Beckman Coulter Inc., a Fullerton-based maker of medical testing equipment and supplies, reported a higher third-quarter profit boosted by an investment sale that overcame a legal settlement charge.
The company reported a quarterly profit of $47 million, up 31% from a year earlier. In the third quarter, Beckman sold a $50 million stake in Beverly, Mass.-based Agencourt Personal Genomics Inc.
Beckman owned about 49% of Agencourt, which was bought by Foster City-based Applera Corp.’s Applied Biosystems Group.
The gain helped offset $27.5 million in licensing fees in the quarter as part of a patent settlement with Roche Diagnostics.
Excluding charges and gains, Beckman earned $42 million, in line with Wall Street’s expectations.
Sales rose 6% from a year earlier to $631.2 million, above analysts’ expectations of $622 million.
The company’s UniCel DxC 600 and 800, which automate the running of tests for doctors at medical labs, drove sales, Chief Executive Scott Garrett said.
Sales of chemicals for the machines also were up, Garrett said.
Beckman reaffirmed its outlook for the current quarter and rest of the year. The company said it expects sales to grow 7% to 9% for the quarter and in 2007.
2006 profit could come in at about $188 million, the company said.
