SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 10-Q

(Mark One)

[X]      QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
         SECURITIES EXCHANGE ACT OF 1934

         For the quarterly period ended September 30, 2000

                                       OR

[ ]      TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE
         SECURITIES EXCHANGE ACT OF 1934

         For the transition period from ---------- to ----------


                        Commission File Number 333-24001


                           Packard BioScience Company
--------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)


                 Delaware                                     06-0676652
------------------------------------------            --------------------------
     (State or other jurisdiction of                       (I.R.S. Employer
      incorporation or organization)                      Identification No.)

800 Research Parkway, Meriden, Connecticut                       06450
------------------------------------------            --------------------------
 (Address of principal executive offices)                      (Zip Code)


Registrant's telephone number, including area code: 203-238-2351


Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days. YES [ X ] NO [  ]


Shares of Common Stock Outstanding at November 13, 2000:  66,729,649




<PAGE>



                   PACKARD BIOSCIENCE COMPANY AND SUBSIDIARIES
                                      INDEX



PART I.    FINANCIAL INFORMATION                                            Page
                                                                            ----
Item 1.    Financial Statements

           Condensed Consolidated Balance Sheets as of
           September 30, 2000 and December 31, 1999                            2

           Condensed Consolidated Statements of Income (Loss)for the
           Three and Nine Months ended September 30, 2000 and 1999             3

           Condensed Consolidated Statements of Cash Flows for the
           Nine Months Ended September 30, 2000 and 1999                       4

           Notes to Condensed Consolidated Financial Statements                5

Item 2.    Management's Discussion and Analysis of Financial
           Condition and Results of Operations                                11

Item 3.    Quantitative and Qualitative Disclosures About Market Risk         18


PART II.   OTHER INFORMATION

Item 1.    Legal Proceedings                                                  19

Item 6.    Exhibits and Reports on Form 8-K                                   19




<PAGE>
<TABLE>
<CAPTION>





                          PART I. FINANCIAL INFORMATION
                          ITEM 1. FINANCIAL STATEMENTS
                   PACKARD BIOSCIENCE COMPANY AND SUBSIDIARIES
                      CONDENSED CONSOLIDATED BALANCE SHEETS
                 AS OF SEPTEMBER 30, 2000 and DECEMBER 31, 1999
                                 (In thousands)

ASSETS                                                                         September 30, 2000        December 31, 1999
---------------------------------------------------------------                ------------------        -----------------
<S>                                                                            <C>                       <C>
CURRENT ASSETS:
      Cash and cash equivalents                                                     $ 52,828                  $  4,432
      Accounts receivable, net                                                        26,112                    34,163
      Inventories, net                                                                19,075                    18,791
      Deferred income taxes                                                            4,160                     3,695
      Net current assets of discontinued operations (Note 7)                          27,756                    31,382
      Other current assets                                                             3,913                     3,558
                                                                                    --------                  --------
             Total current assets                                                    133,844                    96,021
                                                                                    --------                  --------
PROPERTY, PLANT AND EQUIPMENT, at cost                                                27,332                    24,804
      Less:  Accumulated depreciation                                                (12,851)                  (11,560)
                                                                                    --------                  --------
                                                                                      14,481                    13,244
                                                                                    --------                  --------
OTHER ASSETS:
      Goodwill, net                                                                   20,415                    19,855
      Deferred financing costs, net                                                    4,538                     6,801
      Net noncurrent assets of discontinued operations (Note 7)                       38,404                    36,428
      Other                                                                            9,390                    10,209
                                                                                    --------                  --------
                                                                                      72,747                    73,293
                                                                                    --------                  --------
TOTAL ASSETS                                                                        $221,072                  $182,558
                                                                                    ========                  ========
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
---------------------------------------------------------------
CURRENT LIABILITIES:
      Notes payable                                                                 $  2,389                  $  2,429
      Current portion of long-term obligations                                         1,302                     1,787
      Accounts payable and accrued liabilities                                        17,775                    42,579
      Deferred income                                                                  9,250                    10,660
                                                                                    --------                  --------
             Total current liabilities                                                30,716                    57,455
                                                                                    --------                  --------
LONG-TERM OBLIGATIONS, net of current portion                                        171,397                   225,710
                                                                                    --------                  --------
DEFERRED INCOME TAXES                                                                  4,493                     4,471
                                                                                    --------                  --------
OTHER NONCURRENT LIABILITIES                                                           2,745                     2,812
                                                                                    --------                  --------
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY (DEFICIT) (Note 3):
      Common stock                                                                       164                       137
      Paid in capital                                                                117,835                     1,827
      Accumulated deficit                                                            (20,579)                  (12,895)
      Accumulated other comprehensive income
        (cumulative translation adjustment)                                              813                       527
                                                                                    --------                  --------
                                                                                      98,233                   (10,404)
      Less:  Treasury stock, at cost                                                 (86,083)                  (96,920)
             Deferred compensation                                                      (429)                     (566)
                                                                                    --------                  --------
                   Total stockholders' equity (deficit)                               11,721                  (107,890)
                                                                                    --------                  --------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)                                $221,072                  $182,558
                                                                                    ========                  ========

         The accompanying notes are an integral part of these condensed
                       consolidated financial statements.

</TABLE>
<PAGE>
<TABLE>
<CAPTION>



                   PACKARD BIOSCIENCE COMPANY AND SUBSIDIARIES
               CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS)
         FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999
                                 (In thousands)


                                                               Three Months Ended                  Nine Months Ended
                                                                  September 30,                      September 30,
                                                              2000             1999             2000              1999
                                                            -------------------------         --------------------------
<S>                                                     <C>               <C>             <C>               <C>

NET SALES                                                   $37,030           $36,871         $115,446          $112,360

COST OF SALES                                                16,818            18,946           50,770            53,820
                                                            -------           -------         --------          --------
GROSS PROFIT                                                 20,212            17,925           64,676            58,540

RESEARCH AND DEVELOPMENT EXPENSES                             6,674             5,748           19,950            16,693

SELLING, GENERAL AND ADMINISTRATIVE
  EXPENSES (Note 6)                                          11,962             9,952           39,328            29,357
                                                            -------           -------         --------          --------
INCOME FROM CONTINUING OPERATIONS                             1,576             2,225            5,398            12,490

INTEREST EXPENSE, NET                                        (3,410)           (5,337)         (13,715)          (15,692)

