Invacare 2005 Annual Report Download - page 10

16฀17
Common฀Share฀Data฀
Invacare’s฀Common฀Shares,฀without฀par฀value,฀are฀
traded฀on฀the฀New฀York฀Stock฀Exchange฀(NYSE)฀
under฀the฀symbol฀IVC.฀There฀is฀no฀trading฀market฀
for฀the฀Company’s฀Class฀B฀Common฀Shares.฀฀
The฀range฀of฀high฀and฀low฀quarterly฀prices฀of฀the฀฀
Common฀Shares฀in฀each฀of฀the฀most฀recent฀fiscal฀
years฀is฀as฀follows:
฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀2005฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀2004฀ ฀
Qtr.฀Ended:฀฀ High฀฀ Low฀฀฀ High฀฀ Low฀
December฀31฀฀ $41.50฀$30.70฀ $52.00฀฀$43.72฀฀
September฀30฀฀ 44.87฀37.35฀ 47.16฀ 39.74฀
June฀30฀฀ 45.93฀40.96฀ 46.50฀฀ 39.34฀฀
March฀31฀฀ 48.08฀43.67฀ 46.50฀฀ 39.63฀
Dividends฀
During฀2005,฀the฀Board฀of฀Directors฀of฀Invacare฀
Corporation฀declared฀dividends฀of฀$.05฀per฀Com-
mon฀Share฀and฀$.045฀per฀Class฀B฀Common฀Share.฀
For฀information฀regarding฀limitations฀on฀the฀pay-
ment฀of฀dividends฀in฀the฀Company’s฀loan฀and฀note฀
agreements,฀see฀Long-Term฀Debt฀in฀the฀Notes฀to฀
the฀Consolidated฀Financial฀Statements.฀The฀Com-
mon฀Shares฀are฀entitled฀to฀receive฀cash฀dividends฀
at฀a฀rate฀of฀at฀least฀110%฀of฀cash฀dividends฀paid฀
on฀the฀Class฀B฀Common฀Shares.
Dividend฀Reinvestment฀and฀฀
Stock฀Purchase฀Plan฀
The฀Invacare฀Dividend฀Reinvestment฀and฀Stock฀
Purchase฀Plan฀provides฀shareholders฀of฀record฀
with฀a฀simple฀and฀convenient฀method฀of฀reinvest-
ing฀cash฀dividends฀and฀making฀optional฀cash฀
investments฀in฀additional฀shares,฀without฀fee.
Shareholder฀Communications฀
Communications฀regarding฀shareholder฀accounts,฀
dividend฀checks,฀the฀Dividend฀Reinvestment฀฀
and฀Stock฀Purchase฀Plan,฀changes฀of฀address,฀
transfer฀of฀ownership,฀or฀lost฀certificates฀should฀
be฀directed฀to฀Invacare’s฀transfer฀agent:
National฀City฀Bank฀Corporate฀Trust฀Operations฀
P.O.฀Box฀92301฀
Cleveland,฀Ohio฀44193-0900฀
Phone:฀800.622.6757฀
email:฀[e-mail]
Form฀10-K฀
Copies฀of฀the฀annual฀report฀on฀Form฀10-K฀are฀
available฀without฀charge฀upon฀request฀to:
Investor฀Relations฀Department฀
Invacare฀Corporation฀
P.O.฀Box฀4028฀
Elyria,฀OH฀44036-2125
Additional฀Information฀
Requests฀for฀any฀additional฀information฀should฀be฀
directed฀to฀the฀Investor฀Relations฀Department.฀If฀
you฀currently฀hold฀your฀stock฀in฀street฀name฀and฀
would฀like฀to฀receive฀shareholder฀information฀
directly฀and฀in฀a฀more฀timely฀fashion,฀please฀write฀
to฀the฀Investor฀Relations฀Department.
