Orange County Business Journal
Orange County Business Journal
Search last 90 days
ARCHIVES SEARCH
SIGN IN
WEB CONNECT
Orange County Business Journal News
Orange County Business Journal
 


Visit our Facebook page
INDUSTRY-SPECIFIC NEWS STORIES:
OCBJ Poll
When should the Federal Reserve raise rates?
Orange County Business Journal news
  Second quarter
  Midyear
  Late 2010
  2011
  Too soon to tell
Orange County Business Journal news
View Results
 
 

Beckman Coulter Beats Expectations, Raises Outlook

Orange County Business Journal Staff

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.


  Feb. 8-14, 2010
OCBJ News
NEWS OF THE WEEK
This past week’s news from www.ocbj.com and other sources
Spectrum Ends Work on Drug, Gets Payments on Other
Spectrum Pharmaceuticals last month dropped work on a drug as another one brought in some dividends, in the Healthcare column
Browse the complete Table of Contents - stories, charts, and editorial - for the current edition of the Journal

Watch this week's Cable Business Journal Videocast
Listen to this week's OC Insider summary Podcast
Printer-friendly version E-mail to an associate Search Home


   



 
All contents of this site © 2010  Orange County Business Journal Associates. All rights reserved.
Orange County Business Journal, Irvine, CA 92612, USA. | Powered by FLEX360