Fisher Scientific Reports Record Third-Quarter Results; Company Raises 2005 EPS Guidance to New Range of $3.52 to $3.57 and Expects 2006 EPS of at Least $4.05

"Fisher reported strong results for the quarter with sales,earnings and cash flow reaching new highs," said Paul M. Montrone,chairman and chief executive officer. "We continue to successfullyexecute our strategic initiatives and are optimistic about theprospect of our performance heading into 2006."

Third-Quarter Reported Results

Fisher Scientific's third-quarter sales increased 12.7 percent to$1,413.0 million compared with $1,254.3 million in the correspondingperiod of 2004. Excluding the effect of foreign exchange, salestotaled $1,411.7 million in the third quarter, a 12.6 percent increaseover the same quarter in 2004, with 6.6 points of organic growth inthe core scientific-research and healthcare markets. Including theexpected soft demand for safety-related products, organic sales growthtotaled 4.1 percent. Net income for the third quarter more thandoubled to $93.5 million, or 73 cents per diluted share, compared with$36.1 million, or 34 cents per diluted share, in the third quarter of2004.

For the nine months ended Sept. 30, 2005, sales totaled $4,155.5million, a 25.7 percent increase over sales of $3,306.0 million in thecorresponding period last year. Excluding the effect of foreignexchange, sales totaled $4,126.5 million, a 24.8 percent increase oversales for the first nine months of 2004. For the nine months endedSept. 30, 2005, net income was $271.9 million, or $2.14 per dilutedshare. Net income in the corresponding period of 2004 was $115.4million, or $1.42 per diluted share.

For the first nine months of 2005, Fisher generated $395.8 millionin cash from operations, compared with $242.5 million in theprior-year period, primarily reflecting growth in earnings.Year-to-date capital expenditures totaled $100.3 million. In the firstnine months, free cash flow, defined as cash from operations lesscapital expenditures, totaled $295.5 million.

Pro Forma Financial Results

The following discussion excludes nonrecurring costs and specialitems in 2004 and 2005. In the attached supplemental informationtables, these items are reconciled to the most directly comparablefinancial measures computed in accordance with generally acceptedaccounting principles in the United States (GAAP).

Income from operations for the third quarter increased to $186.4million compared with $145.2 million in the third quarter of 2004.Third-quarter net income increased to $118.7 million compared with netincome of $80.2 million in the same period of 2004, reflecting animprovement in operating income and a reduced tax rate. Dilutedearnings per share (EPS) were 92 cents in the third quarter comparedwith 75 cents in the third quarter of the prior year. Diluted EPSexcluding intangible asset amortization expense, net of tax, totaled99 cents compared with 82 cents in the same period last year.

Income from operations for the nine-month period increased to$542.7 million compared with $313.2 million during the same period inthe prior year. Net income for the first nine months of 2005 increasedto $334.8 million compared with $172.4 million in the same period of2004. Year-to-date earnings were $2.63 per diluted share compared with$2.12 per diluted share in the corresponding period of 2004. DilutedEPS excluding intangible asset amortization expense, net of tax,increased to $2.83 for the nine-month period compared with $2.27 forthe same period last year.

Business-Segment Results

Excluding the effect of foreign exchange, sales of scientificproducts and services in the third quarter totaled $1,058.9 million,an 11.9 percent increase compared with the same period in 2004, with6.7 points of organic growth in the core scientific-research market.The organic sales growth was driven by strong demand across virtuallyall segments of this market. Operating income increased to $144.9million from $112.3 million in the corresponding period of 2004.

Year to date, excluding the effect of foreign exchange, sales ofscientific products and services increased 22.9 percent to $3,047.0million compared with $2,478.5 million in the first nine months of2004. Operating income grew 63.3 percent in the nine-month period to$416.5 million compared with $255.1 million in the same period in2004.

Sales of healthcare products and services increased to $317.5million in the third quarter, a 15.5 percent increase compared with$275.0 million in the prior year's quarter, primarily reflectingbroad-based demand for Fisher's immunohistochemistry products andincreased sales of clinical-laboratory supplies. Organic sales growthfor the period totaled 4.8 percent. Operating income increased to$41.7 million compared with $32.4 million in the third quarter lastyear.

