NameTable of each exchange Title of each class on which registered ------------------- ----------------------- Common Stock, par value $0.01 per share New York Stock Exchange Preferred Stock Purchase Rights (associated with the Common Stock) New York Stock ExchangeContents

~~Item~~ UNITED ~~Page~~STATES ~~----~~SECURITIES ~~----~~AND PART I 1 Business.......................................................... 1 2 Properties........................................................ 9 3 Legal Proceedings................................................. 10 4 Submissions of Matters to a Vote of Security Holders.............. 11 PART II Market for Registrant's Common Equity and Related Shareholder 5 Matters........................................................... 13 6 Selected Financial Data........................................... 14 Management's Discussion and Analysis of Financial Condition and 7 Results of Operations............................................. 15 7A Quantitative and Qualitative Disclosures About Market Risk........ 32 8 Financial Statements and Supplementary Data....................... 34 Changes in and Disagreements With Accountants on Accounting and 9 Financial Disclosure.............................................. 78 PART III 10 Directors and Executive Officers of the Registrant................ 78 11 Executive Compensation............................................ 78 12 Security Ownership of Certain Beneficial Owners and Management.... 78 13 Certain Relationships and Related Transactions.................... 78 PART IV 14 Exhibits, Financial Statement Schedules, and Reports on Form 8-K.. 79 Signatures........................................................ 80EXCHANGE COMMISSION

~~Years Ended September 30~~ Washington, ~~-------------------------- 2001 2000 1999 -------- -------- -------- (in thousands) Clinical Diagnostics~~ D.C.~~...........................~~ $477,233 $413,565 $342,529 Labware and Life Sciences........................ 400,823 347,437 268,788 Laboratory Equipment............................. 106,409 102,573 103,720 -------- -------- -------- Total Net Sales................................ $984,465 $863,575 $715,037 ======== ======== ========20549

~~Fiscal~~ Form ~~Year Ended September 30,~~ 10-------------------------- 2001 2000 1999 -------- -------- -------- (in thousands) Clinical Diagnostics Domestic....................................... $381,599 $331,570 $284,585 International.................................. 95,634 81,995 57,944 -------- -------- -------- Total........................................ $477,233 $413,565 $342,529 ======== ======== ======== Labware and Life Sciences: Domestic....................................... $263,546 $233,597 $176,649 International.................................. 137,277 113,840 92,139 -------- -------- -------- Total........................................ $400,823 $347,437 $268,788 ======== ======== ======== Laboratory Equipment: Domestic....................................... $ 82,163 $ 79,004 $ 82,685 International.................................. 24,246 23,569 21,035 -------- -------- -------- Total........................................ $106,409 $102,573 $103,720 ======== ======== ========K

~~Fiscal~~ ANNUAL ~~Year~~REPORT ~~Ended~~PURSUANT ~~September~~TO ~~30,~~SECTION 13 ~~-----------------------~~OR ~~2001 2000 1999 ------- ------- -------~~ 15(~~in thousands~~d) Clinical Diagnostics................................. $ 8,157 $ 8,234 $ 5,983 Labware and Life Sciences............................ 8,785 6,964 4,265 Laboratory Equipment................................. 3,916 3,104 2,314 ------- ------- ------- Total............................................ $20,858 $18,302 $12,562 ======= ======= =======

~~Fiscal~~ OF ~~Year~~THE ~~Ended~~SECURITIES ~~September~~EXCHANGE ~~30,~~ACT ~~-----------------------~~OF 2001 2000 1999 ------- ------- ------- (in thousands) Clinical Diagnostics................................ $15,760 $11,739 $10,951 Labware and Life Sciences........................... 15,589 20,685 15,908 Laboratory Equipment................................ 4,517 6,097 4,261 ------- ------- ------- Total............................................. $35,866 $38,521 $31,120 ======= ======= =======1934

~~Subsidiary/location~~ For ofThe ~~facility~~Fiscal ~~Building~~Year ~~space~~Ended and use Owned or leased ------------------------------- ---------------------- --------------- Labware and Life Sciences 300,000 sq. ft./manufacturing, Penfield, New York warehouse and office leased 26,000 sq. ft./manufacturing, New Castle, Delaware warehouse and office leased 21,000 sq. ft./warehouse Wiesbaden, Germany and office leased 103,000 sq. ft./manufacturing, Naperville, Illinois warehouse and office owned 151,000 sq. ft./manufacturing, Roskilde, Denmark warehouse and office owned Ichikawa, Japan 38,000 sq. ft./warehouse leased 44,000 sq. ft./manufacturing, Hudson, New Hampshire warehouse and office leased Otay, California 29,000 sq. ft./warehouse leased 38,000 sq. ft./office and Duluth, Georgia warehouse leased 25,000 sq. ft./manufacturing, Tijuana, Mexico warehouse and office leased 74,000 sq. ft./manufacturing and San Diego, California office leased 24,000 sq. ft./warehouse Hereford, England and office leased 27,000 sq. ft./manufacturing, Portsmouth, New Hampshire warehouse and office leased 70,000 sq. ft./manufacturing and Sunnyvale, California office leased 45,000 sq. ft./manufacturing, office Surrey, England and warehouse leased 49,000 sq. ft./manufacturing, office Epsom, England and warehouse leased Clinical Diagnostics 220,000 sq. ft./manufacturing, Rockwood, Tennessee warehouse and office owned 151,000 sq. ft./manufacturing, Portsmouth, New Hampshire warehouse and office leased 40,000 sq. ft./manufacturing, Braunschweig, Germany warehouse and office owned 200,000 sq. ft./manufacturing, Romont, Switzerland warehouse and office owned 23,000 sq. ft./manufacturing, Aguadilla, Puerto Rico warehouse and office leased 80,000 sq. ft./manufacturing, Naugatuck, Connecticut warehouse and office owned 28,000 sq. ft./manufacturing, Budapest, Hungary warehouse and office owned 77,000 sq. ft./manufacturing, San Fernando, California warehouse and office owned 22,000 sq. ft./manufacturing, Meiningen, Germany warehouse and office owned September 30,000 sq. ft./manufacturing, Holtsville, New York warehouse and office owned 21,000 sq. ft./manufacturing and Baltimore, Maryland office leased 32,000 sq. ft./manufacturing, Wayne, New Jersey warehouse and office leased 116,000 sq. ft./manufacturing, Kalamazoo, Michigan warehouse and office leased 36,000 sq. ft./manufacturing, Plymouth, Massachusetts warehouse and office leased 49,000sq. ft./manufacturing, Indianapolis, Indiana warehouse and R & D leased 116,000 sq. ft./manufacturing and Lenexa, Kansas office owned 63,000 sq. ft./warehouse Lenexa, Kansas and office leased 24,000 sq. ft./manufacturing and Lake Charles, Louisiana office owned 25,000 sq. ft./manufacturing, Ramsey, Minnesota warehouse and office leased 67,000 sq. ft./manufacturing, San Diego, California warehouse, office and labs leased 109,000 sq. ft./manufacturing, Fremont, California warehouse and office leased 26,000 sq. ft/manufacturing, Austin, Texas warehouse and office leased 69,000 sq. ft./manufacturing, East Providence, Rhode Island warehouse and office leased 24,000 sq. Walldorf, Germany ft./manufacturing leased 20,000 sq. Barcelona, Spain ft./manufacturing leased 41,000 sq.ft./manufacturing and Lake Forest, California office owned Laboratory Equipment 190,000 sq. ft./manufacturing and Dubuque, Iowa office leased 117,000 sq. ft./manufacturing and Melrose Park, Illinois office owned 20,000 sq. West Paterson, New Jersey ft./manufacturing leased 29,000 sq. ft./manufacturing, Southend-on-Sea, England warehouse and office leased Apogent Corporate Headquarters Portsmouth, New Hampshire 24,000 sq. ft./office leased 2004

~~Name~~ Commission ~~Age~~File ~~Positions~~Number 001---- --- --------- Kenneth F. Yontz........ 57 Chairman of the Board Frank H. Jellinek, Jr. ................... 56 President and Chief Executive Officer Jeffrey C. Leathe....... 45 Executive Vice President--Finance, Chief Financial Officer and Treasurer Michael K. Bresson...... 43 Executive Vice President--General Counsel and Secretary Robert N. Griffin....... 62 Vice President, Regulatory Affairs and Quality Assurance Gary J. Marmontello..... 56 Vice President, Human Resources Verner Andersen......... 45 Group President, Labware and Life Sciences Mark F. Stuppy.......... 47 Group President, Clinical Consumables Stephen K. Wiatt........ 56 Group President, Industrial Glass Operations Peter Scheu............. 36 Group President, Clinical Diagnostics Duncan R. Ross.......... 44 Group President, Laboratory Equipment Yuh-geng Tsay........... 55 Group President, Immunoassay Diagnostics11091

~~Common~~ Apogent ~~Stock~~Technologies ~~--------------- High Low ------- ------- (in dollars) Fiscal Year and Quarter 2000 1st Quarter~~Inc.............................................. $27.813 $20.668 2nd Quarter.............................................. 29.313 21.375 3rd Quarter.............................................. 33.063 16.375 4th Quarter.............................................. 25.875 19.063 2001 1st Quarter through December 11, 2000*................... $29.125 $18.952 1st Quarter beginning December 12, 2000*................. 24.438 18.625 2nd Quarter.............................................. 22.050 17.875 3rd Quarter.............................................. 25.800 18.950 4th Quarter.............................................. 25.400 21.350

~~2001 2000 1999 1998 1997 ---------- ---------- ---------- ---------- --------~~ (inExact ~~thousands,~~name ~~except for per share data) Statement~~ of ~~Income~~registrant ~~Data:~~as ~~Net~~specified sales............... $ 984,465 $ 863,575 $ 715,037 $ 557,762 $439,940 Income from continuing operations............. 109,871 86,724 77,411 52,122 47,045 Discontinued operations............. (11,824)(b) 41,597(b) 47,965(b) 23,921(c) 41,493(b) Income before extraordinary items.... 98,047 128,321 125,376 76,043 88,538 Extraordinary items..... (2,106)(a) -- 17,171(d) -- (404)(a) Net income.............. 95,941 128,321 142,547 76,043 88,134 Earnings per share: Basic earnings per common share from continuing operations.. 1.04 .83(e) .75 .51(e) .47 Discontinued operations............. (.11) .40 .46 .23 .41 Extraordinary items..... (.02) -- .17 -- -- Basic earnings per common share........... .91 1.23(e) 1.38 .74(e) .88 Diluted earnings per common share from continuing operations.. 1.02 .81(e) .73 .49(e) .45 Discontinued operations............. (.11) .39 .45 .23 .40 Extraordinary items..... (.02) -- .16 -- -- Diluted earnings per common share........... .89 1.20(e) 1.34 .72(e) .85 As of September 30, ----------------------------------------------------------------- 2001 2000 1999 1998 1997 ---------- ---------- ---------- ---------- -------- (in ~~thousands~~its charter) Balance Sheet Data: Net assets of discontinued operations............. $ -- $ 152,970 $ 155,595 $ 129,508 $104,800 Total assets............ 1,835,138 1,792,364 1,539,975 1,227,852 975,084 Loans and advances from SDS.................... -- 77,762 56,777 29,088 55,176 Long-term debt.......... 657,430 683,736 599,198 541,914 416,740 Shareholders' equity.... 838,490 749,516 625,344 475,244 378,649

Fiscal Fiscal Dollar Percent 2001 2000 Change Change -------- -------- -------- ------- (in thousands) Net Sales Clinical Diagnostics.................... $477,233 $413,565 $ 63,668 15.4% Labware and Life Sciences............... 400,823 347,437 53,386 15.4% Laboratory Equipment.................... 106,409 102,573 3,836 3.7% -------- -------- -------- Total Net Sales....................... $984,465 $863,575 $120,890 14.0% ======== ======== ========


Wisconsin		22-2849508
(State or other jurisdiction of Incorporation or organization)		(I.R.S. Employer Identification No.)

~~Fiscal~~ One ~~Percent~~Liberty Fiscal Percent Dollar Percent 2001 of Sales 2000 of Sales Change Change -------- -------- -------- -------- ------- ------- (in thousands) Gross Profit Clinical Diagnostics.. $228,009 47.8% $199,571 48.3% $28,438 14.2% Labware and Life Sciences............. 205,079 51.2% 179,019 51.5% 26,060 14.6% Laboratory Equipment.. 45,188 42.5% 43,540 42.4% 1,648 3.8% -------- -------- ------- Total Gross Profit.. $478,276 48.6% $422,130 48.9% $56,146 13.3% ======== ======== =======Lane

~~Fiscal Fiscal Dollar Percent 2001 2000 Change Change -------- -------- ------- ------- (in thousands) Selling~~ Hampton, ~~General~~NH and Administrative Expenses Clinical Diagnostics................. $109,566 $ 96,706 $12,860 13.3 % Labware and Life Sciences............ 114,685 100,365 14,320 14.3 % Laboratory Equipment................. 23,045 22,316 729 3.3 % -------- -------- ------- Subtotal........................... 247,296 219,387 27,909 12.7 % Corporate Office..................... 6,264 9,754 (3,490) (35.8)% -------- -------- ------- Total Selling, General and Administrative Expenses........... $253,560 $229,141 $24,419 10.7 % ======== ======== =======03842

~~Fiscal Fiscal Dollar Percent 2001 2000 Change Change -------- -------- ------- -------~~ (inAddress ~~thousands)~~of ~~Operating~~principal ~~Income~~executive ~~Clinical Diagnostics.................. $118~~offices,~~446~~ including ~~$102,506~~zip $15,940 15.6 % Labware and Life Sciences............. 90,388 79,095 11,293 14.3 % Laboratory Equipment.................. 22,146 21,142 1,004 4.7 % -------- -------- ------- Subtotal............................ 230,980 202,743 28,237 13.9 % Corporate Office...................... (6,264code) ~~(9,754) 3,490 (35.8)% -------- -------- ------- Total Operating Income.............. $224,716 $192,989 $31,727 16.4 % ======== ======== =======~~

~~Fiscal Fiscal Dollar Percent 2000 1999 Change Change -------- -------- -------- -------~~ (~~in thousands~~603) Net Sales Clinical Diagnostics.................. $413,565 $342,529 $ 71,036 20.7 % Labware and Life Sciences............. 347,437 268,788 78,649 29.3 % Laboratory Equipment.................. 102,573 103,720 (1,147) (1.1)% 926-~~------- -------- -------- Total Net Sales..................... $863,575 $715,037 $148,538 20.8 % ======== ======== ========~~5911

~~Fiscal Percent Fiscal Percent Dollar Percent 2000 of Sales 1999 of Sales Change Change -------- -------- -------- -------- ------- -------~~ (inRegistrant’s ~~thousands)~~telephone ~~Gross Profit Clinical Diagnostics.. $199~~number,~~571~~ ~~48.3%~~including area ~~$160,357 46.8% $39,214 24.5 % Labware and Life Sciences............. 179,019 51.5% 136,018 50.6% 43,001 31.6 % Laboratory Equipment.. 43,540 42.4% 45,583 43.9% (2,043~~code) ~~(4.5)% -------- -------- ------- Total Gross Profit.. $422,130 48.9% $341,958 47.8% $80,172 23.4 % ======== ======== =======~~

~~Fiscal~~ Securities ~~Fiscal~~registered ~~Dollar~~pursuant ~~Percent 2000 1999 Change Change -------- -------- ------- -------~~ to Section 12(~~in thousands~~b) ~~Selling,~~of ~~General~~the ~~and~~Act: Administrative Expenses Clinical Diagnostics....................... $ 96,706 $ 75,030 $21,676 28.9% Labware and Life Sciences.................. 100,365 68,600 31,765 46.3% Laboratory Equipment....................... 22,316 21,950 366 1.7% -------- -------- ------- Subtotal................................. 219,387 165,580 53,807 32.5% Corporate Office........................... 9,754 7,252 2,502 34.5% -------- -------- ------- Total Selling, General and Administrative Expenses................................ $229,141 $172,832 $56,309 32.6% ======== ======== =======None

~~Fiscal~~ Securities ~~Fiscal~~registered ~~Dollar~~pursuant ~~Percent 2000 1999 Change Change -------- -------- ------- -------~~ to Section 12(~~in thousands~~g) ~~Operating~~of ~~Income~~the ~~Clinical~~Act: Diagnostics................. $102,506 $ 87,587 $14,919 17.0 % Labware and Life Sciences............ 79,095 67,404 11,691 17.3 % Laboratory Equipment................. 21,142 21,387 (245) (1.1)% -------- -------- ------- Subtotal........................... 202,743 176,378 26,365 14.9 % Corporate Office..................... (9,754) (7,252) (2,502) 34.5 % -------- -------- ------- Total Operating Income............. $192,989 $169,126 $23,863 14.1 % ======== ======== =======None

~~Approximate~~ Indicate ~~Annual~~by ~~Sales~~check mark ~~Prior~~whether ~~Acquisition~~the ~~Company~~Registrant ~~to Acquisition Date Description ------- ------------------ ----------- -----------~~ (~~in thousands~~1) has ~~Clinical~~filed ~~Diagnostics~~all ~~Vacuum~~reports required ~~Process Technology, $ 3,977 November 2000 Designer and Inc........................ manufacturer of precision film optical coating equipment used~~ to ~~manufacture~~be ~~optically~~filed ~~motivated~~by ~~product~~Section 13 ~~for~~or a15(d) ~~variety~~ of ~~markets.~~the Securities ~~Disposable~~Exchange ~~Glass~~Act ~~Culture $ 5,800 April 2001 Disposable glass culture Tube Business~~ of ~~tubes~~1934 ~~used~~during inthe apreceding 12 months ~~variety~~(or ~~Kimble~~for ~~Glass~~such ~~Inc...........~~shorter ofperiod ~~general~~that ~~laboratory~~the ~~applications,~~Registrant was ~~including~~required ~~blood~~to ~~collection,~~file ~~blood~~such ~~banking~~reports), ~~urinalysis~~ and certain cell culture procedures. Innovative Diagnostics, $ 1,300 July 2001 Distributor of clinical Inc......................... chemistry controls. Medtek Diagnostics LLC...... $ 220 July 2001 Latex agglutination product line. Disposable Glass Pasteur $ (2~~,000~~) has ~~August~~been subject 2001 Disposable glass Pasteur Pipette and Perfume Sampler pipette and perfume Vial Product Line of Kimble sampler product lines. Glass, Inc................. Daniel Mirror Company....... $ 6,800 September 2001 Manufacturer of specialized "cut to ~~order"~~such ~~mirrors.~~filing ~~Labware~~requirements ~~and~~for ~~Life~~the ~~Sciences BioRobotics Group Limited~~past 90 days.~~.. $10,500 March 2001 Designer and manufacturer of automated instrumentation solutions used in functional genomics.~~ Yes þ No o

~~Approximate~~ Indicate ~~Annual~~by ~~Sales~~check mark ~~Prior~~if ~~Acquisition~~disclosure ~~Company~~of todelinquent ~~Acquisition~~filers ~~Date~~pursuant ~~Description~~to Item 405 ~~-------~~of Regulation S-~~-----------------~~K ~~-----------~~is ~~-----------~~not ~~(in~~contained ~~thousands) Advanced Biotechnologies $21~~herein,~~500 April 2001 Manufacturer of a Limited.................... comprehensive range of molecular biology reagents~~ and ~~special~~will ~~plastic~~not ~~consumables~~be ~~for the life sciences market. Mosaic Technologies~~contained, ~~Inc....~~to $the ~~1,400~~best ~~July 2001 Developer and manufacturer~~ of ~~solid~~registrant’s knowledge, ~~phase~~in ~~DNA~~definitive ~~amplification~~proxy ~~technology.~~or ~~Chromotography~~information ~~Vial~~statements incorporated ~~Product~~by $reference ~~7,200~~in ~~August~~Part III ~~2001 Chromatography vial Line~~ of ~~Kimble~~this Form 10-K ~~Glass,~~or ~~product~~any ~~line~~amendment ~~including~~to ~~Inc~~this Form 10-K.~~....................... vial inserts and accessories.~~ þ

~~Fixed~~ Indicate ~~Lease~~by ~~Shut~~check mark ~~down~~whether ~~Severance~~the ~~Inventory~~registrant ~~Assets~~is ~~Commitments~~an ~~Costs~~accelerated ~~Tax~~filer (a)as ~~(b) (b) (c) (c) (d) Other Total --------- --------- ------ ----------- --------- ------ ----- ------- (~~defined in ~~thousands) 2000 Restructuring charge................. $5,500 $2,100 $1,000 $500 $300 $1,000 $900 $11,300 2000 Cash payments...... 1,100~~ Rule 12b-~~- -- -- -- -- -- 1,100 2000 Non-cash charges... --~~ 2~~,100~~ ~~1,000~~of --the ~~-- -- 800 3,900 ------ ------ ------ ---- ---- ------ ---- ------- September 30, 2000 balance................ $4,400 $ -- $ -- $500 $300 $1,000 $100 $ 6,300 Adjustments (e~~Exchange Act)......... 600 600 2001 Cash payments...... 3,800 -- -- 200 200 1,000 -- 5,200 2001 Non-cash charges... -- -- 100 -- 100 200 ------ ------ ------ ---- ---- ------ ---- ------- September 30, 2001 balance................ $1,200 $ -- $ -- $300 $ -- $ -- $ -- $ 1,500 ====== ====== ====== ==== ==== ====== ==== ======= Yes þ No o

~~Lease~~ On Inventory Fixed Severance Payments Write-off Assets Goodwill (a) (b) (c) (c) (d) Total --------- -------- --------- ------ -------- ------ (in thousands) 1998 Restructuring Charge................... $3,400 $200 $1,800 $1,000 $August 2,~~100 $8~~ 2004,~~500~~ ~~1998~~the ~~Cash~~registrant ~~Payments........~~was ~~900~~acquired ~~100~~by --and --became -- 1,000 1998 Non-Cash Charges..... -- -- 1,800 1,000 2,100 4,900 ------ ---- ------ ------ ------ ------ September 30, 1998 balance.................. $2,500 $100 $ -- $ -- $ -- $2,600 1999 Cash Payments........ 1,900 100 -- -- -- 2,000 Adjustments (a~~)...........~~ ~~300~~ wholly--owned subsidiary --of --Fisher --Scientific ~~300~~International ~~------ ---- ------ ------ ------ ------ September 30, 1999 balance~~Inc.~~.................~~ $and ~~900~~the market $value --of $the --common $equity --of $the --registrant $owned ~~900 2000 Cash Payments........ 700~~ by non--affiliates --is ~~-- -- 700 ------ ---- ------ ------ ------ ------ September 30, 2000 balance~~zero.................. $ 200 $ -- $ -- $ -- $ -- $ 200 2001 Cash payments........ 200 -- -- -- -- 200 ------ ---- ------ ------ ------ ------ September 30, 2001 balance.................. $ -- $ -- $ -- $ -- $ -- $ -- ====== ==== ====== ====== ====== ======

~~2001 2000 1999 -------- -------- -------- (in thousands) Domestic net sales................................ $727~~ At December 13,~~310~~ ~~$643~~2004,~~188~~ ~~$543,846~~Fisher Scientific International ~~net sales~~Inc.~~..........................~~ holds ~~257,155~~all ~~220~~1,~~387~~000 shares ~~171,191~~of ~~--------~~the ~~--------~~Registrant’s ~~--------~~outstanding Common ~~Total~~Stock, ~~net~~par ~~sales.................................~~value $~~984,465~~0.01 ~~$863,575~~per ~~$715,037 ======== ======== ========~~share.

~~Page~~ THE ~~----~~REGISTRANT MEETS ~~Independent~~THE ~~Auditors'~~CONDITIONS ~~Report.............................................~~SET 35FORTH ~~Consolidated~~IN ~~Balance~~GENERAL INSTRUCTION I(1)(a) ~~Sheets~~AND as(b) OF ofFORM ~~September~~10-K ~~30,~~AND ~~2001~~IS THEREFORE ~~and~~FILING ~~2000............~~THIS 36FORM ~~Consolidated~~10-K ~~Statements~~WITH ofTHE ~~Income~~REDUCED ~~for the years ended September 30, 2001, 2000, and 1999~~DISCLOSURE FORMAT.......................................................... 37 Consolidated Statements of Shareholders' Equity for the years ended September 30, 2001, 2000, and 1999...................................... 38 Consolidated Statements of Cash Flows for the years ended September 30, 2001, 2000, and 1999.................................................... 39 Notes to Consolidated Financial Statements............................... 40

~~September~~ DOCUMENTS ~~30,~~INCORPORATED ~~----------------------~~BY ~~2001 2000 ---------- ---------- (In thousands except share and per share data) ASSETS ------ Current assets~~REFERENCE: Cash and cash equivalents............................ $ 9,192 $ 12,411 Accounts receivable (less allowance for doubtful accounts of $3,975 and $4,041 in 2001and 2000, respectively)....................................... 183,278 173,585 Inventories.......................................... 167,436 141,779 Deferred income taxes................................ 13,046 13,226 Net assets held for discountinued operations......... -- 152,970 Prepaid expenses and other current assets............ 20,985 16,564 ---------- ---------- Total current assets............................... 393,937 510,535 Available for sale security.......................... 55,072 54,444 Property, plant and equipment, net................... 223,687 208,094 Intangible assets.................................... 1,140,334 1,008,153 Deferred income taxes................................ 6,147 7,870 Other assets......................................... 15,961 3,268 ---------- ---------- Total assets....................................... $1,835,138 $1,792,364 ========== ========== LIABILITIES AND STOCKHOLDERS' EQUITY ------------------------------------ Current liabilities: Accounts payable..................................... $ 53,822 $ 51,899 Advances and loans from SDS.......................... -- 77,762 Current portion of long-term debt.................... 73,642 34,327 Income taxes payable................................. 38,747 16,604 Accrued payroll and employee benefits................ 33,236 30,509 Accrued interest expense............................. 15,292 4,849 Restructuring reserve................................ 1,552 5,609 Deferred income taxes................................ 911 807 Other current liabilities............................ 26,364 18,773 ---------- ---------- Total current liabilities.......................... 243,566 241,139 Long-term debt....................................... 583,788 649,409 Securities lending agreement......................... 55,072 54,444 Deferred income taxes................................ 107,220 93,048 Other liabilities.................................... 7,002 4,808 Commitments and contingent liabilities Shareholders' equity: Preferred stock, $0.01 par value; authorized 20,000,000 shares................................... -- -- Common stock, $0.01 par value; authorized 250,000,000 shares, issued 105,875,768 and 105,191,692 shares in 2001 and 2000, respectively; 105,875,548 outstanding and 105,191,472 shares in 2001 and 2000 respectively........................................ 1,059 1,052 Equity rights, 50 rights at $1.09 per right in 2001 and 2000 ........................................... -- -- Additional paid-in capital........................... 254,637 271,739 Retained earnings.................................... 627,642 531,701 Accumulated other comprehensive income............... (44,848) (54,976) Treasury common stock, 220 shares at cost in 2001 and 2000................................................ -- -- ---------- ---------- Total shareholders' equity......................... 838,490 749,516 ---------- ---------- Total liabilities and shareholders' equity......... $1,835,138 $1,792,364 ========== ========== None

~~Year~~ APOGENT ~~Ended~~TECHNOLOGIES ~~September 30, ---------------------------- 2001 2000 1999 -------- -------- -------- (In thousands except per share data) Net sales~~INC....................................... $984,465 $863,575 $715,037 Cost of sales: Cost of products sold......................... 505,559 436,508 372,528 Restructuring charge.......................... -- 4,413 -- Depreciation of purchase accounting adjustments.................................. 630 524 551 -------- -------- -------- Total cost of sales......................... 506,189 441,445 373,079 -------- -------- -------- Gross profit................................ 478,276 422,130 341,958 Selling, general and administrative expenses.... 208,305 186,418 147,883 Restructuring charge............................ 583 5,840 245 Depreciation and amortization of purchase accounting adjustments......................... 44,672 36,883 24,704 -------- -------- -------- Total selling, general and administrative adjustments................................ 253,560 229,141 172,832 -------- -------- -------- Operating income............................ 224,716 192,989 169,126 Other income (expense): Interest expense.............................. (48,698) (48,684) (40,073) Interest expense--SDS......................... -- (766) (1,151) Amortization of deferred financing fees....... (563) (533) (224) Other, net.................................... 5,284 1,319 (286) -------- -------- -------- Income from continuing operations before income taxes and extraordinary items.................. 180,739 144,325 127,392 Income taxes.................................... 70,868 57,601 49,981 -------- -------- -------- Income from continuing operations before extraordinary items............................ 109,871 86,724 77,411 Discontinued operations (net of income tax expense of $435, $28,339, and $30,930)......... (11,824) 41,597 47,965 -------- -------- -------- Income before extraordinary items............... 98,047 128,321 125,376 Extraordinary items Loss from early extinguishment of debt (net of income tax benefit of $1,359)................ (2,106) -- -- Gain on sale of discontinued operations (net of income tax expense of $15,828)............ -- -- 17,171 -------- -------- -------- Net income...................................... $ 95,941 $128,321 $142,547 ======== ======== ======== Basic earnings per common share from continuing operations..................................... $ 1.04 $ 0.83 $ 0.75 Discontinued operations......................... (0.11) 0.40 0.46 Extraordinary items............................. (0.02) -- 0.17 -------- -------- -------- Basic earnings per common share................. $ 0.91 $ 1.23 $ 1.38 ======== ======== ======== Diluted earning per common share from continuing operations..................................... $ 1.02 $ 0.81 $ 0.73 Discontinued operations......................... (0.11) 0.39 0.45 Extraordinary items............................. (0.02) -- 0.16 -------- -------- -------- Diluted earnings per common share............... $ 0.89 $ 1.20 $ 1.34 ======== ======== ========

