Total : 14 View more »
Affymetrix and Beckman Coulter have entered into an agreement to offer researchers, co-developed products in microarrays and automated liquid handlers.
http://www.pharmaasia.com/article-7975-affymetrixandbeckmancoulterteamup-asia.html
ORANGE COUNTY, Calif., Oct. 26 /PRNewswire-FirstCall/ -- Beckman Coulter, Inc. (NYSE: BEC), a leading developer, manufacturer, and marketer of products that simplify, automate, and innovate complex biomedical testing, announced today that the company will present at the following conferences:
Enables breakthrough in human stem cell manipulation for research and for the development of stem cells as therapeutics
"Through the creation of Beckman Coulter Genomics, we have successfully brought together the industry's leading genomic service providers to offer our customers the highest-quality data and analysis," said Richard Creager, Ph.D.
http://www.biospace.com/news_story.aspx?StoryID=152973&full=1
Total : 45 View more »
Oct 30, 2009 (SmarTrend(R) Spotlight via COMTEX) --
SmarTrend, our proprietary pattern recognition system, called a Downtrend for Beckman Coulter (NYSE:BEC) on October 02, 2009 at $66.68.
Since then, Beckman Coulter has returned 3% as of today's recent price of $64.65. Want to profit from these alerts?
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Companies: Beckman Coulter, Inc. (BEC)
ORANGE COUNTY, Calif., Oct 29, 2009 /PRNewswire-FirstCall via COMTEX/ --
Beckman Coulter, Inc. (NYSE: BEC), a leading developer, manufacturer and marketer of products that simplify, automate and innovate complex biomedical testing, announced today third quarter and nine months ended September 30, 2009 results. Reported third quarter revenue, including $65.1 million from the recent ODS acquisition, was $822.8 million, up 8.4% over prior year quarter, or 11.6% in constant currency. On a constant currency basis, recurring revenue increased 17.3% and cash instrument sales declined 9.4%. Reported net earnings were $1.5 million, or $0.02 per fully diluted share. Adjusting for special items, related primarily to restructuring charges and acquisition costs, net earnings were $59.2 million, or $0.85 per fully diluted share, an increase of 13.3% over prior year quarter. (See "Non-GAAP Financial Measures" and "Reconciling Items to Non-GAAP Financial Measures.")
(Logo: http://www.newscom.com/cgi-bin/prnh/20031202/BECLOGO)
Three Months Ended Nine Months Ended
September 30 September 30
------------ ------------
2009 2008 Chg% 2009 2008 Chg%
---- ---- ---- ---- ---- ----
Reported Results
----------------
(in millions, except
per share)
Revenue $822.8 $758.8 8.4% $2,271.0 $2,287.6 (0.7%)
Recurring
Revenue $676.1 $594.6 13.7% $1,878.8 $1,792.6 4.8%
Operating
Income $4.4 $38.2 (88.5%) $119.9 $171.8 (30.2%)
Diluted
Earnings
per
Share(1) $0.02 $0.37 (94.6%) $1.26 $1.72 (26.7%)
Adjusted Results (revenue growth in constant currency)
Revenue(2) 11.6% 3.8%
ODS
impact 8.8% 2.9%
Recurring
Revenue(2) 17.3% 10.0%
ODS
impact 9.6% 3.2%
Operating
Income(2) $103.7 $76.7 35.2% $267.2 $228.7 16.8%
ODS
impact $2.0 3.1% $2.0 1.0%
Diluted
Earnings
per Share
(1),(2) $0.85 $0.75 13.3% $2.55 $2.26 12.8%
ODS
dilution $0.10 $0.10
See "Non-GAAP Financial Measures," where the impact of certain items on
reported results are discussed.
1. Earnings, in both 2008 and 2009, include the incremental interest
expense associated with the change in accounting for convertible debt
instruments. The effect is a $0.03 and $0.10 non-cash charge to
interest expense for the third quarter and nine months ended
September 30, 2009, respectively, and a $0.04 and $0.09 non-cash
charge to interest expense for the third quarter and nine months
ended September 30, 2008, respectively.
2. Consolidated adjusted results including ODS acquisition.
Scott Garrett, Chairman, President and Chief Executive Officer, said, "In the quarter, we completed the Olympus transaction extending our leadership position in the Chemistry and Clinical Automation product area. Recurring revenue accounted for 82% of total revenue in the quarter and grew 7.7% on a constant currency basis, excluding the Olympus acquisition. Olympus added 9.6% of incremental growth to recurring revenue. Clinical Diagnostics experienced strong growth in recurring revenue especially in Access Immunoassay, which again grew more than 10%. Recurring revenue growth attests to the ongoing strength of our business model even in a difficult economic environment."
A decline in cash instrument sales partially offset strong recurring revenue growth. Chemistry and Clinical Automation cash instrument sales were 7.3% higher due to $8.5 million of revenue from ODS. All other product areas experienced declines in cash instrument sales due to weakness in all major markets except China. A weak capital expenditure environment and difficult prior year comparisons contributed to these results.
In the quarter, Clinical Diagnostics revenues increased 4.7% in constant currency, excluding ODS. Life Science revenue declined 9%, or 6.8% in constant currency.
On a geographic basis, third quarter revenue in the U.S. increased 6.8%, with the ODS acquisition contributing 5.6%. In constant currency, international revenue grew 16.2%; ODS contributed 11.5% to this growth. International growth was driven by continued strength in Asia Pacific, in Europe as a result of the ODS acquisition and by substantial gains in Immunoassay.