Annual฀Meeting฀of฀Shareholders฀
The฀Annual฀Meeting฀of฀Shareholders฀will฀be฀held฀
at฀the฀Lorain฀County฀Community฀College,฀Spitzer฀
Conference฀Center฀–฀Grand฀Room,฀1005฀North฀
Abbe฀Road,฀Elyria,฀Ohio,฀on฀Thursday,฀May฀25,฀
2006,฀at฀10:00฀a.m.
Number฀of฀Shareholders฀
The฀number฀of฀record฀holders฀of฀the฀Company’s฀
Common฀Shares฀and฀Class฀B฀Common฀Shares฀฀
as฀of฀February฀24,฀2006,฀was฀4,432฀and฀27,฀
respectively.
Principal฀Brand฀Names฀
Invacare฀is฀a฀registered฀trademark฀and฀“Yes,฀you฀
can.TM”฀and฀the฀blue฀medallion฀logo฀are฀trademarks฀
of฀Invacare฀Corporation.฀Throughout฀this฀report,฀
you฀will฀find฀many฀of฀the฀trademarks฀owned฀by฀
Invacare฀and/or฀its฀subsidiaries฀and฀used฀to฀฀
designate฀our฀products฀around฀the฀world.
Number฀of฀Associates฀
6,100
World฀Headquarters฀
Invacare฀Corporation฀
One฀Invacare฀Way฀
Elyria,฀Ohio฀44035฀U.S.A.฀
Phone:฀800.333.6900
Contact฀Information฀
Gregory฀C.฀Thompson฀
Chief฀Financial฀Officer฀
Phone:฀440.329.6111
information
corporate฀and฀
฀฀฀฀฀฀฀฀฀฀shareholder
Executive฀Officers
Board฀of฀Directors
Statements฀contained฀in฀this฀Form฀10-K฀may฀constitute฀forward-฀
looking฀statements฀within฀the฀meaning฀of฀the฀“Safe฀Harbor”฀
provisions฀of฀the฀Private฀Securities฀Litigation฀Reform฀Act฀of฀
1995.฀Terms฀such฀as฀“will,”฀“should,”฀“plan,”฀“intend,”฀“expect,”฀
“continue,”฀“forecast,”฀“believe,”฀“anticipate”฀and฀“seek,”฀as฀฀
well฀as฀similar฀comments,฀are฀forward-looking฀in฀nature.฀
Actual฀results฀and฀events฀may฀differ฀significantly฀from฀those฀
expressed฀or฀anticipated฀as฀a฀result฀of฀risks฀and฀uncertainties฀
which฀include,฀but฀are฀not฀limited฀to,฀the฀following:฀pricing฀
pressures,฀the฀success฀of฀the฀Company’s฀ongoing฀efforts฀to฀
reduce฀costs,฀increasing฀raw฀material฀costs,฀the฀consolidations฀฀
of฀health฀care฀customers฀and฀competitors,฀government฀budget-
ary฀and฀reimbursement฀issues฀at฀both฀the฀federal฀and฀state฀
level฀(including฀those฀that฀affect฀the฀sales฀of฀and฀margins฀on฀
product,฀along฀with฀the฀viability฀of฀customers),฀the฀ongoing฀
implementation฀of฀the฀Company’s฀North฀American฀enterprise฀
resource฀planning฀system,฀the฀ability฀to฀develop฀and฀sell฀new฀
products฀with฀higher฀functionality฀and฀lower฀costs,฀the฀effect฀
of฀offering฀customers฀competitive฀financing฀terms,฀the฀ability฀
to฀successfully฀identify,฀acquire฀and฀integrate฀strategic฀acqui-
sition฀candidates,฀the฀difficulties฀in฀managing฀and฀operating฀
businesses฀in฀many฀different฀foreign฀jurisdictions,฀the฀orderly฀
completion฀of฀facility฀consolidations,฀the฀vagaries฀of฀any฀฀
litigation฀or฀regulatory฀investigations฀that฀the฀Company฀may฀฀
be฀or฀become฀involved฀in฀at฀any฀time฀(including฀the฀previously฀
disclosed฀litigation฀with฀Respironics),฀the฀difficulties฀in฀acquiring฀
and฀maintaining฀a฀proprietary฀intellectual฀property฀ownership฀
position,฀the฀overall฀economic,฀market฀and฀industry฀growth฀
conditions,฀foreign฀currency฀and฀interest฀rate฀risks,฀Invacare’s฀
ability฀to฀improve฀financing฀terms฀and฀reduce฀working฀capital,฀
as฀well฀as฀the฀risks฀described฀in฀the฀Form฀10-K฀under฀the฀฀
caption฀“Risk฀Factors”฀and฀other฀risks฀described฀from฀time฀
to฀time฀in฀Invacare’s฀reports฀as฀filed฀with฀the฀Securities฀and฀
Exchange฀Commission.฀We฀undertake฀no฀obligation฀to฀review฀
or฀update฀these฀forward-looking฀statements฀or฀other฀information฀
contained฀herein.
