Profits fell at Fullerton-based Beckman Coulter Inc. in the third quarter, but the company’s shares jumped after the medical device maker raised its outlook on Wednesday.
The Fullerton maker of medical testing gear and supplies earned $36.2 million in the third quarter, down 37% from a year earlier but higher than expectations.
Excluding charges relating to Hurricane Katrina and discontinued products, Beckman posted a $70.1 million profit in the quarter.
Beckman said revenue rose 2% to $593.4 million in the period. Analysts expected Beckman to earn $35.3 million on sales of $577.4 million in the quarter.
The company said its results were affected by a recent policy that lets its customers lease its medical testing systems rather than buy them.
Separately, Beckman said it got a new deal to supply chemistry, immunodiagnostic and automated tests with Consorta, a Schaumburg, Ill.-based buying group for hospitals.
The Consorta pact could be worth up to $105 million during the next five years. Consorta also extended its blood testing agreement with Beckman for the next five years.
Beckman said it expects to earn $40.9 million to $47.1 million in the fourth quarter. Sales are seen at $657 million to $672 million.
Shares of Beckman were up 6.6% in trading Wednesday.