FOREIGN EXCHANGE TRANSACTION GAINS
  (LOSSES), NET                                                 (72)              136               32              (101)
                                                            -------           -------         --------          --------
LOSS FROM CONTINUING OPERATIONS BEFORE
  INCOME TAXES AND EXTRAORDINARY ITEMS                       (1,906)           (2,976)          (8,285)           (3,303)

(PROVISION FOR) BENEFIT FROM INCOME TAXES                       667              (768)           2,900              (842)
                                                            -------           -------         --------          --------
LOSS FROM CONTINUING OPERATIONS BEFORE
  EXTRAORDINARY ITEMS                                        (1,239)           (3,744)          (5,385)           (4,145)

INCOME FROM DISCONTINUED OPERATIONS,
  NET OF PROVISION FOR INCOME TAXES
  (Note 7)                                                    1,582             2,970              954             6,655
                                                            -------           -------         --------          --------
INCOME (LOSS) BEFORE EXTRAORDINARY ITEMS                        343              (774)          (4,431)            2,510

EXTRAORDINARY ITEMS, NET OF INCOME TAXES
  (Note 8)                                                     (615)               --              (48)               --
                                                            -------           -------         --------          --------
NET INCOME (LOSS)                                           $  (272)          $  (774)        $ (4,479)         $  2,510
                                                            =======           =======         ========          ========

         The accompanying notes are an integral part of these condensed
                       consolidated financial statements.


</TABLE>
<PAGE>
<TABLE>
<CAPTION>



                   PACKARD BIOSCIENCE COMPANY AND SUBSIDIARIES
                 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
              FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999
                                 (In thousands)
                                                                                     For the Nine Months Ended
                                                                                            September 30,
                                                                                   2000                     1999
                                                                                -----------------------------------
<S>                                                                          <C>                     <C>
OPERATING ACTIVITIES OF CONTINUING OPERATIONS:
       Net income (loss)                                                        ($  4,479)                $  2,510
       Adjustments to reconcile net income (loss) to loss from
         continuing operations:
           Income from discontinued operations, net                                   954                    6,655
                                                                                 --------                 --------
           Loss from continuing operations                                         (5,433)                  (4,145)
       Adjustments to reconcile loss from continuing operations
         to net cash provided by (used for) operating activities:
           Non-cash stock compensation charges (Note 6)                             4,724                       --
           Non-cash deferred financing fees writeoff (Note 8)                       2,383                       --
           Depreciation and amortization of intangibles                             5,287                    5,045
           Amortization of deferred financing costs                                 1,010                    1,159
           Other, net                                                                  (5)                    (230)
           Changes in operating assets and liabilities                            (15,562)                  (4,920)
                                                                                 --------                 --------
               Net cash used for continuing operations                             (7,596)                  (3,091)
               Net cash provided by (used for) discontinued operations             10,193                   (3,749)
                                                                                 --------                 --------
               Net cash provided by (used for) operating activities                 2,597                   (6,840)
                                                                                 --------                 --------
INVESTING ACTIVITIES OF CONTINUING OPERATIONS:
        Acquisitions of businesses, net of cash acquired                           (6,947)                  (4,546)
        Capital expenditures, net                                                  (4,555)                  (4,422)
        Product lines, patent rights and licenses acquired                           (794)                    (290)
                                                                                 --------                 --------
            Net cash used for continuing operations                               (12,296)                  (9,258)
            Net cash used for discontinued operations                              (3,399)                 (26,885)
                                                                                 --------                 --------
            Net cash used for investing activities                                (15,695)                 (36,143)
                                                                                 --------                 --------
FINANCING ACTIVITIES:
        Borrowings under long-term obligations                                     74,315                   52,342
        Repayments of long-term obligations                                      (125,856)                  (9,666)
        Purchase of treasury stock                                                   (124)                    (120)
        Proceeds from exercise of stock options                                     4,969                       62
        Proceeds from sale of common stock, net of expenses                       110,292                       42
                                                                                 --------                 --------
            Net cash provided by financing activities                              63,596                   42,660
                                                                                 --------                 --------

EFFECT OF EXCHANGE RATE CHANGES ON CASH                                            (2,047)                  (1,428)
                                                                                 --------                 --------

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS                               48,451                   (1,751)
CASH AND CASH EQUIVALENTS, beginning of period                                      7,576                    7,929
                                                                                 --------                 --------
                                                                                   56,027                    6,178

Cash of discontinued operations                                                    (3,199)                  (2,951)
                                                                                 --------                 --------
CASH AND CASH EQUIVALENTS, end of period                                         $ 52,828                 $  3,227
                                                                                 ========                 ========


         The accompanying notes are an integral part of these condensed
                       consolidated financial statements.



</TABLE>
<PAGE>



                   PACKARD BIOSCIENCE COMPANY AND SUBSIDIARIES
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS



The condensed  consolidated  financial  statements  and related  notes  included
herein have been prepared by Packard  BioScience Company (the "Company") without
audit, except for the December 31, 1999,  condensed  consolidated  balance sheet
which was derived  from the  Company's  Annual  Report on Form 10-K for the year
ended December 31, 1999 (the "Company's 1999 Form 10-K"),  pursuant to the rules
and regulations of the Securities and Exchange  Commission.  Certain information
and footnote  disclosures which normally accompany financial statements prepared
in accordance with generally  accepted  accounting  principles have been omitted
from the accompanying condensed consolidated financial statements,  as permitted
by the Securities and Exchange  Commission's rules and regulations.  The Company
believes that the  accompanying  disclosures  and notes are adequate to make the
financial  statements  not  misleading.  Such financial  statements  reflect all
adjustments  which are normal and recurring  and, in the opinion of  management,
necessary for a fair  presentation  of the results of  operations  and financial
position  of the  Company  for the  periods  reported  herein.  These  financial
statements  should  be read  in  conjunction  with  the  consolidated  financial
statements and notes thereto included in the Company's 1999 Form 10-K.


Note 1.  Basis of  Presentation and Significant Accounting Policies:
--------------------------------------------------------------------

General -

The accompanying  financial statements have been prepared in accordance with the
accounting policies described in Note 1 to the consolidated financial statements
included in the Company's 1999 Form 10-K. The Company's practices of recognizing
assets, liabilities,  revenues, expenses and other transactions which impact the
accompanying financial information are consistent with such note.

The Company's condensed  consolidated financial statements have been restated to
reflect the net assets and operating  results of the Canberra  operating segment
as a  discontinued  operation (see Note 7). The  accompanying  notes (except for
Note 7) relate only to the Company's continuing operations.