For the first nine months, sales of healthcare products andservices totaled $980.4 million compared with $721.9 million in thefirst nine months of 2004. Year-to-date operating income more thandoubled to $126.3 million from $56.5 million in the correspondingperiod last year.

Third-quarter sales in the laboratory-workstations segmentincreased to $53.3 million, a 19.8 percent increase from $44.5 millionin the prior year. The segment reported an operating loss of $0.3million in the quarter, compared with operating income of $0.8 millionin the same period last year. Backlog totaled $113.2 million at theend of the quarter compared with $128.7 million at the same time in2004.

Year-to-date sales in the laboratory-workstations segment were$150.1 million compared with $126.3 million in the prior-year period.Operating income for the nine-month period was break even, comparedwith $1.9 million in the prior year.

Recent Transaction

On Oct. 3, Fisher Scientific completed the acquisition ofprivately held Duke Scientific Corporation. Utilizing its uniquemicrosphere technology, Duke Scientific produces nanometer-particlemicroscopic beads used in laboratories for quality control andanalysis, instrument calibration, as well as diagnostic-test kits. Theacquisition enhances Fisher's portfolio of higher-margin proprietaryproducts.

Company Outlook

For 2005, Fisher Scientific expects to achieve its revenue growthtarget, excluding foreign-exchange effects, of approximately 21percent. The company is raising its 2005 earnings guidance to a rangeof $3.52 to $3.57 per diluted share from its previously announcedrange of $3.47 to $3.52 per diluted share, reflecting continued strongoperating results and a lower tax rate. Diluted EPS excludingintangible asset amortization expense, net of tax, is expected to bein the range of $3.79 to $3.84.

Fisher expects to be at the high end of its operating cash flowrange of $560 million to $590 million, reflecting strong operatingearnings and continued improvements in working capital management. For2005, the company expects capital expenditures to total approximately$130 million. As a result, Fisher expects free cash flow for 2005 willbe approximately $450 million, exceeding its previous estimate of $420million.

Fisher Scientific's earnings guidance excludes one-time costs forthe Apogent transaction of approximately $60 million ($38.5 million,net of tax) related to inventory step-up amounts, restructuring andother integration costs in 2005. These one-time costs include cashcharges of approximately $40 million. The adjusted earnings guidancealso excludes $71 million ($45 million, net of tax) of chargesassociated with debt refinancings and $16 million, net of tax, gain onthe sale of Atos.

For 2006, Fisher Scientific expects total revenue growth,including the effect of acquisitions completed to date, to be in the 8percent to 9 percent range with organic growth in the range of 6percent to 7 percent. For the full year 2006, Fisher expects operatingmargins to approach 14 percent. The company projects 2006 earningswill be at least $4.05 per diluted share, with diluted EPS excludingintangible asset amortization expense, net of tax, of at least $4.35.When the company announces its fourth-quarter earnings it will providea range for 2006 EPS. The company's guidance does not include theeffect of equity-based compensation expense, which is expected to beapproximately 30 cents per share, similar to the amount per shareexpected in 2005. Fisher projects 2006 cash from operations of atleast $675 million and free cash flow of at least $525 million.

Conference Call Scheduled

Fisher will host a teleconference on Wednesday, Nov. 9, to discussits third-quarter financial results and guidance for 2005 and 2006.
Live Conference Call

Dial-in: 800-299-8538, Domestic
617-786-2902, International

Title: Fisher Scientific Earnings Call (no access code needed)

Audio Replay

Access #: 888-286-8010, Domestic
617-801-6888, International

Replay Passcode: 37828541

The replay will be available for two weeks following theconference call. The conference call will also be webcast on Fisher'sWeb site (www.fisherscientific.com) and will be archived until Dec. 9.

Fisher Scientific: A World Leader in Serving Science

Fisher Scientific International Inc. (NYSE: FSH) is a leadingprovider of products and services to the scientific community. Fisherfacilitates discovery by supplying researchers and clinicians in labsaround the world with the tools they need. We serve pharmaceutical andbiotech companies; colleges and universities; medical-researchinstitutions; hospitals; reference, quality-control, process-controland R&D labs in various industries; as well as government agencies.From biochemicals, cell-culture media and proprietary RNAi technologyto rapid-diagnostic tests, safety products and other consumablesupplies, Fisher provides more than 600,000 products and services.This broad offering, combined with Fisher's globally integrated supplychain and unmatched sales and marketing presence, helps make our350,000 customers more efficient and effective at what they do.

