Bausch & Lomb 1999 Annual Report

Quarterly Stock Prices (unaudited)
The company’s Common stock is listed on the New York Stock Exchange and is traded under the symbol BOL. There were approximately
7,000 and 7,200 Common shareholders of record at year-end 1999 and 1998, respectively. The following table shows the price range of the
Common stock for each quarter for the past two years:
1999 1998
Price Per Share Price Per Share
High Low High Low
First $66 7 ⁄8 $56 5 ⁄16 $46 1 ⁄4 $37 3 ⁄4
Second 83 3 ⁄8 61 52 11 ⁄16 45 1 ⁄4
Third 78 5 ⁄8 61 1 ⁄2 52 3 ⁄4 38 11 ⁄16
Fourth 69 1 ⁄16 52 5 ⁄8 59 3 ⁄8 38 1 ⁄16
Selected Financial Data (unaudited)
1999 1998 1997 1996 1995 1994
Results For The Year
Net sales 1 $1,756.1 $1,597.5 $1,108.7 $1,066.6 $1,003.2 $ 899.0
Income from continuing operations 1 102.7 55.6 62.0 63.5 45.9 59.6
Net income 444.8 25.2 49.4 83.1 112.0 31.1
Continuing operations –
basic earnings per share 1 1.79 1.00 1.12 1.13 0.80 1.01
Net income – basic earnings per share 7.76 0.45 0.89 1.48 1.94 0.53
Continuing operations –
diluted earnings per share 1 1.75 0.99 1.12 1.12 0.79 1.00
Net income – diluted earnings per share 7.59 0.45 0.89 1.47 1.93 0.52
Dividends per share 1.04 1.04 1.04 1.04 1.01 0.96
Year End Position
Working capital $1,190.7 $ 774.4 $ 202.9 $ 18.5 $ 70.9 $ 277.4
Total assets 3,273.5 3,491.7 2,772.9 2,603.4 2,550.1 2,457.7
Short-term debt 46.9 191.5 343.8 482.1 383.5 300.6
Long-term debt 977.0 1,281.3 510.8 236.3 191.0 289.5
Shareholders’ equity 1,234.0 845.0 818.4 881.9 929.3 914.4
Other Ratios And Statistics
Return on sales for continuing operations 5.8% 3.5% 5.6% 6.0% 4.6% 6.6%
Return on average shareholders’ equity 43.3% 3.1% 5.9% 9.2% 11.9% 3.2%
Return on invested capital 21.7% 3.8% 5.0% 7.2% 9.3% 3.8%
Return on average total assets 13.1% 0.7% 1.8% 3.1% 4.5% 1.2%
Effective income tax rate for
continuing operations 36.0% 35.2% 38.1% 38.7% 36.5% 31.9%
Current ratio 2.9 2.0 1.2 1.0 1.1 1.4
Total debt to shareholders’ equity 83.0% 174.3% 104.4% 81.5% 61.8% 64.5%
Total debt to capital 45.3% 63.5% 51.1% 44.9% 38.2% 39.2%
Capital expenditures $ 155.9 $ 201.5 $ 126.1 $ 130.3 $ 95.5 $ 84.8
1 Amounts have been modified or added, as necessary, to reflect the divestitures described in Note 3 – Discontinued Operations and Note 2 – Acquisitions.
See the future 43 Bausch & Lomb