New Accounting Standards -

In June 1998,  the  Financial  Accounting  Standards  Board issued  Statement of
Financial  Accounting Standard No. 133,  "Accounting for Derivative  Instruments
and Hedging  Activities"  ("SFAS No. 133"), which establishes the accounting and
reporting standards for derivative  instruments and for hedging activities.  The
Company purchases forward contracts to cover foreign exchange  fluctuation risks
on  intercompany  sales to certain of its  foreign  operations.  Such  contracts
qualify as foreign  currency  cash flow hedges  under SFAS No. 133 and, as such,
require  that gains and losses on such  contracts be presented as a component of
comprehensive  income.  The  effective  date of SFAS No. 133 (which was deferred
through the  issuance of SFAS No. 137 and amended  through the  issuance of SFAS
No.  138) is the  Company's  calendar  year  commencing  January 1,  2001.  This
statement  is  not  expected  to  have  a  material   effect  on  the  Company's
consolidated operating results or financial position upon adoption.

In December 1999, the  Securities and Exchange  Commission  ("SEC") issued Staff
Accounting Bulletin No. 101, "Revenue Recognition in Financial Statements" ("SAB
No.  101").  SAB No.  101,  among  other  things,  provides  guidance on revenue
recognition  when customer  acceptance and  installation  provisions  exist. The
Company is required to adopt SAB No. 101, effective January 1, 2000, by December
31, 2000. The Company has not yet  quantified the cumulative  effect of adopting
SAB No.  101, as of January 1, 2000,  which  could be material to the  Company's
consolidated operating results or financial position.

Stock Split -

On March 20, 2000, the Company's Board of Directors  approved a 5-for-1 split of
the Company's common stock. All share and per share information  included in the
accompanying  condensed  consolidated financial statements and notes hereto have
been restated to reflect the effect of the split.

Reclassifications -

Certain reclassifications have been made to prior period information in order to
make it consistent with the current period presentation.


Note 2.  Inventories:
---------------------

Inventories  consisted of the following at September 30, 2000,  and December 31,
1999 (in thousands):

                                                September 30,       December 31,
                                                    2000                2000
                                                ------------        -----------
     Raw materials and parts                      $10,717             $12,094
     Work in process                                  796                 644
     Finished goods                                10,201               9,132
                                                  -------             -------
                                                   21,714              21,870
        Excess and obsolete reserves               (2,639)             (3,262)
                                                  -------             -------
                                                  $19,075             $18,608
                                                  =======             =======


Note 3.  Stockholders' Equity (Deficit):
----------------------------------------

<TABLE>
<CAPTION>

Below is a summary of the changes in selected components of stockholders' equity
(deficit)  for the  nine-month  period  ended  September  30,  2000  (dollars in
thousands):

                                               Common            Paid-In          Accumulated           Treasury
                                               Stock             Capital            Deficit               Stock
                                               ------            --------          ---------            ---------
<S>                                         <C>               <C>               <C>                  <C>
   Balance, December 31, 1999                  $ 137             $  1,827          ($12,895)            ($96,920)
   Net loss                                       --                   --            (4,479)                  --
   Sale of stock, net                             27              107,781            (3,205)              10,837
   Non-cash stock compensation
      charges                                     --                8,273                --                   --
   Restricted stock forfeitures                   --                  (46)               --                   --
                                               -----             --------           -------              -------
   Balance, September 30, 2000                 $ 164             $117,835          ($20,579)            ($86,083)
                                               =====             ========           =======              =======
</TABLE>

Sale of stock, net includes  proceeds from the exercise of stock options as well
as sales and  purchases  of  treasury  stock.  In  addition,  the  effect of the
Company's  initial  public  offering  (refer  to  the  following  paragraph)  is
reflected in these amounts.

On April 19, 2000, the Company completed the registration for public sale of the
Company's common stock (the "Offering").  The Offering raised approximately $110
million, including the over-allotment option, after consideration of expenses of
$12 million associated with the Offering.


Note 4.  Acquisitions:
----------------------

In March 2000,  the Company  acquired a 51% equity  interest in Carl  Consumable
Products, LLC ("CCP") for an initial cash payment of $510,000, with an option to
acquire the  remaining  49% equity  interest for (a) a cash payment of $490,000,
plus (b) earn-out  payments equal to 25% of the operating  profit (as defined in
the purchase  agreement) of CCP in excess of $530,000 which is generated in each
calendar year occurring during the four-year  period  following  exercise of the
option (unless the option is exercised prior to March 6, 2001, in which case the
applicable  earn-out percentage will be increased from 25% to 35%). CCP is a new
company  formed to design and  manufacture  sophisticated  pipettes  used in the
liquid dispensing process of drug discovery and genomic research.

In April 2000,  the Company  acquired  certain net operating  assets,  primarily
intangibles, of Cambridge Imaging Limited ("CIL"), effective March 31, 2000. The
Company paid $1.25 million initially with additional  contingent payments, up to
$4.0  million,  that may be made through April 2005,  subject to the  operations
achieving  certain  post-acquisition  performance  levels through  calendar year
2004. The assets and technology acquired will be used to develop and manufacture
biomedical imaging technology and devices.

The above  acquisitions  have been  accounted  for using the purchase  method of
accounting  and,  accordingly,  the purchase  prices have been  allocated to the
assets  purchased and the  liabilities  assumed  based upon the  estimated  fair
values at the dates of acquisition.  The excess of the purchase  prices,  in the
aggregate, over the fair values of the net assets acquired has been reflected as
goodwill in the accompanying condensed consolidated balance sheets. Net goodwill
totals approximately $20.4 million as of September 30, 2000. The goodwill amount
includes  contingent  payments  earned  through  September  30,  2000,  and will
increase to the extent future  contingent  payments are earned.  The goodwill is
being  amortized on a  straight-line  basis over 20 to 40 years from the initial
acquisition dates.

The pro  forma  impact  of the CCP and CIL  acquisitions  is  immaterial  to the
Company's  historical  actual results of operations.  Accordingly,  no pro forma
information is presented.


