Fullerton-based Beckman Coulter Inc. said sales and profit fell in the fourth quarter as the company’s shift to leasing of its medical devices took hold, the company said Friday.
Beckman said its profit fell 70% to $17.8 million on a 5% dip in sales to $656 million.
Without one-time charges, Beckman’s profit was $45.4 million, slightly higher than Wall Street expecations. Sales were about 2% lower than expected.
Beckman said many of its customers have shifted from buying to leasing the company’s lab instruments. Revenue under the leasing program will be realized over a longer period than under a sales program.
Restructuring charges, including severance, as part of its plan to integrate its clinical diagnostics and biomedical research divisions into one segment, also impacted the quarterly results, Beckman said.
Beckman said it expects to post a profit of $167.8 million to $180.2 million on sales of $2.5 billion in 2006.
Shares of Beckman were off 5% in midday trading.