~~Accumulated~~ TABLE ~~Additional~~OF Other Treasury Total Common Equity Paid-In Retained Comprehensive Common Sharholders' Stock Rights Capital Earnings Income Stock Equity ------ ------ ---------- -------- ------------- -------- ------------ (In thousands except share data) Balance at September 30, 1998................... $1,029 $ -- $234,070 $260,833 $(20,688) $ -- $475,244 Comprehensive income: Net income............. -- -- -- 142,547 -- -- 142,547 Translation adjustment............ -- -- -- -- (9,905) -- (9,905) Unrealized gain on security available for sale.................. -- -- -- -- 266 -- 266 ------ ----- -------- -------- -------- ----- -------- Total comprehensive income................. -- -- -- 142,547 (9,639) -- 132,908 Shares issued in connection with 1,121,421 stock options................ 11 -- 10,680 -- -- -- 10,691 Tax benefit related to stock options.......... -- -- 6,501 -- -- -- 6,501 ------ ----- -------- -------- -------- ----- -------- Balance at September 30, 1999................... 1,040 -- 251,251 403,380 (30,327) -- 625,344 Comprehensive income: Net income............. -- -- -- 128,321 -- -- 128,321 Translation adjustment............ -- -- -- -- (26,773) -- (26,773) Unrealized gain on security available for sale.................. -- -- -- -- 2,124 -- 2,124 ------ ----- -------- -------- -------- ----- -------- Total comprehensive income................. -- -- -- 128,321 (24,649) -- 103,672 Shares issued in connection with 1,167,775 stock options................ 12 -- 12,587 -- -- -- 12,599 Tax benefit related to stock options.......... -- -- 7,901 -- -- -- 7,901 ------ ----- -------- -------- -------- ----- -------- Balance at September 30, 2000................... 1,052 -- 271,739 531,701 (54,976) -- 749,516 Comprehensive income: Cumulative effect of accounting change for cash flow hedge, net of tax effect of $1,687................ -- -- -- -- 2,530 -- 2,530 Net income............. -- -- -- 95,941 -- -- 95,941 Translation adjustment............ -- -- -- -- (3,611) -- (3,611) Adjustment to interest rate swap agreements upon sale, net of tax benefit of $984....... -- -- -- -- (1,475) -- (1,475) Amortization of gain on sale of interest rate swaps, net of tax benefit of $413....... -- -- -- -- (619) -- (619) Unrealized gain on security available for sale, net of tax effect of $251........ -- -- -- -- 377 377 ------ ----- -------- -------- -------- ----- -------- Total comprehensive income................. -- -- -- 95,941 (2,798) -- 93,143 Shares issued in connection with stock options................ 7 -- 6,624 -- -- -- 6,631 Tax benefit related to stock options.......... -- -- 3,301 -- -- -- 3,301 Distribution of the equity of Sybron Dental Specialties, Inc. on December 11, 2000, net of dividends of $142,880............... -- -- (27,027) -- 12,926 -- (14,101) ------ ----- -------- -------- -------- ----- -------- Balance at September 30, 2001................... $1,059 $ -- $254,637 $627,642 $(44,848) $ -- $838,490 ------ ----- -------- -------- -------- ----- --------CONTENTS

Year Ended September 30, ------------------------------- 2001 2000 1999 --------- --------- --------- (In thousands) Cash flows from operating activities: Net income...................................... $ 95,941 $ 128,321 $ 142,547 Adjustments to reconcile net income to net cash provided by operating activities Discontinued operations........................ 11,824 (41,597) (47,965) Depreciation................................... 33,411 29,336 24,105 Amortization................................... 44,672 37,251 24,890 (Gain) loss on sale of property, plant and equipment..................................... (4,784) 79 (39) Provision for losses on doubtful accounts...... (7) 863 907 Inventory provisions........................... 4,604 (833) 706 Deferred income taxes.......................... 3,954 10,258 17,876 Extraordinary items............................ 2,106 -- (17,171) Changes in assets and liabilities, net of effects of businesses acquired: Increase in accounts receivable............... (981) (15,537) (19,817) Increase in inventories....................... (28,935) (7,248) (12,646) (Increase) decrease in prepaid expenses and other current assets......................... (3,956) (7,200) 4,627 (Decrease) increase in accounts payable....... (2,096) (294) 2,436 Increase (decrease) in income taxes payable... 24,334 (1,768) (1,269) Increase (decrease) in other current liabilities.................................. 15,623 (6,211) (5,812) Increase (decrease) in accrued payroll and employee benefits............................ 578 (4,993) 7,212 (Decrease) increase in restructuring reserve.. (5,164) 1,744 (7,036) Net change in other assets and liabilities.... (8,950) (5,627) 1,551 --------- --------- --------- Net cash provided by operating activities... 182,174 116,544 115,102 --------- --------- --------- Cash flows from investing activities: Capital expenditures............................ (52,901) (42,493) (29,920) Securities purchased............................ -- -- (50,461) Proceeds from sales of property, plant and equipment...................................... 12,457 924 945 Proceeds from sale of NPT....................... -- (2,600) 85,841 Dividends received from SDS..................... 67,900 58,512 36,483 Capital contributions paid to SDS............... (4,623) (21,399) (16,210) Net change in advances and loans to SDS......... (2,782) 20,985 27,689 Distribution of the net equity of SDS........... (14,101) -- -- Net payment for businesses acquired............. (163,519) (207,153) (249,923) --------- --------- --------- Net cash used in investing activities......... (157,569) (193,224) (195,556) --------- --------- --------- Cash flows from financing activities: Proceeds from long-term debt.................... 703,448 -- 180,000 Principal payments on long-term debt............ (681,854) (450) (66,770) Securities lending agreement.................... -- -- 50,461 Proceeds from the exercise of stock options..... 6,631 12,599 10,691 Financing fees paid............................. (6,721) -- (4,163) Proceeds from revolving credit facility......... 454,560 332,640 351,060 Principal payments on revolving credit facility....................................... (502,460) (274,320) (448,980) Other financing activities...................... (4,118) 7,190 6,093 --------- --------- --------- Net cash (used in) provided by financing activities................................... (30,514) 77,659 78,392 --------- --------- --------- Effect of exchange rate changes on cash and cash equivalents..................................... 2,690 (969) (146) --------- --------- --------- Net (decrease) increase in cash and cash equivalents..................................... (3,219) 10 (2,208) Cash and cash equivalents at beginning of year... 12,411 12,401 14,609 --------- --------- --------- Cash and cash equivalents at end of year......... $ 9,192 $ 12,411 $ 12,401 ========= ========= ========= Supplemental disclosures of cash flow information: Cash paid during the year for: Interest........................................ $ 37,132 $ 55,833 $ 41,718 --------- --------- --------- Income taxes.................................... $ 43,070 $ 42,412 $ 32,431 ========= ========= ========= Capital lease obligations incurred............... $ 104 $ 25 $ 457 ========= ========= ========= TO

~~2001~~ 2004 ~~2000~~ANNUAL ~~1999~~REPORT ~~-------~~ON ~~-------~~FORM 10------- (in thousands) Basic.............................................. 105,517 104,570 103,412 Effect of assumed conversion of employee stock options........................................... 2,555 2,233 3,158 ------- ------- ------- Diluted............................................ 108,072 106,803 106,570 ======= ======= =======K

2001 2000 --------- -------- Raw materials and supplies............................... $ 84,802 $ 59,178 Work in process.......................................... 25,974 29,848 Finished goods........................................... 56,660 52,753 --------- -------- $ 167,436 $141,779 ========= ========


		Page

PART I
1	Business		2
2	Properties		3
3	Legal Proceedings		4
4	Submission of Matters to a Vote of Security Holders		5
PART II
5	Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities		6
6	Selected Financial Data		6
7	Management’s Discussion and Analysis of Financial Condition and Results of Operations		6
7A	Quantitative and Qualitative Disclosures About Market Risk		10
8	Financial Statements and Supplementary Data		12
9	Changes in and Disagreements With Accountants on Accounting and Financial Disclosure		45
9A	Controls and Procedures		45
9B	Other Information		45
PART III
10	Directors and Executive Officers of the Registrant		45
11	Executive Compensation		45
12	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters		45
13	Certain Relationships and Related Transactions		45
14	Principal Accountant Fees and Services		46
PART IV
15	Exhibits and Financial Statement Schedules		47
Signatures			48
EX-23.1 CONSENT OF DELOITTE AND TOUCHE LLP
EX-23.2 CONSENT OF KPMG LLP
EX-31.1 SECTION 302 CERTIFICATION OF CEO
EX-31.2 SECTION 302 CERTIFICATION OF CFO
EX-32.1 SECTION 906 CERTIFICATION OF CEO
EX-32.2 SECTION 906 CERTIFICATION OF CFO

~~2001 2000 1999 ------- ------- ------- Income from continuing operations................ $70,868 $57,601 $49,981 Extraordinary items.............................. (~~1,359) -- 15,828 Discontinued operations.......................... 435 28,339 30,930 Shareholders' equity for unrealized gain on security available for sale..................... 251 (1,420) (173) Shareholders' equity for cumulative effect of accounting changes for cash flow hedge.......... 1,687 -- -- Shareholders' equity for interest rate swap agreements...................................... (1,397) -- -- Shareholders' equity for compensation expense for tax purposes in excess of amounts recognized for financial reporting purposes.................... (3,301) (7,901) (6,501) ------- ------- ------- $67,184 $76,619 $90,065 ======= ======= =======

CurrentTable Deferredof Total -------- -------- ------- Year ended September 30, 2001: U.S., state and local.......................... $ 57,654 $ 3,296 $60,950 Foreign........................................ 9,260 658 9,918 -------- ------- ------- $ 66,914 $ 3,954 $70,868 ======== ======= ======= Year ended September 30, 2000: U.S., state and local.......................... $ 42,664 $ 8,401 $51,065 Foreign........................................ 4,679 1,857 6,536 -------- ------- ------- $ 47,343 $10,258 $57,601 ======== ======= ======= Year ended September 30, 1999: U.S., state and local.......................... $ 30,294 $14,700 $44,994 Foreign........................................ 1,811 3,176 4,987 -------- ------- ------- $32,105 $17,876 $49,981 ======== ======= =======Contents

~~2001 2000 1999 -------- -------- -------- United States~~ PART I................................... $149,946 $123,422 $111,930 Foreign......................................... 30,793 20,903 15,462 -------- -------- -------- Income before income taxes, discontinued operations and extraordinary items............. $180,739 $144,325 $127,392 ======== ======== ========

~~2001~~Item ~~2000 1999 ------- ------- ------- Computed "expected" tax expense~~1.~~.................~~ $63,259 $50,514 $44,587 Increase (reduction) in income taxes resulting from: Change in beginning of year valuation allowance for deferred tax assets allocated to income tax expense......................................... (21) (277) Amortization of goodwill......................... 4,255 3,931 2,332 State and local income taxes, net of Federal income tax benefit.............................. 6,286 3,898 3,077 Foreign income taxed at rates lower than U.S. Federal income.................................. (860) (836) (561) Foreign tax credits utilized in excess of U.S. tax on foreign earnings......................... 205 512 Other, net....................................... (2,072) (90) 311 ------- ------- ------- $70,868 $57,601 $49,981 ======= ======= =======Business

~~2001~~ Apogent ~~2000~~Technologies ~~1999~~Inc. ~~------~~(“Apogent”, the ~~-------~~“Company” ~~-------~~or ~~Deferred~~“we”) ~~tax~~is ~~(benefit)/expense~~a ~~(exclusive~~leading developer and manufacturer of ~~the~~products ~~effects~~for ofthe ~~other~~scientific research ~~components~~and ~~listed~~clinical ~~below)~~laboratory markets.~~.......~~ $3Our customers include distributors,~~651~~ ~~$10~~pharmaceutical and biotechnology companies,~~038~~ clinical, ~~$18~~academic,~~388~~ ~~Increase~~research ~~(decrease)~~and inindustrial ~~the~~laboratories, ~~valuation~~and original ~~allowance~~equipment ~~for~~manufacturers. ~~deferred~~We ~~tax~~manufacture ~~assets..............................~~most ~~303~~of ~~220~~the products ~~(512)~~we ~~------~~sell ~~-------~~at ~~-------~~over ~~$3,954~~120 facilities ~~$10,258~~worldwide. ~~$17,876~~We ~~======~~have approximately ~~=======~~7,400 ~~=======~~full-time employees.

~~2001~~ Approximately ~~2000~~68% ~~---------~~of ~~--------~~our ~~Deferred~~fiscal ~~tax~~year ~~assets:~~2004 revenues ~~Inventories...........................................~~were $generated ~~5,143~~from $sales ~~3,560~~to ~~Compensation..........................................~~customers ~~2,369~~within ~~2,679~~the United ~~Sale/Leaseback........................................ 4~~States,~~427~~ ~~4,531~~with ~~Employee~~the ~~benefits.....................................~~remainder ~~826 1~~internationally,~~979~~ ~~Net operating loss carryforwards~~primarily Europe...................... 1,414 1,111 Warranty and other accruals........................... 6,428 8,347 --------- -------- Total gross deferred tax assets..................... 20,607 22,207 Less valuation allowance............................ (1,414) (1,111) --------- -------- Net deferred tax assets............................. 19,193 21,096 --------- -------- Deferred tax liabilities: Depreciation.......................................... (16,338) (16,928) Purchase accounting................................... (88,818) (74,474) Unrealized appreciation on securities available for sale................................................. (2,029) (1,593) Other................................................. (946) (860) --------- -------- Total deferred tax liabilities...................... (108,131) (93,855) --------- -------- Net deferred tax liability.......................... $ (88,938) $(72,759) ========= ========

~~Operating~~ On ~~Total Type of Company Acquired Date Sales Income Assets Acquisition ---------------- ---- ------ --------- ------ ----------- (in thousands) Clinical Diagnostics Vacuum Process Technologies~~August 2, ~~Inc.......~~2004 ~~Nov.~~we ~~2000~~completed ~~$3,977~~an approximately $4.0 billion ~~(19)~~combination ~~$1,097~~with ~~Asset~~Fisher Scientific ~~Disposable~~International ~~Glass Culture Tube Business of Kimble Glass,~~ Inc.~~.............~~ ~~April~~(“Fisher ~~2001~~Scientific”) ~~5,800~~in a ~~331~~ tax-~~- Asset Innovative Diagnostics~~free, ~~Inc..................... July 2001 1,300 163~~ stock-for-stock ~~Asset~~merger, ~~Disposable~~including ~~Glass~~the ~~Pasteur~~assumption ~~Pipette and Perfume Sampler Vial Product Line~~ of approximately ~~Kimble Glass Inc~~$1.~~....................~~0 billion ~~August 2001 2,000 400 -- Asset Latex Agglutination Product Line~~ of ~~Medtek~~our ~~Diagnostics~~debt ~~LLC~~by Fisher Scientific.~~........~~ ~~July~~Apogent ~~2001~~shareholders ~~220~~received ~~150 -- Asset Daniel Mirror Company~~0.~~...~~56 shares ~~September~~of Fisher ~~2001~~Scientific ~~6,800~~common ~~2,000~~stock ~~100~~for ~~Asset~~each ~~Labware~~share ~~and~~of ~~Life~~Apogent ~~Sciences~~common stock ~~BioRobotics~~they ~~Group Limited~~owned.~~................~~ ~~March~~Upon ~~2001~~completion ~~10,500~~of ~~2,500~~the 4merger,~~592~~ ~~Stock~~Apogent ~~Advanced~~became a ~~Biotechnologies Ltd..................... April 2001 21,500 6,700 14,265 Stock Mosaic Technologies Inc..................... July 2001 1,400 (747)~~ wholly--owned ~~Asset~~subsidiary ~~Chromatography Vial Product Line~~ of ~~Kimble~~Fisher ~~Glass, Inc~~Scientific.~~............. August 2001 7,200 1,300 -- Asset~~

~~Operating~~ The ~~Total Type of~~ Company ~~Acquired~~believes ~~Date~~the ~~Sales~~combination ~~Income~~of ~~Assets~~Apogent with ~~Acquisition~~Fisher ~~----------------~~Scientific ~~----~~will ~~-------~~result ~~--------- ------ ----------- (~~in ~~thousands)~~several ~~Labware and Life Sciences: Robbins Scientific Corporation............ October 1999 $19~~strategic benefits,~~601~~ $4,088 $9,876 Stock Versi Dry(R) product line of National Packaging Services Corporation............ February 2000 2,494 1,300 Asset Sun International....... February 2000 5,818 (270) 2,269 Asset Genevac Limited......... May 2000 10,624 1,082 4,165 Stock Genevac Inc............. May 2000 1,626 -- -- Stock Clinical Diagnostics Microm Laborgorate GmbH................... October 1999 20,676 1,112 7,907 Asset Lab Vision Corporation.. August 2000 7,487 1,146 4,426 Stock Consolidated Technologies, Inc...... March 2000 7,782 2,888 6,100 Asset Murex bacteriology latex agglutination product line of Abbott Laboratories........... August 2000 20,461 10,026 -- Asset The thyroid and coagulation product line of Axis Shield.... September 2000 4,507 2,174 -- Assetincluding:

~~Operating~~• ~~Total~~Strategic ~~Type~~position. ofThe ~~Company~~combination ~~Acquired~~of ~~Date~~Apogent’s ~~Sales~~and ~~Income~~Fisher ~~Assets~~Scientific’s ~~Acquisition~~complementary ~~----------------~~operations, ~~----~~expertise, ~~-------~~manufacturing ~~---------~~capabilities ~~-------~~and ~~-----------~~sales ~~(in thousands) Labware~~ and ~~Life~~services ~~Sciences:~~capabilities ~~InVitro~~should ~~Scientific~~position ~~Products,~~the ~~Inc..........~~combined ~~October~~company ~~1998~~to $provide ~~5,095~~its $customers ~~708~~with $innovative ~~1,897~~products ~~Assets~~and ~~Pacofin~~services ~~Intersep~~while ~~Filtration~~generating ~~Products~~increased ~~Business~~cash offlow ~~Pacofin,~~and ~~Ltd....................~~financial ~~November~~flexibility ~~1998~~to ~~902~~pursue ~~343~~additional ~~952~~growth ~~Assets~~and ~~Scientific~~acquisition ~~Resources, Inc~~opportunities.~~...................~~ ~~January~~• ~~1999~~Life-science ~~4,480~~market ~~165 1,043 Assets Molecular BioProducts, Inc~~position.~~...................~~ ~~January~~The ~~1999~~life-science ~~15,617~~footprint ~~4,217~~of ~~6,727~~the ~~Stock~~combined ~~Matrix~~company ~~Technologies~~will ~~Corporation............~~be ~~September~~substantially ~~1999~~larger ~~16,775~~than ~~1,313~~Apogent’s ~~8,419~~current ~~Stock~~life-science ~~Clinical Diagnostics: Corning Samco Corporation~~footprint.~~...........~~ ~~October~~• ~~1998~~Biopharma-production ~~22,996 2,316 15,690 Stock HistoScreen(TM)~~ and ~~Histogel(TM)~~diagnostic-reagent ~~product~~offering. ~~lines~~The combination of ~~Perk~~Fisher Scientific~~.............~~ ~~January~~and ~~1999~~Apogent ~~932~~will ~~254~~strengthen ~~227~~offerings ~~Assets~~in ~~Stahmer,~~biopharma-production ~~Weston~~and ~~& Co~~diagnostic-reagents., ~~Inc....................~~• ~~February~~Global ~~1999~~market ~~2,961~~presence. ~~(74)~~Apogent ~~873~~has ~~Stock~~manufacturing ~~System~~operations ~~Sales~~throughout ~~Associates,~~the ~~Inc....................~~world ~~August~~that ~~1999~~will ~~4,382~~complement ~~565~~and ~~1,810~~enhance ~~Assets~~Fisher ~~Novelty~~Scientific’s ~~Glass~~existing &worldwide ~~Mirror~~distribution ~~Co.,~~and ~~Inc~~supply network.~~..............~~ ~~February~~• ~~1999~~New ~~280~~products ~~(9)~~and ~~4,949 Assets Rascher & Betzold, Inc~~services.. ~~January~~The ~~1999~~combined ~~104~~company ~~(9)~~will ~~200~~have ~~Assets~~a ~~Microgenics~~substantially ~~Corporation............~~broader ~~June~~portfolio ~~1999~~of ~~37,165~~product ~~8,034~~offerings ~~25,573~~than ~~Stock~~Apogent ~~MicroTest,~~has ~~Inc..........~~now ~~July~~and ~~1999~~an ~~1,631~~enhanced ~~1,033~~worldwide ~~320~~distribution ~~Assets Bioreagent~~ and ~~ELISA~~sales ~~immunochemistry~~network. ~~product~~The ~~lines~~merger ofis ~~Genzyme~~also ~~Diagnostics............~~expected ~~July~~to ~~1999~~give ~~3,391~~the ~~2,465~~combined ~~434~~company ~~Assets~~a ~~Laboratory~~greater ~~Equipment:~~ability ~~Laboratory~~to ~~Devices,~~develop ~~Inc....................~~and ~~January~~market ~~1999~~competitive ~~940~~new ~~202~~products ~~273~~and ~~Assets~~services, ~~Stem~~enabling ~~Corporation~~it ~~Ltd....~~to ~~August~~attract ~~1999~~and ~~1,655~~maintain ~~714~~more ~~1,090~~customers ~~Stock~~worldwide.

~~Operating~~ The ~~Total~~merger ~~Type~~is being accounted for as a purchase business combination in accordance with Statement of ~~Company~~Financial Accounting ~~Acquired~~Standards ~~Date~~No. 141, ~~Sales~~“Business Combinations” ~~Income~~(“SFAS 141”). ~~Assets~~The ~~Acquisition~~financial statements ~~----------------~~included ~~----~~herein ~~-------~~reflect ~~---------~~the “push-~~-----~~down” method ~~-----------~~of (accounting, resulting in ~~thousands)~~a ~~Clinical~~new ~~Diagnostics:~~basis ~~Chromacol~~of ~~Limited,~~accounting ~~Epsom~~for the ~~Glass~~“successor” ~~Industries~~period beginning August 2, 2004.~~......~~ Information ~~October~~relating ~~2001~~to $all ~~9,900~~“predecessor” $periods prior ~~350~~to ~~$4,458~~the ~~Stock~~combination ~~Limited~~is ~~and~~presented ~~Amchro,~~using ~~Inc....................~~Apogent’s historical ~~Forefront~~basis ~~Diagnostics,~~of ~~Inc~~accounting.~~...................~~ ~~November~~To ~~2001~~assist ~~6,300~~in ~~1,700~~the ~~9,900~~comparability of ~~Stock~~our ~~Labware~~financial results and ~~Life~~discussions, ~~Sciences:~~results ~~Cosmotec~~of ~~Co.~~operations for ~~Ltd........~~the ~~October~~year ~~2001~~ended 10September 30,~~500~~ ~~2,500~~2004 --including ~~Stock~~results ~~Barden~~for the ~~Engineering......~~ten ~~October~~months ~~2001~~of ~~570~~the ~~130~~predecessor ~~150~~and ~~Asset~~two months of the successor and are designated as “combined.”

~~September~~ We ~~30,~~report ~~2000~~financial ~~-------------~~results ~~Cash.........................................................~~on $the ~~5,783~~basis ~~Net~~of ~~account~~two business ~~receivables......................................~~segments: ~~85,767~~a ~~Net~~research ~~inventories..............................................~~group ~~74,383 Other current assets......................................... 6,497 Advances~~ and ~~loans~~a toclinical ~~Sybron International~~group................... 77,762 Property plant and equipment--net............................ 55,326 Intangible assets............................................ 220,705 Other assets................................................. 6,967 Current portion of long term debt............................ (21,761) Accounts payable............................................. (11,351) Income taxes payable......................................... (5,680) Accrued liabilities.......................................... (27,859) Deferred income taxes--net................................... (6,252) Long term debt............................................... (298,482) Other liabilities............................................ (8,835) --------- $ 152,970 =========

~~2001~~ Sales ~~2000~~from ~~----------~~businesses ---------- Land and land improvements......................... $ 13,067 $ 12,813 Buildings and building improvements................ 102,856 94,556 Machinery and equipment............................ 291,564 259,112 Construction in ~~progress...........................~~the ~~18,755~~research 17,444 ---------- ---------- 426,242 383,925 Less: Accumulated depreciation..................... (202,555) (175,831) ---------- ---------- $ 223,687 $ 208,094 ========== ========== 7. Intangible Assets Intangible assets at September 30, 2001 and 2000 are as follows: 2001 2000 ---------- ---------- Excess cost over net asset values acquired (goodwill)........................................ $1,086,323 $ 989,012 Proprietary technology............................. 109,376 48,302 Trademarks......................................... 58,894 45,409 Other.............................................. 74,587 71,444 ---------- ---------- 1,329,180 1,154,167 Less: Accumulated amortization..................... (188,846) (146,014) ---------- ---------- $1,140,334 $1,008,153 ========== ========== The increase in intangible assets from 2000 to 2001 was primarily due to acquisitions group accounted for asapproximately ~~purchases~~54% ~~net~~ of ~~removal~~our oftotal ~~fully amortized intangible assets~~sales. 8.Businesses in ~~Long-Term~~the ~~Debt~~research ~~Long-term~~group ~~debt~~engage atin ~~September~~the 30manufacture, ~~2001~~ distribution and ~~2000~~sale ~~consists~~ of ~~the~~products ~~following:~~primarily ~~2001~~to ~~2000~~the ~~----------~~research ~~----------~~and ~~Term~~clinical ~~Loan~~life science ~~Facility~~markets.~~................................~~ $Applications --of $these ~~380,920~~products ~~Revolving~~include ~~Credit~~general laboratory ~~Facility..........................~~uses ~~208,500~~as ~~256,400~~well 8%as ~~Senior~~genetic ~~Notes~~research, ~~net of discount................... 323~~protein-based research,~~580~~ high--throughput ~~Sale/Leaseback~~screening ~~Obligation..........................~~for ~~11,734~~drug 12discovery,~~024~~ ~~Sellers' Notes..................................... 103~~cell culture,~~685~~ ~~30,600~~filtration ~~Capital leases~~ and other~~...........................~~ ~~9,931~~liquid ~~3,792 ---------- ---------- 657,430 683,736 Less: Current portion of long-term debt~~handling.~~...........~~ ~~(73,642)~~In ~~(34~~addition,~~327)~~ businesses ~~----------~~in ~~----------~~the $research ~~583,788~~group ~~$ 649~~manufacture,~~409~~ ~~==========~~distribute ~~==========~~and sell ~~Securities~~laboratory ~~Lending~~equipment ~~Agreement.......................~~used $by 55medical,~~072~~ $pharmaceutical ~~54,444~~and scientific ~~========== ==========~~laboratories.

Fiscal ------ 2002............................................................. $ 73,642 2003............................................................. 40,704 2004............................................................. 511 2005............................................................. 209,063 2006............................................................. 645 Thereafter....................................................... 332,865 --------- $ 657,430 =========2

FiscalTable Capital Operating ------ ------- --------- 2002..................................................... $ 372 $ 9,602 2003..................................................... 204 8,870 2004..................................................... 114 7,255 2005..................................................... 13 5,806 2006..................................................... -- 4,794 Thereafter............................................... -- 17,650 ----- ------- $ 703 $53,977 ======= Less amounts representing interest....................... 79 ----- Present value of net minimum lease payments.............. 624 Less current portion..................................... 320 ----- Long-term obligations under capital leases............... $ 304 =====Contents

~~2001~~ Products ~~2000~~manufactured ~~----~~by ~~----~~businesses ~~Discount~~in ~~rate..................................................~~the research ~~7.75%~~group ~~8.0%~~include ~~Rate~~reusable ofplastic ~~increase~~and glass products; disposable plastic and glass products; products for critical packaging applications; environmental and safety containers; liquid handling automation products; glass liquid sample vials and seals used in ~~compensation~~various ~~levels........................~~applications; ~~4.0%~~heating, ~~4.0%~~cooling, shaking, ~~Expected~~stirring, ~~long-term~~mixing ~~rate~~and oftemperature ~~return~~control oninstruments; and ~~assets....................~~water ~~10.0%~~purification 10systems.0%

~~2001~~ Sales ~~2000~~from ~~----~~businesses ~~----~~in ~~Discount~~the ~~rate..................................................~~clinical ~~7.75~~group accounted for approximately 46% 8of our total sales.0% ~~Average~~Our ~~increase~~clinical group engages in ~~medical~~the ~~costs~~manufacture and sale of products primarily to the clinical and commercial laboratory market. These products are used in a number of in vitro diagnostic applications, including specimen collection, specimen transportation, drug testing, therapeutic drug monitoring and infectious disease detection.~~............................~~ 5Other applications include human tissue research and human cell research, with an emphasis on cancer applications.5% Products 5manufactured and sold by businesses in the clinical group include microscope slides, cover glass, and glass tubes and vials; stains and reagents; instrumentation for human tissue and cell research; diagnostic test kits; sample vials used in diagnostic testing; culture media; diagnostic reagents; and other products used in detecting and/or monitoring the existence of infectious diseases and conditions, therapeutic drugs and drugs of abuse.5%

~~Pension~~ We ~~Benefits~~have ~~Other~~several ~~Benefits~~registered ~~-----------------~~and ~~----------------~~unregistered service ~~2001~~marks ~~2000~~and ~~2001~~trademarks ~~2000~~for ~~--------~~our ~~------- ------- ------- Change in benefit obligations: Obligations at beginning of year~~products.~~.......~~ $Some 51,009 $44,275 $ 4,457 $ 5,556 Service cost............................ 2,125 2,032 13 12 Interest cost........................... 3,981 3,691 298 399 Actuarial (gain) loss................... 8,603 3,129 2,475 (68) Benefit payments........................ (2,548) (2,118) (1,451) (1,442) -------- ------- ------- ------- Obligations at end of ~~year..............~~our $more significant ~~63,170~~marks ~~$51,009~~include ~~$ 5~~Nalgene,~~792~~ ~~$ 4~~Nunc,~~457~~ ~~Change in fair value of plan assets: Fair value of plan assets at beginning of year................................ $ 50,483 $44,898 $~~ Lab-~~- $ -- Actual return on plan assets............ 1~~Line,~~250~~ 6Barnstead Thermolyne,~~463~~ ~~-- -- Employer contributions.................. 2~~Abgene,~~692~~ 1Genevac,~~240~~ --Erie ~~-- Benefit payments........................ (2~~Scientific,~~624)~~ (2Remel,~~118)~~ Richard--Allen ~~-- -------- ------- ------- ------- Fair value of plan assets at end of year................................... $ 51~~Scientific,~~801~~ ~~$50,483~~Microgenics $and --Samco ~~$ -- Funded Status: Funded status at end of year............ $(11~~Scientific,~~369)~~ among ~~$ (526) $(5,792) $(4,457) Unrecognized transition (asset) obligation~~others.~~............................~~ ~~(6)~~Registered 6trademarks --generally --can ~~Unrecognized~~have ~~prior service cost......... 145 144 -- -- Unrecognized (gain) loss................ 5~~perpetual life,~~565~~ ~~(6,869)~~provided ~~2,721~~they ~~245~~are ~~Remaining~~renewed ~~excess~~on ofa ~~fair~~timely ~~value~~basis ofand ~~plan~~continue to ~~assets~~be ~~over~~used ~~projected~~properly ~~benefit obligation recognized~~ as ~~a result of the 1987 acquisition of Sybron Corporation........ -- 1~~trademarks,~~869~~ --subject --to -------- ------- ------- ------- Net amount recognized at measurement date..................................... (5,665) (5,376) (3,071) (4,212) Employer contribution paid after measurement date......................... -- 167 -- -- -------- ------- ------- ------- Net amount recognized at end of year...... $ (5,665) $(5,209) $(3,071) $(4,212) ======== ======= ======= ======= The following table provides the ~~amounts~~rights recognized in the Company's consolidated balance sheets: Pension Benefits Other Benefits ----------------- ---------------- 2001 2000 2001 2000 -------- ------- ------- ------- Prepaid benefit cost...................... $ 67 $ 188 $ -- $ -- Accrued benefit liability................. (5,732) (7,433) (3,071) (4,212) Remaining excess of third ~~fair~~parties ~~value~~to ofseek ~~plan~~cancellation ~~assets over projected benefit obligation recognized as a result~~ of the ~~1987 acquisition of Sybron Corporation~~marks.~~.......~~ --Raw ~~1,869~~materials and --supplies --for ~~--------~~our ~~-------~~product ~~-------~~offerings ~~-------~~are ~~Net~~generally ~~amount~~available in ~~recognized~~adequate ~~at measurement date~~quantities..................................... (5,665) (5,376) (3,071) (4,212) Employer contribution paid after measurement date......................... -- 167 -- -- -------- ------- ------- ------- Net amount recognized at September 30..... $ (5,665) $(5,209) $(3,071) $(4,212) ======== ======= ======= =======

~~Pension~~ We ~~Benefits~~compete ~~Other~~with ~~Benefits~~other ~~-------------------------~~manufacturers ~~--------------~~as ~~2001~~well ~~2000 1999 2001 2000 1999 ------- ------- ------- ---- ---- ---- Service cost~~as distributors.~~.......................~~ $We ~~2,125~~face $a ~~2,032~~variety ~~$ 2,818 $ 13 $ 12 $ 28 Interest cost....................... 4,026 3,691 3,435 298 399 557 Expected return on plan assets...... (4,940) (4,509) (4,123) -- -- -- Amortization~~ of ~~transition~~competitors ~~(asset)~~that ~~obligation.........................~~manufacture a 12comparable ~~107~~portfolio ~~108 -- -- -- Amortization~~ of ~~prior service cost~~products.. ~~(1)~~We ~~(52)~~compete ~~(52)~~on --a --basis ~~-- Amortization~~ of innovative ~~net~~technologies, ~~(gain)~~availability ~~loss.....~~and ~~(110) 65 126 -- -- 66 ------- ------- ------- ---- ---- ---- Net periodic benefit cost~~quality.~~..........~~ $We ~~1,112~~believe our $brand ~~1,334~~recognition $provides ~~2,312~~us ~~$311~~competitive ~~$411 $651 ======= ======= ======= ==== ==== ====~~advantage.