Founded in 1902, Fisher Scientific is a FORTUNE 500 company and isa component of the S&P 500 Index. Fisher has approximately 17,500employees worldwide, and our annual revenues are expected to exceed$5.5 billion in 2005. Fisher Scientific is a company committed to highstandards and delivering on our promises -- to customers, shareholdersand employees alike. Additional information about Fisher is availableon the company's Web site at www.fisherscientific.com.

Use of Non-GAAP Financial Measures

To supplement Fisher Scientific's financial statements presentedin accordance with accounting principles generally accepted in theUnited States of America (GAAP), the company provides certain non-GAAPmeasures of financial performance and liquidity, as more fullydiscussed below.

Fisher Scientific defines adjusted net income, adjusted dilutednet income per share (also referred to as adjusted diluted earningsper share), adjusted operating income and adjusted operating margin asnet income, diluted net income per share, operating income andoperating margin, respectively, each computed in accordance with GAAP,excluding items that the company considers to be nonrecurring to thecompany's operations. The company calculates and discloses thesenon-GAAP measures because it believes that these measures may assistinvestors in evaluating trends of the company's operating resultswithout regard to items that are not considered recurring. Fisherdefines adjusted diluted net income per share excluding intangibleasset amortization as adjusted diluted net income per share lessamortization of intangible assets as calculated on a per diluted sharebasis. The company calculates and discloses this measure because itbelieves that the exclusion of the intangibles amortization may assistinvestors in evaluating the company's operating results that areconsistent over time for both newly acquired and historicalbusinesses. The company defines free cash flow as cash provided byoperating activities less capital expenditures, each computed inaccordance with GAAP. Fisher Scientific believes that free cash flowis a useful measure of liquidity.

Investors should recognize these non-GAAP measures may not becomparable to similarly titled measures of other companies and thatthe measures presented are not a substitute or alternative formeasures of financial performance determined in accordance with GAAP.

Forward-looking Statements

This announcement includes "forward-looking statements" within themeaning of the Private Securities Litigation Reform Act of 1995. Allsuch statements are based on current expectations and projectionsabout future events. No assurances can be given that FisherScientific's assumptions and expectations will prove to have beencorrect, and actual results could vary materially from theseassumptions and expectations. Important factors that could causeactual results to differ materially from the results predicted includechallenges presented by our acquisitions; economic and political risksrelated to our international operations; changes in the healthcareindustry; the impact of government regulation; dependence on ourcustomers' research and development efforts; and changes ordisruptions in our relationships with our customers, suppliers and keyemployees, together with other potential risks and uncertainties, allof which are detailed under the captions "Risk Factors" and"Management's Discussion and Analysis of Financial Condition andResults of Operations" in Fisher Scientific's annual reports on Form10-K and its other filings with the Securities and ExchangeCommission. Copies of such reports are available on FisherScientific's Web site at www.fisherscientific.com and on the SEC's Website at www.sec.gov. Fisher Scientific undertakes no obligation topublicly update or revise any forward-looking statements, whether as aresult of new information, future events or otherwise.
Table 1
Fisher Scientific International Inc.
Consolidated Statement of Operations
(in millions, except per share data)
(UNAUDITED)

Three Months Ended Nine Months Ended
September 30, September 30,
------------------- -------------------
2005 2004 2005 2004
--------- --------- --------- ---------
Net sales $1,413.0 $1,254.3 $4,155.5 $3,306.0

Cost of sales 930.0 896.9 2,742.8 2,375.7

Selling, general and
administrative expense 309.7 264.8 922.7 687.1

Restructuring expense 4.3 1.6 17.6 1.6
-------- -------- -------- --------

Operating income 169.0 91.0 472.4 241.6

Interest expense 21.9 28.7 80.1 73.7

Other expense, net 36.0 14.9 63.7 15.2
-------- -------- -------- --------

Income from continuing
operations before income taxes 111.1 47.4 328.6 152.7

Income tax provision 17.9 12.5 73.9 41.5
-------- -------- -------- --------

Income from continuing
operations 93.2 34.9 254.7 111.2

Income from discontinued
operations, including
gain on disposal of $0.3
and $17.0, net of tax for
the three- and nine-month
periods ended
September 30,
2005, respectively 0.3 1.2 17.2 4.2
-------- -------- -------- --------


