SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
April 21, 1998
Mallinckrodt Inc.
(Exact name of registrant as specified in its charter)
New York 1-483 36-1263901
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
675 McDonnell Boulevard, St. Louis, MO 63134
(Address of principal executive offices) (ZIP Code)
Registrant's telephone number, (314) 654-2000
including area code
<PAGE>
Item 5. Other Events
A press release was issued April 21, 1998. The relevant portion of
the text of that release was as follows:
(*) Indicates registered trademark.
MALLINCKRODT PROVIDES NEAR-TERM OUTLOOK
IN CONJUNCTION WITH THIRD QUARTER EARNINGS REPORT
ST. LOUIS, Mo., April 21, 1998 - During a conference call earlier
today to discuss third quarter results with analysts, Mallinckrodt
Inc. (NYSE:MKG) Chief Financial Officer Michael A. Rocca commented on
the near-term outlook for fiscal years 1998 and 1999. While stating
that earnings for all of fiscal 1998, ending June 30, will be in line
with overall market expectations, he indicated that certain factors
will impact fiscal 1999 earnings growth.
The three factors noted by Rocca that will have an influence on
fiscal 1999 are a decrease in ongoing earnings, resulting from the
divestiture of the company's specialty industrial chemical
businesses; continued price deterioration in the X-ray contrast
business, resulting in reduced imaging business results; and the
delay the company experienced in marketing OPTISON(*), due to later-
than-planned regulatory approval, which is pushing the cardiac
ultrasound contrast imaging agent's ramp-up and earnings contribution
out by about a half year.
While the company's revised long-range forecast and fiscal 1999
operating plan, currently being prepared under the normal planning
process, will not be complete for the next several months, it is
likely that FY99 earnings per share will be below $2.60, which is at
the lower end of the range mentioned by investment analysts in their
previous projections.
Based in St. Louis, Missouri, and operating in more than 100
countries globally, Mallinckrodt had fiscal 1997 net sales of $1.9
billion. The Mallinckrodt web site address is(www.mallinckrodt.com).
# # #
This news release contains forward-looking statements that involve
risks and uncertainties. These statements are based on current
expectations; actual results may differ materially. Among the
factors that could cause actual results to differ materially are the
following: the effect of business and economic conditions; the
impact of competitive products and continued pressure on prices
realized by the company for its products; constraints on supplies of
raw materials used in manufacturing certain of the company's
products; capacity constraints limiting the production of certain
products; difficulties or delays in the development, production,
testing, and marketing of products; difficulties or delays in
receiving required governmental or regulatory approvals; market
acceptance issues, including the failure of products to generate
anticipated sales levels; difficulties in rationalizing acquired
businesses and in realizing related cost savings and other benefits;
the effects of and changes in trade, monetary and fiscal policies,
laws and regulations; foreign exchange rates and fluctuations in
those rates; the costs and effects of legal and administrative
proceedings, including environmental proceedings and patent disputes
involving the company; and the risk factors reported from time to
time in the company's SEC reports.
Mallinckrodt Inc.
ROGER A. KELLER
Vice President, Secretary
and General Counsel
DATE: April 22, 1998