~~Fixed~~ For ~~Lease~~information ~~Shut-down~~regarding ~~Severance~~business ~~Inventory Assets Commitments Costs Tax (a) (b) (b) (c) (c) (d) Other Total --------- --------- ------ ----------- --------- ------ ----- ------- 2000 Restructuring charge................. $5~~segments,~~500~~ foreign ~~$2,100~~and ~~$1,000~~domestic ~~$500~~operations ~~$300~~and ~~$1,000~~export ~~$900 $11~~sales,~~300~~ ~~2000~~refer ~~Cash~~to “Item 8 — ~~payments......~~Financial ~~1,100~~Statements --and Supplementary --Data — --Note 14 — ~~-- -- -- 1~~Segment Information,~~100~~” ~~2000~~which ~~Non-cash~~is ~~charges...~~incorporated --herein ~~2,100~~by ~~1,000 -- -- -- 800 3,900 ------ ------ ------ ---- ---- ------ ---- ------- September 30, 2000 balance~~reference................ $4,400 $ -- $ -- $500 $300 $1,000 $100 $ 6,300 Adjustments (e)......... 600 600 2001 Cash payments...... 3,800 -- -- 200 200 1,000 -- 5,200 2001 Non-cash charges... -- -- -- 100 -- 100 200 -- ------ ------ ------ ---- ---- ------ ---- ------- September 30, 2001 balance................ $1,200 $ -- $ -- $300 $ -- $ -- $ -- $ 1,500 ====== ====== ====== ==== ==== ====== ==== =======

~~Lease~~ For ~~Inventory~~information ~~Fixed~~and ~~Severance~~cautionary ~~Payments~~factors ~~Write~~regarding forward-~~off~~looking ~~Assets~~statements ~~Goodwill~~contained ~~(a)~~in ~~(b)~~this ~~(c) (c) (d) Total --------- -------- --------- ------ -------- ------ 1998 Restructuring Charge................... $3~~report,~~400~~ ~~$200~~see Item 7 — ~~$1,800~~“Management’s ~~$1,000~~Discussion ~~$2,100~~and Analysis ~~$8,500~~of ~~1998~~Financial ~~Cash~~Condition ~~Payments........~~and ~~900~~Results ~~100~~of ~~-- -- -- 1,000 1998 Non-Cash Charges~~Operations..... -- -- 1,800 1,000 2,100 4,900 ------ ---- ------ ------ ------ ------ September 30, 1998 balance.................. $2,500 $100 $ -- $ -- $ -- $2,600 1999 Cash Payments........ 1,900 100 -- -- -- 2,000 Adjustments(a)............ 300 -- -- -- -- 300 ------ ---- ------ ------ ------ ------ September 30, 1999 balance.................. $ 900 $-- $ -- $ -- $ -- $ 900 2000 Cash Payments........ 700 -- -- -- -- 700 ------ ---- ------ ------ ------ ------ September 30, 2000 balance.................. $ 200 $-- $ -- $ -- $ -- $ 200 2001 Cash payments........ 200 -- -- -- -- 200 ------ ---- ------ ------ ------ ------ September 30, 2001 balance.................. $ -- $-- $ -- $ -- $ -- $ -- ====== ==== ====== ====== ====== ======”

~~Number~~Item ~~of Weighted Average Shares Price Per Share Exercise Price ---------- ----------------- ---------------- Options outstanding at September 30, 1998~~2.~~......................~~ 9,398,028 $ 5.99 -- $24.50 $16.14 Granted....................... 896,748 $25.31 -- $26.75 $26.18 Exercised..................... (1,121,421) $ 5.99 -- $24.34 $ 9.53 Canceled and available for reissue...................... (145,584) $11.55 -- $26.75 $20.86 ---------- Options outstanding at September 30, 1999....................... 9,027,771 $ 6.06 -- $26.75 $17.88 Granted....................... 764,040 $22.00 -- $32.00 $24.05 Exercised..................... (1,167,775) $ 6.06 -- $26.75 $10.79 Canceled and available for reissue...................... (230,378) $11.54 -- $26.75 $24.13 ---------- Options outstanding at September 30, 2000....................... 8,393,658 $ 6.36 -- $32.00 $19.27 Effect on outstanding options from Spin-Off of SDS......... 1,449,749 Granted....................... 953,443 $21.58 -- $24.52 $22.69 Exercised..................... (706,522) $ 5.10 -- $21.46 $ 9.29 Canceled and available for reissue...................... (151,880) $12.31 -- $25.67 $20.47 ---------- Options outstanding at September 30, 2001....................... 9,938,448 $ 5.10 -- $24.84 $17.10 ========== Options exercisable at September 30, 2001....................... 6,437,559 $ 5.10 -- $24.84 $14.48 ========== Options available for grant at September 30, 2001............. 793,653 ==========Properties

~~Options~~ Our ~~Outstanding~~principal ~~and~~executive ~~Options~~offices ~~Outstanding~~are ~~Exercisable~~located ------------------------------------------- -------------------------- Range of Weighted Average Exercise Number of Remaining Weighted Average Number of Weighted Average Price Shares Contractual Life Exercise Price Shares Exercise Prices -------- --------- ---------------- ---------------- --------- ---------------- $2.57 -- $5.13... 50in Hampton,~~135~~ ~~1.3~~New ~~$ 5~~Hampshire.10 ~~501,135~~We $believe ~~5.10~~that ~~$5.14~~our --property ~~$7.70...~~and equipment ~~2,232,767~~are ~~3.1~~generally $well ~~6.87 2~~maintained,~~232,767~~ $in ~~6.87~~good ~~$7.71~~operating condition --and ~~$10.28..~~adequate ~~296,982~~for ~~4.2~~our $present 9needs.26 296,982 $ 9.26 $10.29 -- $12.83.. 181,962 5.0 $12.31 181,962 $12.31 $12.84 -- $15.40.. 2,493 5.6 $13.61 2,493 $13.61 $15.41 -- $17.97.. 31,165 8.2 $17.65 7,790 $17.65 $17.98 -- $20.54.. 4,547,405 6.7 $19.50 3,252,389 $19.54 $20.55 -- $23.10.. 1,033,127 8.3 $21.48 386,864 $21.43 $23.11 -- $25.67.. 1,562,412 9.3 $24.26 26,177 $24.84

2001 2000 1999 --------- --------- --------- Pro forma net income...................... $ 77,729 $ 110,498 $ 124,029 Basic pro forma earnings per share........ 0.74 1.06 1.20 Diluted pro forma earnings per share...... 0.72 1.04 1.16 The fair value of the Company's stock options used to compute pro forma net income and earnings per share disclosures is the estimated present value at grant date using the Black-Scholes option pricing model with the following ~~weighted~~table ~~average~~identifies ~~assumptions:~~our ~~2001~~principal facilities, ~~2000~~which ~~1999~~are ~~---------~~owned ~~---------~~unless ~~---------~~otherwise Volatility................................ 35.80% 35.0% 28.8% Risk-free interest rate................... 5.66% 6.50% 4.99% Expected holding period................... 7.8 years 7.8 years 7.7 years Dividend yield............................ 0 0 0indicated:

~~Labware~~Rockwood, ~~Clinical and Life Laboratory Other Diagnostics Sciences Equipment Eliminations~~ Tennessee(ab) ~~Total ----------- -------- ---------- ------------ ------- --------- 2001 Revenues: External customer..... $477~~Manufacturing,~~233~~ ~~$400~~Warehouse,~~823~~ ~~$106,409~~and $Office ~~984~~Portsmouth,~~465~~ ~~Intersegment..........~~New ~~6,973 1,273 428~~ Hampshire(~~8,674~~a) ~~-- Total revenues...... 484~~Manufacturing,~~206~~ ~~402~~Warehouse,~~096~~ ~~106,837~~and ~~(8,674)~~Office ~~984~~Braunschweig,~~465~~ ~~Gross~~Germany ~~profit............ 228~~Manufacturing,~~009~~ ~~205~~Warehouse,~~079~~ ~~45,188 478,276 Selling general~~ and ~~administrative.........~~Office ~~109~~Romont,~~566~~ ~~114,685~~Switzerland 23Manufacturing,~~045~~ 6Warehouse,~~264~~ ~~253,560~~and ~~Operating~~Office ~~income........ 118~~Naugatuck,~~446~~ ~~90,388~~Connecticut 22Manufacturing,~~146~~ (6Warehouse,~~264)~~ ~~224,716 Depreciation~~ and ~~amortization...........~~Office 38Budapest,~~869~~ ~~33,237~~Hungary 4Manufacturing,~~932~~ 1Warehouse,~~044~~ ~~78,082 Interest income......... 649 315 24 55 1,043 Interest expense........ -- Segment assets.......... 887,356 749,050 128,169 70,563 1,835,138 Expenditures for property, plant~~ and ~~equipment..............~~Office ~~25,673~~San 25Fernando,~~137~~ ~~2,150~~California ~~182 53~~Manufacturing,~~142~~ ~~2000 Revenues: External customer..... 413~~Warehouse,~~565~~ 347,437 102,573 863,575 Intersegment.......... 5,669 1,087 969 (7,725) -- Total revenues...... 419,234 348,524 103,542 (7,725) 863,575 Gross profit............ 199,571 179,019 43,540 422,130 Selling general and ~~administrative.........~~Office 96Holtsville,~~706~~ ~~100,365~~New ~~22,316~~York 9Manufacturing,~~754~~ ~~229~~Warehouse,~~141~~ ~~Operating income........ 102,506 79,095 21,142 (9,754) 192,989 Depreciation~~ and ~~amortization...........~~Office 31Baltimore,~~866~~ ~~27962~~Maryland ~~4,753~~Manufacturing 2,006 66,587 Interest income......... 473 217 14 127 831 Interest expense........ 135 933 1 47,615 48,684 Segment assets.......... 796,955 428,044 88,439 478,926 1,792,364 Expenditures for property, plant and ~~equipment..............~~Office 19Kalamazoo,~~038~~ ~~21,645 1,726 84 42,493 1999 Revenues: External customer..... 342,529 268,788 103,720 715,037 Intersegment.......... 4,550 975 836~~ Michigan(~~6,361~~a) ~~-- Total revenues...... 347~~Manufacturing,~~079~~ ~~269~~Warehouse,~~763~~ ~~104,556~~and ~~(6,361)~~Office ~~715~~Indianapolis,~~037~~ ~~Gross~~Indiana ~~profit............~~Manufacturing ~~160,357 136,018 45,583 341,958 Selling general~~ and ~~administrative.........~~Warehouse 75Lenexa,~~030~~ ~~68,600 21,950 7,252 172,832 Operating income........ 87,587 67,404 21,387~~ Kansas(~~7,252~~b) ~~169~~Manufacturing,~~126~~ ~~Depreciation~~Warehouse, and ~~amortization...........~~Office ~~24,004~~Lake 18Charles,~~768~~ ~~4,486~~Louisiana ~~1,737~~Manufacturing ~~48,995 Interest income......... 145 183 12 421 761 Interest expense........ 807 233 45 38,988 40,073 Segment assets.......... 707,911 465,648 131,942 234,474 1,539,975 Expenditures for property, plant~~ and ~~equipment.............. 11,912 15,598 2,462 405 30,377~~Office

2001 2000 1999 --------- -------- -------- Net Sales: United States: Customers...................................... $ 727,310 $643,188 $543,846 Inter-geographic............................... 64,035 55,616 43,777 --------- -------- -------- 791,345 698,804 587,623 --------- -------- -------- Europe: Customers...................................... 159,869 133,437 103,097 Inter-geographic............................... 38,271 28,059 23,653 --------- -------- -------- 198,140 161,496 126,750 --------- -------- -------- All other areas: Customers...................................... 97,286 86,950 68,094 Inter-geographic............................... 7,893 8,934 7,798 --------- -------- -------- 105,179 95,884 75,892 Inter-geographic sales........................... (110,199) (92,609) (75,228) --------- -------- -------- Total net sales................................ $ 984,465 $863,575 $715,037 ========= ======== ======== Net Property: United States.................................. 177,834 $168,472 $147,802 Europe......................................... 44,911 38,766 39,174 All other areas................................ 942 856 783 --------- -------- -------- Total net property............................. $ 223,687 $208,094 $187,759 ========= ======== ========3

FischerTable Scientificof VWR -------------------------- ------- 2001 2000 1999 1999 -------- -------- -------- ------- Clinical Diagnostics........................ $ 35,214 $ 36,897 $ 30,720 $ 8,186 Labware and Life Sciences................... 61,579 60,818 55,514 53,391 Laboratory Equipment........................ 23,937 22,189 20,119 17,044 -------- -------- -------- ------- Total..................................... $120,730 $119,904 $106,353 $78,621 ======== ======== ======== =======Contents

~~First Second Third Forth Total Quarter Quarter Quarter Quarter Year 2001 -------- -------- -------- -------- -------- Net sales..................... $220~~Fremont,~~758~~ ~~$245,104~~California(a) ~~$260~~Manufacturing,~~396~~ ~~$258~~Warehouse,~~207~~ ~~$984,465~~and ~~========~~Office ~~========~~East ~~======== ======== ======== Gross profit.................. $105~~Providence,~~953~~ ~~$120,513~~Rhode ~~$125,501~~Island(a) ~~$126~~Manufacturing,~~309~~ ~~$478~~Warehouse,~~276~~ ~~========~~and ~~========~~Office ~~======== ======== ======== Income from continuing operations................... 22~~Walldorf,~~187~~ ~~30,190~~Germany(a) 28Manufacturing,~~103~~ 29Warehouse,~~391~~ ~~109,871~~and ~~Discontinued~~Office ~~operation........ (10~~Kent,~~986)~~ England(~~838~~a) --Manufacturing, ~~-- (11~~Warehouse,~~824)~~ ~~Income~~and ~~before~~Office ~~extraordinary~~Auburn, ~~items........................~~Alabama 11Manufacturing,~~201~~ 29Warehouse,~~352~~ ~~28,103~~and ~~29,391~~Office 98Penfield,~~047~~ ~~Extraordinary~~New ~~items...........~~ York(~~745~~a) ~~-- (1~~Manufacturing,~~361)~~ ~~-- (2~~Warehouse,~~106)~~ ~~--------~~and ~~--------~~Office ~~--------~~Naperville, ~~--------~~Illinois ~~--------~~Manufacturing, ~~Net~~Warehouse, ~~income....................~~and $Office 10Roskilde,~~456~~ $Denmark 29Manufacturing,~~352~~ ~~$ 26~~Warehouse,~~742~~ $and ~~29,391~~Office ~~$ 95~~Hudson,~~941~~ ~~========~~New ~~======== ======== ======== ======== Basic income per common share: Income from continuing operations................. $ 0.21 $ 0.29 $ 0.27 $ 0.28 $ 1.04 Discontinued operation......~~ Hampshire(~~0.10~~a) ~~(0.01)~~Manufacturing, --Warehouse, --and ~~(0.11)~~Office ~~Extraordinary~~Tijuana, ~~items.........~~ Mexico(~~0.01~~a) --Manufacturing, ~~(0.01)~~Warehouse, --and ~~(0.02)~~Office ~~Net~~San ~~income~~Diego, per common share...................... 0.10 0.28 0.25 0.28 0.91 Diluted income per common share: Income from continuing operations................. $ 0.21 $ 0.28 $ 0.26 $ 0.27 $ 1.02 Discontinued operation...... California(~~0.10~~a) ~~(0.01) -- -- (0.11) Extraordinary items......... (0.01) -- (0.01) -- (0.02) Net income per common share...................... 0.10 0.27 0.25 0.27 0.89 2000 Net sales..................... $204~~Manufacturing,~~883~~ ~~$218~~Warehouse,~~074~~ ~~$212,029~~and ~~$228,589~~Office ~~$863~~Surrey,~~575~~ ~~Gross~~England ~~profit.................. 100~~Manufacturing,~~091~~ ~~107~~Office,~~165~~ ~~105,409~~and ~~109,465~~Warehouse ~~422~~Dubuque,~~130~~ ~~Income~~Iowa(a) ~~from~~Manufacturing ~~continuing~~and ~~operations...................~~Office ~~20,461~~Melrose 25Park,~~340~~ ~~23,943~~Illinois ~~16,980~~Manufacturing ~~86,724~~and ~~Discontinued~~Office ~~operation........ 9~~Perinton,~~963~~ ~~13,635~~New ~~11,275~~York 6Manufacturing,~~724~~ 41Warehouse,~~597~~ ~~--------~~and ~~--------~~Office ~~--------~~Suffolk, ~~--------~~England(a) ~~-------- Net income.................... $ 30~~Manufacturing,~~424~~ ~~$ 38~~Warehouse,~~975~~ $and 35Office Petaluma,~~218~~ $California(a) 23Manufacturing,~~704~~ ~~$128~~Warehouse,~~321~~ ~~========~~and ======== ======== ======== ======== Basic income per common share: Income from continuing operations................. $ 0.20 $ 0.24 $ 0.23 $ 0.16 $ 0.83 Discontinued operation...... 0.09 0.13 0.11 0.07 0.40 Net income per common share...................... 0.29 0.37 0.34 0.23 1.23 Diluted income per common share: Income from continuing operations................. $ 0.20 $ 0.24 $ 0.22 $ 0.16 $ 0.81 Discontinued operation...... 0.09 0.13 0.11 0.06 0.39 Net income per common share...................... 0.29 0.37 0.33 0.22 1.20Office

As of September 30, 2001 ----------------------------------------------------------------- Non Apogent Guarantor Guarantor Technologies Subsidiaries Subsidiaries Eliminations Consolidated ------------ ------------ ------------ ------------ ------------ (~~In thousands~~a) ~~ASSETS ------ Current assets: Cash and cash equivalents~~Leased.~~..........~~ ~~$ 4,145 $ -- $ 10,699 $~~ (~~5,652~~b) $One ~~9,192~~property ~~Accounts receivable~~owned, ~~net...................~~one ~~-- 146,981 36,297 -- 183,278 Inventories, net~~leased....... 1,263 136,906 33,335 (4,068) 167,436 Net assets held for discontinued operations............ -- -- -- -- -- Other current assets... 15,010 13,458 5,969 (406) 34,031 ---------- ---------- -------- ----------- ---------- Total current assets.............. 20,418 297,345 86,300 (10,126) 393,937 Property, plant and equipment, net........ 9,553 169,032 45,102 -- 223,687 Intangible assets...... 7,003 913,651 219,680 -- 1,140,334 Deferred income taxes.. 6,147 -- -- -- 6,147 Investment in subsidiaries.......... 1,593,800 46,461 -- (1,640,261) -- Other assets........... 58,605 11,543 885 -- 71,033 ---------- ---------- -------- ----------- ---------- Total assets......... $1,695,526 $1,438,032 $351,967 $(1,650,387) $1,835,138 ========== ========== ======== =========== ========== LIABILITIES AND SHAREHOLDERS' EQUITY ------------------------------------ Current liabilities: Accounts payable....... $ 787 $ 46,802 $ 11,885 $ (5,652) $ 53,822 Advances and loans from SDS................... -- -- -- -- -- Current portion of long-term debt........ 378 33,450 36 -- 33,864 Income taxes payable... 33,432 -- 6,638 (1,323) 38,747 Accrued expenses and other current liabilities........... 33,784 28,603 14,968 -- 77,355 ---------- ---------- -------- ----------- ---------- Total current liabilities........... 68,381 108,855 33,527 (6,975) 203,788 ---------- ---------- -------- ----------- ---------- Long-term debt......... -- 623,543 23 -- 623,566 Securities lending agreement............. 55,072 -- -- -- 55,072 Deferred income taxes.. 74,411 20,778 12,031 -- 107,220 Other liabilities...... 3,231 2,453 1,318 -- 7,002 Net intercompany payable/(receivable).. 375,705 (599,911) 224,169 37 -- Commitments and contingent liabilities........... -- Shareholders' equity Preferred stock....... -- -- -- -- -- Common stock......... 1,059 -- -- -- 1,059 Equity rights........ -- -- -- -- -- Additional paid-in- capital............. 234,166 1,561,854 80,265 (1,621,648) 254,637 Retained earnings (deficit)........... 880,299 (279,540) 48,684 (21,801) 627,642 Other comprehensive income.............. 3,202 -- (48,050) -- (44,848) Treasury stock (at cost)............... -- -- -- -- -- ---------- ---------- -------- ----------- ---------- Total shareholders' equity............ 1,118,726 1,282,314 80,899 (1,643,449) 838,490 ---------- ---------- -------- ----------- ---------- Total liabilities and shareholders' equity............ $1,695,526 $1,438,032 $351,967 $(1,650,387) $1,835,138 ========== ========== ======== =========== ==========

AsItem of September 30, 2000 ---------------------------------------------------------------- Non Apogent Guarantor Guarantor Technologies Subsidiaries Subsidiaries Eliminations Consolidated ------------ ------------ ------------ ------------ ------------ (In thousands) ASSETS ------ Current assets: Cash and cash equivalents........... $ 7,086 $ -- $ 7,902 $ (2,577) $ 12,411 Accounts receivable, net................... -- 146,564 27,021 -- 173,585 Inventories, net....... 1,187 120,399 24,020 (3~~,827) 141,779 Net assets held for discontinued operations~~.~~...........~~ ~~152,970~~Legal -- -- -- 152,970 Other current assets... 16,467 28,387 4,112 (19,176) 29,790 ---------- ---------- -------- --------- ---------- Total current assets.............. 177,710 295,350 63,055 (25,580) 510,535 Property, plant and equipment, net........ 8,840 162,431 36,823 -- 208,094 Intangible assets...... 2,922 895,583 109,648 -- 1,008,153 Deferred income taxes.. 12,563 (4,693) -- -- 7,870 Investment in subsidiaries.......... 813,152 51,069 -- (864,221) -- Other assets........... 52,154 3,914 1,644 -- 57,712 ---------- ---------- -------- --------- ---------- Total assets......... $1,067,341 $1,403,654 $211,170 $(889,801) $1,792,364 ========== ========== ======== ========= ========== LIABILITIES AND SHAREHOLDERS' EQUITY ------------------------------------ Current liabilities: Accounts payable....... $ 594 $ 37,361 $ 16,521 $ (2,577) $ 51,899 Advances and loans from SDS................... 77,762 -- -- -- 77,762 Current portion of long-term debt........ -- 34,252 75 -- 34,327 Income taxes payable... 34,117 -- 2,523 (20,036) 16,604 Accrued expenses and other current liabilities........... 17,331 29,782 13,434 -- 60,547 ---------- ---------- -------- --------- ---------- Total current liabilities........... 129,804 101,395 32,553 (22,613) 241,139 ---------- ---------- -------- --------- ---------- Long-term debt......... -- 649,383 26 -- 649,409 Securities lending agreement............. 54,444 -- -- -- 54,444 Deferred income taxes.. 70,388 14,793 7,867 93,048 Other liabilities...... 1,164 3,772 1,060 (1,188) 4,808 Net intercompany payable/(receivable).. (519,063) 463,622 55,232 209 -- Commitments and contingent liabilities Shareholders' equity Preferred stock....... -- -- -- -- -- Common stock.......... 1,052 -- -- -- 1,052 Equity rights......... -- -- -- -- -- Additional paid-in- capital.............. 271,739 786,251 77,970 (864,221) 271,739 Retained earnings (deficit)............ 1,055,421 (615,562) 93,830 (1,988) 531,701 Accumulated other comprehensive income............... 2,392 -- (57,368) -- (54,976) Treasury stock (at cost)................ -- -- -- -- -- ---------- ---------- -------- --------- ---------- Total shareholders' equity............... 1,330,604 170,689 114,432 (866,209) 749,516 ---------- ---------- -------- --------- ---------- Total liabilities and shareholders' equity............... $1,067,341 $1,403,654 $211,170 $(889,801) $1,792,364 ========== ========== ======== ========= ==========Proceedings

~~For~~ Nalge ~~the~~Nunc ~~Year Ended September 30~~International, ~~2001~~a ~~----------------------------------------------------------------~~subsidiary ~~Non~~in ~~Apogent~~our Research ~~Guarantor~~Group ~~Guarantor~~business ~~Technologies~~segment, ~~Subsidiaries~~has ~~Subsidiaries~~been ~~Eliminations~~identified ~~Consolidated~~as ~~------------~~a potentially ~~------------~~responsible ~~------------~~party ~~------------ ------------~~ (~~In thousands~~“PRP”) ~~Net~~at ~~sales...............~~the $ Aqua--Tech site ~~$859,022~~in ~~$179,100~~South ~~$(53,657)~~Carolina ~~$984,465 Cost of sales........... -- 455,950 103,650~~ (~~53,411)~~the ~~506,189~~ “Aqua-~~-------~~Tech ~~-------- -------- -------- -------- Gross profit.......... -- 403,072 75,450 (246~~Site”) ~~478,276~~with respect ~~Selling,~~to ~~general~~a ~~and~~previously ~~administrative~~owned ~~expenses~~facility.~~..............~~ ~~24,961~~An ~~183,718~~action ~~44,881~~was --conducted in ~~253,560~~1995 ~~--------~~at ~~--------~~the Aqua-~~-------~~Tech ~~--------~~Site ~~--------~~for ~~Operating~~the ~~income........~~removal ~~(24,961)~~of ~~219,354~~surface contaminants ~~30,569~~under ~~(246)~~the ~~224,716~~supervision ~~Other~~of ~~income~~the ~~(expense):~~Environmental Protection ~~Interest~~Agency ~~expense...... --~~ (~~48,773~~“EPA”) 75pursuant --to ~~(48,698)~~the Comprehensive ~~Other,~~Environmental ~~net............ 4~~Response,~~095~~ ~~1,510~~Compensation ~~(884) 4,721 -------- -------- -------- -------- -------- Income before income taxes, discontinued operations~~ and ~~extraordinary~~Liability Act ~~items....~~of ~~(20~~1980,~~866)~~ ~~172,091~~as ~~29,760~~amended (~~246~~“CERCLA”). ~~180,739~~Our ~~Income~~total ~~taxes............~~ expenses (~~7,798)~~including ~~67,115~~legal ~~11,606 (56~~fees) ~~70,868~~to ~~--------~~date ~~--------~~have ~~--------~~been ~~--------~~approximately ~~--------~~$170,000. The ~~Income~~site ~~from~~has ~~continuing~~been ~~operations~~placed ~~before~~by ~~extraordinary~~the ~~items....~~EPA ~~(13,068)~~on ~~104,976~~the ~~18,154~~federal ~~(190)~~National Priority ~~109,871~~List ~~Discontinued~~under ~~operations............. (11~~CERCLA,~~824)~~ --which --is --a ~~(11,824)~~prerequisite ~~--------~~to any federally-~~-------~~mandated ~~--------~~requirement ~~--------~~for long-~~-------~~term ~~Income~~remedial ~~before~~work ~~extraordinary~~at the ~~items....~~site ~~(24,892)~~under ~~104~~CERCLA,~~976~~ ~~18,154~~such ~~(190)~~as ~~98,047~~would ~~Extraordinary~~be ~~items.....~~involved --in ~~(2,106)~~soil --and groundwater --remediation. ~~(2,106)~~We ~~--------~~participated ~~--------~~with ~~--------~~a ~~--------~~PRP ~~--------~~group composed ~~Net~~of ~~income..............~~approximately ~~$(24,892)~~100 ~~$102,870~~parties $in ~~18,154~~an $agreement ~~(190)~~with $the EPA ~~95,941~~to ~~========~~undertake ~~========~~a ~~========~~remedial ~~========~~investigation ~~========~~and ~~For~~feasibility ~~the Year Ended September 30~~study, which ~~2000~~is ~~----------------------------------------------------------------~~now ~~Non~~being ~~Apogent~~used ~~Guarantor~~by ~~Guarantor~~the ~~Technologies~~EPA ~~Subsidiaries~~to ~~Subsidiaries~~determine ~~Eliminations~~what ~~Consolidated~~remedy, ~~------------~~if any, ~~------------~~should ~~------------~~be ~~------------~~required ~~------------~~at ~~(In~~the ~~thousands) Net sales~~site.~~..............~~ $There --has ~~$761,723~~been ~~$146,223~~no opposition ~~$(44,371)~~to ~~$863,575~~the ~~Cost~~proposed ofremedial ~~sales...........~~investigation --and feasibility ~~397~~study,~~009~~ ~~87,821~~and ~~(43,385)~~it ~~441,445~~was ~~--------~~adopted ~~--------~~in ~~--------~~the ~~--------~~Record ~~--------~~of ~~Gross~~Decision in ~~profit~~2004.~~.........~~ --The ~~364,714~~PRP ~~58,402~~group ~~(986)~~is ~~422,130~~negotiating ~~Selling,~~with ~~general~~EPA and ~~administrative expenses~~the U.S.~~.............~~ Justice ~~9,563~~Department ~~184,749~~over ~~34,829~~the ~~229,141~~conduct ~~--------~~of ~~--------~~this ~~-------- -------- -------- Operating income~~remedial work.~~.......~~ ~~(9,563)~~Total ~~179,965~~remediation ~~23,573~~costs ~~(986)~~are ~~192,989~~estimated ~~Other~~at ~~income (expense): Interest expense~~approximately $6 million.~~.....~~ ~~(78)~~Our ~~(43,888)~~share ~~(5,484)~~of --waste ~~(49,450)~~allegedly ~~Other,~~sent ~~net............~~to ~~776~~the ~~1,439~~site is ~~(1,429)~~reportedly ~~786~~not ~~--------~~more ~~--------~~than ~~--------~~1% ~~--------~~of ~~--------~~the ~~Income~~total ~~before~~waste ~~income taxes and discontinued operations~~sent.~~............~~ ~~(8,865)~~It ~~137,516~~is anticipated ~~16,660~~that ~~(986)~~our ~~144,325~~liability ~~Income~~in ~~taxes............~~this ~~(2,595)~~matter ~~51,859~~will ~~8,624~~be ~~(287)~~in proportion ~~57,601~~to ~~--------~~the ~~--------~~amount ~~--------~~of ~~--------~~reported ~~--------~~waste ~~Income~~we ~~from~~were ~~continuing~~deemed ~~operations~~to have sent.~~............~~ ~~(6,270)~~Even ~~85,657~~though ~~8,036~~CERCLA ~~(699)~~provides ~~86,724~~for ~~Discontinued~~joint ~~operations.............~~and 41several liability,~~597~~ --we --believe --that ~~41,597~~any ~~--------~~ultimate ~~--------~~liability ~~--------~~to ~~--------~~us ~~--------~~will ~~Net~~not have ~~income..............~~a $material ~~35,327~~adverse $effect ~~85,657~~on $our ~~8,036~~results $of ~~(699)~~operations ~~$128,321~~or financial ~~======== ======== ======== ======== ========~~condition.