Net income $ 93.5 $ 36.1 $ 271.9 $ 115.4
======== ======== ======== ========

Basic net income per common
share:
Income from continuing
operations $ 0.77 $ 0.35 $ 2.11 $ 1.46
Income from discontinued
operations 0.00 0.01 0.14 0.06
-------- -------- -------- --------
Net income $ 0.77 $ 0.36 $ 2.25 $ 1.52
======== ======== ======== ========


Diluted net income per
common share:
Income from continuing
operations $ 0.73 $ 0.33 $ 2.00 $ 1.37
Income from discontinued
operations 0.00 0.01 0.14 0.05
-------- -------- -------- --------
Net income $ 0.73 $ 0.34 $ 2.14 $ 1.42
======== ======== ======== ========

Weighted average common shares
outstanding:
Basic 122.2 99.2 120.9 75.7
======== ======== ======== ========
Diluted 128.5 106.3 127.2 81.5
======== ======== ======== ========

Atos Medical Holding AB was sold on April 5, 2005, and is
reflected as a discontinued operation for all periods presented.


Table 2
Fisher Scientific International Inc.
Segment Results
(in millions)
(UNAUDITED)

Three Months Ended Nine Months Ended
September 30, September 30,
-------------------------- --------------------------
Growth Growth
2005 Rate 2004 2005 Rate 2004
--------- ------ --------- --------- ------ ---------
Net sales

Scientific
Products and
Services $1,060.1 12.1% $ 945.9 $3,074.3 24.0% $2,478.5

Healthcare
Products and
Services 317.5 15.5% 275.0 980.4 35.8% 721.9

Laboratory
Workstations 53.3 19.8% 44.5 150.1 18.8% 126.3

Eliminations (17.9) (11.1) (49.3) (20.7)
--------- --------- --------- ---------

Total $1,413.0 12.7% $1,254.3 $4,155.5 25.7% $3,306.0
========= ========= ========= =========


Three Months Ended
September 30,
-------------------------------
Operating Operating
2005 Margin 2004 Margin
------ -------- ------ --------
Operating income

Scientific Products and Services $144.9 13.7% $112.3 11.9%

Healthcare Products and Services 41.7 13.1% 32.4 11.8%

Laboratory Workstations (0.3) -0.6% 0.8 1.8%

Eliminations 0.1 (0.3)
------ ------

Segment sub-total 186.4 13.2% 145.2 11.6%
------ ------

Restructuring expense (4.3) (1.6)
Acquisition and integration costs (12.5) (8.2)
Inventory step-up (0.6) (44.4)
------ ------

Operating income $169.0 12.0% $ 91.0 7.3%
====== ======


Nine Months Ended
September 30,
--------------------------------
Operating Operating
2005 Margin 2004 Margin
------ -------- ------ ---------
Operating income

Scientific Products and Services $416.5 13.5% $255.1 10.3%

Healthcare Products and Services 126.3 12.9% 56.5 7.8%

Laboratory Workstations - 0.0% 1.9 1.5%

Eliminations (0.1) (0.3)
------ ------

Segment sub-total 542.7 13.1% 313.2 9.5%
------ ------

Restructuring expense (17.6) (1.6)
Acquisition and integration costs (32.0) (9.7)
Inventory step-up (20.7) (60.3)
------ ------

Operating income $472.4 11.4% $241.6 7.3%
====== ======


Table 3
Fisher Scientific International Inc.
Condensed Consolidated Balance Sheet
(in millions)


September 30, December 31,
2005 2004
------------- ------------
(UNAUDITED)
ASSETS

Current assets:
Cash and cash equivalents $ 189.2 $ 162.5
Accounts receivable 730.8 632.8
Inventories 603.2 622.4
Other current assets 289.5 264.5
Assets held for sale - 94.2
---------- ----------
Total current assets 1,812.7 1,776.4