Note 5.  Earnings Per Share:
----------------------------

Basic  earnings  per share is computed  based upon the weighted  average  shares
outstanding during each of the periods presented.  Diluted earnings per share is
computed based upon the weighted average shares  outstanding  during each of the
periods presented, including the impact of outstanding options, determined under
the treasury  stock  method,  to the extent their  inclusion is dilutive.  Basic
weighted  average  shares  outstanding  during the three and nine  months  ended
September 30, 2000 and 1999 are as follows (in thousands):

<TABLE>
<CAPTION>
                                                           Three Months Ended                Nine Months Ended
                                                              September 30,                     September 30,
                                                          2000             1999             2000            1999
                                                         ------           ------           ------          ------
<S>                                                   <C>              <C>              <C>             <C>
    Basic weighted average shares outstanding            62,118           45,762           55,785          45,754
                                                         ======           ======           ======          ======
</TABLE>


For all periods presented in the accompanying condensed consolidated  statements
of income (loss),  common stock  equivalents were excluded from diluted weighted
average  shares  outstanding as their effect was  anti-dilutive  in light of the
loss from  continuing  operations.  The  dilutive  effect of  outstanding  stock
options  would have been 4,140 and 2,095 during the  three-month  periods  ended
September  30,  2000 and 1999,  respectively,  and 4,405  and 2,116  during  the
nine-month periods ended September 30, 2000 and 1999, respectively.

Basic and diluted  earnings (loss) per share for the three and nine months ended
September 30, 2000 and 1999, are as follows:

<TABLE>
<CAPTION>
                                                           Three Months Ended                 Nine Months Ended
                                                              September 30,                     September 30,
                                                          2000             1999             2000            1999
                                                         ------           ------           ------          ------
<S>                                                   <C>              <C>              <C>             <C>
       Loss from continuing operations before
          extraordinary items                            ($0.02)          ($0.08)          ($0.10)         ($0.09)

       Income from discontinued operations, net            0.03             0.06             0.02            0.15

       Extraordinary items, net                           (0.01)              --               --              --
                                                          -----            -----            -----           -----
       Net income (loss)                                  $0.00           ($0.02)          ($0.08)          $0.06
                                                          =====            =====            =====           =====
</TABLE>


Note 6.  Stock Compensation Charges:
------------------------------------

In December 1999, the Company  granted  certain  options to employees  which, in
accordance  with  financial  reporting  guidelines,   required  the  Company  to
recognize compensation expense over the vesting period of such options. On March
20, 2000,  the Company's  Board of Directors  approved the  acceleration  of the
vesting of all  outstanding  unvested  stock  options,  making them 100% vested,
effective  March 17,  2000.  This  resulted  in the  recognition  of a  non-cash
compensation  charge of $4.1  million  during the three  months  ended March 31,
2000, associated with the options granted in December 1999.

In March 2000,  certain  members of the  Company's  management  gifted shares of
their own Company common stock to substantially  all of the Company's  employees
who did not own shares or options to  purchase  shares of the  Company's  common
stock on the date of the  gifting.  This  resulted  in a  non-cash  compensation
charge of $0.6 million during the three months ended March 31, 2000.

Both of the  charges  discussed  above are  included  in  selling,  general  and
administrative expenses in the accompanying condensed consolidated statements of
income (loss).


Note 7.  Discontinued Operations:
---------------------------------

On October 25, 2000, the Company's Board of Directors  approved a formal plan to
dispose of the Canberra operating segment ("Canberra").  Potential acquirers and
bids are  currently  being  evaluated  by the  Company.  The Company  expects to
complete the sale by the end of the first quarter of 2001.

Amounts previously reported for Canberra have been reclassified and presented as
discontinued  operations in the accompanying  condensed  consolidated  financial
statements. Summary information of the discontinued operations is as follows (in
thousands):

<TABLE>
<CAPTION>
                                                            Three Months Ended                Nine Months Ended
                                                               September 30,                    September 30,
                                                           2000            1999             2000             1999
                                                         -------         -------          -------          -------
<S>                                                   <C>             <C>              <C>              <C>
    Net sales                                            $23,278         $27,146          $67,817          $72,838

    Total costs and expenses                             (20,758)        (24,299)         (66,227)         (64,554)

    (Provision for) benefit from income taxes               (938)            123             (636)          (1,629)
                                                         -------         -------          -------          -------
       Income from discontinued operations               $ 1,582         $ 2,970          $   954          $ 6,655
                                                         =======         =======          =======          =======
</TABLE>


For  purposes  of  presenting  operating  results  of the  Company's  continuing
operations,  all corporate interest expense and interest income has been charged
or credited to continuing operations. Corporate interest expense consists of all
interest  associated  with  the  subordinated  notes,  term  loan  facility  and
revolving credit facility. Corporate interest income represents income earned on
corporate  invested  funds.  None of this  interest  expense  or income has been
allocated to discontinued operations.  Discontinued operations includes interest
expense on local borrowings related to the applicable foreign subsidiaries.



<PAGE>


Results of discontinued operations for the nine-month period ended September 30,
2000,  include  charges  associated with  accelerated  option vesting and gifted
shares of Company's common stock (see Note 6) totaling $3.5 million, and results
of discontinued  operations for the nine-month  period ended September 30, 1999,
include a $1.0  million  charge  associated  with  writing  off the  step-up  in
inventory  acquired in connection with Canberra's April 1, 1999,  acquisition of
the net  operating  assets of  Tennelec,  Inc.  Net  assets of the  discontinued
operations consisted of the following (in thousands):


                                       September 30, 2000      December 31, 1999
                                       ------------------      -----------------
     Total current assets                   $46,024                 $51,543
     Total current liabilities               18,268                  20,161
                                            -------                 -------
        Net current assets                  $27,756                 $31,382
                                            =======                 =======

     Total noncurrent assets                $41,839                 $39,703
     Total noncurrent liabilities             3,435                   3,275
                                            -------                 -------
        Net noncurrent liabilities          $38,404                 $36,428
                                            =======                 =======


Note 8.  Extraordinary Items:
-----------------------------

In April 2000,  the Company  utilized  $68.2  million of the  proceeds  from the
Offering (see Note 3) to pay off its remaining term facility ($37.3 million) and
the U.S.  dollar  denominated  balance of its revolving  credit  facility ($30.9
million).  In May 2000, the Company  repurchased  approximately $22.5 million of
its senior  subordinated  notes in the open market at a discount;  and in August
2000, the Company amended and restated its revolving  credit  agreement.  Due to
the substantial  changes to the facility,  the amendment was accounted for as an
extinquishment.