~~For~~ On ~~the~~October 15, ~~Year~~2002, ~~Ended September 30~~Armkel, ~~1999~~LLC ~~----------------------------------------------------------------~~sued ~~Non~~Pfizer Inc. ~~Apogent Guarantor Guarantor Technologies Subsidiaries Subsidiaries Eliminations Consolidated~~ (~~in thousands~~“Pfizer”) ~~------------~~in ~~------------~~the ~~------------~~U.S. District ~~------------~~Court ~~------------~~for the ~~Net~~District ~~sales...............~~of $New --Jersey ~~$638,886~~for ~~$109,883~~patent ~~$(33,732)~~infringement ~~$715,037~~with ~~Cost~~respect to ofcertain ~~sales...........~~immunoassay --pregnancy ~~337,597~~tests ~~67,008~~supplied ~~(31,526)~~by ~~373~~Applied Biotech,~~079~~ ~~-------~~formerly ~~--------~~a ~~--------~~subsidiary ~~--------~~in ~~--------~~our ~~Gross~~clinical ~~profit........~~group --business segment ~~301,289 42,875~~ (~~2,206)~~the ~~341,958~~“Armkel ~~Selling, general and administrative expenses~~Litigation”).~~..............~~ ~~14,943~~In ~~132,418~~July 252003,~~471~~ Pfizer ~~172,832~~filed ~~-------~~a third-~~-------~~party ~~--------~~complaint ~~--------~~lawsuit ~~--------~~in ~~Operating income~~the U.S.~~......~~ District ~~(14,943)~~Court ~~168,871~~for ~~17,404~~the ~~(2,206)~~District ~~169,126~~of ~~Other~~New ~~income~~Jersey ~~(expense):~~against Applied ~~Interest~~Biotech ~~expense......~~to ~~(2,948)~~enforce ~~(31,785)~~the ~~(6,491)~~alleged --obligation ~~(41,224)~~of ~~Other,~~Applied Biotech ~~net............~~to ~~131~~indemnify ~~(585)~~and ~~(56)~~defend --Pfizer ~~(510)~~with ~~-------~~regard ~~--------~~to ~~--------~~the ~~--------~~Armkel Litigation. ~~--------~~(Under ~~Income~~the ~~before~~terms ~~income~~of ~~taxes,~~the ~~discontinued~~sale ~~operations~~of ~~and~~Applied ~~extraordinary~~Biotech ~~items....~~to Inverness ~~(17,760)~~Medical ~~136~~Innovations,~~501~~ ~~10,857~~Inc. ~~(2,206)~~consummated ~~127,392~~in ~~Income~~August ~~taxes............ (7~~2003,~~454)~~ we ~~50,916~~retained ~~6,820~~liability ~~(301)~~of ~~49,981~~Applied ~~-------~~Biotech ~~--------~~for ~~--------~~claims ~~--------~~arising ~~-------- Income~~ from the ~~continuing~~Armkel ~~operations before extraordinary items~~Litigation.~~... (10,306~~) ~~85,585~~We ~~4,037~~do ~~(1,905)~~not ~~77,411~~believe ~~Discontinued~~that ~~operations.............~~Applied ~~47,965~~Biotech has --an --obligation --to ~~47,965~~defend ~~-------~~and ~~--------~~indemnify ~~--------~~Pfizer ~~--------~~with ~~--------~~respect ~~Income~~to the ~~before~~Armkel ~~extraordinary~~Litigation ~~items....~~and ~~37,659~~have ~~85,585~~taken ~~4,037~~that ~~(1,905) 125,376 Extraordinary item~~position.~~.....~~ ~~17,171~~The --lawsuit between --Armkel --and ~~17,171~~Pfizer ~~-------~~has ~~--------~~been ~~--------~~settled ~~--------~~and ~~-------- Net income.............. $54~~dismissed,~~830~~ although ~~$ 85,585 $ 4,037 $ (1,905) $142,547 ======= ======== ======== ======== ========~~Pfizer’s

For the Year Ended September 30, 2001 ---------------------------------------------------------------- Non Apogent Guarantor Guarantor Technologies Subsidiaries Subsidiaries Eliminations Consolidated (in thousands) ------------ ------------ ------------ ------------ ------------ Cash flows (used by) provided by operating activities:............ $(53,740) $ 223,879 $12,035 $ -- $ 182,174 -------- ---------- ------- ------ ---------- Cash flows from investing activities: Capital expenditures.. (8,320) (34,836) (9,745) -- (52,901) Proceeds from sales of property, plant and equipment............ 10,212 2,076 169 -- 12,457 Net cash inflow from SDS.................. 46,394 -- -- -- 46,394 Net payments for businesses acquired.. -- (161,208) (2,311) -- (163,519) -------- ---------- ------- ------ ---------- Net cash provided by (used in) investing activities......... 48,286 (193,968) (11,887) -- (157,569) -------- ---------- ------- ------ ---------- Cash flows from financing activities: Proceeds from long- term debt............ -- 1,158,008 -- -- 1,158,008 Principal payments on long-term debt....... -- (1,184,273) (41) -- (1,184,314) Proceeds from the exercise of stock options.............. 6,631 -- -- -- 6,631 Other................. (4,118) (6,721) -- -- (10,839) -------- ---------- ------- ------ ---------- Net cash provided by (used in) financing activities......... 2,513 (32,986) (41) -- (30,514) Effect of exchange rate on cash and cash equivalents............ -- -- 2,690 -- 2,690 -------- ---------- ------- ------ ---------- Net (decrease) increase in cash and cash equivalents............ (2,941) (3,075) 2,797 -- (3,219) Cash and cash equivalents at beginning of year...... 7,086 (2,577) 7,902 -- 12,411 -------- ---------- ------- ------ ---------- Cash and cash equivalents at end of year................... $ 4,145 $ (5,652) $10,699 $ -- $ 9,192 ======== ========== ======= ====== ========== Supplemental disclosures of cash flow information Cash paid during the year for: Interest.............. $ -- $ 36,767 $ 365 $ -- $ 37,132 ======== ========== ======= ====== ========== Income taxes.......... $ 35,629 $ 638 $ 6,803 $ -- $ 43,070 ======== ========== ======= ====== ========== Capital lease obligations incurred... $ 36 $ 59 $ 9 $ -- $ 104 ======== ========== ======= ====== ==========

ForTable the Year Ended September 30, 2000 ---------------------------------------------------------------- Non Apogent Guarantor Guarantor Technologies Subsidiaries Subsidiaries Eliminations Consolidated (in thousands) ------------ ------------ ------------ ------------ ------------ Cash flows provided by operating activities: $ 8,446 $105,872 $2,226 $ -- $116,544 ------- -------- ------ ------- -------- Cash flows from investing activities: Capital expenditures.. (1,007) (33,823) (7,663) -- (42,493) Security purchased.... -- -- -- -- -- Proceeds from sales of property, plant and equipment............ -- 871 53 -- 924 Proceeds from sale of NPT.................. (2,600) -- -- -- (2,600) Net cash inflow from SDS.................. 58,098 -- -- -- 58,098 Net payments for businesses acquired.. (82,348) (130,992) 6,187 -- (207,153) ------- -------- ------ ------- -------- Net cash used in investing activities......... (27,857) (163,944) (1,423) -- (193,224) ------- -------- ------ ------- -------- Cash flows from financing activities: Proceeds from long- term debt............ -- 332,640 -- -- 332,640 Principal payments on long-term debt....... -- (274,712) (58) -- (274,770) Securities lending agreement............ 3,544 -- -- -- 3,544 Proceeds from the exercise of stock options.............. 12,599 -- -- -- 12,599 Other................. 3,646 -- -- -- 3,646 ------- -------- ------ ------- -------- Net cash provided by (used in) financing activities......... 19,789 57,928 (58) -- 77,659 Effect of exchange rate on cash and cash equivalents............ -- -- (969) -- (969) ------- -------- ------ ------- -------- Net increase (decrease) in cash and cash equivalents............ 378 (144) (224) -- 10 Cash and cash equivalents at beginning of year...... 6,708 (2,433) 8,126 -- 12,401 ------- -------- ------ ------- -------- Cash and cash equivalents at end of year................... $ 7,086 $ (2,577) $7,902 $ -- $ 12,411 ======= ======== ====== ======= ======== Supplemental disclosures of cash flow information Cash paid during the year for: Interest.............. $ -- $ 55,509 $ 324 $ -- $ 55,833 ======= ======== ====== ======= ======== Income taxes.......... $40,544 $ 319 $1,549 $ -- $ 42,412 ======= ======== ====== ======= ======== Capital lease obligations incurred... $ -- $ 25 $ -- $ -- $ 25 ======= ======== ====== ======= ========Contents

~~For~~ lawsuit ~~the~~against ~~Year~~Applied ~~Ended~~Biotech ~~September~~continues. 30, 1999 ---------------------------------------------------------------- Non Apogent Guarantor Guarantor Technologies Subsidiaries Subsidiaries Eliminations Consolidated ------------ ------------ ------------ ------------ ------------ (In December ~~thousands) Cash flows provided by operating activities:.. $ 3~~2004,~~519~~ $both ~~111,711~~parties $filed ~~(128)~~motions $-- $ 115,102 --------- --------- ------- ---- --------- Cash flows from investing activities: Capital expenditures.. (1,030) (22,477) (6,413) -- (29,920) Security purchased.... (50,461) -- -- -- (50,461) Proceeds from sales of property, plant and equipment............ -- 787 158 -- 945 Proceeds from sale of NPT.................. 85,841 -- -- -- 85,841 Net cash inflow from SDS.................. 47,962 -- -- -- 47,962 Net payments for ~~businesses~~summary ~~acquired~~judgment.. We ~~(143,907)~~do ~~(104,375)~~not ~~(1,641)~~believe --that (249,923) --------- --------- ------- ---- --------- Net cash used in investing activities......... (61,595) (126,065) (7,896) -- (195,556) --------- --------- ------- ---- --------- Cash flows from financing activities: Proceeds from long- term debt............ -- 531,060 -- -- 531,060 Principal payments on long-term debt....... -- (515,737) (13) -- (515,750) Securities lending agreement............ 50,461 -- -- -- 50,461 Proceeds from the ~~exercise~~outcome of ~~stock~~the ~~options..............~~Armkel ~~10,691~~Litigation --will have --a --material ~~10,691~~adverse ~~Net~~effect intercompany financing............ -- -- -- -- -- Other................. 1,930 -- -- -- 1,930 --------- --------- ------- ---- --------- Net cash provided by (used in) financing activities......... 63,082 15,323 (13) -- 78,392 Effect of exchange rate on ~~cash~~our ~~and~~results cash equivalents............ -- -- (146) -- (146) --------- --------- ------- ---- --------- Net increase (decrease) in cash and cash equivalents............ 5,006 969 (8,183) -- (2,208) Cash and cash equivalents at beginning of ~~year......~~operations ~~1,702~~or financial ~~(3,402) 16,309 -- 14,609 --------- --------- ------- ---- --------- Cash and cash equivalents at end of year~~condition................... $ 6,708 $ (2,433) $ 8,126 $-- $ 12,401 ========= ========= ======= ==== ========= Supplemental disclosures of cash flow information Cash paid during the year for: Interest.............. $ -- $ 41,464 $ 254 $-- $ 41,718 ========= ========= ======= ==== ========= Incomet taxes......... $ 27,009 $ 2,185 $ 3,237 $-- $ 32,431 ========= ========= ======= ==== ========= Capital lease obligations incurred... $ 104 $ 353 $ -- $-- $ 457 ========= ========= ======= ==== =========

~~Page~~ We ~~----~~and ~~Independent~~our ~~Auditors'~~subsidiaries ~~Report........................................~~are 35parties ~~Consolidated~~to ~~Balance~~a ~~Sheets~~number of aslawsuits or subject to claims arising out of ~~September~~our 30respective operations, ~~2001~~or ~~and~~the ~~2000.......~~operation 36of ~~Consolidated~~businesses ~~Statements~~divested ofsince ~~Income~~the 1980’s for ~~the~~which ~~years~~certain ~~ended~~of ~~September~~our 30subsidiaries may continue to have legal or contractual liability, ~~2001~~including product liability, ~~2000~~patent and ~~1999................................................~~trademark 37or ~~Consolidated~~other ~~Statements~~intellectual property infringement, workplace safety, and environmental claims and cases, some of ~~Shareholders'~~which ~~Equity~~involve claims for ~~the~~substantial ~~Years~~damages. ~~ended~~We vigorously ~~September~~defend ~~30,~~lawsuits ~~2001,~~and ~~2000~~other ~~and~~claims ~~1999~~against us.~~.................................~~ 38Based upon ~~Consolidated~~our ~~Statements~~assessment of ~~Cash~~the ~~Flows~~cases ~~for~~and ~~the~~claims ~~years~~against ~~ended~~us ~~September~~and ~~30,~~our experiences ~~2001~~with similar cases and claims in the past, ~~2000~~we believe that any liabilities which might reasonably result from any of the pending cases and ~~1999~~claims would not have a material adverse effect on our results of operations or financial condition.~~...........................................~~ 39However, ~~Notes~~there can be no assurance as to ~~Consolidated~~this ~~Financial~~or ~~Statements..........................~~that we 40will not be subjected to significant additional claims in the future with respect to our current or former operations which would have such a material adverse effect.

~~Page~~Item ~~----~~4. ~~Independent~~Submission ~~Auditors'~~of ~~Report..........................................~~Matters 81to ~~Schedule~~a ~~II--Valuation~~Vote ~~and~~of ~~Qualifying~~Security ~~Accounts........................ 82~~Holders

~~Additions~~ Omitted ~~---------------------~~in ~~Balance~~reliance atupon Charged to Charged to Balance at Beginning Costs and Other End of Descriptions of Year Expenses Accounts Deductions Year ------------ ---------- ---------- ---------- ---------- ---------- Year ended September 30, 2001 Dedectucted from asset accounts: Allowance for doubtful receivables.......... $4,041 $972 $ 33 General Instruction I (b) $1,071 (a) $3,975 ====== ==== ====== ====== ====== Year ended September 30, 2000 Dedectucted from asset accounts: Allowance for doubtful receivables.......... $3,098 $863 $ 109 (b) $ 29 (a) $4,041 ====== ==== ====== ====== ====== Year ended September 30, 1999 Dedectucted from asset accounts: Allowance for doubtful receivables.......... $2~~,079 $907 $1,080 (b~~) ~~$ 968~~ (ac) ~~$3,098~~of ~~====== ==== ====== ====== ======~~Form 10-K.

Exhibit Filed Number Description Incorporated Herein By Reference To Herewith ------- --------------------------------------------- ----------------------------------------- -------- 2.1 Contribution Agreement, Plan andAgreement Exhibit 2.1 to the Registrant's Form 10-K of Reorganization andDistribution, dated as for the year ended September 30, 2000 of November 28,2000, between the Registrant (the "2000 10-K") andSybron Dental Specialties, Inc.("SDS") and Sybron Dental Management, Inc. (excluding the forms of the ancillary agreements attached thereto as exhibits, definitive copies of which are filed as Exhibits 2.2 through 2.8 below) 2.2 General Assignment, Assumption and Exhibit 2.2 to the 2000 10-K Agreement Regarding Litigation, Claims and Other Liabilities, dated as of December 11, 2000, between the Registrant and SDS 2.3 Trade Name Assignment and Transitional Exhibit 2.3 to the 2000 10-K Trade Name Use and License Agreement, dated as of December 11, 2000, between the Registrant and SDS 2.4 Insurance Matters Agreement, dated as of Exhibit 2.4 to the 2000 10-K December 11, 2000, between the Registrant and SDS 2.5 Employee Benefits Agreement, dated as of Exhibit 2.5 to the 2000 10-K December 11, 2000, between the Registrant and SDS 2.6 Tax Sharing and Indemnification Agreement, Exhibit 2.6 to the 2000 10-K dated as of December 11, 2000, between the Registrant and SDS 2.7 Interim Administrative Services Agreement, Exhibit 2.7 to the 2000 10-K dated as of December 11, 2000, between the Registrant and SDS 2.8 Confidentiality and Nondisclosure Agreement, Exhibit 2.8 to the 2000 10-K dated as of December 11, 2000, between the Registrant and SDS 3.1 (a) Restated Articles of Incorporation of the Exhibit 3.1 to the Registrant's For 10-Q Registrant for the quarter ended December 31, 2000 (b) Articles of Amendment containing Exhibit 3.1(b) to the 2000 10-K Certificate of Designation, Preferences and Rights of Series A Preferred Stock

ExhibitTable Filed Number Description Incorporated Herein By Reference To Herewith ------- ------------------------------------------- ------------------------------------------ -------- 3.2 Bylaws of the Registrant, as amended Exhibit 3.2 to the Registrant's Form 10-Q as of January 30, 2001 for the quarter ended December 31, 2000 4.1 Restated Articles of Incorporation Exhibits 3.1 and 3.2 hereto and Restated Bylaws of the Registrant 4.2 Rights Agreement, dated as of December 11, Exhibit 1 to the Registrant's Registration 2000, between theRegistrant and Fleet Statement on Form 8-A and Exhibit 4 to the National Bank,as Rights Agent, including Registrant's Current Report on Form 8-K, the Formof Certificate of Designation, both dated December 11, 2000 and filed Preferences and Rights of Series A December 12, 2000 Preferred Stock (Exhibit A), Form of Rights Certificate (Exhibit B) and Form of Summary of Rights (Exhibit C) 4.3 Credit Agreement, dated as of Exhibit 4.3 to the 2000 10-K December 1, 2000 (the "Credit Agreement''), among the Registrant, the several Lenders from time to time parties thereto, Bank One, NA, as Domestication Agent, Bank of America, N.A., as Syndication Agent, and The Chase Manhattan Bank, as Administrative Agent 4.4 Subsidiaries Guarantee, dated as of Exhibit 4.4 to the 2000 10-K December 1, 2000, executed pursuant to the Credit Agreement 4.5 Purchase Agreement dated March 30, Exhibit 4.3 to the Registrant's 2001 between the Registrant, the Registration Statement on Form S-4 Subsidiary Guarantors named therein (File No. 333-62182) and the Initial Purchasers named therein 4.6 Indenture dated April 4, 2001 among Exhibit 4.1 to the Registrant's the Registrant, the Subsidiary Form 10-Q for the quarter ended Guarantors named therein and The March 31, 2001 Bank of New York, as Trustee 4.7 Exchange and Registration Rights Exhibit 4.2 to the Registrant's Agreement dated April 4, 2001 among Form 10-Q for the quarter ended the Registrant, the Subsidiary March 31, 2001 Guarantors named therein and the Initial Purchasers named therein 4.8 Purchase Agreement dated October 3, X 2001 between the Registrant, the Subsidiary Guarantors named therein and the Initial Purchasers named therein 4.9 Indenture dated October 10, 2001 among Exhibit 99.2 to the Registrant's the Registrant, the Subsidiary Form 8-K dated October 11, 2001 Guarantors named therein and The Bank of New York, as TrusteeContents

~~Exhibit Filed Number Description Incorporated Herein By Reference To Herewith ------- -------------------------------------------- --------------------------------------- -------- 4~~ PART II.10 Resale Registration Rights Agreement X dated as of October 10, 2001 among the Registrant, the Subsidiary Guarantors named therein and the Initial Purchasers named therein 10.1* Form of former Employment Agreement Exhibit 10(a) to Sybron Corporation's with the former executive officers of the Form 10-K for the fiscal year ended Registrant September 30, 1993 (the "1993 10-K") 10.2* Schedule of former executive officers who Exhibit 10.2 to the Registrant's were parties to the former Employment Form 10-K for the fiscal year ended Agreement filed as Exhibit 10.1, with a September 30, 1998 (the "1998 10-K") summary of significant terms 10.3* Form of current Employment Agreement Exhibit 10.3 to the 2000 10-K with Kenneth F. Yontz, R. Jeffrey Harris, and Dennis Brown 10.4* Summary of significant terms for each Exhibit 10.4 to the 2000 10-K Employment Agreement filed as Exhibit 10.3 10.5* Form of Employment Agreement with the Exhibit 10.5 to the 2000 10-K current executive officers of the Registrant 10.6* Schedule of executive officers who are Exhibit 10.6 to the 2000 10-K parties to the Employment Agreement filed as Exhibit 10.5, with a summary of significant terms 10.7* Form of Indemnification Agreement with Exhibit 10 to the Registrant's Form 8-K each of the executive officers and directors filed November 15, 2001 identified on the schedule thereto 10.8* 1988 Stock Option Plan Exhibit 10(q) to Sybron Corporation's Registration Statement on Form S-1 (No. 33-20829) 10.9* Amendment to the 1988 Stock Option Plan Exhibit 10(q-4) to the Registrant's Form 10-K for the fiscal year ended September 30, 1992 (the "1992 10-K") 10.10* Form of Nonstatutory Stock Option Exhibit 10(r) to Sybron Corporation's Agreement under the 1988 Stock option Plan Registration Statement on Form S-1 (No. 33-20829) 10.11* 1990 Stock Option Plan Exhibit 10(q-2) to Sybron Corporation's Registration Statement on Form S-1 (No. 33-20829) 10.12* Amendment to 1990 Stock Option Plan Exhibit 10(q-6) to the 1992 10-K 10.13* Form of Nonstatutory Stock Option Exhibit 10(s-1) to Sybron Corporation's Agreement under the 1990 Stock Registration Statement on Form S-1 OptionPlan (No. 33-20829) 10.14* Amended and Restated 1994 Outside Exhibit 10.41 to the Registrant's Directors' Stock Option Plan Form 10-K for the fiscal year ended September 30, 1996

~~Exhibit~~Item ~~Filed Number Description Incorporated Herein By Reference To Herewith ------- ------------------------------------------- -------------------------------------- -------- 10~~5.15* ~~Form~~Market ~~of Nonstatutory Stock Option Exhibit 10.42 to the Registrant's Agreement under the Amended and Restated Form 10-K~~ for ~~the fiscal year ended 1994 Outside Directors' Stock Option Plan September 30, 1999 (the "1999 10-K") 10.16* 1999 Outside Directors' Stock Option Plan Exhibit A to the~~ Registrant'’s ~~Proxy~~Common ~~Statement dated December 22~~Equity, ~~1998~~Related ~~for~~Stockholder ~~its~~Matters ~~Annual Meeting of Shareholders on January 27, 1999 10.17* Form of Nonstatutory Stock Option Exhibit 10.43 to the 1999 10-K Agreement under the 1999 Outside Directors' Stock Option Plan 10.18* Amended~~ and ~~Restated~~Issuer ~~1993~~Purchases ~~Long-Term Exhibit A to the Registrant's Proxy Incentive Plan Statement dated December 23, 1997 for its Annual Meeting~~ of ~~Shareholders~~Equity onSecurities ~~January 30, 1998 10.19* Form of Nonstatutory Stock Option Exhibit 10(u) to the 1993 10-K Agreement under the 1993 Long-Term Incentive Plan 10.20* Amended~~ and ~~Restated~~Related ~~Senior~~Stockholder Executive Exhibit A to the Registrant's Proxy Incentive Compensation Plan Statement dated December 22, 1999 for its Annual Meeting of Shareholders on February 2, 2000 10.21* Sybron International Corporation Exhibit 10.40 to the 1998 10-K Deferred Compensation Plan 10.22 Lease Agreement dated December 21, 1988 Exhibit 10(cc) to Sybron between CPA:7 and CPA:8, as landlord, and Corporation's Registration Statement Barnstead Thermolyne Company, as tenant on Form S-1 (No. 33-24640) (the "Barnstead Thermolyne Lease") 10.23 First Amendment to the Barnstead Exhibit 10.23 to the 2000 10-K Thermolyne Lease 10.24 Lease Agreement dated December 21, 1988 Exhibit 10(ee) to Sybron Corporation's between CPA:7 and CPA:8, as landlord, and Registration Statement on Form S-1 Erie Scientific Company, as tenant (No. 33-24640) (the "Erie Lease") 10.25 First Amendment to the Erie Lease Exhibit 10.25 to the 2000 10-K 10.26 Lease Agreement dated December 21, 1988 Exhibit 10(ff) to Sybron Corporation's between CPA:7 and CPA:8, as landlord, and Registration Statement on Form S-1 Nalge Nunc International Corporation, as (No. 33-24640) tenant (the "NNI Lease") 10.27 Second Amendment to the NNI lease Exhibit 10.27 to the 2000 10-K 10.28 Amended and Restated Guaranty and Exhibit 10.28 to the 2000 10-K Suretyship Agreement, dated December 11, 2000, between the Registrant and CPA:7 and CPA:8Matters

~~Exhibit~~ Since ~~Filed~~our Number Description Incorporated Herein By Reference To Herewith ------- -------------------------------------------- -------------------------------------- -------- 10.29 Tenant Agreement dated December 21inception, ~~1988~~we ~~Exhibit~~have ~~10(tt)~~not topaid ~~Sybron~~any ~~Corporation's~~cash dividends ~~between New England Mutual Life Registration Statement~~ on ~~Form~~our ~~S-1~~common ~~Insurance Company, as lender, and CPA:7 (No~~stock. ~~33-24640)~~In ~~Form S-1 and CPA:8~~addition, aswe ~~landlord,~~do ~~and~~not ~~Barnstead~~anticipate paying ~~(No.~~cash ~~33-24640)~~dividends ~~Thermolyne Corporation, as tenant 10.30 Tenant Agreement dated December 21, 1988 Exhibit 10(uu) to Sybron Corporation's between New England Mutual Life Insurance Registration Statement~~ on ~~Form~~common ~~S-1~~stock ~~Company,~~at asany ~~lender,~~time ~~and~~in CPA:7 and CPA:8, (No. 33-24640) Form S-1 as landlord, and Erie Scientific Company, (No. 33-24640) as tenant 10.31 Tenant Agreement dated December 21, 1988 Exhibit 10(vv) to Sybron Corporation's between New England Mutual Life Insurance Registration Statement on Form S-1 Company, as lender, and CPA:7 and CPA:8, (No. 33-24640) Form S-1 as landlord, and Nalge Nunc International (No. 33-24640) Corporation (formerly Nalge Company), as tenant 10.32 Sale and Leaseback Agreement dated Exhibit 10(ww) to Sybron Corporation's December 21, 1988 between Sybron Registration Statement on Form S-1 Corporation and New England Mutual Life (No. 33-24640) Insurance Company, as lender 10.33 Environmental Risk Agreement dated Exhibit 10(yy) to Sybron December 21, 1988 from Sybron Corporation's Registration Statement Corporation and Barnstead Thermolyne on Form S-1 (No. 33-24640) Corporation, as indemnitors, to New England Mutual Life Insurance Company, as lender, and CPA:7 and CPA:8, as Borrowers 10.34 Environmental Risk Agreement dated Exhibit 10(aaa) to Sybron December 21, 1988 from Sybron Corporation's Registration Statement Corporation and Erie Scientific Company, on Form S-1 (No. 33-24640) as indemnitors, to New England Mutual Life Insurance Company, as lender, and CPA:7 and CPA:8, as Borrowers 10.35 Environmental Risk Agreement dated Exhibit 10(bbb) to Sybron December 21, 1988 from Sybron Corporation Corporation's Registration Statement and Nalge Nunc International Corporation on Form S-1 (No. 33-24640) (formerly Nalge Company), as indemnitors, to New England Mutual Life Insurance Company, as lender, and CPA:7 and CPA:8, as borrowers 10.36* Life insurance policy for Kenneth F. Yontz, Exhibit 10(eee) to Sybron executive officer of the foreseeable ~~Registrant Corporation's Registration Statement on Form S-1 (No~~future. 33-45948) 10.37* Life insurance policy for Frank H. Jellinek, Exhibit 10(eee-1) to Sybron Jr., executive officer of the Registrant Corporation's Registration Statement on Form S-1 (No. 33-45948) 10.38* Life insurance policy for R. Jeffrey Harris, Exhibit 10(rr) to the 1993 10-K former executive officer of the Registrant

~~Exhibit~~ Since ~~Incorporated~~August 2, Herein By Reference Filed Number Description To Herewith ------- ------------------------------------------------- ---------------------------------- -------- 10.39* Life insurance policy for Dennis Brown2004, ~~Exhibit~~all ~~10.42 to the Registrant's former executive officer~~ of ~~the~~our ~~Registrant~~outstanding common ~~Form10-K~~stock ~~for~~has ~~the~~been ~~fiscal~~beneficially ~~year~~owned ~~ended~~by ~~September~~Fisher 30, 1995 10.40* Sybron Laboratory Products Corporation Exhibit 10.41 to the 2000 10-K Senior Salaried Executive Financial Performance Incentive Compensation Plan 10.41 Aircraft Purchase Agreement dated November 20, X 2000 between Sybron International Corporation (as Buyer) Scientific and ~~Volare Partners~~therefore, ~~LLC~~there ~~(as~~is ~~Seller)~~no 21trading ~~Subsidiaries~~market ofin ~~the~~such ~~Registrant X 23 Consent of KPMG LLP X 24 Powers of Attorney of Directors of the Registrant X~~securities.

