovation 10 International Opportunities 11 Better Execution 12 First Quarter Results ($ millions, except EPS) 2000 ------------------------- 2001 Reported Pro-forma Reported -------- --------- -------- Sales $212.3 $194.5 $193.3 Net Income 10.0 9.6 10.5 Diluted EPS $ 0.14 $ 0.13 $ 0.14 13 Strong Financial Position ($ millions) First Quarter F2001 F2000 ----- ----- Operating Cash Flow $ 32.6 $ (7.3) At Quarter End 9/30/00 7/01/00 ------- ------- Cash & Cash Equivalents $ 33.4 $ 7.1 Other Working Capital 132.2 147.7 Long-Term Debt -0- -0- Shareholders' Equity $ 362.6 $ 351.8 14 Financial Objectives - Double-digit sales growth 15 Financial Objectives - Double-digit sales growth - Earnings growth greater than sales 16 Financial Objectives - Double-digit sales growth - Earnings growth greater than sales - Working capital of 15% - 18% of sales 17 Financial Objectives - Double-digit sales growth - Earnings growth greater than sales - Working capital of 15% - 18% of sales - Return on assets of 12% - 14%