Property, plant and equipment 820.6 785.4
Goodwill 3,767.5 3,756.9
Intangible assets 1,589.4 1,565.4
Other assets 184.0 206.1
---------- ----------
Total assets $ 8,174.2 $ 8,090.2
========== ==========

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:
Short-term debt $ 39.5 $ 39.4
Accounts payable 476.7 468.5
Accrued and other current liabilities 397.9 452.9
Liabilities held for sale - 8.9
---------- ----------
Total current liabilities 914.1 969.7

Long-term debt 2,152.8 2,309.2
Other long-term liabilities 939.0 941.3
---------- ----------
Total liabilities 4,005.9 4,220.2
---------- ----------

Stockholders' equity 4,168.3 3,870.0
---------- ----------
Total liabilities and
stockholders' equity $ 8,174.2 $ 8,090.2
========== ==========

Atos Medical Holding AB was sold on April 5, 2005, and is
reflected as a discontinued operation for all periods presented.



Table 4
Fisher Scientific International Inc.
Condensed Consolidated Statement of Cash Flows
(in millions)
(UNAUDITED)

Nine Months Ended
September 30,
-------------------
2005 2004
--------- ---------

Cash flows from operating activities:
Net income $ 271.9 $ 115.4
Depreciation and amortization 149.5 92.2
Other adjustments to reconcile net income to
cash provided by operating activities 94.4 29.5
Changes in working capital and other assets
and liabilities (120.0) 5.4
-------- --------
Cash provided by operating activities 395.8 242.5
-------- --------

Cash flows from investing activities:
Capital expenditures (100.3) (57.1)
Acquisitions, net of cash acquired (263.8) (326.2)
Proceeds from sale of business 109.5 -
Other investing activities 8.0 (2.3)
-------- --------
Cash used in investing activities (246.6) (385.6)
-------- --------

Cash flows from financing activities:
Proceeds from stock options exercised 119.0 92.1
Net change in debt (150.1) 290.7
Other financing activities (78.3) (26.8)
-------- --------
Cash (used in) provided by financing
activities (109.4) 356.0
-------- --------

Effect of exchange rate changes on cash and cash
equivalents (13.1) (0.3)
-------- --------

Net change in cash and cash equivalents 26.7 212.6

Cash and cash equivalents - beginning of period 162.5 83.8
-------- --------

Cash and cash equivalents - end of period $ 189.2 $ 296.4
======== ========


Table 5
Fisher Scientific International Inc.
Statement of Operations
Supplemental Information
(in millions, except per share data)
(UNAUDITED)

Three Months Ended
------------------------------------------------------
September 30, 2005 September 30, 2004
-------------------------- ---------------------------
As Adjust- As As Adjust- As
Reported ments Adjusted Reported ments Adjusted
--------- ------- -------- --------- -------- --------

Net sales $1,413.0 $- $1,413.0 1,254.3 $- $1,254.3

Cost of sales 930.0 (6.7) 923.3 896.9 (46.0) 850.9

Selling, general
and
administrative
expense 309.7 (6.4) 303.3 264.8 (6.6) 258.2

Restructuring
expense 4.3 (4.3) - 1.6 (1.6) -
--------- ------- -------- --------- -------- --------

Operating
income 169.0 17.4 186.4 91.0 54.2 145.2

Interest
expense 21.9 5.3 27.2 28.7 - 28.7

Other (income)
expense, net 36.0 (38.3) (2.3) 14.9 (15.5) (0.6)
--------- ------- -------- --------- -------- --------

Income from
continuing
operations
before income
taxes 111.1 50.4 161.5 47.4 69.7 117.1

Income tax
provision 17.9 24.9 42.8 12.5 25.6 38.1
--------- ------- -------- --------- -------- --------

Income from
continuing
operations 93.2 25.5 118.7 34.9 44.1 79.0

Income from
discontinued
operations,
including
gain on
disposal of
$0.3, net of
tax for
the
three-month
period ended
September 30,
2005 0.3 (0.3) - 1.2 - 1.2
--------- ------- -------- --------- -------- --------

Net income $93.5 $25.2 $118.7 $36.1 $44.1 $80.2
========= ======= ======== ========= ======== ========

