Dade Behring's Sales Rise in First Quarter

These results include a favorable one-time impact resulting from the company's adoption of a new accounting standard. Excluding this impact, sales were still up 7%. The growth was attributed to increased sales of the company's Dimension system and specialty product lines.

For the full year 2000, however, revenues were US$1.184 billion, about a 10% decrease from 1999. Dade Behring says revenues were affected by rising interest rates and a falling Euro as well as a decision to insource the distribution of two important product lines, which required a significant short-term use of cash.

"We are continuing to take aggressive, well-considered steps to address our financial performance, which was disappointing in 2000,” said Jim Reid-Anderson, president and CEO. "Already, we have eliminated several layers of management, consolidated support areas, and completed a significant global restructuring. These actions are generating encouraging results, and we are seeing revenue and earnings growth versus both our current financial plan and prior year in the first quarter of 2001.”


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