sales for the first half of 2002 reach chf 166 8 million life science markethas experienced a pronounced slowdown in many sectors industry since beginning year tecan total reached firstsix months 2001 174 5 which represents decrease 0 2 local currencies this lower than expected growth is mainly attributable to reduced ex penditure by pharmaceutical and biotechnology industries while we significantreduction drug discovery also observed some resilience our other two markets genomics proteomics diagnostics during has main tained its marketshare all business areas implementation cost headcount reduction program manage fundamentals have implemented robustcoststabilization allowed us reduce expenses 9 90 however effortis not sufficientwith regard currentlevel company s high leverage on operating profitreached 23 7 or 14 firsthalf compared 28