Our common stock traded on the NYSE under the symbol “AOT.” The market information set forth below for our most recent fiscal years is based on NYSE sales prices.



		Common Stock

Fiscal Year and Quarter		High		Low


		(In dollars)
2003
	1st Quarter	$	21.24	$	16.70
	2nd Quarter	$	21.40	$	14.45
	3rd Quarter	$	20.89	$	14.60
	4th Quarter	$	22.51	$	19.79
2004
	1st Quarter	$	23.60	$	20.85
	2nd Quarter	$	31.23	$	22.65
	3rd Quarter	$	33.83	$	29.95
	4th Quarter (through August 2, 2004)	$	33.49	$	29.24


Item 6.	*Selected Financial Data*

Omitted in reliance upon General Instruction I (2) (a) of Form 10-K. Refer to Item 7 — Management’s Discussion and Analysis of Financial Condition and Results of Operations for management’s narrative analysis of the results of operations for the year ended September 30, 2004 as compared to the year ended September 30, 2003.


Item 7.	*Management’s Discussion and Analysis of Financial Condition and Results of Operations*

This Annual Report on Form 10-K includes forward-looking statements within the meaning of Section 21E of the Exchange Act. All statements other than statements of historical facts included in this Form 10-K may constitute forward-looking statements. Words such as “anticipates,” “estimates,” “expects,” “projects,” “intends,” “plans,” “believes” and words and terms of similar substance used in connection with any discussion of future operating results or financial performance identify forward-looking statements.

The Company has based forward-looking statements on its current expectations and projections about future events. Although the Company believes that its assumptions made in connection with the forward-looking statements are reasonable, there can be no assurances that the assumptions and expectations will prove to have been correct. All forward-looking statements reflect the Company’s present expectations of future events and are subject to a number of important assumptions, factors, and risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Some of the uncertainties and assumptions to which these forward-looking statements are subject include the following:


	•	our outstanding indebtedness and leverage, and the restrictions imposed by our indebtedness;

	•	the effects of domestic and international economic and business conditions on our businesses;


	•	the high degree of competition of certain of our businesses, and the potential for new competitors to enter into these businesses;

	•	future modifications to existing laws and regulations, including those regarding the environment;

	•	discovery of unknown contingent liabilities, including environmental contamination at our facilities and liability with respect to products we distribute and manufacture;

	•	fluctuations in interest rates and in foreign currency exchange rates;

	•	availability, or increases in the cost, of raw materials and other inputs used to make our products;

	•	the loss of major customers or suppliers, including any provider of shipping services; and

	•	our ability to generate free cash flow or to obtain sufficient resources to finance working capital and capital expenditure needs.

You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this Forma 10-K. The Company is under no obligation, and expressly disclaims any obligation, to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise.

Overview

On August 2, 2004 we completed an approximately $4.0 billion combination with Fisher Scientific International Inc. (“Fisher Scientific”) in a tax-free, stock-for-stock merger, including the assumption of approximately $1.0 billion of our debt by Fisher Scientific. Apogent shareholders received 0.56 shares of Fisher Scientific common stock for each share of Apogent common stock they owned. Upon completion of the merger, Apogent became a wholly-owned subsidiary of Fisher Scientific.

The Company believes the combination of Apogent with Fisher Scientific will result in several strategic benefits, including:


	•	Strategic position. The combination of Apogent’s and Fisher Scientific’s complementary operations, expertise, manufacturing capabilities and sales and services capabilities should position the combined company to provide its customers with innovative products and services while generating increased cash flow and financial flexibility to pursue additional growth and acquisition opportunities.

	•	Life-science market position. The life-science footprint of the combined company will be substantially larger than Apogent’s current life-science footprint.

	•	Biopharma-production and diagnostic-reagent offering. The combination of Fisher Scientific and Apogent will strengthen offerings in biopharma-production and diagnostic-reagents.

	•	Global market presence. Apogent has manufacturing operations throughout the world that will complement and enhance Fisher Scientific’s existing worldwide distribution and supply network.

	•	New products and services. The combined company will have a substantially broader portfolio of product offerings than Apogent has now and an enhanced worldwide distribution and sales network. The merger is also expected to give the combined company a greater ability to develop and market competitive new products and services, enabling it to attract and maintain more customers worldwide.

In connection with the merger of Apogent and Fisher Scientific, Fisher Scientific and Apogent engaged in a number of financing transactions, which we refer to as the “Apogent Refinancing Transactions.” The Apogent Refinancing Transactions include the following:


	•	We completed an exchange offer for our $345 million aggregate principal amount of Floating Rate Senior Convertible Contingent Debt Securities due 2033 (the “Floating Rate CODES”). The exchange offer for the Floating Rate CODES aligned the conversion terms of our convertible debt with Fisher’s currently outstanding convertible debt. Approximately 99.9 percent of the outstanding principal amount of the Floating Rate CODES were tendered for exchange with a like principal


		amount of Floating Rate Convertible Senior Debentures due 2033 and an exchange fee of 0.50 percent of principal amount of the securities tendered was paid. In addition, we paid a consent fee of 0.60 percent to not register the notes for resale as required per the original registration rights agreement. Neither Fisher nor Apogent received any proceeds from the issuance of the new debentures in the exchange offer.

	•	We completed an exchange offer for our $300 million aggregate principal amount of 2.25% Senior Convertible Contingent Debt Securities due 2021 (the “2.25% CODES”). The exchange offer for the 2.25% CODES aligned the conversion terms of our convertible debt with Fisher’s currently outstanding convertible debt. Approximately 99.6 percent of the outstanding principal amount of the 2.25% CODES were tendered for exchange with a like principal amount of 2.25% Convertible Senior Debentures due 2021 and an exchange fee of 0.50 percent of the principal amount of the securities tendered was paid. Neither Fisher nor Apogent received any proceeds from the issuance of the new debentures in the exchange offer.

	•	Concurrently with the two exchange offers we completed a cash tender offer for the $250 million aggregate principal amount of the 6 1/2% senior subordinated notes due 2013. We accepted for payment $249.6 million aggregate principal amount representing 99.8 percent of the outstanding principal amount of the 6 1/2% senior subordinated notes due 2013. The purchase price for the notes was $1,107.50 in cash per $1,000 principal amount, plus accrued and unpaid interest. A concurrent consent solicitation amended the indenture for any 6 1/2% senior subordinated notes that remained outstanding to eliminate certain restrictive covenants in that indenture.

On September 20, 2004, we issued a notice for redemption of approximately $298.8 million of the 2.25% Convertible Senior Debentures due 2021 and approximately $1.0 million of the 2.25% CODES due 2021 for cash at a price equal to 100% of the principal amount plus accrued and unpaid interest and contingent interest, as defined in the agreements. Note holders had the option of converting their notes until October 18, 2004. Approximately $295.7 million of the notes were converted. Notes, which were not converted, were redeemed on October 20, 2004. Principally, all of the converted notes were settled in cash.

The merger is being accounted for as a purchase business combination in accordance with Statement of Financial Accounting Standards No. 141, “Business Combinations” (“SFAS 141”). The financial statements included herein reflect the “push-down” method of accounting, resulting in a new basis of accounting for the “successor” period beginning August 2, 2004. Information relating to all “predecessor” periods prior to the combination is presented using Apogent’s historical basis of accounting. To assist in the comparability of our financial results and discussions, results of operations for the year ended September 30, 2004 include results for the ten months of the predecessor and two months of the successor and are designated as “combined.” The following discussion and analysis is on a combined basis.

On February 20, 2004, we acquired H.A.L. Baggin, Inc. d/b/a Pactech (“Pactech”). Pactech designs, develops, manufactures and sells innovative flexible packaging solutions for a broad range of medical, industrial and consumer applications. Pactech’s annual sales are approximately $13 million and its results have been included in the research group from the date of acquisition.

On April 2, 2004, we acquired Eagle Picher Scientific Products (“Eagle Picher”). Eagle Picher’s products include glass and plastic bottles, jars, closures, vials, tubes, and test kits that have been cleaned and treated for use in high purity applications. Eagle Picher’s annual sales are approximately $13 million and its results have been included in the research group from the date of acquisition.

We report financial results on the basis of two business segments: a research group and a clinical group.

Results of Operations


	*Net Sales*

The following table presents sales and sales growth by business segment for the years ended September 30, 2004, 2003 and 2002:



		Year Ended September 30,


		2004					2003					2002

				Sales					Sales
		Sales		Growth			Sales		Growth			Sales

												(Predecessor)
		(Combined)					(Predecessor)
Clinical Group		$	554,837		8.7	%	$	510,536		7.8	%	$	473,388
Research Group			639,276		8.9	%		586,953		5.8	%		554,525

	Total	$	1,194,113		8.8	%	$	1,097,489		6.8	%	$	1,027,913

The 2004 and 2003 sales growth rates are favorably impacted by foreign exchange translation of approximately $24.0 million and $22.6 million, respectively. Our acquisitions of Quality Scientific Plastics, Pactech and Eagle Picher collectively accounted for approximately 3.5 percentage points and 3.0 percentage points of the 2004 and 2003 growth rates, respectively. The increase in our organic growth rate in 2004 was primarily driven by an increase in sales of new products. Organic sales growth rate for 2003 was flat versus 2002 reflecting the slowdown in spending for laboratory equipment and other products.


	*Income from Operations*

The following table presents income from operations and operating income growth by business segment for the years ended September 30, 2004, 2003 and 2002:



		Year Ended September 30,

		2004		2003		2002

		Income from		Income from		Income from
		Operations		Operations		Operations

		(Combined)		(Predecessor)		(Predecessor)
Clinical Group		$	112,238	$	125,753	$	123,386
Research Group			85,329		108,324		124,554

	Total	$	197,567	$	234,077	$	247,940

Fiscal year 2004 income from operations of $197.6 million included the following items:


	•	a non-cash charge of $38.2 million related to the step-up of our inventory to Fisher’s acquired fair value and was recorded in cost of products sold;

	•	a restructuring charge of $7.9 million, related to restructuring activities announced during 2003 and 2004, for the consolidation of certain facilities and product rationalization. The charge reflects approximately $4.1 million related to severance associated with employees in production activities and other exit activities related to production and approximately $3.8 million related to severance associated with non-production employees and other exit costs. We recorded a restructuring credit of approximately $0.3 million for the reversal of certain costs accrued in prior years restructuring plans due to a reduction in estimated costs.

	•	transaction related costs of $15.9 million, of which approximately $12.0 million were paid to our advisors in connection with the merger.

The resulting income from operations excluding these items was 21.7% of sales.

Included in the 2003 income from operations is a restructuring charge of $13.5 million related to the consolidation of certain facilities and discontinuance of certain product lines due to product rationalizations. Approximately $7.5 million related to the write-off of inventory and severance associated with employees in production activities and approximately $6.0 million related to the write-off of fixed assets,

severance associated with non-production employees and other exit related costs. The resulting income from operations excluding these items was 22.6% of sales.

Included in the 2002 income from operations is an aggregate net restructuring charge of $6.9 million for the consolidation of certain facilities and discontinuance of certain product lines due to rationalization. The restructuring charge of $7.1 million, reflecting $5.6 million related to the write-off of inventory, the write-off of fixed assets, certain lease termination costs, and severance associated with production employees and $1.5 million related to severance associated with non-production employees and other exit costs. During 2002, we recorded a restructuring credit of approximately $0.2 million for the reversal of certain costs accrued in the fiscal 2000 restructuring plan due to a reduction in estimated costs. The resulting income from operations excluding these items was 24.8% of sales.

The decrease in operating income as a percentage of sales in 2004 was primarily attributable to a decline in sales to biotechnology and pharmaceutical customers and a change in product mix, as well as the introduction of lower margin product sales from our Quality Scientific Plastics acquisition.


	*Interest Expense*

Interest expense, net, was $26.9 million for the combined fiscal year ended September 30, 2004, as compared to $46.2 million for the same period of fiscal 2003. The decrease in interest expense is primarily due to a reduction in the Company’s outstanding debt obligations and weighted average interest rate.


	*Other Income (Expense)*

For the period of August 2, 2004 through September 30, 2004 excluding interest expense other income/expense is largely comprised of charges of $46.6 million, reflecting $29.8 million of call premiums and $16.8 million of other debt related costs.


	*Income Tax Provision*

Taxes on income from continuing operations for the combined fiscal year ended September 30, 2004 were $49.4 million, an increase of $9.7 million from the same period of fiscal 2003. The increase in income taxes resulted from an increase in our effective tax rate to 41.5% from 32.6%, which is primarily a result of nondeductible merger expenses incurred during fiscal 2004.


	*Discontinued Operations*

Loss from discontinued operations, net of tax, for the combined fiscal year ended September 30, 2004 was $0.4 million, as compared to $94.1 million for the same period of fiscal 2003. The loss from discontinued operations during fiscal 2003 was the result of the Company’s decision to dispose of two of its businesses: the rapid diagnostic test business (on-site rapid tests used in the detection of pregnancy, drugs of abuse and infectious diseases) as conducted by the former Applied Biotech, Inc. subsidiary; and the manufacture and sale of automated micro array instrumentation for the genomics market as conducted by our former BioRobotics Group Limited subsidiary. The combined fiscal year 2004 loss from discontinued operations represents the Company’s continued disposal activities associated with these two businesses.


Item 7A.	*Quantitative and Qualitative Disclosures About Market Risk*

We measure our market risk related to our holdings of financial instruments based on changes in interest rates, foreign currency rates and commodities utilizing a sensitivity analysis. The sensitivity analysis measures the potential loss in fair values, cash flows and earnings based on a hypothetical 10% change in these market rates. We used market rates as of September 30, 2004 on our financial instruments to perform this sensitivity analysis. We do not include items such as lease contracts, insurance contracts, and obligations for pension and other post-retirement benefits in the analysis.

Our primary interest rate exposures relate to cash, fixed and variable rate debt and interest rate swaps and options. The potential loss in fair values is based on an immediate change in the net present values of our interest rate sensitive exposures resulting from a 10% change in interest rates. The potential loss in cash flows and earnings is based on the change in the net interest income/expense over a one-year period

due to an immediate 10% change in rates. As of September 30, 2004, we had $344.6 million of floating rate debt outstanding. There were no interest rate swaps outstanding as of September 30, 2004.

Our primary currency rate exposures relate to our intercompany debt, foreign cash and foreign currency forward and option contracts. The potential loss in fair values is based on an immediate change in the U.S. dollar equivalent balances of our currency exposures due to a 10% shift in exchange rates. The potential loss in cash flows and earnings is based on the change in cash flow and earnings over a one-year period resulting from an immediate 10% change in currency exchange rates. A hypothetical 10% change in the currency exchange rates would not have had a material impact on the fair values, cash flows or earnings for the fiscal year ended September 30, 2004 and had not entered into any foreign currency hedges in 2003.

Our commodity exposures relate to the procurement of raw material components. The potential loss in fair values is based on an immediate change in the net present value of our commodity exposures resulting from a 10% change in market rates. The potential loss in cash flows and earnings could have had a material impact on our fair values, cash flows or earnings for the fiscal year ended September 30, 2004 and 2003.

In the normal course of business, we use derivative financial instruments, including interest rate swaps and options and foreign currency forward exchange contracts and options, and commodity swaps and options to manage market risks. The objective in managing our exposure to changes in interest rates is to limit the impact of these changes on earnings and cash flow and to lower our overall borrowing costs. The objective in managing our exposure to changes in foreign currency exchange rates is to reduce volatility on earnings and cash flow associated with these changes. The objective in managing our exposure to commodities is to reduce our volatility on earnings and cash flow associated with these changes. Our principal currency exposures are in the major European currencies. We do not hold derivatives for trading purposes.

We operate manufacturing facilities as well as offices around the world and utilize fixed and floating rate debt to finance global operations. As a result, we are subject to business risks inherent in non-U.S. activities, including political and economic uncertainty, import and export limitations, and market risk related to changes in interest rates and foreign currency exchange rates. We believe the political and economic risks related to foreign operations are mitigated due to the stability of the countries in which our largest foreign operations are located.


Item 8.	*Financial Statements and Supplementary Data*

INDEX TO CONSOLIDATED FINANCIAL STATEMENTS

APOGENT TECHNOLOGIES INC. AND SUBSIDIARIES


	Page

Report of Independent Registered Public Accounting Firm		13
Report of Independent Registered Public Accounting Firm		14
Consolidated Balance Sheets as of September 30, 2004 and 2003		15
Consolidated Statements of Operations for the years ended September 30, 2004, 2003 and 2002		16
Consolidated Statements of Shareholders’ Equity and Other Comprehensive Income for the years ended September 30, 2004, 2003 and 2002		17
Consolidated Statements of Cash Flows for the years ended September 30, 2004, 2003 and 2002		19
Notes to Consolidated Financial Statements		20

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors of

Apogent Technologies Inc.:

We have audited the accompanying consolidated balance sheet of Apogent Technologies Inc. and subsidiaries as of September 30, 2004, and the related consolidated statements of operations, shareholders’ equity and other comprehensive income and cash flows for the period from August 2, 2004 through September 30, 2004, and of its predecessor for the period from October 1, 2003 through August 1, 2004. Our audits also included the consolidated financial statement schedule listed in the Index at Item 15. These consolidated financial statements and the consolidated financial statement schedule are the responsibility of the Company’s management. Our responsibility is to express an opinion on these consolidated financial statements and the consolidated financial statement schedule based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, such consolidated financial statements present fairly, in all material respects, the financial position of Apogent Technologies Inc. and subsidiaries at September 30, 2004, and the results of their operations and their cash flows for the period from August 2, 2004 through September 30, 2004, and of its predecessor for the period from October 1, 2003 through August 1, 2004, in conformity with accounting principles generally accepted in the United States of America. Also, in our opinion, such consolidated financial statement schedule, when considered in relation to the basic consolidated financial statements taken as a whole, presents fairly in all material respects the information set forth therein.

/s/ DELOITTE & TOUCHE LLP

New York, New York

December 14, 2004

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

The Board of Directors

Apogent Technologies Inc. and Subsidiaries:

We have audited the accompanying consolidated balance sheet of Apogent Technologies Inc. and subsidiaries as of September 30, 2003, and the related consolidated statements of operations, shareholders’ equity and cash flows for each of the years in the two-year period ended September 30, 2003. In connection with our audits of the aforementioned consolidated financial statements, we also audited the related consolidated financial statement schedule included in the Form 10-K. These consolidated financial statements and financial statement schedule are the responsibility of the Company’s management. Our responsibility is to express an opinion on these consolidated financial statements and financial statement schedule based on our audits.

In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Apogent Technologies Inc. and subsidiaries as of September 30, 2003, and the results of their operations and their cash flows for each of the years in the two-year period ended September 30, 2003, in conformity with accounting principles generally accepted in the United States of America. Also, in our opinion, the related financial statement schedule, when considered in relation to the basic consolidated financial statement as a whole, present fairly, in all material respects, the information set forth therein.

As discussed in Note 7 to the consolidated financial statements, effective October 1, 2001, the Company adopted the provisions of Statement of Financial Accounting Standards No. 142 “Goodwill and Other Intangible Assets.”


	/s/ KPMG LLP

Boston, Massachusetts

November 10, 2003

APOGENT TECHNOLOGIES INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS



			September 30,

			2004			2003

			(Successor)			(Predecessor)

			(In thousands except per
			share data)
ASSETS
Current assets:
	Cash and cash equivalents		$	27,054		$	18,505
	Accounts receivable (less allowance for doubtful accounts of $57 and $4,286 respectively) (includes receivables due from parent)			193,082			179,523
	Inventories			249,624			206,549
	Other current assets			56,738			49,451

		Total current assets		526,498			454,028
Property, plant and equipment, net				267,284			282,752
Intangible assets, net				1,176,867			179,492
Goodwill				2,434,657			999,243
Other assets				30,466			34,476

		Total assets	$	4,435,772		$	1,949,991


LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
	Short-term debt		$	12,350		$	15,082
	Accounts payable			45,509			50,220
	Income taxes payable			—			20,053
	Accrued payroll and employee benefits			45,303			34,484
	Accrued merger and integration costs			32,003			—
	Other current liabilities			54,703			49,485
	Intercompany with parent			220,706			—

		Total current liabilities		410,574			169,324
Long-term debt, less current portion				654,570			891,989
Deferred income taxes				225,006			137,683
Other liabilities				72,331			26,948
Commitments and contingent liabilities
Shareholders’ equity:
	Parent company investment			3,091,200			—
	Preferred stock ($0.01 par value; 0 and 20,000,000 shares authorized at September 30, 2004 and 2003, respectively; none outstanding)			—			—
	Common stock ($0.01 par value; 1,000 and 250,000,000 shares authorized; 1,000 and 107,057,865 shares issued; 1,000 and 92,013,345 shares outstanding at September 30, 2004 and 2003, respectively)			—			1,071
	Additional paid-in capital			—			270,119
	Retained earnings (deficit)			(24,657	)		737,045
	Accumulated other comprehensive income (loss)			6,748			(3,127	)
	Treasury common stock, at cost, (none and 15,044,520 shares at September 30, 2004 and 2003, respectively)			—			(281,061	)

		Total shareholders’ equity		3,073,291			724,047

		Total liabilities and shareholders’ equity	$	4,435,772		$	1,949,991

See accompanying notes to consolidated financial statements

APOGENT TECHNOLOGIES INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS



									Year Ended September 30,
			August 2 through			October 1 through
			September 30, 2004			August 1, 2004			2003			2002

			(Successor)			(Predecessor)			(Predecessor)			(Predecessor)

			(In thousands)
Net sales			$	209,498		$	984,615		$	1,097,489		$	1,027,913
Cost of sales:
	Cost of products sold			146,979			518,946			571,510			516,416
	Restructuring charges			147			3,941			7,517			5,603

		Total cost of sales		147,126			522,887			579,027			522,019

		Gross profit		62,372			461,728			518,462			505,894
Selling, general and administrative expenses				51,680			254,005			278,367			256,692
Merger expenses				1,383			15,925			—			—
Restructuring charges and asset impairments				—			3,540			6,018			1,262

		Total selling, general and administrative expenses		53,063			273,470			284,385			257,954

		Operating income		9,309			188,258			234,077			247,940
Other income (expense):
	Interest expense, net			(1,894	)		(25,013	)		(46,227	)		(40,737	)
	Loss on the extinguishment of debt and settlement of securities lending agreement			(46,586	)		(345	)		(62,973	)		—
	Amortization of deferred financing fees			(834	)		(5,327	)		(4,046	)		(3,461	)
	Other, net			1,139			450			1,326			1,569

Income (loss) from continuing operations before income taxes				(38,866	)		158,023			122,157			205,311
Income tax provision (benefit)				(14,254	)		63,699			39,784			75,144

Net income (loss) from continuing operations				(24,612	)		94,324			82,373			130,167
Discontinued operations, net of income tax benefit				(45	)		(325	)		(94,119	)		(9,018	)

Net income (loss)			$	(24,657	)	$	93,999		$	(11,746	)	$	121,149

See accompanying notes to consolidated financial statements

APOGENT TECHNOLOGIES INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY AND OTHER COMPREHENSIVE INCOME


														Accumulated
		Parent						Additional						Other						Treasury			Total
		Company		Common		Preferred		Paid-in			Retained			Comprehensive			Deferred			Common			Shareholder’s
		Investment		Stock		Stock		Capital			Earnings			Loss			Compensation			Stock			Equity


		(In thousands)
Balance at September 30, 2001 (Predecessor)			—		1,059		—		254,637			627,642			(44,848	)		—			—			838,490
Comprehensive income:
	Net income		—		—		—		—			121,149			—			—			—			121,149
	Translation adjustment		—		—		—		—			—			22,247			—			—			22,247
	Adjustment to minimum pension liability, net of tax benefit of $4,120		—		—		—		—			—			(6,445	)		—			—			(6,445	)
	Amortization of gain on sale of interest rate swaps, net of tax benefit of $292		—		—		—		—			—			(440	)		—			—			(440	)
	Unrealized gain on security available for sale, net of tax of $2,044		—		—		—		—			—			3,067			—			—			3,067

Total comprehensive income			—		—		—		—			121,149			18,429			—			—			139,578
Treasury shares purchased					—		—		—			—			—			—			(19,986	)		(19,986	)
Shares issued in connection with stock options					11		—		10,282			—			—			—			—			10,293
Tax benefit related to stock options					—		—		6,763			—			—			—			—			6,763

Balance at September 30, 2002 (Predecessor)					1,070		—		271,682			748,791			(26,419	)		—			(19,986	)		975,138
Comprehensive income:
	Net loss				—		—		—			(11,746	)		—			—			—			(11,746	)
	Translation adjustment				—		—		—			—			34,315			—			—			34,315
	Unrealized gain on marketable security net of tax of $743				—		—		—			—			1,266			—			—			1,266
	Adjustment to minimum pension liability, net of tax benefit of $4,281				—		—		—			—			(6,456	)		—			—			(6,456	)
	Reclassification to income of unrealized gain on security available for sale, net of tax of $4,073				—		—		—			—			(5,833	)		—			—			(5,833	)

Total comprehensive income					—		—		—			(11,746	)		23,292			—			—			11,546
Treasury shares purchased					—		—		—			—			—			—			(269,462	)		(269,462	)
Shares issued in connection with stock options					—		—		(4,735	)		—			—			—			8,387			3,652
Shares issued in connection with employee stock purchase program					1		—		1,654			—			—			—			—			1,655
Tax benefit related to stock options					—		—		1,518			—			—			—			—			1,518

Balance at September 30, 2003 (Predecessor)					1,071		—		270,119			737,045			(3,127	)		—			(281,061	)		724,047
Comprehensive income:
	Net income				—		—		—			93,999			—			—			—			93,999
	Translation adjustment				—		—		—			—			19,775			—			—			19,775
	Unrealized loss on marketable security net of tax benefit of $1,304		—		—		—		—			—			(3,721	)		—			—			(3,721	)
	Adjustment to minimum pension liability, net of tax of $2,756				—		—		—			—			4,311			—			—			4,311

Comprehensive income through August 2, 2004 (Predecessor)			—		—		—		—			93,999			20,365			—			—			114,364
Treasury shares purchased					—		—		—			—			—			—			(109,437	)		(109,437	)
Deferred compensation			—		—		—		5,946			—			—			(5,946	)		—			—
Amortization of deferred compensation			—		—		—		—			—			—			1,155			—			1,155
Shares issued in connection with stock options			—		—		—		2,441			—			—			—			2,749			5,190


															Accumulated
		Parent							Additional						Other						Treasury			Total
		Company		Common			Preferred		Paid-in			Retained			Comprehensive			Deferred			Common			Shareholder’s
		Investment		Stock			Stock		Capital			Earnings			Loss			Compensation			Stock			Equity


		(In thousands)
Shares issued in connection with employee stock purchase program			—		—			—		995			—			—			—			49,751			50,746
Tax benefit related to stock options			—		—			—		9,398			—			—			—			—			9,398

Balance at August 2, 2004 (Predecessor)			—		1,071			—		288,899			831,044			17,238			(4,791	)		(337,998	)		795,463
Recapitalization at acquisition			795,463		(1,071	)		—		(288,899	)		(831,044	)		(17,238	)		4,791			337,998			—
Effect of push-down accounting of Fisher’s purchase price on Apogent’s net assets			2,295,737		—			—		—			—			—			—			—			2,295,737

Balance at August 2, 2004 (Successor)			3,091,200		—			—		—			—			—			—			—			3,091,200
Comprehensive (loss):
	Net income		—		—			—		—			(24,657	)		—			—			—			(24,657	)
	Translation adjustment		—		—			—		—			—			5,069			—			—			5,069
	Unrealized gain on marketable security, net of tax of $986		—		—			—		—			—			1,679			—			—			1,679

Comprehensive (loss) for 2 month period (Successor)			—		—			—		—			(24,657	)		6,748			—			—			(17,909	)

Balance at September 30, 2004 (Successor)		$	3,091,200	$	—		$	—	$	—		$	(24,657	)	$	6,748		$	—		$	—		$	3,073,291

See accompanying notes to consolidated financial statements

APOGENT TECHNOLOGIES INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS



											Year End September 30,
					August 2 through			October 1 through
					September 30, 2004			August 1, 2004			2003			2002

					(Successor)			(Predecessor)			(Predecessor)			(Predecessor)

					(In thousands)
Cash flows from operating activities:

	Net income (loss)				$	(24,657	)	$	93,999		$	(11,746	)	$	121,149
	Adjustments to reconcile net income to net cash provided by operating activities:
		Discontinued operations				45			325			94,119			9,018
		Depreciation and amortization				13,136			57,074			62,695			55,414
		Inventory step up				38,218			—			—			—
		Gain (loss) on sale of property, plant and equipment and write-offs				106			3,353			8,277			1,859
		Loss on extinguishment of debt and settlement of securities lending agreement				46,586			345			62,973			—
		Deferred income taxes				(11,929	)		34,649			2,919			24,753
		Other noncash expenses				(2,666	)		1,155			—			—
		Changes in assets and liabilities, net of effects of businesses acquired:
			Accounts receivable			(4,763	)		(3,192	)		2,672			10,358
			Inventories			1,256			(6,837	)		(3,577	)		(24,620	)
			Prepaid expenses and other current assets			243			(7,419	)		(519	)		(832	)
			Accounts payable			849			(7,618	)		(3,581	)		(1,759	)
			Income taxes payable			418			16,772			(33,675	)		(2,448	)
			Accrued payroll and employee benefits			8,419			2,255			1,394			(1,724	)
			Other current liabilities			(30,282	)		14,853			2,211			(8,992	)
			Net change in other assets and liabilities			6,976			(1,647	)		7,890			9,974

				Net cash provided by operating activities		41,955			198,067			192,052			192,150

Cash flows from investing activities:
	Capital expenditures					(5,164	)		(22,087	)		(53,278	)		(63,630	)
	Proceeds from sales of property, plant and equipment					62			2,929			4,206			5,007
	Net payment for businesses acquired					—			(41,983	)		(66,540	)		(139,735	)
	Proceeds from sale of security					—			—			57,174			—
	Proceeds from sale of discontinued operations					—			—			15,266			—
	Other investing activities					—			140			1,546			—

				Net cash used in investing activities		(5,102	)		(61,001	)		(41,626	)		(198,358	)

Cash flows from financing activities:
	Proceeds from revolving credit facility					—			161,300			931,506			358,500
	Principal payments on revolving credit facility					—			(484,406	)		(608,400	)		(567,000	)
	Proceeds from long-term debt					—			345,000			250,000			300,000
	Principal payments on long-term debt					(249,500	)		—			(340,026	)		(79,089	)
	Principal payments on securities lending					—			—			(57,174	)		—
	Premium paid on extinguishment of debt and settlement of securities lending					(29,792	)		(171	)		(60,978	)		—
	Financing fees paid					(10,248	)		(9,870	)		(14,885	)		(8,259	)
	Purchase of treasury stock					—			(109,437	)		(267,462	)		(19,986	)
	Proceeds from the exercise of stock options and stock purchase program					—			55,936			5,307			10,293
	Other financing activities					558			—			824			6,175
	Net increase in intercompany with parent					164,360			—			—			—

				Net cash provided by (used in) financing activities		(124,622	)		(41,648	)		(161,288	)		634

Effect of exchange rate changes on cash and cash equivalents						615			285			13,040			12,709

Net increase (decrease) in cash and cash equivalents						(87,154	)		95,703			2,178			7,135
Cash and cash equivalents at beginning of period						114,208			18,505			16,327			9,192

Cash and cash equivalents at end of period					$	27,054		$	114,208		$	18,505		$	16,327

Supplemental Cash Flow Information:
	Cash paid during the period for:
		Income taxes, net of refunds			$	347		$	12,352		$	42,942		$	39,513
		Interest			$	6,530		$	28,342		$	33,891		$	39,691

See accompanying notes to consolidated financial statements

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(In thousands except share and per share data or when otherwise indicated)


Note 1 —	Nature of Operations

Apogent Technologies Inc. (“Apogent” or the “Company”) was incorporated as a Wisconsin Corporation in 1993. Apogent is a developer and manufacturer of products for the scientific research and clinical laboratory markets. We report financial results on the basis of two business segments: a research group and a clinical group. Businesses in the research group engage in the manufacture, distribution and sale of products primarily to the research and clinical life science markets. The Company’s clinical group engages in the manufacture and sale of products primarily to the clinical and commercial laboratory market.

