Fullerton-based Beckman Coulter Inc.’s shares were up Tuesday morning after the company reiterated its 2008 outlook and forecast a 10% profit hike in 2009.
Beckman shares were up about 10% with a market value of $2.6 billion in midday New York Stock Exchange trading. Shares were flat in afterhours trading.
The maker of medical testing gear and supplies said late Monday that it expected to make $222.5 million to $228.7 million on a 12% revenue hike in 2008. Based on Beckman’s $2.76 billion in revenue in 2007, that means the company anticipates 2008 revenue of $3.09 billion.
Analyst estimates expect Beckman to make $224.3 million on $3.11 billion in 2008.
As for 2009, Beckman said it expected its profit to grow 10% on cost controls and a shift toward higher-margin products.
Beckman said in a statement that it expects its stable installed medical instrument base to yield solid growth from supplies sold. Beckman gets recurring revenue from supplies sold to customers who use its testing instruments.
Wall Street expects Beckman to make $246.3 million on $3.93 billion in revenue in 2009.