The senior subordinated notes were repurchased at a discount resulting in a gain
of $2.3  million.  The Company  expensed the  remaining  unamortized  balance of
deferred  financing fees (totaling $2.4 million)  associated  with the term loan
and original  revolving credit agreement,  as well as that portion applicable to
the  senior  subordinated  notes  that were  repurchased.  The gain,  net of the
deferred fees  write-off,  is presented as  extraordinary  items,  net of income
taxes, in the accompanying financial statements.


Note 9.  Amended and Restated Credit Agreement:
-----------------------------------------------

In August 2000, the Company  amended and restated its revolving  credit facility
(the "Amended Agreement").  The Amended Agreement increased the amount available
under the facility  from $75 million to $100 million.  In addition,  some of the
financial  covenants  were  made less  restrictive  than  those of the  previous
facility.  The Amended Agreement  resulted in an extraordinary  charge (see Note
8).


Note 10.  Subsequent Events:
----------------------------

On October 2, 2000, the Company  acquired the net operating  assets of GSLI Life
Sciences  ("GSLI"),  a division  of GSI  Lumonics,  Inc.  The total  amount paid
consisted of $40 million in cash and 4.6 million  shares of Company common stock
valued at $66.2  million.  GSLI is a leading  provider of imaging  equipment for
biochip and microarray applications.

The GSLI  acquisition  will be  accounted  for using the  purchase  method.  The
acquisition  will result in a charge in October 2000  totaling  $12.1 million to
write off the value  assigned to acquired  in-process  research and  development
which had not yet reached technological  feasibility.  Goodwill of approximately
$90.5 million will be amortized over a 20-year period.

In October  2000,  the  Company  acquired  an 8% equity  interest  in  Agencourt
Bioscience  Corporation,  a biotech  company  focused on providing  nucleic acid
purification kits and other assays for the genomics and proteomics marketplaces.
The Company paid $1.25 million for this equity interest. Agencourt is controlled
by three sons of one of the Packard officers.


<PAGE>


       ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                            AND RESULTS OF OPERATIONS


The following  discussion and analysis  should be read in  conjunction  with our
condensed  consolidated  financial  statements and  accompanying  notes included
elsewhere in this Form 10-Q.

This report contains statements which, to the extent they are not recitations of
historical facts, constitute  "forward-looking"  statements.  Many factors could
cause actual results to differ  materially from these  estimates.  These factors
include, but are not limited to, the following:

-    intense competition in the markets we target;
-    our ability to  successfully  introduce  new  products and  platforms,  and
     expand the range of applications for our current products;
-    our  ability  to  effectively   protect  our  intellectual   property  from
     infringement;
-    potential infringement of intellectual property rights of others;
-    our customers  are  primarily  from the  pharmaceutical  and  biotechnology
     industries and are subject to risks faced by those industries;
-    decline  in  the  use  of  processes  and  instruments   that  represent  a
     significant portion of our revenues;
-    our ability to maintain  and enhance  existing  collaborative  and academic
     arrangements and to establish additional relationships;
-    our ability to pursue and consummate strategic acquisitions;
-    our dependence on capital spending policies of our customers;
-    economic, political and other risks associated with international sales and
     operations;
-    our ability to complete the sale of our Canberra  operation in a timely and
     orderly fashion;
-    our ability to attract and retain key employees; and
-    our ability to meet  financial  expectations  of  securities  analysts  and
     investors.


Overview
--------

Packard  BioScience Company ("Packard" or the "Company") and it subsidiaries are
leading  global  developers,  manufacturers  and  marketers of  instruments  and
related  consumables  and  services  for use in drug  discovery  and other  life
sciences  research.  The Company is a leader in  laboratory  automation  and has
developed  scalable   platforms  built  on  its  worldwide   leadership  in  the
manufacturing  and marketing of  bioanalytical  instruments  for use in the life
sciences research industry.

Packard's   revenues  are  derived  primarily  from  sales  of  instruments  and
consumables  with additional  sales from service.  The Company is moving towards
marketing  Packard's  instruments  as parts of integrated  platforms,  which the
Company  expects will generate  increasing  instrument and  consumable  sales at
higher gross margins than our service business.

The Company is in the process of  disposing of its  Canberra  operating  segment
which  supplies  analytical  instruments  and  services to detect,  identify and
quantify  radioactive  materials for the nuclear  industry and related  markets.
Refer to discussion on page 14. Unless  otherwise  indicated,  the amounts below
relate  to the  Company's  continuing  operations  and  exclude  the  effect  of
discontinued operations.



<PAGE>
<TABLE>
<CAPTION>



Results of Operations (dollars in millions)
---------------------

                                              Three Months Ended                         Nine Months Ended
                                                September 30,                              September 30,
                                                                  % Inc.                                    % Inc.
                                      2000          1999          (Dec.)         2000          1999          (Dec.)
                                     ------        ------        -------        ------        ------        -------
<S>                               <C>           <C>            <C>           <C>           <C>           <C>
Total net sales                      $ 37.0        $ 36.9          0.3%         $115.4        $112.4          2.7%
Gross profit                           20.2          17.9         12.8%           64.7          58.5         10.6%
Operating expenses:
   Research and development             6.7           5.7         17.5%           20.0          16.7         19.8%
   Selling, general and
      administrative                   11.9          10.0         19.0%           39.3          29.3         34.1%
                                     ------        ------        ------         ------        ------        ------
Income from continuing
   operations                           1.6           2.2        (27.3%)           5.4          12.5        (56.8%)
Interest expense, net                  (3.4)         (5.3)       (35.8%)         (13.7)        (15.7)       (12.7%)
Foreign exchange transaction
   gains (losses), net                 (0.1)          0.1           N/A            0.0          (0.1)          N/A
                                     ------        ------        ------         ------        ------        ------
Loss from continuing
   operations before income
   taxes and extraordinary
   items                               (1.9)         (3.0)          N/A           (8.3)         (3.3)          N/A
(Provision for) benefit from
   income taxes                         0.7          (0.8)          N/A            2.9          (0.8)          N/A
                                     ------        ------        ------         ------        ------        ------
Loss from continuing
   operations before
   extraordinary items                 (1.2)         (3.8)       (60.5%)          (5.4)         (4.1)        31.7%
Discontinued operations, net            1.5           3.0        (50.0%)           0.9           6.6        (86.4%)
Extraordinary items, nets              (0.6)           --           N/A            0.0            --           N/A
                                     ------        ------        ------         ------        ------        ------
Net income (loss)                    $ (0.3)       $ (0.8)          N/A         $ (4.5)       $  2.5           N/A
                                     ======        ======        ======         ======        ======        ======
</TABLE>


Initial Public Offering
-----------------------

On April 19, 2000,  the Company  completed  the  registration  of the  Company's
common stock for public sale (the "Offering"). The Offering raised approximately
$110 million,  after  consideration of the expenses associated with the Offering
and the  exercise of the  underwriters'  over-allotment  option.  The  following
management's  discussion and analysis of the Company's results of operations and
financial  condition  includes a historical  discussion  covering the  reporting
periods included within this Form 10-Q as well as a discussion of the use of the
proceeds of the Offering and how this is expected to effect the Company's future
operating results and financial condition.