The Company serves scientists and lab technicians in the fields of life-science research, clinical diagnostics, and general scientific research for distributors, pharmaceutical and biotechnology companies, clinical, academic, research and industrial laboratories, and original equipment manufacturers.

On August 2, 2004 Apogent completed an approximately $4.0 billion combination with Fisher Scientific International Inc. (“Fisher Scientific” or “Fisher”) in a tax-free, stock-for-stock merger, including the assumption of approximately $1.0 billion of our debt by Fisher Scientific. Apogent shareholders received 0.56 shares of Fisher Scientific common stock for each share of Apogent common stock they owned. Upon completion of the merger, Apogent became a wholly-owned subsidiary of Fisher Scientific.

The merger is being accounted for as a purchase business combination in accordance with Statement of Financial Accounting Standards No. 141, “Business Combinations” (“SFAS 141”). The financial statements reflect the “push-down” method of accounting, resulting in a new basis of accounting for the “successor” period beginning August 2, 2004. Information relating to all “predecessor” periods prior to the combination is presented using Apogent’s historical basis of accounting. Assets and liabilities were recorded at their estimated fair values as of August 2, 2004, the date of the combination.


	*Merger with Fisher Scientific International Inc.*

The following table summarizes the purchase by Fisher of the outstanding shares of Apogent common stock and the estimated fair values of the assets acquired and liabilities assumed, net of cash and debt acquired. The estimates of fair value which have been “pushed down” and recorded in Apogent’s financial statements for the period beginning August 2, 2004 have been made based upon management estimates and third party valuations that have not been finalized. Accordingly, the allocation of the purchase price and the related fair values is preliminary and significant revisions may be required.


		(In millions)
Aggregate value of stock consideration(1)		$	2,947.0
Value of Apogent stock options assumed by Fisher(2)			144.2

	Aggregate consideration	$	3,091.2

The “push down” of the purchase price paid by Fisher and the allocation of the estimated fair value resulted in an allocation to identifiable intangible assets of approximately $1,181.5 million. The estimated fair value of intangible assets relates to trademarks, trade names, customer lists, supplier agreements and core technology.


	(1) Represents the value of 50.6 million shares of Fisher common stock, $0.01 par value, issued for the acquisition of the approximately 90.4 million shares of Apogent common stock outstanding on July 30, 2004. The price per share of Fisher stock of $58.20 was based upon the closing price on July 30, 2004.

	(2) Represents the estimated fair value, based upon a Black-Scholes valuation, of Fisher’s stock options issued for the conversion of approximately 11.2 million of Apogent stock options outstanding on July 30, 2004. The estimated fair value was calculated using a price of $58.20 for the Fisher common stock.

The “push down” of the purchase price paid by Fisher includes $45 million of direct merger costs, $9.7 million of termination benefits, and $8.5 million of exit costs associated with activities of the Company. Through September 30, 2004, $28.3 million of the direct merger costs and $3.5 million of the termination benefits were paid by Fisher on behalf of the Company and the resulting liability is reflected in Intercompany with Parent in the accompanying balance sheet. The unpaid direct merger, termination benefits, and exit costs outstanding as of September 30, 2004 is classified in accrued merger and integrations costs in the accompanying balance sheet.

Note 2 — Summary of Significant Accounting Policies


	*(a) Principles of Consolidation and Fiscal Year End*

The consolidated financial statements reflect the accounts of Apogent Technologies Inc. and its subsidiaries. The term “Company” or “Apogent” as used herein refers to Apogent Technologies Inc. and its subsidiaries and their respective predecessors, unless the context otherwise requires. All significant intercompany balances and transactions have been eliminated. The accounting policies of Apogent for the successor period have been conformed to those of its parent, Fisher Scientific International Inc., in accordance with SFAS Standards No. 141, Business Combinations.

Apogent holds an investment in a joint venture that is accounted for under the equity method of accounting. Currently, there are no differences between the cost of the joint venture and the underlying net assets of the investment, nor is there a lag in investee reporting or an alternative basis of accounting used.

The Company’s fiscal year ends on September 30. The fiscal years ended September 30, 2004, 2003, and 2002 are hereinafter referred to as “2004”, “2003”, and “2002”, respectively. Dollar references throughout these footnotes are in thousands, except per share amounts or as otherwise indicated.


*(b)*	*Cash Equivalents*

For purposes of reporting cash flows, cash and cash equivalents include investments in debt obligations with original maturities of three months or less. Interest income on cash deposits was $78 for the two-month successor period ended September 30, 2004 and $344 for the ten-month predecessor period ended August 1, 2004. Interest income on cash deposits was $365, and $1,073 for the years ended September 30, 2003, and 2002, respectively.


*(c)*	*Inventories*

Inventories are stated at the lower of cost or market. Elements of cost included in inventories are: raw materials, direct labor, and manufacturing overhead (which includes indirect labor, fringe benefits, consumable supplies, depreciation of production equipment, and tooling, and other costs incurred in the acquisition, production, and storage of goods held in inventory). Certain domestic inventories of approximately $52,246 at September 30, 2003, were valued on the last-in, first-out (LIFO) method. As of September 30, 2004, all inventories are valued on the first-in, first-out (FIFO) method.


*(d)*	*Securities*

When securities are purchased they are classified as held-to-maturity, available for sale, or trading securities. Held to maturity securities are those that the Company has the positive intent and ability to hold until maturity. Trading securities are those purchased and held with the intent to sell in the near term. Available for sale securities include both equity and debt securities that are held for an indefinite period but are neither held to maturity nor trading securities. At September 30, 2004, the Company held 692,506 shares of Inverness Medical Innovations, Inc. common stock classified as an available for sale security. Available for sale securities are reported at fair market value. Unrealized gains and losses for these securities are included in comprehensive income as a separate component of shareholders’ equity.

Net of tax unrealized gains on available for sale securities included in accumulated other comprehensive income during the two month successor period ended September 30, 2004 was $1.7 million.


*(e)*	*Property, Plant and Equipment*

Property, plant and equipment are stated at cost less accumulated depreciation. Depreciation is provided over the estimated useful lives of depreciable assets (generally 5 to 33 years for buildings and building improvements, and 3 to 12 years for machinery, equipment, and other) using the straight-line method. Construction in progress consists primarily of tooling, equipment, system implementation projects and leasehold improvements for which development has been initiated but the assets have not yet been placed in service. These capital projects are typically completed in less than one year and new projects continuously begin development. The Company assesses the recoverability of assets when events or changes in circumstances indicate that its carrying amount may not be recoverable. Recoverability is assessed by comparing the carrying amount of an asset or group of assets to future projected net undiscounted cash flows expected to be generated by that asset or group of assets. If such assets are considered impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair market value of the assets.

During the predecessor period, depreciation was provided over the estimated useful lives of depreciable assets (generally 5 to 45 years for land improvements, buildings and building improvements, and 3 to 12 years for machinery and equipment) using the straight-line method. Depreciation expense for the period from August 2, 2004 through September 30, 2004 was $7,739 and for the period from October 1, 2003 through August 1, 2004 was $38,283 and for the fiscal years ended September 30, 2003 and 2002 was $43,100 and $38,354, respectively.


*(f)*	*Goodwill*

In June 2001, the Financial Accounting Standards Board (“FASB”) issued Statement of Financial Accounting Standard No. 142, “Goodwill and Other Intangible Assets” (“SFAS 142”). SFAS 142 requires the use of a nonamortization approach to account for goodwill and indefinite-lived intangible assets. Under the nonamortization approach, goodwill and indefinite-lived intangible assets are not amortized but instead are reviewed for impairment and written down with a resulting charge to the results of operations in the period in which the recorded value of goodwill and indefinite-lived intangible assets exceeds its fair value. In accordance with SFAS 142, the Company performs its annual test for impairment as of September 30 each year. The Company completed its annual test for impairment as of September 30, 2004 and 2003 and determined that goodwill and indefinite-lived intangible assets were not impaired.


*(g)*	*Intangible Assets*

As of September 30, 2004, intangible assets with a finite useful life are amortized on a straight-line basis over their estimated useful lives, with periods ranging from 5 to 22 years. Intangible assets with an indefinite useful life are not amortized, but instead are reviewed for impairment. Through the successor period ended August 1, 2004, the Company amortized its finite useful lived intangible assets on a straightline basis over their estimated useful lives, with periods ranging from 1 to 40 years. The Company assesses the recoverability of its amortizable intangible assets in accordance with Statement of Financial Accounting Standards No. 144, Accounting for the Impairment or Disposal of Long-Lived Assets (“SFAS 144”) when events or changes in circumstances indicate that its carrying amount may not be recoverable. Recoverability is assessed by determining whether the amortization of the asset balance over its remaining life can be recovered through projected undiscounted cash flows of the acquired business. If projected undiscounted cash flows indicate that the unamortized asset will not be recovered, an adjustment would be made to reduce the asset to fair value. Cash flow projections are based on trends of historical performance and management’s estimate of future performance, giving consideration to existing and anticipated competitive and economic conditions.


*(h)*	*Revenue Recognition*

The Company recognizes revenue when persuasive evidence of a sales arrangement exists, the price to the buyer is fixed or determinable, title and risk of loss has been transferred to the customer and collectibility of the resulting receivable is reasonably assured. Large portions of the Company’s sales are sold through distributors. Revenues associated with sales to distributors are also recognized upon shipment of products when the risks and rewards of ownership of the product have passed. Sales incentives are offered to our customers based on sales volume requirements. These incentives are recorded initially based on estimates by the Company and accounted for as a reduction of sales in accordance with Emerging Issues Task Force (EITF) Issue No. 01-9, Accounting for Consideration Given by a Vendor to a Customer (Including a Reseller of the Vendor’s Products). Warranties and product returns are estimated and accrued for at the time sales are recorded. Service agreements on our equipment are typically sold separately from the sale of the equipment. Revenues on these service agreements are recognized ratably over the life of the agreement, typically one year, in accordance with FASB Technical Bulletin 90-1, Accounting for Separately Priced Extended Warranty and Product Maintenance Contracts.


*(i)*	*Income Taxes*

Income taxes are accounted for under the asset and liability method wherein deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income or other comprehensive income in the period that includes the enactment date.


*(j)*	*Research and Development Costs*

Research and development costs are charged to selling, general and administrative expenses in the period they are incurred.


*(k)*	*Foreign Currency Translation*

The functional currency for the Company’s foreign operations is the applicable local currency. The translation from the applicable foreign currencies to U.S. dollars is performed for balance sheet accounts using current exchange rates in effect at the balance sheet date and for revenue and expense accounts using a weighted average exchange rate during the period. The gains or losses, net of applicable deferred income taxes, resulting from such translations are included in shareholders’ equity. Gains and losses resulting from foreign currency transactions are included in net income. Foreign currency transaction gains(losses) for the two-month successor period ended September 30, 2004 and ten-month predecessor period ended August 1, 2004 was $22 and ($1,830), respectively. Foreign currency transaction gains (losses) for the years ended 2003, and 2002 were approximately ($392), and $354, respectively.


*(l)*	*Pensions*

The Company and its subsidiaries have various pension plans covering approximately 42% of our domestic employees. U.S. pension obligations are funded by payments to pension fund trusts. Other foreign pensions are funded as expenses are incurred. The Company’s policy with respect to its defined benefit plans is generally to fund the minimum amount required under the Employee Retirement Income Security Act of 1974, as amended, for plans subject thereto.

We account for our defined benefit pension plans using actuarial models required by SFAS No. 87, “Employers’ Accounting for Pensions.” These models use an attribution approach that generally spreads individual events over the service lives of the employees in the plan. Examples of “events” are plan amendments and changes in actuarial assumptions such as discount rate, rate of compensation increases and mortality. See the next paragraph for information on the expected long-term rate of return on pension

plan assets. The principle underlying the required attribution approach is that employees render service over their service lives on a relatively smooth basis and therefore, the income statement effects of pensions are earned in, and should follow, the same pattern.

One of the principal components of the net periodic pension (income)/cost calculation is the expected long-term rate of return on plan assets. We use long-term historical actual return information, the targeted mix of investments that comprise plan assets, and future estimates of long-term investment returns to develop our expected return on plan assets. The required use of an expected long-term rate of return on plan assets may result in recognized pension income that is greater or less than the actual returns of those plan assets in any given year. Over time, however, the expected long-term returns are designed to approximate the actual long-term returns and therefore result in a pattern of income and expense recognition that more closely matches the pattern of the services provided by the employees. Our mix of pension plan investments among asset classes also affects the long-term expected rate of return on plan assets. Our current target asset mix used in determining the expected return is 60% equities and 40% fixed income securities.

Differences between actual and expected returns are recognized in the calculation of net periodic pension (income)/cost over the average remaining expected future working lifetime, which is approximately fifteen years, of active plan participants as provided for in accordance with generally accepted accounting principles.

The discount rate assumptions used for pension accounting reflect the prevailing rates available on high-quality, fixed-income debt instruments with terms that match the average expected duration of our defined benefit pension plan obligations. We use the Moody’s Aa-rated long-term corporate bonds, which match the average duration of our pension plan liability of approximately 20 years.

The assumed rate of compensation increase is another significant assumption used in the actuarial model for pension accounting and is determined based upon our long-term plans for such increases.

As required by SFAS No. 87, for instances in which pension plan assets are less than the accumulated benefit obligation (ABO) as of the end of the reporting period (defined as an unfunded ABO position), a minimum liability equal to this difference is established in the consolidated balance sheet. The ABO is the present value of the actuarially determined company obligation for pension payments assuming no further salary increases for the employees. The offset to the minimum liability is a charge to equity, net of tax. In addition, any prepaid pension asset in excess of unrecognized prior service cost must be reversed through a net-of-tax charge to equity. The charge to equity is included in the accumulated other comprehensive gains and (losses) not affecting retained earnings section of the stockholders’ equity in the consolidated balance sheet.


*(m)*	*Deferred Financing Fees*

Deferred financing fees are capitalized and amortized as a separate component of other income over the life of the related debt agreements.


*(n)*	*Advertising Costs*

Advertising costs included in selling, general and administrative expenses are expensed as incurred. Advertising costs for the two-month successor period ended September 30, 2004 and the ten-month predecessor period ended August 1, 2004 was $1,007 and $4,892, respectively. Advertising costs for the years ended 2003 and 2002 were $6,271, and $6,626, respectively.


*(o)*	*Use of Estimates*

The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the

financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.


*(p)*	*Derivative Financial Instruments*

In the normal course of business, we manage risks associated with foreign exchange and interest rates through a variety of strategies, including the use of hedging transactions, executed in accordance with our policies. Our hedging transactions include, but are not limited to, the use of derivative instruments. As a matter of policy, we do not use derivative instruments unless there is an underlying exposure. Any change in the value of our derivative instruments would be substantially offset by an opposite change in the value of the underlying hedged items. We do not use derivative instruments for trading or speculative purposes.

The Company uses interest rate swaps, from time to time, to manage its interest rate risk. The net amounts to be paid or received under interest rate swap agreements designated as hedges are accrued as interest rates change and are recognized over the life of the swap agreements, as an adjustment to interest expense from the underlying debt to which the swap is designated. The related amounts payable to, or receivable from, the counterparties are included in other current assets or other current liabilities. There were no interest rate swaps outstanding as of September 30, 2004.

The Company, from time to time, enters into foreign currency options to hedge the exposure from adverse changes in foreign currency rates. The purpose of the Company’s foreign currency hedging activities is to protect against risk that eventual cash flows from foreign activities will be adversely affected by changes in exchange rates and the effect of related changes on payments on long-term debt denominated in foreign currencies. Recognized and unrecognized gains or losses on foreign currency contracts entered into to hedge long-term debt are recorded as “other income”. The Company has not entered into any foreign currency options to hedge against exposure from operations in fiscal 2004.

The Company applies Financial Accounting Standards Board Statement No. 133, as modified by FASB Statement No. 138. These standards establish accounting and reporting standards for derivative instruments, including certain derivative instruments embedded in other contracts, and hedging activities. They require the recognition of all derivative instruments as assets or liabilities in the balance sheet at fair value. The accounting treatment of changes in fair value is dependent upon whether or not a derivative instrument is designated as a hedge and if so, the type of hedge. For derivatives designated as a cash flow hedge, changes in fair value are recognized in other comprehensive income until the hedged item is recognized in earnings.


*(q)*	*Environmental Expenditures*

Environmental expenditures that relate to current ongoing operations or to conditions caused by past operations are expensed. The Company determines its liability on a site-by-site basis and records a liability at the time when the liability is probable and can be reasonably estimated. The estimated liability is not reduced for possible recoveries from insurance carriers.


*(r)*	*Reclassifications*

Certain reclassifications to prior year balances have been made to conform to current year presentations.

Note 3 — Concentration of Credit Risk

One of the Company’s customers, VWR, accounted for approximately 9%, 11% and 10% of the Company’s net sales for fiscal years 2004, 2003, and 2002, respectively. Accounts receivable from this customer accounted for 14% and 11% of the outstanding consolidated accounts receivable balances at September 30, 2004 and 2003, respectively.

Note 4 — Inventories

Inventories at September 30, 2004 and 2003 consisted of the following:



	September 30,

	2004		2003

	(Successor)		(Predecessor)
Raw materials and supplies	$	70,749	$	66,816
Work in process		19,790		19,531
Finished goods		159,085		120,202

	$	249,624	$	206,549

In connection with the acquisition, the accounting policies of Apogent for the successor period have been conformed to those of its parent, Fisher, in accordance with SFAS Standards No. 141, Business Combinations. Accordingly, inventories at August 2, 2004 included an adjustment of approximately $67.0 million to its fair value. As of September 30, 2004, the Company uses the first-in, first-out (FIFO) method for accounting for its inventories. The Company used the last-in, first-out (LIFO) method to value inventory at certain subsidiaries through August 1, 2004. Inventories would have been $7,303 higher at September 30, 2003, if the first-in, first-out (FIFO) method had been used as of September 30, 2003.

Note 5 — Property, Plant, and Equipment

Major classifications of property, plant, and equipment at September 30, 2004 and 2003 are as follows:



	September 30,

	2004			2003

	(Successor)			(Predecessor)
Land and land improvements	$	14,035		$	13,917
Buildings and building improvements		83,365			123,804
Machinery and equipment		163,818			418,865
Construction in progress		14,044			22,671

		275,262			579,257
Less: Accumulated depreciation		(7,978	)		(296,505	)

	$	267,284		$	282,752

Note 6 — Goodwill and Other Intangible Assets

Intangible assets were as follows:



		September 30,				Weighted
						Average
		2004		2003		Life(a)

		(Successor)		(Predecessor)		(Successor)
Amortizable intangible assets
	Developed technology (net of accumulated amortization of $2,922 and $37,161 at September 30, 2004 and September 30, 2003, respectively)	$	173,912	$	67,396		10 years
	Patents and Trademarks (net of accumulated amortization of $28,180 at September 30, 2003)		—		89,247
	Customer lists, non-compete agreements, and other (net of accumulated amortization of $1,745 and $9,500 at September 30, 2004 and September 30, 2003, respectively)		218,542		22,849		21 years

		$	392,454	$	179,492

Amortization of intangible assets for the two-month successor period ended September 30, 2004 and for the ten-month predecessor period ended August 1, 2004 was $4,667 and $13,464, respectively. Amortization of intangible assets was $15,549, and $13,599 for the years ended September 30, 2003, and 2002, respectively. Amortization expense relating to the existing identifiable intangible assets for each of the next five years (beginning with fiscal 2005) is expected to be approximately $28 million annually for the next five years. As of September 30, 2004, the Company had indefinite-lived intangible assets of approximately $784 million. Indefinite-lived intangible assets consist of tradenames fair valued through the Company’s combination with Fisher.

The changes in the carrying amount of goodwill for the years ended September 30, 2004 and 2003 are as follows:


	Clinical			Research
	Group			Group			Consolidated

Balance at September 30, 2002 (Predecessor)	$	549,039		$	480,552		$	1,029,591
Goodwill acquired during the year		13,094			17,314			30,408
Goodwill written off related to disposal of ABI and BioRobotics		(54,421	)		(30,827	)		(85,248	)
Change in purchase price of prior year acquisition		5,254			463			5,717
Effect of change in foreign currencies		250			18,525			18,775

Balance at September 30, 2003 (Predecessor)		513,216			486,027			999,243
Goodwill acquired through August 1, 2004 (Predecessor)		6,748			2,439			9,187
Change in purchase price of prior year acquisition		—			1,627			1,627
Effect of change in foreign currencies		114			11,834			11,948

Balance at August 1, 2004 (Predecessor)		520,078			501,927			1,022,005
Effect of push-down accounting of Fisher’s purchase price on Apogent’s net assets		612,038			800,614			1,412,652

Balance at September 30, 2004 (Successor)	$	1,132,116		$	1,302,541		$	2,434,657

During fiscal 2003, the Company included approximately $100.4 million in goodwill and intangibles in the calculation of the loss on the sales of Applied Biotech, BioRobotics and Vacuum Process Technology.

During fiscal 2002 the Company included approximately $21.3 million in goodwill and intangibles in the calculation of the estimated loss on sale of Vacuum Process Technology.

Note 7 — Long-Term Debt

Long-term debt at September 30, 2004 and 2003 consisted of the following:



	September 30,

	2004			2003

	(Successor)			(Predecessor)
Revolving Credit Facility	$	—		$	323,106
8% Senior Notes, net of discount		45			8,015
2.25% Senior Convertible Contingent Debt Securities		956			300,000
2.25% Convertible Senior Debentures		298,836			—
6.5% Senior Subordinated Notes		—			250,000
Floating Rate Convertible Senior Debentures		344,550			—
Sellers’ Notes		—			1,531
Sale/ Leaseback Obligation		10,541			11,012
Capital leases and other		11,992			13,407

		666,920			907,071
Less: Current portion of debt		(12,350	)		(15,082	)

	$	654,570		$	891,989

Revolving Credit Facility: In connection with the acquisition of the Company by Fisher, the Revolving Credit Facility was terminated.

On July 29, 2003, we and three of our domestic subsidiaries acting as co-borrowers, entered into a new $500 million revolving credit facility that had a scheduled maturity of July 29, 2008, and terminated our former revolving credit facility, as amended, that was scheduled to mature on December 1, 2005. The new revolving credit facility contains essentially the same terms and conditions as our previous credit facility, as amended. However, unlike the previous credit facility, the new credit facility includes subsidiary co-borrowers and permits us to make restricted payments, including dividends and stock repurchases under our stock repurchase program, subject to a limit on restricted payments made from and after July 29, 2003 of $200 million plus an amount equal to 50% of our quarterly consolidated net income, for the fiscal quarters ending June 30, 2003 and thereafter. In addition, the new credit facility provides for a $200 million limit on foreign currency loans compared to the $100 million foreign currency borrowing limit under the old revolving credit facility. The new revolving credit facility provides for an annual interest rate equal to, at our option, either: (a) ABR (a floating rate-based interest calculation) plus 0% to 0.625% (the “Revolving Loan ABR Margin”), or (b) the Eurodollar Rates plus 0.625% to 1.625% (the “Revolving Eurodollar Rate Margin”). We also pay a facility fee of 0.125% to 0.375% for all commitments from the lenders, whether drawn or undrawn, and a utilization fee of 0.25% per annum if more than 50% of the facility is drawn. The rate applicable with regard to each of the Revolving Loan ABR Margin, the Revolving Loan Eurodollar Margin, and the facility fee depend upon our senior, unsecured long-term credit rating from S&P and Moody’s. Based upon our current credit rating, the Revolving Loan ABR Margin, the Revolving Loan Eurodollar Margin, and the facility fee would be 0.25%, 1.25%, and 0.25%, respectively. As noted, our new revolving credit facility also provides for a multi-currency sub-facility providing up to $200 million in sub-commitments in non-dollar currencies. Terms and conditions on the multi-currency subfacility are to be agreed upon between JPMorgan Chase and the lenders providing funding under such subfacility. We may not exceed a total of $500 million in dollar and non-dollar commitments under this facility. Our new revolving credit facility also provides for the issuance of letters of credit, for our benefit or the benefit of our subsidiaries, as required in the ordinary course of business as part of the working capital line. As of September 30, 2003, we had available borrowing capacity under our

revolving credit facility of approximately $170 million, but were limited to borrowing approximately $130 million by the revolving credit facility’s covenants (excluding borrowings used to repay other indebtedness). There was also $6.5 million of reserved borrowing capacity for standby letter of credit obligations, as of September 30, 2003. Proceeds from the Revolving Credit Facility were used to pay and replace the prior revolving credit facility. As a result, the Company wrote off deferred financing fees (approximately $2.0 million) associated with the previous credit facility.

Floating Rate CODES: On December 17, 2003, Apogent issued $300 million principal amount of its Floating Rate Senior Convertible Contingent Debentures due 2033 (Floating Rate CODES), and on December 30, 2003, Apogent issued an additional $45 million principal amount of Floating Rate CODES.

Apogent completed an exchange offer for its $345 million aggregate principal amount of Floating Rate CODES. The exchange offer for the Floating Rate CODES aligned the conversion terms of Apogent’s convertible debt with Fisher’s currently outstanding convertible debt. 99.9 percent of the outstanding principal amount of the Floating Rate CODES were tendered for exchange with a like principal amount of Floating Rate Convertible Senior Debentures and an exchange fee of 0.50 percent of principal amount of securities tendered. In addition, Apogent paid a consent fee of 0.60 percent to not register the notes as required per the original registration rights agreement. Neither Fisher nor Apogent received any proceeds from the issuance of the new debentures in the exchange offer.

The Floating Rate Convertible Senior Debentures bear interest at a floating rate equal to the 3-month LIBOR minus 125 basis points (but not less than 0% per annum), payable in cash. The securities will be convertible into 5.8 million shares of Fisher common stock using a conversion price of $59.09 per share of common stock, subject to adjustment in certain circumstances. In connection with the acquisition of the Company by Fisher, Apogent made an exchange offers for up to $345.0 million of our Floating Rate CODES for a like principal amount of Floating Rate Convertible Senior Debentures due 2033.

8% Senior Notes: On April 4, 2001 the Company issued $325.0 million of unsecured senior notes in a private placement with exchange and registration rights, and in August 2001 we completed a registered exchange of the privately placed notes for similar notes that had been registered with the SEC. The notes were offered at a discount of approximately $1.5 million. They will mature on April 1, 2011. Interest is fixed at an annual rate of 8% and is payable on April 1 and October 1 of each year, beginning on October 1, 2001. The notes are redeemable by the Company at any time in whole, or from time to time in part, at a price equal to the greater of (i) 100% of the principal amount of the notes to be redeemed or (ii) the sum of the present values of the remaining scheduled payments of principal and interest thereon (exclusive of interest accrued to the date of redemption) discounted to the date of redemption on a semiannual basis at the applicable Treasury Yield (as defined in the bond agreement) plus 35 basis points, plus accrued interest to the date of redemption. The Company used the proceeds from the issuance to repay all of its Term Loan Facility ($300 million) and a portion of its revolving credit facility. The notes are guaranteed by the Company’s material U.S. subsidiaries, which also guarantee the Company’s obligations under its revolving credit facility.

On September 16, 2003, the Company announced a cash tender offer for its $325.0 million principal amount of 8% Senior Notes due 2011 (the “Notes”). Apogent received and settled tenders for a total of $318.0 million principal amount of Notes, representing approximately 97.8% of the aggregate principal amount of Notes outstanding prior to the tender offer. The one-time costs associated with this tender were approximately $59.6 million which consisted of a net premium paid to extinguish the debt (approximately $55.0 million), the write-off of deferred financing fees (approximately $2.1 million), the write-off of the unamortized discount (approximately $1.2 million), and other expenses related to the tender offer (approximately $1.3 million). An additional $7.0 million of Notes were repurchased in September 2004.

Senior Convertible Contingent Debt: On October 10, 2001, we issued $300.0 million of 2.25% Senior Convertible Contingent Debt Securities due 2021 (“2.25% CODES”). The CODES have a fixed interest rate of 2.25% per annum. Interest is payable on April 15 and October 15 of each year. We also must pay contingent interest during any six-month period if the average trading price of the CODES during a specified period of five trading days preceding the relevant six-month period is above specified levels. The

CODES will mature on October 15, 2021. The CODES are convertible, subject to certain conditions (based upon specified factors including but not limited to the sale price of our common stock, trading prices of the CODES, maintenance of our credit ratings, and the occurrence of specified corporate transactions, including certain repurchases of our common stock), into Fisher common stock at a price of approximately $54.45 per share. We may redeem some or all of the CODES on or after October 20, 2004. The holders may require us to purchase all or a portion of their CODES on October 20, 2004 and on October 15, 2006, 2011 and 2016, or subject to specified exceptions, upon a change of control event. Certain of our subsidiaries guarantee our obligations under the CODES.

