Item 6. SELECTED FINANCIAL DATA

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Item 6. SELECTED FINANCIAL DATA

(dollars in thousands, except per share data)


Income and Share Data:	2012			2011 (1)			2010			2009			2008
Net sales	$	314,560		$	289,962		$	269,047		$	263,956		$	257,420
Gross margin(2)		75.0	%		77.6	%		79.6	%		78.8	%		79.3	%
Selling, general and administrative expenses(2)		13.3	%		12.4	%		12.2	%		12.8	%		14.5	%
Research and development expenses(2)		8.9	%		9.0	%		9.3	%		8.9	%		8.7	%
Operating income(2)		52.8	%		56.2	%		58.1	%		57.1	%		56.1	%
Earnings before income taxes(2)		51.6	%		56.9	%		58.1	%		58.9	%		59.8	%
Net earnings(2)		35.7	%		38.7	%		40.8	%		39.9	%		40.2	%
Net earnings	$	112,331		$	112,302		$	109,776		$	105,242		$	103,558
Diluted earnings per share	$	3.04		$	3.02		$	2.94		$	2.78		$	2.64
Average common and common equivalent shares — diluted (in thousands)		37,006			37,172			37,347			37,900			39,247
Closing price per share:
High	$	85.13		$	83.37		$	69.65		$	81.90		$	79.73
Low	$	62.37		$	56.14		$	57.10		$	45.64		$	56.20

Balance Sheet Data as of June 30:	2012			2011			2010			2009			2008
Cash, cash equivalents and short-term available-for-sale investments	$	268,986		$	140,813		$	138,811		$	202,887		$	206,345
Receivables		37,741			37,860			34,137			31,153			33,332
Inventories		38,277			44,906			13,737			11,269			9,515
Working capital		310,757			212,229			184,016			239,944			238,194
Total assets		719,324			617,670			518,816			472,005			507,369

Cash Flow Data:	2012			2011			2010			2009			2008
Net cash provided by operating activities	$	126,746		$	127,194		$	111,260		$	111,321		$	115,317
Capital expenditures		6,017			3,630			4,644			6,556			16,365
Cash dividends paid per common share(3)		1.11			1.07			1.03			0.75			0.00

Financial Ratios:	2012			2011			2010			2009			2008
Return on average equity		17.8	%		20.6	%		22.9	%		22.3	%		22.4	%
Return on average assets		16.8	%		19.8	%		22.2	%		21.5	%		21.5	%
Current ratio		9.7			12.7			11.8			16.5			12.8
Price to earnings ratio(4)		24			28			20			23			29

Employee Data as of June 30:	2012			2011			2010			2009			2008
Full-time employees		783			763			684			687			666

(1)	The Company acquired Boston Biochem, Inc. on April 1, 2011 and Tocris Holdings Limited and subsidiaries on April 28, 2011.

(2)	As a percent of net sales.

(3)	The Company’s Board of Directors periodically considers the payment of cash dividends.

(4)	Common share price at end of fiscal year (June 30) divided by the diluted earnings per share for the respective fiscal year.

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Item 6. SELECTED FINANCIAL DATA

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