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ExamII-Financials - United States Securities and Exchange...

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1 United States Securities and Exchange Commission Washington, D.C. 20549 FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2005 Commission file number 1-14643 STERIS Corporation (Exact name of registrant as specified in its charter) Ohio 34-1482024 (State or other jurisdiction of incorporation or organization) (IRS Employer Identification No.) 5960 Heisley Road 440-354-2600 Mentor, Ohio 44060-1834 (Address of principal executive offices) (Registrant’s telephone number including area code) Item 1. Business GENERAL DEVELOPMENT OF BUSINESS Throughout this document, references to “STERIS Corporation,” “STERIS,” or the “Company,” are references to STERIS Corporation and its subsidiaries, except where the context makes it clear the reference is to STERIS Corporation itself and not its subsidiaries. The Company’s fiscal year ends on March 31. References to a particular “year” or “year-end” refer to the Company’s fiscal year. DESCRIPTION OF BUSINESS STERIS Corporation, an Ohio corporation organized in 1987, develops, manufactures, and markets infection prevention, contamination control, microbial reduction, and surgical and critical care support products and services for healthcare, pharmaceutical, scientific, research, industrial, and governmental customers throughout the world. The Company operates in three business segments: Healthcare, Life Sciences, and STERIS Isomedix Services (“Isomedix”).
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2 STERIS CORPORATION AND SUBSIDIARIES Consolidated Balance Sheets (in thousands) March 31, 2005 2004 Assets Current assets: Cash and cash equivalents $ 26,179 $ 80,408 Accounts receivable (net of allowances of $9,882 and $8,623, respectively) 281,401 253,797 Inventories, net 96,197 98,249 Current portion of deferred income taxes, net 6,426 18,246 Prepaid expenses and other current assets 9,929 10,338 Total current assets 420,132 461,038 Property, plant, and equipment, net 413,578 374,102 Goodwill and intangibles, net 350,156 230,993 Other assets 1,856 2,037 Total assets $ 1,185,722 $ 1,068,170 Liabilities and shareholders’ equity Current liabilities: Current portion of long-term indebtedness $ 4,889 $ 4,049 Accounts payable 67,550 67,988 Accrued income taxes 13,474 2,277 Accrued payroll and other related liabilities 41,716 41,972 Accrued expenses and other 94,186 72,502 Total current liabilities 221,815 188,788 Long-term indebtedness 104,274 109,090 Deferred income taxes, net 38,862 29,568 Other liabilities 65,133 60,025 Total liabilities 430,084 387,471 Serial preferred shares, without par value, 3,000 shares authorized; no shares issued or outstanding Common shares, without par value, 300,000 shares authorized; issued and outstanding shares of 69,627 and 69,946, respectively 211,657 224,999 Retained earnings 537,526 451,546 Accumulated other comprehensive income (loss): Minimum pension liability (5,974 ) (4,582)
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ExamII-Financials - United States Securities and Exchange...

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