Photo฀Credit
Manufacturing฀oxygen฀concentrators฀in฀China฀photo฀(page฀8):฀Peter฀Krouse฀฀
©฀12/11/2005฀The฀Plain฀Dealer.฀All฀rights฀reserved.฀Reprinted฀with฀permission.
A.฀Malachi฀Mixon,฀III฀฀
Chairman฀and฀Chief฀Executive฀Officer
Gerald฀B.฀Blouch฀
President฀and฀Chief฀Operating฀Officer
Joseph฀B.฀Richey,฀II฀
President฀–฀Invacare฀Technologies,฀฀
Senior฀Vice฀President฀–฀฀
Electronic฀and฀Design฀Engineering
James฀C.฀Boland฀(1) (2)฀
Vice฀Chairman฀
Cavaliers฀Operating฀Co.฀LLC
Michael฀F.฀Delaney฀(4)฀
Associate฀Director฀of฀Development฀
Paralyzed฀Veterans฀of฀America
Whitney฀Evans฀(2) (4)฀
Former฀Chairman฀of฀the฀฀
Board฀of฀Directors฀
Victory฀Technology,฀Inc.
C.฀Martin฀Harris,฀MD฀(4)฀
Chief฀Information฀Officer฀and฀Chairman฀฀
of฀the฀Information฀Technology฀Division฀฀
The฀Cleveland฀Clinic฀Foundation
Bernadine฀P.฀Healy,฀MD฀฀
Columnist฀and฀Health฀Editor฀
U.S.฀News฀and฀World฀Report฀
Former฀President฀and฀CEO฀
American฀Red฀Cross
John฀R.฀Kasich฀( 3)(4)฀
Managing฀Director฀
Investment฀Banking฀Group฀
Lehman฀Brothers
Dan฀T.฀Moore,฀III฀(1)(3)฀
Founder,฀President฀฀and฀฀
Chief฀Executive฀Officer฀
Dan฀T.฀Moore฀Co.
William฀M.฀Weber฀(1)(2)(3 )฀
Chief฀Executive฀Officer฀
Air฀Enterprises,฀LLC
฀
(1)฀Audit฀Committee฀
(2)฀Compensation฀Committee฀
(3)฀Nominating฀Committee฀
(4)฀Investment฀Committee
A.฀Malachi฀Mixon,฀III฀
Chairman฀and฀Chief฀Executive฀Officer
Gerald฀B.฀Blouch฀
President฀and฀Chief฀Operating฀Officer
Joseph฀B.฀Richey,฀II฀
President฀–฀Invacare฀Technologies,฀฀
Senior฀Vice฀President฀–฀฀
Electronic฀and฀Design฀Engineering
Gregory฀C.฀Thompson฀฀
Chief฀Financial฀Officer฀
Dale฀C.฀LaPorte฀
Senior฀Vice฀President฀–฀฀
Business฀Development฀
and฀General฀Counsel
Louis฀F.฀J.฀Slangen฀
Senior฀Vice฀President฀–฀฀
Global฀Market฀Development
Joseph฀S.฀Usaj฀
Senior฀Vice฀President฀–฀฀
Human฀Resources
directors฀฀
฀ ฀ ฀ and฀officers