Beckman Coulter Inc. on Tuesday affirmed its 2009 outlook after reporting mixed first-quarter results.
Investors responded, sending Beckman’s shares up about 2% in afterhours trading with a market value of $3.3 billion.
Beckman, a Fullerton-based maker of medical testing instruments and supplies, said it expects to make $237.9 million to $250.7 million in 2009, versus Wall Street’s estimate of $250.1 million.
The company said it expects its 2009 sales to be essentially flat at $3.2 billion, slightly above Wall Street’s revenue forecast of $3.1 billion.
As for the first quarter, Beckman said its profit, including gains related to restructuring and its pending buy of Olympus Corp.’s diagnostic business, was up 11% to $45.5 million.
Analysts expected Beckman to make $37.8 million in the first quarter.
Without the gains, Beckman’s profit was $20.6 million.
Beckman’s first-quarter revenue fell 5% to $691.5 million, below analysts’ expectations of $705.6 million.
Beckman said that a 4.7% increase in recurring revenue, which makes up 80% of the total, was offset by declines in cash instrument sales in its life science and cellular analysis businesses.
