Beckman Coulter Inc. on Thursday reported third-quarter results that beat analysts’ expectations and upped its guidance for the current quarter.The maker of medical testing instruments and supplies, which is moving from Fullerton to Brea, posted a profit before charges of $59 million, compared to analysts’ average expectation of $58.3 million.
After charges, including ones relating to Beckman's recent $800 million buy of Olympus Corp.’s lab-based diagnostic business, third-quarter earnings fell 93% from a year earlier to $1.5 million.
Revenue rose 8% to $822.8 million, beating Wall Street’s projection of $819.1 million.
Beckman said its revenue figure included $65.1 million from the Olympus buy.
Revenue from sales of reagents and other supplies grew 14% to $676.1 million, including Olympus. Cash medical instrument sales fell 11% to $146.7 million.
Recurring revenue from chemicals used to run tests on Beckman machines makes up about 80% of the company's total.
Beckman also upped its outlook for the rest of the year. The company said it now expects a full-year profit of $267.1 million to $274 million, compared to previous guidance of $238.2 million to $247.7 million.
Analysts expect Beckman to make $271.2 million in 2009.
Beckman reiterated that it expects its full-year revenue to be essentially flat at $3.2 billion, slightly below Wall Street’s estimate of $3.22 billion.