SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
October 4, 1994
Mallinckrodt Group Inc.
(Exact name of registrant as specified in its charter)
New York
(State or other jurisdiction
of incorporation)
1-483
(Commission File Number)
36-1263901
(IRS Employer Identification No.)
7733 Forsyth Boulevard, St. Louis, MO
(Address of principal executive offices)
63105-1820
(Zip Code)
Registrant's telephone number including area code
(314) 854-5200
<PAGE>
Item 5. Other Events
A press release was issued October 4, 1994. The text of that
release is as follows:
MALLINCKRODT GROUP CEO REAFFIRMS FISCAL 1995 GROWTH OUTLOOK
New York, N.Y., October 4, 1994 -- Talking with Wall Street
analysts here today, Mallinckrodt Group Inc. (NYSE:MKG)
President and Chief Executive Officer C. Ray Holman said that
he expects a modest increase in ongoing earnings in the first
quarter ended September 30, 1994, compared to the 43 cents
earned last year before unusual items. Many of the factors
impacting first quarter results are also expected to continue
in the first half. Earnings for all of fiscal 1995 are
expected to be more in line with long-range earnings growth
expectations, about 15 percent year over-year, excluding one-
time items in 1994.
"We are confident in our expectations for health earnings
gains in 1995 and beyond. As stated in August, however, the
year is off to a slow start, particularly in the animal health
business," Holman said. "We expect Mallinckrodt Veterinary to
be down year-to-year in the first quarter due to weak food
animal markets, higher raw material costs and lower pricing for
feed ingredients, revised buying patterns by certain North
American customers and adverse weather conditions in Australia
and New Zealand.
"Mallinckrodt Chemical earnings for the first quarter will
also be down, due to an expected decline in acetaminophen
sales, attributable to customer purchase adjustments, and to a
temporary increase in manufacturing costs in the St. Louis
production facility. The decline will be more than offset by a
very strong quarter for the Tastemaker join venture," he added.
Mallinckrodt Medical sales and earnings for the first
quarter are expected to be higher, but earnings will be
affected by upfront costs associated with changes in the U.S.
sales organization and new product launches.
Commenting on expectations for each business for the full
year, Holman said that he expects savings from the Mallinckrodt
Veterinary restructuring program and new product introductions
to contribute to a solid earnings gain. He said that he is
confident the industry knowledge and mangement expertise
brought to the company by its new president will have a
positive impact on performance. On Monday, Mallinckrodt
announced that Paul D. Cottone, former vice president of U.S.
operations for the Merck AgVet Division, had been named
president of Mallinckrodt Veterinary.
"We expect to see double digit earnings gains from
Mallinckrodt Medical in 1995," Holman said. "This growth
should be driven by new products and continuing sales growth in
other products, along with the restructuring program which
currently is being implemented. Mallinckrodt Chemical will
also experience double digit earnings gains, benefiting from
expanded international acetaminophen sales, and continuing
improvements in its catalyst business, boosted by last year's
acquisition of Catalyst Resources, Inc. Our Tastemaker joint
venture is also expected to show continued strength in 1995."
Mallinckrodt Group Inc., a St. Louis, Missouri-based
Fortune 250 company, had fiscal 1994 net sales of $1.94
billion. Its three international technology-based businesses -
- Mallinckrodt Chemical and Mallinckrodt Medical, also
headquartered in the St. Louis area, and Mallinckrodt
Veterinary, headquartered in Mundelein, Illinois -- provide
specialty chemicals and human and animal health products.
Mallinckrodt has 10,200 employees worldwide.
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned thereunto duly authorized.
Mallinckrodt Group Inc.
ROGER A. KELLER
Vice President, Secretary and General Counsel
DATE: October 28, 1994