Revenues
--------

Consolidated net sales were relatively flat ($37.0 million versus $36.9 million)
and  increased  2.7% ($115.4  million  versus $112.4  million)  during the three
months and nine months ended  September 30, 2000,  respectively,  as compared to
the prior year  periods.  Major  factors  causing the  fluctuations  between the
periods were:

a)       the nine month period of 1999  includes  approximately  $3.9 million of
         revenues associated with certain Packard product lines that were either
         sold or  terminated  in 1999  and,  therefore,  did not  contribute  to
         revenues in the 2000 period; and
b)       foreign currency exchange rate  fluctuations had an unfavorable  effect
         on 2000  consolidated  revenues.  Had exchange  rates remained the same
         during the three and nine months ended  September  30, 2000,  as in the
         comparable  1999 periods,  consolidated  net sales would have been $1.4
         million and $3.0 million higher, respectively.

Excluding the above-mentioned items, consolidated net sales during the three and
nine months  ended  September  30,  2000,  would have  increased  4.2% and 9.2%,
respectively,  over the comparable 1999 periods.  Packard has experienced strong
instrumentation sales growth in some of its major product lines including sample
preparation  and  automation  where  revenues have  increased from $24.4 million
during the nine months ended  September 30, 1999,  to $33.0  million  during the
nine months ended September 30, 2000, representing a 35.1% increase. This growth
has been substantially  offset by a decline in revenues related to the Company's
radioactive-based or legacy products.

A portion of the Offering proceeds is being used to increase  Packard's spending
associated with research and development,  new product development,  enhancement
of existing products and strategic collaborations and acquisitions.  The Company
has  identified  several  key  areas of focus  where  it has  begun to  increase
spending in order to accelerate new product development and market introduction.
Assuming  that  Packard  is  successful  in these  areas,  it is  expected  that
incremental  revenues  from  instruments  and  consumables  will  be  generated,
however,  there can be no guarantee  that such success and  resulting  increased
revenues will be achieved.

Gross Profit
------------

Consolidated  gross profit was $20.2 million and $64.7 million  during the three
and nine  months  ended  September  30,  2000,  respectively,  compared to $17.9
million and $58.5 million  during the  comparable  1999  periods.  Excluding the
effect of the sold and  terminated  product  lines,  the Company's  consolidated
gross profit increased 12.7% during the 2000 year-to-date  period as compared to
the 1999 period. As a percentage of revenues, the year-to-date 2000 gross profit
was 56.0%  versus  52.9% in the 1999  period,  excluding  the effect of the item
mentioned above. The improvement was primarily  attributable to increased,  high
margin sales by Packard Japan KK ("PJKK") and a higher mix of CCS Packard,  Inc.
("CCS") product sales.  Service margins increased during the current year period
also,  increasing from 22.1% during the 1999 year-to-date period to 24.6% in the
2000 period.

Operating Expenses
------------------

Research and Development -

Consolidated  research  and  development  expenses  were $6.7  million and $20.0
million during the three and nine months ended September 30, 2000, respectively,
as  compared  to $5.7  million  and $16.7  million  during the  comparable  1999
periods. These represent 17.5% and 19.8% increases over the prior year three and
nine month  periods,  respectively.  The  majority of research  and  development
spending, as well as the current year increase,  was in the areas of new product
development and enhancement.  The Company is utilizing a portion of the Offering
proceeds to increase funding of Packard's  research and development  programs in
order to accelerate the development and market  introduction of key products and
platforms.  The increased  spending  during the 2000 periods was a reflection of
this strategic initiative in the area of research and development.

Selling, General and Administrative -

Consolidated selling,  general and administrative expenses totaled $11.9 million
and $39.3 million for the three and nine month periods ended September 30, 2000,
respectively. This compares to $10.0 million and $29.3 million for the three and
nine months  ended  September  30, 1999,  respectively.  The  year-to-date  2000
increase  over the  comparable  1999 period  (33.7%) was primarily due to a $4.1
million  compensation  charge  recorded in the first quarter of 2000  associated
with certain stock  options  granted to employees in December  1999,  and a $0.6
million compensation charge associated with stock that Company senior management
gifted to certain  employees  in March  2000.  Both of these  charges  represent
non-cash,  non-recurring  charges to the Company.  Excluding these non-recurring
charges, selling, general and administrative expenses increased 17.7% during the
nine  months  ended  September  30,  2000,  versus the  prior-year  period,  due
primarily to additional  corporate expenses incurred as a result of the Offering
as well as  higher  goodwill  amortization  expense  resulting  from  contingent
earnout payments made in the first quarter of 2000. In addition, the increase is
a result of additional  spending for applications  specialists and strengthening
of the sales and marketing  organization.  Continuing operations for all periods
presented  includes  the costs  Packard  will incur as a result of  Canberra  no
longer absorbing certain corporate overhead costs.

Interest Expense, Net
---------------------

Interest  expense,  net was $3.4 million and $13.7 million  during the three and
nine months ended September 30, 2000, respectively, compared to $5.3 million and
$15.7  million  during the  comparable  1999  periods.  The  decreased  interest
expense,  net was attributable to lower average  borrowings  outstanding  during
each of the 2000 periods,  as compared to the 1999  periods,  as a result of the
Company's  repayment of the term loan  facility  balance  ($37.3  million) and a
portion of the revolving  credit  facility ($30.9 million) in April 2000 and the
repurchase  of $22.5  million  of  senior  subordinated  notes in May  2000.  In
addition, the Company had a higher average invested cash balance during the 2000
periods,  generating a higher level of interest income.  The debt repayments and
invested cash balances were a direct result of the Offering.  The above factors,
which  resulted in reducing  interest  expense,  net, were  partially  offset by
higher average interest rates  (approximately 100 to 150 basis points higher) on
the Company's variable rate indebtedness during the 2000 periods.

