Diagnostic Products Corporation Announces Quarterly Dividend
July 03 2006 - 8:00AM
Business Wire
Diagnostic Products Corporation (NYSE:DP) announced today the
declaration of a quarterly cash dividend of $.07 per share of
Common Stock payable July 26, 2006 to shareholders of record on
July 17, 2006. As previously announced, Diagnostic Products
Corporation entered into a merger agreement under which Siemens
Medical Solutions USA, a wholly owned subsidiary of Siemens AG
(NYSE:SI), would acquire DPC for approximately $1.86 billion.
Siemens Medical Solutions, with headquarters in Malvern,
Pennsylvania, and Erlangen, Germany, is one of the largest
suppliers to the healthcare industry in the world. The company is
known for bringing together innovative medical technologies,
healthcare information systems, management consulting, and support
services, to help customers achieve tangible, sustainable, clinical
and financial outcomes. Employing approximately 33,000 people
worldwide and operating in more than 120 countries, Siemens Medical
Solutions reported sales of EUR 7.6 billion, orders of EUR 8.6
billion and group profit of EUR 976 million for fiscal 2005
(September 30). More information can be obtained by visiting
www.usa.siemens.com/medical-pressroom. Diagnostic Products
Corporation, founded in 1971, is a leader in the global in vitro
diagnostics market. DPC's product offering includes the widely
accepted IMMULITE(R) series of immunoassay systems, more than 75
immunoassays and an expanding menu of essential specific allergens
and allergy panels that are run just like other immunoassays. DPC
also designs and manufactures automated laboratory instrumentation
and automation solutions that provide fast, accurate results while
enabling our customers to do "more with less" in a leaner
laboratory. DPC's combined chemistry and immunoassay menu is one of
the largest and most diversified available, covering most
laboratory tests requested. In fiscal 2005 (December 31), DPC
reported sales of $481 million and income from operations of $96
million. Additional information can be found on DPC's website at
www.dpcweb.com. DPC has filed proxy materials regarding the
proposed merger described in this communication with the Securities
and Exchange Commission. Investors and security holders are urged
to read the proxy statement, because it will contain important
information about DPC and the proposed merger. A definitive proxy
statement has been sent to security holders of DPC seeking their
approval of the transaction. Investors and security holders may
obtain a free copy of the definitive proxy statement and other
documents filed by DPC with the SEC at the SEC's website at
www.sec.gov. The definitive proxy statement and other relevant
documents may also be obtained free of cost by directing a request
to DPC, 5210 Pacific Concourse Drive, Los Angeles, California
90045, attention: Investor Relations (telephone 310-645-8200). DPC
and its directors and executive officers may be deemed to be
participants in the solicitation of proxies from the shareholders
of DPC in connection with the merger. Information about DPC and its
directors and executive officers can be found in DPC's Proxy
Statements and Annual Reports on Form 10-K filed with the SEC.
Additional information regarding the interests of those persons may
be obtained by reading the proxy statement. Except for the
historical information contained herein, this press release
contains forward-looking statements that involve risks and
uncertainties that could cause actual results to differ materially.
These factors include governmental or other action relating to
DPC's Chinese affiliate; the rate of customer demand for DPC's
products; DPC's ability to successfully market new and existing
products; its dependence on certain suppliers; domestic and foreign
government regulation; its ability to keep abreast of technological
innovations and to translate them into new products; competition;
political and economic instability in certain markets including the
movements of foreign currencies relative to the dollar; and other
risks and uncertainties disclosed from time to time in DPC's SEC
reports and filings.
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