Nellcor buy causes Mallinckrodt loss

September 2, 1998

One-time charges related to its acquisition of Nellcor Puritan Bennett contributed to a $291.9 million net loss for St. Louis-based Mallinckrodt. The company also reported that earnings in its medical imaging business declined as a result of falling

One-time charges related to its acquisition of Nellcor Puritan Bennett contributed to a $291.9 million net loss for St. Louis-based Mallinckrodt. The company also reported that earnings in its medical imaging business declined as a result of falling prices for contrast media.

For the year, Mallinckrodt reported sales of $2.37 billion, up sharply from $1.7 billion the year before, due to the acquisition of revenues from the Nellcor business. Earnings from continuing operations, not including charges related to the Nellcor purchase, were $132.9 million. Mallinckrodt posted a net profit of $190.1 million the prior year.