Beckman Coulter Inc., a Brea-based medical testing company, saw its shares rise 8% Thursday despite lowering its financial outlook for 2010 a day earlier.
Analysts and investors largely appeared to view Beckman’s problems with a profitable heart test, which partially led to the lower forecast, as temporary.
Beckman, which had a market value of $4.4 billion, also said it planned to pay about $13 million in dividends to shareholders later this month.
The company’s shares jumped a day after it reported first-quarter results that beat Wall Street’s expectations but lowered its full-year forecast after a March recall of a test to diagnose heart disease.
Beckman, a maker of instruments and chemicals used by medical laboratories and researchers, reported an adjusted profit of $61.8 million, up 35% from a year earlier and above analysts’ expectations of $60.8 million.
Excluding costs and items, Beckman earned $38.7 million.
First-quarter revenue came in at $881 million, up 27% and ahead of Wall Street’s expectation of $876.1 million.
The revenue number included $115.7 million from Beckman’s $800 million deal last year for Olympus Corp.’s medical diagnostic unit.
As for 2010, Beckman now expects its adjusted full-year profit to come in at $307 million to $321 million, down from a previous forecast of $314 million to $324 million. Wall Street is looking for Beckman to earn $312 million this year.
Full-year sales are now seen as coming in at $3.75 billion to $3.85 billion, down from the $3.8 billion to $3.9 billion forecast earlier. Analysts expect Beckman’s full-year sales to come in at $3.78 billion.