In connection with its merger with Fisher, Apogent made an exchange offer for up to $300.0 million of our 2.25% CODES for a like principal amount of 2.25% Convertible Senior Debentures due 2021 and an exchange fee of 0.50 percent of principal amount of securities tendered. Apogent completed the exchange offer for its $300 million aggregate principal amount of 2.25% CODES. The exchange offer aligned the conversion terms of Apogent’s convertible debt with Fisher’s currently outstanding convertible debt. 99.6 percent of the outstanding principal amount of the 2.25% CODES were tendered for exchange with a like principal amount of 2.25% Convertible Senior Debentures. Neither Fisher nor Apogent received any proceeds from the issuance of the new debt securities in the exchange offer.

On September 20, 2004, the Company issued a notice for redemption of approximately $298.8 million of the 2.25% Convertible Senior Debentures due 2021 and approximately $1.0 million of the 2.25% CODES due 2021 for cash at a price equal to 100% of the principal amount plus accrued and unpaid interest and contingent interest, as defined in the agreements. Note holders had the option of converting their notes until October 18, 2004. Approximately $295.7 million of the notes were converted. Notes which were not converted, were redeemed on October 20, 2004. Principally all of the notes which were converted were settled in cash.

6 1/2 Senior Subordinated Notes: On June 2, 2003, the Company issued $250 million aggregate principal amount of 6 1/2% senior subordinated notes due 2013. Interest is fixed at an annual rate of 6.5% and is payable on May 15 and November 15 of each year, beginning on November 15, 2003. Interest will accrue from June 2, 2003. We may redeem some or all of these notes at any time on or after May 15, 2008. After May 15, 2008, the notes are redeemable at 103.250%, 102.167%, 101.083%, and 100.000% of their principal amount plus accrued interest and any liquidated damages, if redeemed during the twelve-month period beginning on May 15 of 2008, 2009, 2010, and 2011 and thereafter, respectively. Prior to May 15, 2006 and subject to satisfaction of specified conditions, we may redeem up to 35% of the aggregate principal amount of the notes with the net cash proceeds of certain equity offerings at a redemption price of 106.5% plus accrued and unpaid interest and other charges. The holders may require the Company to purchase all or a portion of their notes at 101% upon a change of control event. These notes are Apogent Technologies Inc.’s general unsecured obligations and are guaranteed on a senior subordinated basis by our domestic subsidiaries that have guaranteed, and our subsidiaries that will in the future guarantee, obligations under our revolving credit facility. The notes and the guarantees rank junior in right of payment to all of the Company’s and each subsidiary guarantor’s existing and future senior debt and rank pari passu in right of payment with all of the Company’s and each subsidiary guarantor’s senior subordinated debt.

In connection with its merger with Fisher, Apogent completed a cash tender offer for the $250 million aggregate principal amount of 6 1/2% senior subordinated notes due 2013. Apogent accepted for payment $249.6 million aggregate principal amount representing 99.8 percent of the outstanding principal amount of the 6 1/2% senior subordinated notes due 2013. The purchase price for the notes was $1,107.50 in cash per $1,000 principal amount, plus accrued and unpaid interest. A concurrent consent solicitation amended the indenture for any 6 1/2% senior subordinated notes that remained outstanding to eliminate certain restrictive covenants in that indenture. On August 3, 2004 Fisher issued and sold pursuant to Rule 144A $300 million of 6 3/4% senior subordinated notes due 2014. The proceeds from this offering were used to repay our 6 1/2% senior subordinated notes due 2013.

Sellers’ Notes: In connection with certain acquisitions, the Company has issued notes payable to the related sellers. The notes bear interest of 5% to 6% and mature at various dates through May 2005. As of September 30, 2004 and 2003, only one seller note remained outstanding (approximately $1.5 million). The note is redeemable by the holder, subject to certain time restrictions. The note is unsecured. However in certain instances, it is guaranteed by a subsidiary of the Company.

Sale/ Leaseback: On December 22, 1988, we completed the sale and leaseback (the “Sale/ Leaseback”) of our then principal domestic manufacturing and office facilities with an unaffiliated third party. The proceeds of $22.5 million (net of approximately $1.1 million in fees) were used to retire debt. The transaction has been accounted for as a financing for financial statement purposes and as a sale for income tax purposes. The financing obligation is being amortized over the initial 25-year lease term.

We pay all costs of maintenance and repair, insurance, taxes, and all other expenses associated with the properties. In addition, each of the leases is unconditionally guaranteed by us.

The initial term of each lease is 25 years with five five-year renewal options. The initial aggregate annual payments relating to Apogent under the leases were $1.7 million payable monthly in advance. On the fifth anniversary of the leases and every five years thereafter (including renewal terms), the rent is increased by the percentage equal to 75% of the percentage increase in the Consumer Price Index over the preceding five years. The percentage increase to the rent in any five-year period will be capped at 15%. Beginning January 1, 2004 annual payments increased to $2.4 million.

We have the option to purchase the facilities according to the terms of any bona fide offer received by the lessor from a third party (the “Third Party Offer”) at any time during the term of the leases. The purchase price upon exercise of the option will be an amount equal to the purchase price contained in the Third Party Offer. We also have the option to purchase the facilities, subject to complying with the notice provision in the leases, on any date between June 1, 2008 and May 31, 2009. The purchase price upon the exercise of the option is the greater of the fair market value of the leased premises or the sum of the landlord’s acquisition cost for the leased premises and any prepayment premiums that would be payable under the landlord’s financing for the premises.

In the event of a breach of certain covenants which include, subject to certain exceptions, restrictions on our and our subsidiaries’ incurrence of certain additional indebtedness, payment of dividends or the making of other distributions or the repurchase of our capital stock, or the creation of liens on our respective properties, we must cause each subsidiary to make a rejectable offer to the lessor to purchase its facility. If the lessor accepts the rejectable offer, each subsidiary will pay to the lessor a formula price based upon the lessor’s equity in the property and the lessor’s pre-payment premium to its lender. We may also be obligated to repurchase the property upon the occurrence of certain other events.

Securities Lending Agreement: On September 29, 1999, the Company purchased a United States Treasury Bond (“Treasury”) with a par value of $50 million, an interest rate of 6.15% and a maturity date of August 15, 2029. Concurrent with the purchase of the Treasury, the Company loaned the security to an unrelated third party for a period of 23 years. In exchange for the loaned Treasury, the Company received collateral equal to the market value of the Treasury on the date of the loan, and adjusted on a weekly basis. This securities lending transaction was related to the Company’s lending policy by fixing $50 million of its floating rate debt. For a period of five years, the Company was obligated to pay a rebate on the loaned collateral at an annual fixed rate of 6.478% and is entitled to receive a fee for the loan of the security at a floating rate equal to LIBOR minus .75%. Thereafter, the Company was required to pay the unrelated third party a collateral fee equal to the one-week general collateral rate of interest (as determined weekly in good faith by the unrelated third party, provided that such rate could not exceed the federal funds rate in effect as of the day of determination plus .25%) and the Company received all distributions made on or in respect to the Treasury.

On September 19, 2003, Apogent settled its obligations under its Securities Lending Agreement and terminated the arrangement. The one-time costs associated with the termination of this arrangement were approximately $1.4 million and consisted of premium paid to extinguish the debt (approximately

$6.0 million), the write-off of deferred financing fees (approximately $2.1 million) offset by a gain on the sale of the Treasury security (approximately $6.7 million). This transaction was accounted for as a secured borrowing under SFAS No. 140.

Maturities of Long-Term Debt: As of September 30, 2004, maturities of long-term debt, including capital leases and sale and leaseback arrangements, are as follows:


Fiscal

2005	$	12,350
2006		752
2007		759
2008		880
2009		1,028
Thereafter		651,151

	$	666,920

Note 8 — Income Taxes

The income tax expense (benefit) for the successor and predecessor periods ended September 30, 2004 and August 1, 2004 and fiscal years ended 2003 and 2002 is allocated as follows:


	August 2 Through			October 1 Through
	September 30, 2004			August 1, 2004			2003			2002

	(Successor)			(Predecessor)			(Predecessor)			(Predecessor)
Income from continuing operations	$	(14,254	)	$	63,699		$	39,784		$	75,144
Discontinued operations		(183	)		—			(24,952	)		(5,199	)
Shareholders’ equity for unrealized gain on security available for sale		(436	)		(743	)		(3,330	)		2,044
Shareholders’ equity for cumulative effect of accounting changes for cash flow hedge		—			—			—			—
Shareholders’ equity for interest rate swap agreements		—			—			—			(292	)
Shareholders’ equity for pension		—			2,756			(4,281	)		(4,120	)
Shareholders’ equity for compensation expense for tax purposes in excess of amounts recognized for financial reporting purposes		—			(9,398	)		(1,518	)		(6,763	)

	$	(14,873	)	$	56,314		$	5,703		$	60,814

Income tax expense (benefit) attributable to income from continuing operations consists of:


		Current			Deferred			Total

Successor period ended September 30, 2004:
	U.S., state and local	$	(5,321	)	$	(11,354	)	$	(16,675	)
	Foreign		2,996			(575	)		2,421

		$	(2,325	)	$	(11,929	)	$	(14,254	)

Predecessor period ended August 1, 2004:
	U.S., state and local	$	18,521		$	37,526		$	56,047
	Foreign		10,529			(2,877	)		7,652

		$	29,050		$	34,649		$	63,699

Year ended September 30, 2003:
	U.S., state and local	$	2,551		$	27,380		$	29,931
	Foreign		10,228			(375	)		9,853

		$	12,779		$	27,005		$	39,784

Year ended September 30, 2002:
	U.S., state and local	$	54,635		$	11,068		$	65,703
	Foreign		10,459			(1,018	)		9,441

		$	65,094		$	10,050		$	75,144

Income tax expense attributable to income from continuing operations was $(14,254), for the successor period ended September 30, 2004 and $63,699 for the ten month predecessor period ended August 2, 2004. Income tax expense attributable to income from continuing operations was $39,784, and $75,144, in 2003, and 2002, respectively. Income tax expense differed from the amounts computed by applying the U.S. Federal income tax rate of 35% to income from continuing operations before income taxes and discontinued operations for the successor and predecessor period in 2004, 2003, and 2002 as a result of the following:


		August 2 Through			October 1 Through
		September 30, 2004			August 1, 2004			2003			2002

		(Successor)			(Predecessor)			(Predecessor)			(Predecessor)
Computed “expected” tax expense		$	(13,603	)	$	55,308		$	42,755		$	71,859
Increase (reduction) in income taxes resulting from:
	Utilization of prior year foreign tax credits		—			—			(2,195	)		—
	State and local income taxes, net of Federal income tax benefit		(499	)		4,527			5,114			7,205
	Foreign income taxed at rates lower than U.S. Federal income		(704	)		(979	)		(1,898	)		(2,650	)
	Extraterritorial income benefit		(379	)		(1,896	)		(2,735	)		(2,800	)
	Non-deductible transaction costs		486			5,574			—			—
	Other, net		445			1,165			(1,257	)		1,530

		$	(14,254	)	$	63,699		$	39,784		$	75,144

The domestic and foreign components of income from continuing operations before income taxes and discontinued operations are as follows:


	August 2 Through			October 1 Through
	September 30, 2004			August 1, 2004		2003		2002

	(Successor)			(Predecessor)		(Predecessor)		(Predecessor)
United States	$	(47,794	)	$	133,363	$	88,582	$	168,673
Foreign		8,928			24,660		33,575		36,638

Income before income taxes and discontinued operations	$	(38,866	)	$	158,023	$	122,157	$	205,311

The significant components of deferred income tax benefit attributable to income from continuing operations for 2004 successor and predecessor periods, 2003, and 2002 are as follows (in thousands):


	August 2 Through			October 1 Through
	September 30, 2004			August 1, 2004		2003			2002

	(Successor)			(Predecessor)		(Predecessor)			(Predecessor)
Deferred (benefit) tax expense (exclusive of the effects of other components listed below)	$	(11,929	)	$	34,649	$	29,200		$	7,625
Increase (decrease) in the valuation allowance for deferred tax assets		—			—		(2,195	)		2,425

	$	(11,929	)	$	34,649	$	27,005		$	10,050

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at September 30, 2004 and 2003 are presented below:


		2004			2003

		(Successor)			(Predecessor)
Deferred tax assets:
Inventories		$	7,426		$	6,482
Compensation			4,880			3,541
Sale/ Leaseback			4,282			4,282
Employee benefits			706			918
Capital loss, tax credit and net operating loss carryforwards			16,773			36,105
Pension			5,474			6,277
Warranty and other accruals			7,485			6,811

	Total gross deferred tax assets		47,026			64,416
	Less valuation allowance		(16,773	)		(36,105	)

	Net deferred tax assets		30,253			28,311

Deferred tax liabilities:
Depreciation			(32,361	)		(28,682	)
Purchase accounting			(187,109	)		(112,813	)
Unrealized appreciation on securities available for sale			—			(743	)
Other			(19,910	)		(8,448	)

	Total deferred tax liabilities		(239,380	)		(150,686	)

	Net deferred tax liability	$	(209,127	)	$	(122,375	)

The change in the net deferred tax liability contains $60,109 of deferred tax liabilities related to purchase accounting, an increase of $1,475 due to foreign exchange adjustments, a reduction of $743 related to the sale of a security available-for-sale and $2,756 of deferred tax liabilities related to pensions.

The valuation allowance for deferred tax assets as of October 1, 2002 was $3,839. The net change in the total valuation allowance for the years ended September 30, 2004 and 2003 was a decrease of $19,332 and an increase of $32,226, respectively. The valuation allowance relates primarily to U.S. capital loss carryforwards. Management is unable to conclude that there will be sufficient capital gains generated in the near term to use to offset these losses. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities and projected future taxable income in making this assessment.

At September 30, 2004, the Company has an aggregate of $376 of foreign net operating loss carryforwards from certain jurisdictions, the majority of which have no expiration. The Company has an aggregate of $37,724 of state net operating loss carryforwards that expire between 2006 and 2018. The Company has an aggregate of $40,724 of capital loss carryforwards that expire in 2008.

Accumulated earnings of foreign subsidiaries at September 30, 2004, 2003 and 2002 of approximately $66,000, $48,000 and $35,000, respectively, have been reinvested in the business and no provision for income taxes has been made for the repatriation of these earnings.

Note 9 — Employee Benefit Plans

Pension and Other Post-retirement Benefits: The Company has four defined benefit pension plans covering approximately 42% of its U.S. employees. The Company also has three defined benefit plans covering certain international subsidiaries of the Company. The benefits are generally based on various formulas, the principal factors of which are years of service and compensation. The Company’s funding policy is to generally make the minimum annual contributions required by applicable regulations. Plan assets are invested primarily in U.S. stocks, bonds and international stocks. In addition to the defined benefit plans, the Company provides certain health care benefits for eligible retired employees, which are funded as costs are incurred. Certain employees who reached the age of 55 prior to January 1, 1996 will become eligible for post-retirement health care only if they reach retirement age while working for the Company. The Company accrues, as current costs, the future lifetime retirement benefits for both qualifying active and retired employees and their dependents. The post-retirement health care plans for subsidiaries of the Company and certain divested operations are generally contributory, with retiree contributions adjusted annually. In 1986, the Company instituted a policy with respect to post-retirement medical premiums whereby the Company’s contributions were frozen at the levels equal to the Company’s contribution on December 31, 1988, except where collective bargaining agreements prohibited such a freeze.

The following assumptions were used in determining the funded status of the Company’s defined benefit plans:


	*Defined Benefit Plan Assumptions*


	2004			2003

Discount rate		6.00	%		6.00	%
Rate of increase in compensation levels		4.00	%		4.00	%
Expected long-term rate of return on plan assets		8.50	%		8.50	%

The following assumptions were used in determining the accumulated post-retirement benefit obligation of the Company’s post-retirement plans:


	*Post-retirement Benefit Assumptions*


	2004	2003

Discount rate	6.00%	6.00%
Average increase in medical costs(a)	9.00%	9.00%


(a)		For measurement purposes, a 9% annual rate of increase in the Company-paid medical premiums for non-frozen groups was assumed for 2004, decreasing gradually to 5% in year 2008 and thereafter.

The changes in benefit obligations and plan assets under the defined benefit pension plans and accumulated benefit obligations as of September 30, 2004 and 2003 were as follows:



		Pension Benefits						Other Benefits

		October 1 Through						October 1 Through
		August 1, 2004			2003			August 1, 2004			2003

		(Predecessor)			(Predecessor)			(Predecessor)			(Predecessor)
Change in benefit obligations:
	Obligations at beginning of year	$	94,921		$	75,828		$	7,306		$	7,144
	Service cost		3,482			3,392			15			18
	Interest cost		4,667			5,411			342			488
	Actuarial loss (gain)		(2,996	)		12,870			54			620
	Benefit payments		(2,847	)		(2,580	)		(886	)		(964	)

	Obligations at end of period	$	97,227		$	94,921		$	6,831		$	7,306
Change in fair value of plan assets:
	Fair value of plan assets at beginning of year	$	52,588		$	47,097		$	—		$	—
	Actual return on plan assets		7,928			1,418			—			—
	Employer contributions		6,163			6,653			886			964
	Benefit payments		(2,847	)		(2,580	)		(886	)		(964	)

	Fair value of plan assets at end of period	$	63,832		$	52,588		$	—		$	—
Funded Status:
	Funded status at end of period	$	(33,395	)	$	(42,333	)	$	(6,831	)	$	(7,306	)
	Unrecognized prior service cost		80			100			—			—
	Unrecognized loss		25,981			35,072			4,657			4,865

Net amount recognized at measurement date			(7,334	)		(7,161	)		(2,174	)		(2,441	)
Employer contribution paid after measurement date			916			3,848			66			206

Net amount recognized at end of period		$	(6,418	)	$	(3,313	)	$	(2,108	)	$	(2,235	)


		Pension Benefits			Other Benefits

		August 2 Through			August 2 Through
		September 30, 2004			September 30, 2004

		(Successor)			(Successor)
Change in benefit obligations:
	Obligations pushed down at August 2, 2004	$	104,227		$	6,982
	Service cost		764			3
	Interest cost		1,027			68
	Actuarial loss (gain)		—			—
	Benefit payments		(486	)		(122	)

	Obligations at September 30, 2004	$	105,532		$	6,931
Change in fair value of plan assets:
	Fair value of plan assets pushed down at August 2, 2004	$	63,963		$	—
	Actual return on plan assets		1,992			—
	Employer contributions		20,233			122
	Benefit payments		(486	)		(122	)

	Fair value of plan assets at September 30, 2004	$	85,702		$	—
Funded Status:
	Funded status pushed down at August 2, 2004	$	(19,830	)	$	(6,931	)
	Unrecognized prior service cost		—			—
	Unrecognized loss		(921	)		—

Net amount recognized during two month successor period		$	(20,751	)	$	(6,931	)

The following table provides the amounts recognized in the Company’s consolidated balance sheets:



	Pension Benefits						Other Benefits

	2004			2003			2004			2003

	(Successor)			(Predecessor)			(Successor)			(Predecessor)
Prepaid benefit cost	$	—		$	—		$	—		$	—
Accrued benefit liability		(20,751	)		(28,801	)		(6,931	)		(2,441	)
Intangible asset		—			100			—			—
Accumulated other comprehensive income		—			21,540			—			—

Net amount recognized at measurement date		(20,751	)		(7,161	)		(6,931	)		(2,441	)
Employer contribution paid after measurement date		—			3,848			—			206

Net amount recognized at September 30	$	(20,751	)	$	(3,313	)	$	(6,931	)	$	(2,235	)

The following table provides disclosure of the net periodic benefit cost:



	Pension Benefits									Other Benefits

	October 1 Through									October 1 Through
	August 1, 2004			2003			2002			August 1, 2004		2003		2002

	(Predecessor)			(Predecessor)			(Predecessor)			(Predecessor)		(Predecessor)		(Predecessor)
Service cost	$	3,482		$	3,392		$	2,915		$	15	$	18	$	15
Interest cost		4,667			5,411			4,823			342		488		419
Expected return on plan assets		(3,837	)		(4,223	)		(4,858	)		—		—		—
Amortization of transition (asset) obligation		—			—			(6	)		—		—		—
Amortization of prior service cost		19			23			23			215		—		—
Amortization of net loss (gain)		1,451			855			3			—		253		128

Net periodic benefit cost	$	5,782		$	5,458		$	2,900		$	572	$	759	$	562


	Pension Benefits			Other Benefits

	August 2 Through			August 2 Through
	September 30, 2004			September 30, 2004

	(Successor)			(Successor)
Service cost	$	764		$	3
Interest cost		1,027			68
Expected return on plan assets		(1,071	)		—

Net periodic benefit cost	$	720		$	71

The projected benefit obligation, accumulated benefit obligation, and fair value of plan assets for the pension plans with accumulated benefit obligations in excess of fair value of plan assets were $94,921, $81,389, and $52,588, as of September 30, 2003.

As a result of the accumulated benefit obligations of the Company’s pension benefit plans exceeding the fair market value of the plans’ assets, the Company has recorded an additional minimum liability of approximately $21,540 at September 30, 2003. This charge is reflected as a reduction to other comprehensive income.

Savings Plans: Employees in the United States are eligible to participate in contributory savings plans maintained by the Company under Section 401(k) of the Internal Revenue Code of 1986, as amended. Matching contributions made by the Company under the plans, net of forfeitures, were approximately $646 for the period from August 2, 2004 through September 30, 2004, $3,014 for the period from October 1, 2003 through August 1, 2004 and $3,562, and $3,242 for 2003, and 2002, respectively.

Note 10 — Acquisitions and Divestitures (Predecessor)

The Company has completed twenty acquisitions and discontinued three businesses since the beginning of 2002. The acquired companies are all engaged in businesses that are similar to the Company’s existing businesses. The divested companies were engaged in the lateral flow, rapid diagnostic test business (on-site rapid tests used in the detection of pregnancy, drugs of abuse, and infectious diseases); the manufacture and sale of automated microarray instrumentation for the genomics market; and the vacuum deposition chamber business.

The aggregate purchase price of these acquisitions completed prior to August 2, 2004 was allocated to tangible and intangible assets acquired based on their fair values as follows:


				September 30,
Category	August 2, 2004			2003

	(Predecessor)			(Predecessor)
Tangible assets	$	9,424		$	20,335
Liabilities assumed		(6,686	)		(3,192	)
Net assets assumed		2,738			17,143
Goodwill and intangible assets		39,314			51,976
Less: Cash acquired, if any		(69	)		(2,579	)

Cash paid for acquisitions, net of cash acquired	$	41,983		$	66,540

During 2004, the Company completed five acquisitions for cash. The aggregate purchase price for these acquisitions, net of cash acquired, was approximately $42.0 million. None of the acquisitions were considered individually significant. The total goodwill and identifiable intangible assets for the acquired companies was approximately $39.3 million (allocated approximately $9.9 million to goodwill and $29.4 million to amortizable intangible assets). In addition to the purchase price paid for J&S Medical, we have accrued $4.4 million as a holdback from the purchase price; this amount was paid in October 2004.

During 2003, the Company completed six acquisitions for cash. The aggregate purchase price for these acquisitions, net of cash acquired, was approximately $66.5 million. None of the acquisitions were considered individually significant. The total goodwill and identifiable intangible assets for the acquired companies was approximately $52.0 million (allocated approximately $30.4 million to goodwill and $21.6 million to amortizable intangible assets).

During 2002, in addition to the purchase price paid for our Capitol Vial subsidiary acquired during 2002, we agreed to pay the sellers three times the annual revenues of Capitol Vial for product sales to the U.S. Department of Defense over the twelve-month period ending December 31, 2006, or such other earlier date as Apogent and the sellers agree. The maximum earnout payment cannot exceed $9 million. To date, Capitol Vial does not have a contract with the U.S. Department of Defense, and no sales to the Department have been made.

Discontinued Operations:


	*Divestitures*

On March 25, 2003, the Company made the decision to dispose of two of its businesses: the lateral flow, rapid diagnostic test business (on-site rapid tests used in the detection of pregnancy, drugs of abuse, and infectious diseases) as conducted by Applied Biotech; and the manufacture and sale of automated microarray instrumentation for the genomics market as conducted by BioRobotics. The decision was based in part on the Company’s ongoing strategy of strengthening the market positions of our leading brands and focusing on sales of our consumable laboratory products that have more stable growth expectations. These businesses no longer met the Company’s strategic requirements. During fiscal 2003, in connection with the discontinuance of these businesses, we incurred charges of approximately $87,076, net of income tax benefit of $21,755, related to the write-down of net assets to their estimated fair value less costs to sell. The decision to sell these companies represents a disposal of long-lived assets and disposal group under SFAS No. 144, “Accounting for the Impairment or Disposal of Long-Lived Assets.” Accordingly, results of these businesses have been classified as discontinued operations, and prior periods have been restated to reflect this reclassification. In August 2003, the Company sold Applied Biotech to Inverness Medical Innovations, Inc. for 692,506 shares of Inverness common stock and $13,400 in cash. In September 2003, we sold BioRobotics to Genomic Solutions Acquisition Limited for a net amount of approximately $1,867. For business reporting purposes, Applied Biotech was previously classified in the clinical group business segment, and BioRobotics was classified in the research group business segment.

Operating results from Applied Biotech for the years ended September 30, 2003 and 2002 were as follows:



	Years Ended September 30,

	2003			2002

	(Predecessor)			(Predecessor)
Net sales	$	25,338		$	40,954
Gross profit		8,261			18,957
Pretax income (loss)		(2,927	)		10,056
Income tax (benefit) expense		(1,083	)		3,673
Net income (loss)		(1,844	)		6,391

Operating results from BioRobotics for the years ended September 30, 2003 and 2002 were as follows:



	Years Ended September 30,

	2003			2002

	(Predecessor)			(Predecessor)
Net sales	$	5,100		$	5,752
Gross profit		2,101			2,931
Pretax loss		(2,194	)		(2,091	)
Income tax benefit		(768	)		(755	)
Net loss		(1,426	)		(1,366	)

During March 2002, we made the decision to dispose of our vacuum deposition chamber business, Vacuum Process Technology, Inc. The decision was made following a slow-down in the telecommunications industry, in which Vacuum Process Technology targeted a majority of its products, and, as a result, the business no longer met the Company’s strategic requirements. During fiscal 2002, in connection with the discontinuance of this business, we incurred a charge of $13,200, net of income tax benefit of $7,600, related to the write-down of net assets to their estimated fair value less costs to sell. During fiscal 2003, the Company completed the sale of Vacuum Process Technology and, as a result, incurred an additional charge of $2,834, net of income tax benefit of $1,619. The decision to sell Vacuum Process Technology represents a disposal of long-lived assets and disposal group under SFAS No. 144, “Accounting for the Impairment or Disposal of Long-Lived Assets.” Accordingly, results of this business have been classified as discontinued operations. For business reporting purposes, Vacuum Process Technology was previously classified in the clinical group business segment. Operating results from Vacuum Process Technology for the years ended September 30, 2003 and 2002 were as follows:



	Years Ended September 30,

	2003			2002

	(Predecessor)			(Predecessor)
Net sales	$	910		$	3,982
Gross profit		(803	)		544
Pretax loss		(1,490	)		(1,370	)
Income tax benefit		(551	)		(497	)
Net loss		(939	)		(873	)

Note 11 — Restructuring Charges (Predecessor Plans)

During the period from August 2, 2004 through September 30, 2004, the Company recorded a restructuring charge of approximately $0.4 million related to the Company’s 2004 exit activities and a restructuring credit of approximately $0.3 million for the reversal of certain costs accrued in prior years restructuring plans due to a reduction in estimated costs. During the period from October 1, 2003 through August 1, 2004, the Company recorded restructuring charges of approximately $7.5 million for the consolidation of certain facilities and discontinuance of certain product lines due to product rationalizations. Approximately $3.9 million related to severance associated with employees in production activities

and other exit activities related to production and approximately $3.6 million related to severance associated with non-production employees and other exit costs.

During fiscal 2003, the Company recorded restructuring charges of approximately $13.5 million ($8.3 million net of tax) for the consolidation of certain facilities and discontinuance of certain product lines due to product rationalizations. The restructuring charges were classified as components of cost of sales and selling, general, and administrative expenses. The cost of sales component of $7.5 million related to the write-off of inventory and severance associated with employees in production activities. The $6.0 million selling, general, and administrative component related to the write-off of fixed assets, severance associated with non-production employees and other activities, and other shut-down costs.

During fiscal 2002, the Company recorded restructuring charges of approximately $7.1 million (approximately $4.4 million net of tax) for the consolidation of certain facilities and discontinuance of certain product lines due to product rationalizations. Approximately $5.6 million related to the write-off of inventory, write-offs of fixed assets, certain lease terminations, and severance associated with employees in production activities and approximately $1.5 million related to severance associated with non-production employees and other exit costs. During fiscal 2002, we recorded a restructuring credit of $0.2 million related to the reversal of certain costs accrued in the fiscal year 2000 restructuring plan due to a reduction in estimated costs.

Restructuring activities for these actions are as follows:


				Other
	Severance			Exit Cost			Total

Fiscal 2002 restructuring charges	$	1,466		$	5,626		$	7,092
Fiscal 2002 cash payments		(989	)		(682	)		(1,671	)
Fiscal 2002 non-cash charges		—			(4,217	)		(4,217	)

September 30, 2002 balance (predecessor)	$	477		$	727		$	1,204
Fiscal 2003 restructuring charges		3,664			9,871			13,535
Fiscal 2003 cash payments		(2,855	)		(1,475	)		(4,330	)
Fiscal 2003 non-cash charges (predecessor)		—			(8,651	)		(8,651	)

September 30, 2003 balances	$	1,286		$	472		$	1,758
Ten month predecessor restructuring charges		1,726			5,755			7,481
Ten month predecessor cash payments		(1,759	)		(1,202	)		(2,961	)
Ten month predecessor non-cash charges		—			(3,381	)		(3,381	)

August 1, 2004 balance (predecessor)	$	1,253		$	1,644		$	2,897
Two month successor restructuring charges (credits)		406			(259	)		147
Two month successor cash payments		(1,343	)		—			(1,343	)
Two month successor non-cash charges		—			208			208

September 30, 2004 balance (successor)	$	316		$	1,593		$	1,909

Note 12 — Commitments and Contingent Liabilities

Nalge Nunc International, a subsidiary in our research group business segment, has been identified as a potentially responsible party (“PRP”) at the Aqua-Tech site in South Carolina (the “Aqua-Tech Site”) with respect to a previously owned facility. An action was conducted in 1995 at the Aqua-Tech Site for the removal of surface contaminants under the supervision of the Environmental Protection Agency (“EPA”) pursuant to the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended (“CERCLA”). Our total expenses (including legal fees) to date have been approximately $170,000. The site has been placed by the EPA on the federal National Priority List under CERCLA, which is a prerequisite to any federally-mandated requirement for long-term remedial work at

the site under CERCLA, such as would be involved in soil and groundwater remediation. We participated with a PRP group composed of approximately 100 parties in an agreement with the EPA to undertake a remedial investigation and feasibility study, which is now being used by the EPA to determine what remedy, if any, should be required at the site. There has been no opposition to the proposed remedial investigation and feasibility study, and it was adopted in the Record of Decision in 2004. The PRP group is negotiating with EPA and the U.S. justice Department over the conduct of this remedial work. Total remediation costs are estimated at approximately $6 million. Our share of waste allegedly sent to the site is reportedly not more than 1% of the total waste sent. It is anticipated that our liability in this matter will be in proportion to the amount of reported waste we were deemed to have sent. Even though CERCLA provides for joint and several liability, we believe that any ultimate liability to us will not have a material adverse effect on our results of operations or financial condition.