Diluted net
income per
common share $0.73 $0.19 $0.92 $0.34 $0.41 $0.75
========= ======= ======== ========= ======== ========

Diluted weighted
average common
shares
outstanding 128.5 128.5 106.3 106.3
========= ======== ========= ========



Additional Supplemental Information and
Reconciliation of GAAP to Non-GAAP EPS
---------------------------------------
GAAP diluted
earnings per
share $0.73 $0.34

Adjustments
(above) 0.19 0.41

Intangible asset
amortization,
net of tax 0.07 0.07
--------- --------

Diluted earnings
per share,
excluding
adjustments
and intangible
asset
amortization,
net of tax $0.99 $0.82
========= ========


Atos Medical Holding AB was sold on April 5, 2005, and is
reflected as a discontinued operation for all periods presented.

Table 5A
Fisher Scientific International Inc.
Statement of Operations
Supplemental Information - Adjustments
(in millions)
(unaudited)


Three Months Ended September 30, 2005

Restruct-
Pro Forma Cost of SG&A uring Operating Interest Other
Adjustment Sales Expense Expense Income Expense Expense
------------- ------- ------- ---------- --------- -------- -------
(1) Acquisition
and
integration
costs $(3.9) $(5.6) $- $9.5 $- $-
(2) Asset
impairment
and other
costs (2.8) (0.8) - 3.6 - -
(3) Debt
refinancing
costs - - - - - (38.3)
(4) Gain on
interest
rate swap - - - - 5.3 -
(5) Restructuring
expense - - (4.3) 4.3 - -
(6) Atos Medical
Holding AB - - - - - -
(7) Income taxes - - - - - -
------- ------- ---------- --------- -------- -------
$(6.7) $(6.4) $(4.3) $17.4 $5.3 $(38.3)
======= ======= ========== ========= ======== =======


Three Months Ended September 30, 2005

Income from
Continuing
Operations Income Income
Before Income from from
Pro Forma Income Tax Continuing Discontinued Net
Adjustment Taxes Provision Operations Operations Income
------------- ---------- --------- ---------- ----------- ------
(1) Acquisition
and
integration
costs $9.5 $3.4 $6.1 $- $6.1
(2) Asset
impairment
and other
costs 3.6 1.3 2.3 - 2.3
(3) Debt
refinancing
costs 38.3 13.8 24.5 - 24.5
(4) Gain on
interest
rate swap (5.3) (1.9) (3.4) - (3.4)
(5) Restructuring
expense 4.3 1.5 2.8 - 2.8
(6) Atos Medical
Holding AB - - - (0.3) (0.3)
(7) Income taxes - 6.8 (6.8) - (6.8)
---------- ------ ---------- ---------- ------
$50.4 $24.9 $25.5 $(0.3) $25.2
========== ====== ========== ========== ======

Three Months Ended September 30, 2004

Restruct-
Pro Forma Cost of SG&A uring Operating Interest Other
Adjustment Sales Expense Expense Income Expense Expense
------------- ------- ------- ---------- --------- -------- -------
(1) Acquisition
and
integration
costs $(46.0) $(6.6) $- $52.6 $- $-
(3) Debt
refinancing
costs - - - - - (15.5)
(5) Restructuring
expense - - (1.6) 1.6 - -
------- ------- ---------- --------- -------- -------
$(46.0) $(6.6) $(1.6) $54.2 $- $(15.5)
======= ======= ========== ========= ======== =======

Three Months Ended September 30, 2004

Income from
Continuing
Operations Income Income
Before Income from from
Pro Forma Income Tax Continuing Discontinued Net
Adjustment Taxes Provision Operations Operations Income
------------- --------- --------- ---------- ----------- -------
(1) Acquisition
and
integration
costs $52.6 $19.3 $33.3 $- $33.3
(3) Debt
refinancing
costs 15.5 5.7 9.8 - 9.8
(5) Restructuring
expense 1.6 0.6 1.0 - 1.0
---------- ------ ---------- ---------- ------
$69.7 $25.6 $44.1 $- $44.1
========== ====== ========== ========== ======

(1) Represents planned inventory step-up ($0.6 and $44.4 before
tax in 2005 and 2004, respectively) and integration and other
costs ($8.9 and $8.2 before tax in 2005 and 2004, respectively).