For  purposes  of  presenting  operating  results  of the  Company's  continuing
operations,  all corporate interest expense and interest income has been charged
or credited to continuing operations. Corporate interest expense consists of all
interest  associated  with  the  subordinated  notes,  term  loan  facility  and
revolving credit facility. Corporate interest income represents income earned on
corporate  invested  funds.  None of this  interest  expense  or income has been
allocated to discontinued operations.

Foreign Currency Transaction Gains (Losses), Net
------------------------------------------------

During the nine months ended September 30, 2000,  foreign  currency  transaction
losses, net was $0.1 million.  Such gains and losses are primarily the result of
transactions   conducted  by  the  Company's   foreign   subsidiaries  that  are
denominated in currencies  other than the  subsidiaries'  respective  functional
currencies.

Effective Tax Rates
-------------------

The  Company's  effective  tax rate was  35.0%  during  the  nine  months  ended
September  30, 2000,  compared to 25.5%  (representing  a provision on a pre-tax
loss)  during the  comparable  1999 period.  Both periods  reflect the effect of
nondeductible  goodwill.  The 1999  effective tax rate reflects the provision of
additional  valuation  reserves on foreign tax credit  carryforwards in light of
the uncertainty as to their ultimate realizability.

Discontinued Operations, Net of Income Taxes
--------------------------------------------

On October 25, 2000, the Company's Board of Directors  approved a formal plan to
dispose  of the  Canberra  operating  segment  ("Canberra")  by  way of a  sale.
Potential  acquirers and bids are currently being evaluated by the Company.  The
Company expects to complete the sale by the end of the first quarter of 2001.

Amounts previously reported for Canberra have been reclassified and presented as
discontinued  operations in the accompanying  condensed  consolidated  financial
statements. Summary information of the discontinued operations is as follows:


<TABLE>
<CAPTION>
                                                            Three Months Ended                Nine Months Ended
                                                               September 30,                    September 30,
                                                           2000            1999             2000             1999
                                                         -------         -------          -------          -------
<S>                                                   <C>             <C>              <C>              <C>
    Net Sales                                            $23,278         $27,146          $67,817          $72,838

    Total costs and expenses                              20,758          24,299           66,227           64,554

    (Provision for) benefit from income taxes               (938)            123             (636)          (1,629)
                                                         -------         -------          -------          -------
       Income from discontinued operations               $ 1,582         $ 2,970          $   954          $ 6,655
                                                         =======         =======          =======          =======
</TABLE>


<PAGE>


Discontinued  operations  for the  nine-month  period ended  September 30, 2000,
include charges  associated with accelerated option vesting and gifted shares of
Company's  common stock (see Note 6 to the accompanying  condensed  consolidated
financial  statements)  totaling  $3.5  million.  The  nine-month  period  ended
September 30, 1999, included a $1.0 million charge associated with the write-off
of the step-up in inventory  acquired in connection  with the Company's April 1,
1999, acquisition of the net operating assets of Tennelec, Inc.

Extraordinary Items, Net of Income Taxes
----------------------------------------

During  2000,  the  Company  repaid  the  outstanding  balance  on its term loan
facility  ($37.3  million)  and a  portion  of  its  revolving  credit  facility
indebtedness ($30.9 million). In addition, the Company repurchased $22.5 million
of senior  subordinated  notes,  at a  discount  from par,  during  May 2000 and
amended and restated its revolving  credit  facility in August 2000.  The senior
subordinated  notes repurchase  resulted in a pre-tax gain of approximately $2.3
million.  This gain was offset by the writeoff of unamortized deferred financing
costs  associated  with the  repayment  of the term loan and the  portion of the
senior  subordinated  notes that were  repurchased  and the  original  revolving
credit  facility.  The gain,  net of the deferred  financing  fees  writeoff and
income  taxes,  is reflected as  extraordinary  items,  net in the  accompanying
condensed consolidated financial statements.

Net Income (Loss)
-----------------

The Company  incurred a net loss of $4.5  million  during the nine months  ended
September  30, 2000,  compared to net income of $2.5  million in the  comparable
1999 period. The 2000 period loss was attributable primarily to the nonrecurring
compensation  charges  discussed above and the fact that all corporate  interest
expense is allocated to continuing operations, as discussed above.

Liquidity and Financial Resources
---------------------------------

The  Company's  liquidity  requirements  arise  from cash  used for  operations,
including  research  and  development  expenditures,   payments  on  outstanding
indebtedness and funding of acquisitions and other collaborations. The Company's
2000 and 1999 cash  requirements  have been met primarily through cash generated
from operations and borrowings  through the Company's  revolving credit facility
and  overseas  bank  facilities.  In  addition,  the 2000  period  reflects  the
Company's receipt of net proceeds totaling  approximately  $110 million from the
Offering.  Approximately  $90.7  million of such  proceeds was used to repay the
Company's  outstanding  term loan  indebtedness  and a portion of the  revolving
credit  facility  balance as well as to repurchase a portion of the  outstanding
senior  subordinated  notes.  The remaining  cash is available for the Company's
general corporate requirements.

Approximately half of the Company's revenues are generated from foreign sources,
most of which are denominated in currencies other than the U.S. dollar. As such,
the Company's  reported earnings and financial  position are affected by changes
in foreign  currency  exchange  rates. A  strengthening  U.S. dollar against the
currencies  through  which the Company  conducts  its  business has had, and may
continue  to have,  a  negative  impact  on U.S.  dollar  denominated  operating
results.  To manage the exposure of foreign currency exchange rates, the Company
employs hedging  strategies.  The Company  purchases  various  foreign  currency
forward contracts, at specified levels of coverage, generally for the purpose of
hedging firm intercompany inventory purchase commitments.

Net cash used by continuing  operating  activities  was $7.7 million  during the
first nine months of 2000 as  compared  to $3.6  million of net cash used during
the comparable  1999 period.  The increase in cash used by operating  activities
between the periods  presented is primarily the result of a greater reduction in
trade accounts payable and accruals during the current year period.