On October 15, 2002, Armkel, LLC sued Pfizer Inc. (“Pfizer”) in the U.S. District Court for the District of New Jersey for patent infringement with respect to certain immunoassay pregnancy tests supplied by Applied Biotech, formerly a subsidiary in our clinical group business segment (the “Armkel Litigation”). In July 2003, Pfizer filed a third-party complaint lawsuit in the U.S. District Court for the District of New Jersey against Applied Biotech to enforce the alleged obligation of Applied Biotech to indemnify and defend Pfizer with regard to the Armkel Litigation. (Under the terms of the sale of Applied Biotech to Inverness Medical Innovations, Inc. consummated in August 2003, we retained liability of Applied Biotech for claims arising from the Armkel Litigation.) We do not believe that Applied Biotech has an obligation to defend and indemnify Pfizer with respect to the Armkel Litigation and have taken that position. The lawsuit between Armkel and Pfizer has been settled and dismissed, although Pfizer’s lawsuit against Applied Biotech continues. In December 2004, both parties filed motions for summary judgment. We do not believe that the outcome of the Armkel Litigation will have a material adverse effect on our results of operations or financial condition.

We and our subsidiaries are parties to a number of lawsuits or subject to claims arising out of our respective operations, or the operation of businesses divested since the 1980’s for which certain of our subsidiaries may continue to have legal or contractual liability, including product liability, patent and trademark or other intellectual property infringement, workplace safety, and environmental claims and cases, some of which involve claims for substantial damages. We vigorously defend lawsuits and other claims against us. Based upon our assessment of the cases and claims against us and our experiences with similar cases and claims in the past, we believe that any liabilities which might reasonably result from any of the pending cases and claims would not have a material adverse effect on our results of operations or financial condition. However, there can be no assurance as to this or that we will not be subjected to significant additional claims in the future with respect to our current or former operations which would have such a material adverse effect.

In accordance with SFAS No. 5, “Accounting for Contingencies,” Apogent makes a provision for a liability when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Apogent reviews these provisions at least quarterly and adjusts these provisions to reflect the impacts of negotiations, settlements, rulings, advice of legal counsel, and other information and events pertaining to a particular case. We do not reduce legal or contractual liabilities for possible recoveries from insurance companies.

Note 13 — Capital Stock

As a result of the merger with Fisher Scientific International Inc., options outstanding under the Company’s stock option plans were immediately vested upon the change of control in accordance with the various option plans and were exchanged for Fisher options in proportion to the 0.56 per share stock-for-stock purchase price.

For the period from August 2, 2004 through September 30, 2004 no options were granted and approximately 1.9 million options were exercised at a weighted-average price of $31.99. As of

September 30, 2004 approximately 4.3 million options remain outstanding at a weighted-average exercise price of $37.72.

Note 14 — Segment Information

The Company reports financial results on the basis of two business segments: a research group and a clinical group.

Sales from businesses in the research group accounted for approximately 54% of the Company’s total sales. Businesses in the research group engage in the manufacture, distribution and sale of products primarily to the research and clinical life science markets. Applications of these products include general laboratory uses as well as genetic research, protein-based research, high-throughput screening for drug discovery, cell culture, filtration and other liquid handling. In addition, businesses in the research group manufacture, distribute and sell laboratory equipment used by medical, pharmaceutical and scientific laboratories. Products manufactured by businesses in the research group include reusable plastic and glass products; disposable plastic and glass products; products for critical packaging applications; environmental and safety containers; liquid handling automation products; glass liquid sample vials and seals used in various applications; heating, cooling, shaking, stirring, mixing and temperature control instruments; and water purification systems.

Sales from businesses in the clinical group accounted for approximately 46% of the Company’s total sales. The Company’s clinical group engages in the manufacture and sale of products primarily to the clinical and commercial laboratory market. These products are used in a number of in vitro diagnostic applications, including specimen collection, specimen transportation, drug testing, therapeutic drug monitoring and infectious disease detection. Other applications include human tissue research and human cell research, with an emphasis on cancer applications. Products manufactured and sold by businesses in the clinical group include microscope slides, cover glass, and glass tubes and vials; stains and reagents; instrumentation for human tissue and cell research; diagnostic test kits; sample vials used in diagnostic testing; culture media; diagnostic reagents; and other products used in detecting and/or monitoring the existence of infectious diseases and conditions, therapeutic drugs and drugs of abuse.

Selected business segment financial information for the fiscal years ended September 30, 2004, 2003 and 2002 is presented below:


	Clinical		Research
	Group		Group		Eliminations(a)			Total

Two Month Successor Period Ended September 30, 2004
Revenues		100,486		111,162		(2,150	)		209,498
Operating income		7,660		1,649		—			9,309
Depreciation and amortization		5,911		7,225					13,136
Segment assets		2,080,867		2,354,905					4,435,772
Expenditures for property, plant, and equipment		1,793		3,371					5,164
Ten Month Predecessor Period Ended August 1, 2004
Revenues	$	465,477	$	529,094	$	(9,956	)	$	984,615
Operating income		104,578		83,680		—			188,258
Depreciation and amortization		25,575		31,499					57,074
Expenditures for property, plant and equipment		9,736		12,351					22,087
Year Ended September 30, 2003 (Predecessor)
Revenues	$	521,334	$	587,513	$	(11,358	)	$	1,097,489
Operating income		125,753		108,324		—			234,077
Depreciation and amortization		28,120		34,575					62,695
Segment assets		948,131		1,001,860					1,949,991
Expenditures for property, plant and equipment		18,843		34,435					53,278


	Clinical		Research
	Group		Group		Eliminations(a)			Total

Year Ended September 30, 2002 (Predecessor)
Revenues	$	480,191	$	555,091	$	(7,369	)	$	1,027,913
Operating income		123,386		124,554		—			247,940
Depreciation and amortization		26,095		29,319					55,414
Segment assets		998,320		1,037,765					2,036,085
Expenditures for property, plant and equipment		29,570		34,060					63,630


(a)	Includes the elimination of intercompany and corporate office activity. Intercompany sales and transfers between segments were not material for 2004, 2003 or 2002.

The Company’s international operations are conducted principally in Europe. Inter-geographic sales are made at prices approximating market.



								For The Year Ended
								September 30,
		August 2 through			October 1 through
		September 30, 2004			August 1, 2004			2003			2002

		(Successor)			(Predecessor)			(Predecessor)			(Predecessor)
Net Sales:
United States		$	152,564		$	760,943		$	865,127		$	810,649
Europe			44,368			235,201			246,729			234,921
All other areas			26,981			123,280			125,638			123,300
Inter-geographic sales			(14,415	)		(134,809	)		(140,005	)		(140,957	)

	Total net sales	$	209,498		$	984,615		$	1,097,489		$	1,027,913



	As0of Septembe		r 30,003


	(Successor)		(Predecessor)
Net Property:
United States	$	187,783	$	203,097
Europe		78,081		78,158
All other areas		1,420		1,497

Total net property		267,284		282,752

Note 15 — Affiliates

As more fully described in Note 1, the Company was acquired on August 2, 2004 by Fisher Scientific International Inc. As a result of the acquisition, the Company became a wholly-owned subsidiary of Fisher. During the fiscal years ended September 30, 2004, 2003, and 2002, sales by the Company to Fisher accounted for 14%, 14%, and 13%, respectively, of the Company’s net sales. Accounts receivable from Fisher comprised approximately 17% and 22% of the outstanding consolidated accounts receivable balance at September 30, 2004 and 2003, respectively. At September 30, 2004, the Company’s “intercompany to parent” of $220.7 million primarily consists of interest-free cash advances by Fisher. The Company is also a guarantor to Fisher’s credit facility.

Note 16 — Quarterly Financial Information (Unaudited)


	First		Second		Third			July 1 Through			August 2 Through
	Quarter		Quarter		Quarter			August 1			September 30
Fiscal 2004	(Predecessor)		(Predecessor)		(Predecessor)			(Predecessor)			(Successor)

Net sales	$	278,642	$	297,947	$	307,701		$	100,325		$	209,498
Income from continuing operations		28,464		34,057		34,694			(2,891	)		(24,612	)
Discontinued operations		41		106		(413	)		(59	)		(45	)

Net income	$	28,505	$	34,163	$	34,281		$	(2,950	)	$	(24,657	)


	First			Second			Third			Fourth
	Quarter			Quarter			Quarter			Quarter
Fiscal 2003	(Predecessor)			(Predecessor)			(Predecessor)			(Predecessor)

Net sales	$	257,798		$	276,638		$	278,478		$	284,575
Income from continuing operations		28,815			30,864			35,704			(13,010	)
Discontinued operations		(82	)		(87,246	)		(188	)		(6,603	)

Net income	$	28,733		$	(56,382	)	$	35,516		$	(19,613	)


Item 9.	*Changes in and Disagreements with Accountants on Accounting and Financial Disclosure*

On November 9, 2004, we, upon approval of the Company’s board of directors, dismissed KPMG LLP as our principal accountants. The Company’s board took this action because it determined there should be consistency between the independent auditors of the Company and its parent corporation, Fisher Scientific International Inc. The Company has engaged Deloitte & Touche LLP as its new independent accountants as of November 9, 2004.


Item 9A.	*Controls and Procedures*

Disclosure Controls and Procedures: The Company’s management, with the participation of the Company’s Chief Executive Officer and Chief Financial Officer, has evaluated the effectiveness of the Company’s disclosure controls and procedures (as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), as of the end of the period covered by this report. Based on such evaluation, the Company’s Chief Executive Officer and Chief Financial Officer have concluded that, as of the end of such period, the Company’s disclosure controls and procedures are effective in recording, processing, summarizing and reporting, on a timely basis, information required to be disclosed by the Company in the reports that it files or submits under the Exchange Act.

Internal Control Over Financial Reporting: The Company’s management, with the participation of the Company’s Chief Executive Officer and Chief Financial Officer, also conducted an evaluation of the Company’s internal control over financial reporting to determine whether any changes occurred during the Company’s fourth fiscal quarter ended September 30, 2004 that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting. Based on that evaluation, there has been no such change during the Company’s fourth fiscal quarter.


Item 9B.	*Other Information*

None.

PART III.


Item 10.	*Directors and Executive Officers of the Registrant*

Omitted in reliance upon General Instruction I (2) (c) of Form 10-K


Item 11.	*Executive Compensation*

Omitted in reliance upon General Instruction I (2) (c) of Form 10-K


Item 12.	*Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters*

Omitted in reliance upon General Instruction I (2) (c) of Form 10-K


Item 13.	*Certain Relationships and Related Transactions*

Omitted in reliance upon General Instruction I (2) (c) of Form 10-K


Item 14.	*Principal Accountant Fees and Services*

Independent Auditors’ Fees

The following table presents fees for professional services rendered by Deloitte & Touche LLP, the member firms of Deloitte Touche Tohmatsu, and their respective affiliates (collectively, “Deloitte & Touche”).


Classification of Fees		2004

Audit Fees(a)			$1,300,000
Audit-Related Fees			—

	Total Audit Fees and Audit Related Fees		$1,300,000
Tax Fees(b)			29,000
All Other Fees			—

Total Fees			$1,329,000


(a)		Includes fees for the audit of the Company’s annual financial statements for the fiscal year ended September 30, 2004.
(b)		Includes fees for tax consulting and compliance services.

The firm of KPMG LLP served as the Company’s independent auditors for the fiscal year ended September 30, 2003, and during the three quarterly periods ended June 30, 2004.

The following table presents fees for professional audit services rendered by KPMG LLP for the audit of the Company’s annual financial statements for the year ended September 30, 2003, and fees and billed for other services rendered by KPMG LLP during those periods.


Classification of Fees		2004	2003

Audit Fees(a)		564,000	1,338,300
Audit-Related Fees(b)		—	59,800

	Total Audit Fees and Audit Related Fees	564,000	1,398,100
Tax Fees(c)		1,434,741	745,300
All Other Fees		—	—

Total Fees		1,998,741	2,143,400


(a)		Includes fees for US GAAP audit procedures, statutory audits, consents, and assistance with and review of documents filed with the SEC.
(b)		Includes fees for employee benefit plan audits, accounting consultations, due diligence services, and other attest services including audits in connection with acquisitions, internal control reviews, attest services that are not required by statute.
(c)		Includes fees for tax consulting and compliance services.

The Audit Committee has concluded that the services provided by Deloitte & Touche LLP and KPMG LLP to the Company that were not related to their audits of the Company’s financial statements were at all times compatible with maintaining that firms’ independence.

PART IV.


Item 15.	*Exhibits and Financial Statement Schedules*

(a)(1) Financial Statements. See Index to Financial Statements at Item 8 herein.

(2) Schedules. Financial Statement schedules are listed under Item 15(d) in this Annual Report.

(3) Exhibits. Exhibits 10.1 through 10.16 constitute all of the management contracts and compensation plans and arrangements of the Company required to be filed as exhibits to this Annual Report.


Exhibit					Filed
Number			Description	Incorporated Herein By Reference To	Herewith

	2	.1	Agreement and Plan of Merger, dated as of March 17, 2004, as amended on April 16, 2004, by and among Fisher, Fox Merger Corporation and Apogent	Exhibit 2.1 to the Registrant’s Form 8-K dated April 16, 2004
	2	.2	Articles of Merger dated August 2, 2004, merging Fox Merger Corporation with and into Apogent	Exhibit 2.2 to the Registrant’s Form 10-Q for the quarter ended June 30, 2004 (the “6/30/04 10-Q”)
	3	.1	Restated Articles of Incorporation of Apogent	Exhibit 3.1 to the 6/30/04 10-Q
	3	.2	Amended and Restated Bylaws of Apogent	Exhibit 3.2 to the 6/30/04 10-Q
	4	.1	Credit Agreement, dated as of July 29, 2003, among the Registrant, Erie Scientific Company, Nalge Nunc International Corporation, and Remel Inc., each as a Subsidiary Borrower, the several lenders from time to time parties thereto (“the Lenders”), Fleet National Bank, as Syndication Agent, JPMorgan Chase Bank, as Administrative Agent for the Lenders, ABN AMRO Bank N.V., Bank of America N.A. and SunTrust Bank, as Co-Documentation Agents, and J.P. Morgan Securities Inc. and Fleet Securities, Inc., as Joint Lead Arrangers and Joint Bookrunners	Exhibit 10.2 to the Registrant’s Form 10-Q for the quarter ended June 30, 2003
	4	.2	First Amendment to the Credit Agreement, dated as of July 29, 2003, among the Registrant, Erie Scientific Company, Nalge Nunc International Corporation, and Remel Inc., each as a Subsidiary Borrower, the several lenders from time to time thereto (“the Lenders”), Fleet National Bank, as Syndication Agent, JPMorgan Chase Bank, as Administrative Agent for the Lenders, ABN AMRO Bank N.V., Bank of America N.A. and SunTrust Bank, as Co-Documentation Agents, and J.P. Morgan Securities Inc. and Fleet Securities, Inc. and Fleet Securities, Inc., as Joint Lead Arrangers and Joint Bookrunners	Exhibit 4.10 to the Registrant’s Form 10-Q for the quarter ended December 31, 2003 (the “12/31/03 Form 10-Q”)
	4	.3	Second Amendment to the Credit Agreement, dated as of July 29, 2003, among the Registrant, Erie Scientific Company, Nalge Nunc International Corporation, and Remel Inc., each as a Subsidiary Borrower, the several lenders from time to time parties thereto (“the Lenders”), Fleet National Bank, as Syndication Agent, JPMorgan Chase Bank, as Administrative Agent for the Lenders, ABN AMRO Bank N.V., Bank of America N.A. and SunTrust bank, as Co-Documentation Agents, and J.P. Morgan Securities Inc. and Fleet Securities, Inc., as Joint Lead Arrangers and Joint Bookrunners	Exhibit 4.11 to the 12/31/03 Form 10-Q


Exhibit					Filed
Number			Description	Incorporated Herein By Reference To	Herewith

	4	.4	Indenture dated April 4, 2001 among the Registrant, the Subsidiary Guarantors named therein and The Bank of New York, as Trustee	Exhibit 4.1 to the Registrant’s Form 10-Q for the quarter ended March 31, 2001
	4	.5	Supplemental Indenture, dated as of September 25, 2003, to the Indenture dated April 4, 2001 among the Registrant, the Subsidiary Guarantors named therein and The Bank of New York, as Trustee	Exhibit 4.5 to the Registrant’s Form 10-K for the year ended September 30, 2003
	4	.6	Supplemental Indenture, dated April 12, 2004, to the Indenture dated April 4, 2001 among the Registrant, the Subsidiary Guarantors named therein and the Bank of New York, as trustee	Exhibit 4.5 to the Registrant’s Form 10-Q for the quarter ended March 31, 2004 (the “3/31/04 10-Q”)
	4	.7	Indenture dated October 10, 2001 among the Registrant, the Subsidiary Guarantors named therein and The Bank of New York, as Trustee	Exhibit 99.2 to the Registrant’s Current Report on Form 8-K dated October 11, 2001
	4	.8	Supplemental Indenture, dated April 12, 2004, to the Indenture dated October 10, 2001 among the Registrant, the Subsidiary Guarantors named therein and the Bank of New York, as Trustee	Exhibit 4.6 to the 3/31/04 10-Q
	4	.9	Supplemental Indenture, dated as of August 2, 2004, to the Indenture dated as of October 10, 2001, among Apogent, Fisher Scientific International Inc. and The Bank of New York, as Trustee	Exhibit 4.3 to the 6/30/04 10-Q
	4	.10	Indenture, dated June 2, 2003, between the Registrant, the Subsidiary Guarantors parties thereto, and The Bank of New York, as Trustee	Exhibit 4.1 to the Registrant’s Registration Statement on Form S-4 (File No. 333-107078)
	4	.11	Supplemental Indenture, dated April 12, 2004, to the Indenture dated June 2, 2003 among the Registrant, the Subsidiary Guarantors named therein and the Bank of New York, as Trustee	Exhibit 4.7 to the 3/31/04 10-Q
	4	.12	Supplemental Indenture, dated as of July 27, 2004, to the Indenture dated June 2, 2003, among Apogent and The Bank of New York, as Trustee	Exhibit 4.5 to the 6/30/04 10-Q
	4	.13	Registration Rights Agreement, dated as of June 2, 2003, among the Registrant, the Subsidiary Guarantors and Lehman Brothers Inc., Credit Suisse First Boston LLC and J.P. Morgan Securities Inc., (collectively, as Representative of several Initial Purchasers)	Exhibit 4.2 to the Registrant’s Registration Statement on Form S-4 (File No. 333-107078)
	4	.14	Purchase Agreement, dated May 22, 2003, between the Registrant, the Subsidiary Guarantors and Lehman Brothers Inc., Credit Suisse First Boston LLC and J.P. Morgan Securities Inc. (collectively, as Representatives of the several Initial Purchasers)	Exhibit 4.3 to the Registrant’s Registration Statement on Form S-4 (File No. 333-107078)


Exhibit					Filed
Number			Description	Incorporated Herein By Reference To	Herewith

	4	.15	Indenture, dated as of December 17, 2003, among Apogent, the Subsidiary Guarantors parties thereto, and The Bank of New York, as Trustee, providing for Apogent’s Floating Rate Senior Convertible Contingent Debt Securities (CODES) due 2033	Exhibit 4.1 to the Registrant’s Registration Statement on Form S-3 (File No. 333-112468)
	4	.16	Supplemental Indenture, dated April 12, 2004, to the Indenture dated December 17, 2003 among the Registrant, the Subsidiary Guarantors named therein and the Bank of New York, as Trustee	Exhibit 4.8 to the 3/31/04 10-Q
	4	.17	Supplemental Indenture, dated as of August 2, 2004, to the Indenture dated as of December 17, 2003, among Apogent, Fisher Scientific International Inc. and The Bank of New York, as Trustee	Exhibit 4.4 to the 6/30/04 10-Q
	4	.18	Resale Registration Rights Agreement, dated as of December 17, 2003, among Apogent, the Subsidiary Guarantors and Lehman Brothers Inc., Bank of America Securities LLC, J.P. Morgan Securities Inc., Credit Suisse First Boston LLC, ABN Amro Rothschild LLC, Fleet Securities, Inc., Scotia Capital (USA) Inc., Suntrust Capital (USA) Inc., The Royal Bank of Scotland plc and HSBC Securities (USA) Inc. (collectively, as Initial Purchasers)	Exhibit 4.2 to the Registrant’s Registration Statement on Form S-3 (File No. 333-112468)
	4	.19	Purchase Agreement, dated December 17, 2003, between Apogent, the Subsidiary Guarantors and Lehman Brothers Inc., Bank of America Securities LLC, J.P. Morgan Securities Inc., Credit Suisse First Boston LLC, ABN Amro Rothschild LLC, Fleet Securities, Inc., Scotia Capital (USA) Inc., Suntrust Capital (USA) Inc., The Royal Bank of Scotland plc and HSBC Securities (USA) Inc. (collectively, as Initial Purchasers)	Exhibit 4.3 to the Registrant’s Registration Statement on Form S-3 (File No. 333-112468)
	4	.20	Indenture, dated as of August 3, 2004, among Apogent, Fisher Scientific International Inc. and The Bank of New York, as Trustee, providing for Apogent’s Floating Rate Convertible Senior Debentures due 2033	Exhibit 4.1 to the 6/30/04 10-Q
	4	.21	Indenture, dated as of August 3, 2004, among Apogent, Fisher Scientific International Inc. and The Bank of New York, as Trustee, providing for Apogent’s 2.25% Convertible Senior Debentures due 2021	Exhibit 4.2 to the 6/30/04 10-Q


Exhibit					Filed
Number			Description	Incorporated Herein By Reference To	Herewith

	10	.1	Guaranty, dated as of August 2, 2004, among Fisher Scientific International Inc., as Borrower, Apogent Technologies Inc., as Guarantor, the other Guarantors named therein, and Bank of America, N.A., as Administrative Agent for the Lenders, as Guarantied Party	Exhibit 10.1 to the 6/30/04 10-Q
	10	.2	Pledge Agreement dated as of August 2, 2004 by and among Fisher Scientific International Inc., as Borrower, Apogent Technologies Inc., as Pledgor, the other Pledgors named therein, J.P. Morgan Trust Company, National Association, as Senior Note Trustee and Bank of America, N.A., as Agent for the Lenders, as Secured Party	Exhibit 10.2 to the 6/30/04 10-Q
	10	.3	Lease Agreement dated December 21, 1988 between CPA:7 and CPA:8, as landlord, and Barnstead Thermolyne Company, as tenant (the “Barnstead Thermolyne Lease”)	Exhibit 10(cc) to Sybron Corporation’s Registration Statement on Form S-1 (No. 33-24640)
	10	.4	First Amendment to the Barnstead Thermolyne Lease	Exhibit 10.23 to the Registrant’s Form 10-K for the year ended September 30, 2000 (the “2000 10-K”)
	10	.5	Lease Agreement dated December 21, 1988 between CPA:7 and CPA:8, as landlord, and Erie Scientific Company, as tenant (the “Erie Lease”)	Exhibit 10(ee) to Sybron Corporation’s Registration Statement on Form S-1 (No. 33-24640)
	10	.6	First Amendment to the Erie Lease	Exhibit 10.25 to the 2000 10-K
	10	.7	Lease Agreement dated December 21, 1988 between CPA:7 and CPA:8, as landlord, and Nalge Nunc International Corporation, as tenant (the “NNI Lease”)	Exhibit 10(ff) to Sybron Corporation’s Registration Statement on Form S-1 (No. 33-24640)
	10	.8	Second Amendment to the NNI lease	Exhibit 10.27 to the 2000 10-K
	10	.9	Amended and Restated Guaranty and Suretyship Agreement, dated December 11, 2000, between the Registrant and CPA:7 and CPA:8	Exhibit 10.28 to the 2000 10-K
	10	.10	Tenant Agreement dated December 21, 1988 between New England Mutual Life Insurance Company, as lender, and CPA:7 and CPA:8, as landlord, and Barnstead Thermolyne Corporation, as tenant	Exhibit 10(tt) to Sybron Corporation’s Registration Statement on Form S-1 (No. 33-24640)
	10	.11	Tenant Agreement dated December 21, 1988 between New England Mutual Life Insurance Company, as lender, and CPA:7 and CPA:8, as landlord, and Erie Scientific Company, as tenant	Exhibit 10(uu) to Sybron Corporation’s Registration Statement on Form S-1 (No. 33-24640)


Exhibit					Filed
Number			Description	Incorporated Herein By Reference To	Herewith

	10	.12	Tenant Agreement dated December 21, 1988 between New England Mutual Life Insurance Company, as lender, and CPA:7 and CPA:8, as landlord, and Nalge Nunc International Corporation (formerly Nalge Company), as tenant	Exhibit 10(vv) to Sybron Corporation’s Registration Statement on Form S-1 (No. 33-24640)
	10	.13	Sale and Leaseback Agreement dated December 21, 1988 between Sybron Corporation and New England Mutual Life Insurance Company, as lender	Exhibit 10(ww) to Sybron Corporation’s Registration Statement on Form S-1 (No. 33-24640)
	10	.14	Environmental Risk Agreement dated December 21, 1988 from Sybron Corporation and Barnstead Thermolyne Corporation, as indemnitors, to New England Mutual Life Insurance Company, as lender, and CPA:7 and CPA:8, as Borrowers	Exhibit 10(yy) to Sybron Corporation’s Registration Statement on Form S-1 (No. 33-24640)
	10	.15	Environmental Risk Agreement dated December 21, 1988 from Sybron Corporation and Erie Scientific Company, as indemnitors, to New England Mutual Life Insurance Company, as lender, and CPA:7 and CPA:8, as Borrowers	Exhibit 10(aaa) to Sybron Corporation’s Registration Statement on Form S-1 (No. 33-24640)
	10	.16	Environmental Risk Agreement dated December 21, 1988 from Sybron Corporation and Nalge Nunc International Corporation (formerly Nalge Company), as indemnitors, to New England Mutual Life Insurance Company, as lender, and CPA:7 and CPA:8, as borrowers	Exhibit 10(bbb) to Sybron Corporation’s Registration Statement on Form S-1 (No. 33-24640)
	16	.0	Letter to Securities and Exchange Commission from KPMG LLP	Exhibit 16 to Apogent Technologies Inc. Form 8-K dated November 11, 2004


Exhibit					Filed
Number			Description	Incorporated Herein By Reference To	Herewith

	23	.1	Consent of Deloitte & Touche LLP			X
	23	.2	Consent of KPMG LLP			X
	31	.1	Certification Pursuant to Rule 13a-14(a) or 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (CEO)			X
	31	.2	Certification Pursuant to Rule 13a-14(a) or 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002(CFO)			X
	32	.1	Certification Pursuant to 18 U.S.C., Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (CEO)			X
	32	.2	Certification Pursuant to 18 U.S.C., Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (CFO)			X

Note: Certain compensatory plans, contracts or arrangements in which directors or executive officers of Apogent Technologies Inc. participate are not filed as Apogent Technologies Inc. exhibits in reliance on the exclusion in Item 601(b)(10)(iii)(C)(6) of Regulation S-K. Apogent Technologies Inc. is a wholly-owned subsidiary of Fisher Scientific International Inc., Commission File No. 001-10920.

SCHEDULE II

APOGENT TECHNOLOGIES INC. AND SUBSIDIARIES

VALUATION AND QUALIFYING ACCOUNTS

For the Years Ended September 30, 2004, 2003, and 2002



					Additions

			Balance at		Charged to		Charged to						Balance at
			Beginning of		Costs and		Other						End of
Descriptions			Period/ Year		Expenses		Accounts			Deductions			Period/ Year


			(In thousands)
Period ended September 30, 2004 (Successor)
	Deducted from asset accounts:
		Allowance for doubtful receivables	$	—	$	57	$	—		$	—		$	57

Period ended August 2, 2004 (Predecessor)
	Deducted from asset accounts:
		Allowance for doubtful receivables	$	4,286	$	2,259	$	117	(b)	$	1,163	(a)	$	5,499

Year ended September 30, 2003 (Predecessor)
	Deducted from asset accounts:
		Allowance for doubtful receivables	$	5,723	$	875	$	614	(b)	$	2,926	(a)(c)	$	4,286

Year ended September 30, 2002 (Predecessor)
	Deducted from asset accounts:
		Allowance for doubtful receivables	$	3,975	$	1,434	$	1,557	(b)	$	1,243	(a)	$	5,723


Note:	Above additions and deductions include the effects of foreign currency rate changes.


(a)		Uncollectible accounts written off, net of recoveries

(b)		Includes reserves of acquired businesses

(c)		Deductions have increased primarily due to the discontinuance of our ABI and BioRobotics subsidiaries.

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


	APOGENT TECHNOLOGIES INC.


	By:	/s/ FRANK H. JELLINEK, JR.



	Frank H. Jellinek, Jr.,
	President and Chief Executive Officer

December 14, 2004

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.*



Signature


/s/ FRANK H. JELLINEK, JR. Frank H. Jellinek, Jr.				President and Chief Executive Officer and Director (Principal Executive Officer of the Registrant)

/s/ DENNIS BROWN Dennis Brown				Chief Financial Officer and Treasurer (Principal Financial Officer and Principal Accounting Officer of the Registrant)

/s/ CHRISTOPHER L. DOERR Christopher L. Doerr				Director

/s/ SIMON B. RICH Simon B. Rich				Director

/s/ MICHAEL K. BRESSON Michael K. Bresson				Director

/s/ RICHARD W. VIESER Richard W. Vieser				Director


*	Each of these signatures is affixed as of December 14, 2004.

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