(2) Represents non-cash write-off of long-lived assets and other
facility related charges associated with the closure/exit of
certain facilities and integration of business units.

(3) Represents refinancing costs primarily incurred in connection
with the cash tender offer and redemption of the 8% senior
subordinated notes and open market purchases of the 8 1/8% senior
subordinated notes. 2004 amounts represent charges associated with
deferred financing fees.

(4) Represents gain recognized on termination of interest rate
swaps.

(5) Represents restructuring expenses, including employee
termination and other exit costs associated with various
consolidation projects.

(6) Represents the gain on sale of Atos Medical Holding AB during
the period.

(7) Represents a credit related to finalizing certain domestic and
foreign tax audits and negotiations.


Table 6
Fisher Scientific International Inc.
Statement of Operations
Supplemental Information
(in millions, except per share data)
(UNAUDITED)

Nine Months Ended
------------------------------------------------------
September 30, 2005 September 30, 2004
-------------------------- ---------------------------
As Adjust- As As Adjust- As
Reported ments Adjusted Reported ments Adjusted
------------------------------------------------------

Net sales $4,155.5 $- $4,155.5 $3,306.0 $- $3,306.0

Cost of sales 2,742.8 (31.7) 2,711.1 2,375.7 (61.9) 2,313.8

Selling, general
and
administrative
expense 922.7 (21.0) 901.7 687.1 (8.1) 679.0

Restructuring
expense 17.6 (17.6) - 1.6 (1.6) -
--------- ------ --------- ---------- ------ ---------

Operating
income 472.4 70.3 542.7 241.6 71.6 313.2

Interest
expense 80.1 5.3 85.4 73.7 - 73.7

Other (income)
expense, net 63.7 (68.6) (4.9) 15.2 (17.7) (2.5)
--------- ------ --------- ---------- ------ ---------

Income from
continuing
operations
before income
taxes 328.6 133.6 462.2 152.7 89.3 242.0

Income tax
provision 73.9 54.4 128.3 41.5 32.3 73.8
--------- ------ --------- ---------- ------ ---------

Income from
continuing
operations 254.7 79.2 333.9 111.2 57.0 168.2

Income from
discontinued
operations
including
gain on
disposal of
$17.0, net
of tax for
the
nine-month
period ended
September 30,
2005 17.2 (16.3) 0.9 4.2 - 4.2
--------- ------ --------- ---------- ------ ---------

Net income $271.9 $62.9 $334.8 $115.4 $57.0 $172.4
========= ====== ========= ========== ====== =========

Diluted net
income per
common share $2.14 $0.49 $2.63 $1.42 $0.70 $2.12
========= ====== ========= ========== ====== =========

Diluted weighted
average common
shares
outstanding 127.2 127.2 81.5 81.5
========= ========= ========== =========



Additional Supplemental Information and
Reconciliation of GAAP to Non-GAAP EPS
----------------------------------------
GAAP diluted
earnings per
share $2.14 $1.42

Adjustments
(above) 0.49 0.70

Intangible asset
amortization,
net of tax 0.20 0.15
--------- ----------

Diluted earnings per
share, excluding
adjustments
and intangible
asset
amortization,
net of tax $2.83 $2.27
========= ==========

Atos Medical Holding AB was sold on April 5, 2005, and is
reflected as a discontinued operation for all periods presented.



Table 6A
Fisher Scientific International Inc.
Statement of Operations
Supplemental Information - Adjustments
(in millions)
(unaudited)

----------------------------------------------------------------------
Nine Months Ended September 30, 2005
----------------------------------------------------------------------
Restruct-
Pro Forma Cost of SG&A uring Operating Interest Other
Adjustment Sales Expense Expense Income Expense Expense
----------------- ------- -------- --------- --------- ---------------
(1)Acquisition
and
integration
costs $(28.2) $(16.4) $ - $ 44.6 $ - $ 0.5
(2)Asset
impairment
and other
costs (3.5) (4.6) - 8.1 - -
(3)Debt
refinancing
costs - - - - - (70.5)
(4)Interest rate
swap - - - - 5.3 -
(5)Gain on sale
of
investment - - - - - 1.4
(6)Restructuring
expense - - (17.6) 17.6 - -
(7)Atos Medical
Holding AB - - - - - -
(8)Income taxes - - - - -
------ ------ -------- --------- ------ ------
$(31.7) $(21.0) $ (17.6) $ 70.3 $ 5.3 $(68.6)
====== ====== ======== ======== ====== ======