Net cash used for  continuing  investing  purposes  during the nine months ended
September  30,  2000,  consisted  primarily  of  amounts  paid to  acquire a 51%
interest  in Carl  Consumable  Products,  LLC ($0.5  million)  and  certain  net
operating  assets of Cambridge  Imaging Limited ($1.5  million),  as well as the
payment of contingent  earnouts  earned for the period ended  December 31, 1999,
associated  with the CCS  acquisition  (totaling  $5.0  million).  In  addition,
approximately  $4.6 million was expended on capital  equipment and improvements.
During the nine months ended September 30, 1999,  investing activities consisted
primarily  of  payment  of  earnouts  associated  with the CCS  acquisition.  In
addition, during this period, capital expenditures totaled $4.4 million.

The Company expects to generate a significant  amount of cash in connection with
the sale of the  Canberra  operating  segment.  The Company is  considering  its
options  as to the use of the  expected  proceeds.  The  Company  will repay the
amounts  outstanding  under its amended and restated credit agreement or will be
restricted as to the use of the that same level of funds.

Financing activities during the first nine months of 2000 consisted primarily of
receipt of the net proceeds from the Offering and a use of a substantial portion
of such proceeds, combined with available invested cash, to paydown $101 million
of  indebtedness.  Additional  borrowings  under the Company's  revolving credit
facility  were  used to fund the  payment  of the  contingent  earnout  payments
referred to above and the March 2000 semi-annual interest payment ($7.0 million)
associated with the Company's  outstanding  subordinated  notes.  The borrowings
were also  utilized to fund  operating  requirements,  as needed.  In  addition,
proceeds  from the exercise of stock  options  totaled  $5.0 million  during the
first nine months of 2000.  During the comparable  prior year period,  financing
activities consisted primarily of borrowings under the revolving credit facility
to fund contingent  earnout  payments  associated with the CCS  acquisition.  In
addition,  borrowings  during this period were utilized to make the  semi-annual
subordinated  notes  interest  payment and to fund  operating  requirements,  as
needed.

The Amended and  Restated  Credit  Agreement  (the  "Agreement")  increases  the
Company's revolver from $75 million to $100 million.  The Agreement provides for
a reduction  in the  revolver  in the event of a sale of  Canberra  based upon a
stipulated formula.

Backlog
-------

As of September 30, 2000 and 1999, the Company's net  third-party  order backlog
was  approximately  $29.9 million and $22.2 million,  respectively.  The Company
includes in backlog only those orders for which it has received  purchase orders
and does not include in backlog orders for service.  The Company's backlog as of
any particular date may not be representative of actual sales for any succeeding
period.

New Accounting Standards
------------------------

In June 1998,  the  Financial  Accounting  Standards  Board issued  Statement of
Financial  Accounting Standard No. 133,  "Accounting for Derivative  Instruments
and Hedging  Activities"  ("SFAS No. 133"), which establishes the accounting and
reporting standards for derivative  instruments and for hedging activities.  The
Company purchases forward contracts to cover foreign exchange  fluctuation risks
on  intercompany  sales to certain of its  foreign  operations.  Such  contracts
qualify as foreign  currency  cash flow hedges  under SFAS No. 133 and, as such,
require  that gains and losses on such  contracts be presented as a component of
comprehensive  income.  The  effective  date of SFAS No. 133 (which was deferred
through the  issuance of SFAS No. 137 and amended  through the  issuance of SFAS
No.  138) is the  Company's  calendar  year  commencing  January 1,  2001.  This
statement  is  not  expected  to  have  a  material   effect  on  the  Company's
consolidated operating results or financial position upon adoption.

In December 1999,  the SEC issued Staff  Accounting  Bulletin No. 101,  "Revenue
Recognition in Financial  Statements"  ("SAB No. 101"). SAB No. 101, among other
things,  provides guidance on revenue  recognition when customer  acceptance and
installation  provisions  exist.  The  Company is required to adopt SAB No. 101,
effective  January 1, 2000,  by  December  31,  2000.  The  Company  has not yet
quantified the cumulative effect of adopting SAB No. 101, as of January 1, 2000,
which could be  material  to the  Company's  consolidated  operating  results or
financial position.

Subsequent Events
-----------------

Effective October 1, 2000, the Company acquired the net operating assets of GSLI
Life Sciences ("GSLI"),  a division of GSI Lumonics,  Inc. The total amount paid
consisted of $40 million in cash and 4.6 million shares of Company common stock.
GSLI is a leading  provider of imaging  equipment  for  biochip  and  microarray
applications.

The GSLI  acquisition  will be  accounted  for using the  purchase  method.  The
acquisition  will  result in a charge in October  2000  totaling  $12.1  million
(before  the  related  income tax  benefit)  to write off the value  assigned to
acquired   in-process  research  and  development  which  had  not  yet  reached
technological feasibility.

In October 2000, the Company acquired an 8% equity stake in Agencourt Bioscience
Corporation,  a biotech company focused on providing  nucleic acid  purification
kits and other assays for the genomics and proteomics marketplaces.  The Company
paid $1.25  million for this equity  stake.  The Company paid $1.25  million for
this  equity  interest.  Agencourt  is  controlled  by three  sons of one of the
Packard officers.



<PAGE>


       ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

There  has been no  significant  change in this  area  since  the  filing of the
Company's 1999 Form 10-K.



<PAGE>


                           PART II. OTHER INFORMATION

                           PACKARD BIOSCIENCE COMPANY


Item 1.  Legal Proceedings

There  has been no  significant  change in this  area  since  the  filing of the
Company's Form 10-Q for the quarter ended June 30, 2000.


Item 6.  Exhibits and Reports on Form 8-K

         (a)  Exhibits:

              Exhibit No.          Description
              -----------          -----------
                  27               Financial data schedule pursuant to Article 5
                                   of Regulation S-X

         (b)  Reports on Form 8-K:

              A report on Form 8-K dated  October  13, 2000 was filed on October
              13, 2000.

              A report  on Form  8-K/A  dated  October  13,  2000  was  filed on
              November 13, 2000.




<PAGE>



                                   SIGNATURES

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned  thereunto  duly  authorized,  in the  City  of  Meriden,  State  of
Connecticut, on November 14, 2000.

                                            PACKARD BIOSCIENCE COMPANY


                                            By:              /s/ Emery G. Olcott
                                            ------------------------------------
                                                                 Emery G. Olcott
                                                       Chairman of the Board and
                                                         Chief Executive Officer


                                            By:                /s/ Ben D. Kaplan
                                            ------------------------------------
                                                                   Ben D. Kaplan
                                                              Vice President and
                                                         Chief Financial Officer


                                            By:                /s/ David M. Dean
                                            ------------------------------------
                                                                   David M. Dean
                                                            Corporate Controller




<PAGE>