Income from
Continuing
Operations Income Income
Before Income from from
Pro Forma Income Tax Continuing Discontinued Net
Adjustment Taxes Provision Operations Operations Income
-------------------------------------- ----------------------- -------
(1)Acquisition
and
integration
costs $ 44.1 $ 15.5 $ 28.6 $ - $ 28.6
(2)Asset
impairment
and other
costs 8.1 2.9 5.2 - 5.2
(3)Debt
refinancing
costs 70.5 25.4 45.1 - 45.1
(4)Interest rate
swap (5.3) (1.9) (3.4) - (3.4)
(5)Gain on sale
of investment (1.4) (0.5) (0.9) - (0.9)
(6)Restructuring
expense 17.6 6.2 11.4 - 11.4
(7)Atos Medical
Holding AB - - - (16.3) (16.3)
(8)Income taxes - 6.8 (6.8) - (6.8)
--------- ------- --------- ---------- ------
$ 133.6 $ 54.4 $ 79.2 $ (16.3) $ 62.9
========= ======= ========= ========== ======


----------------------------------------------------------------------
Nine Months Ended September 30, 2004
----------------------------------------------------------------------
Restruct-
Pro Forma Cost of SG&A uring Operating Interest Other
Adjustment Sales Expense Expense Income Expense Expense
------------------------- ------- --------- --------- -------- -------
(1)Acquisition
and
integration
costs $(61.9) $(8.1) $ - $ 70.0 $ - $ -
(3)Debt
refinancing
costs - - - - - (15.5)
(6)Restructuring
expense - - (1.6) 1.6 - -
(9)Termination of
F/X contract - - - - - (2.2)
------ ----- -------- -------- ------ ------
$(61.9) $(8.1) $ (1.6) $ 71.6 $ - $(17.7)
====== ===== ======== ======== ====== ======


Income from
Continuing
Operations Income Income
Before Income from from
Pro Forma Income Tax Continuing Discontinued Net
Adjustment Taxes Provision Operations Operations Income
--------------------------------------- ----------------------- ------
(1)Acquisition
and
integration
costs $ 70.0 $ 25.2 $ 44.8 $ - $44.8
(3)Debt
refinancing
costs 15.5 5.7 9.8 - 9.8
(6)Restructuring
expense 1.6 0.6 1.0 - 1.0
(9)Termination of
F/X contract 2.2 0.8 1.4 - 1.4
--------- ------- --------- ---------- -----
$ 89.3 $ 32.3 $ 57.0 $ - $57.0
========= ======= ========= ========== =====


(1) Represents planned inventory step-up ($20.7 and $60.3 before tax
in 2005 and 2004, respectively), integration and other costs
($23.9 and $9.7 before tax in 2005 and 2004, respectively) and
other nonrecurring income ($0.5 and $0.0 before tax in 2005 and
2004, respectively) associated with acquisitions and integration.

(2) Represents non-cash write-off of long-lived assets and other
facility related charges associated with the closure/exit of
certain facilities and integration of business units.

(3) Represents refinancing costs primarily incurred in connection with
the cash tender offer and redemption of the 8% senior subordinated
notes and the cash tender offer and open market purchases of the 8
1/8% senior subordinated notes. 2004 amounts represent charges
associated with deferred financing fees.

(4) Represents gain recognized on termination of interest rate swaps.

(5) Represents a gain attributable to the sale of an investment.

(6) Represents restructuring expenses, including employee termination
and other exit costs associated with various consolidation
projects.

(7) Represents the gain on sale of Atos Medical Holding AB, net of
stock compensation expense related to the acceleration of stock
options.

(8) Represents a credit related to finalizing certain domestic and
foreign tax audits and negotiations.

(9) Represents charge associated with termination of a foreign
currency exchange contract.