Growth in higher margin recurring revenue more than offset the unfavorable effect of currency and an increase in pension expense. As a result, third quarter adjusted gross profit margin increased 120 basis points to 47.2% versus prior year results.
Third quarter operating income was $4.4 million. On an adjusted basis, operating income for the quarter was $103.7 million, 12.6% of revenue, or 13.5% excluding the ODS acquisition.
Non-operating expense of $4.9 million includes a net gain realized in the period related to the Yen hedge for the ODS acquisition. Adjusted non-operating expense includes incremental interest expense incurred on the debt offering associated with the ODS acquisition. Non-operating expense, excluding the ODS related currency gain, was $20.5 million compared to $12.3 million in the prior year quarter due to higher interest expense. The adjusted tax rate in the quarter was 28.8% compared to 25.5% in the prior year quarter that benefited from discrete items.
Net earnings were $1.5 million, or $0.02 per fully diluted share. Excluding restructuring andacquisition-related costs and other items described in accompanying tables, adjusted net earnings were $59.2 million or $0.85 per fully diluted share, including dilution of $0.10 for the ODS acquisition. The ODS dilution includes $0.04 for intangibles amortization.
Garrett continued, "In the quarter, we had strong recurring revenue growth that drove a favorable product mix, we continued to manage expenses carefully and effectively hedged currency. These factors more than offset an adverse geographic mix, an increase in pension expense and a stronger dollar. Although global economic conditions continued to constrain cash instrument sales, adjusted net earnings per fully diluted share grew 13.3%."
Recent Developments
-- Completed the ODS acquisition.
-- Raised approximately $735 million in connection with the
acquisition, $495 million from debt issuance and $240 million from
stock issuance. The forward sale agreements entered into in May
2009 settled on July 27, 2009 adding 4.7 million newly issued shares
of common stock to Beckman Coulter's outstanding shares.
-- Declared an $0.18 per share quarterly cash dividend, a 6% increase over
prior year, payable on November 23, 2009 to all stockholders of record
on November 9, 2009, representing the company's 16th consecutive year of
annual dividend increases.
-- Elected two new members to the company's Board of Directors effective
October 2009:
-- Richard Wallace, President and Chief Executive Officer of KLA-Tencor
Corporation, a world leading supplier of process control and yield
management solutions for the semiconductor and related
nanoelectronics industries, and
-- Lewis T. "Rusty" Williams, M.D./Ph.D., Executive Chairman and
Founder of Five Prime Therapeutics, Inc., a clinical stage,
privately held company discovering and developing innovative protein
and antibody therapeutics.
Nine Months Summary
For the first nine months of 2009, revenue was nearly flat versus prior year, up 3.8% in constant currency. Excluding the ODS acquisition, total revenue decreased 3.6%, up 0.9% in constant currency. Year-to-date recurring revenue was up 4.8%, or 10% in constant currency, with the ODS acquisition contributing approximately 3.1%.
Adjusted gross margin expanded 120 basis points to 46.9% compared to the first nine months of 2008 due to favorable mix.
Operating income was $119.9 million. Adjusting for special items, operating income increased by 16.8% to $267.2 million. Adjusted operating margin increased 180 basis points to 11.8% including ODS, which trimmed the margin by 20 basis points. The primary drivers of adjusted operating income growth were favorable product mix and expense management.
Net earnings were $82.9 million, or $1.26 per fully diluted share. On an adjusted basis, net earnings increased 15.8% to $168.6 million. Adjusted net earnings per fully diluted share increased 12.8% to $2.55, including the $0.10 dilutive impact from the ODS acquisition, and operating cash flow was $402 million, up more than $150 million.
Full Year 2009 Outlook (Based on adjusted results and excluding ODS)
"Based on the year-to-date results and the current market conditions, we expect our total revenue to be roughly flat, or up 0% to 2% in constant currency. Recurring revenue is still expected to grow in the range of 6% to 7% for the year on a constant currency basis, which is supported by the 6.8% actual growth rate we've seen through nine months. We continue to expect the Beckman Coulter operating margin to be around 13%. The tax rate should come down to approximately 25% for the year, and we expect non-operating expenses to approximate $55 million. Our CAPEX estimate should be a little lower at approximately $325 million. Depreciation and Amortization are estimated at between $270 million to $290 million. We have tightened and raised our stand-alone Beckman Coulter EPS range and now expect it to come in between $3.85 and $3.95 per fully diluted share. The confidence in our full year expectations is founded on what we have witnessed for nine months now: Recurring revenue growth resiliency - combined with tight control over expenses. As for the Olympus impact, we now estimate that the acquisition effect for the five months in 2009 will be approximately $0.18 dilutive; but note that $0.10 is due to the new acquisition intangibles amortization," Garrett said.
"We are pleased with the rapid progress of our integration of Olympus. Completion of this consolidation should provide further stability to our recurring revenue model. Despite a challenging operating environment, we expect to achieve solid recurring revenue growth augmented by well controlled expenses. We believe this reflects the stability of our sector and is consistent with our long-term goal to deliver annual earnings growth of 9% to 12%," concluded Garrett.
2010 Outlook
As previously stated, we will provide 2010 preliminary outlook, including the effect of the ODS acquisition, at our Annual Business Review set for December 17, 2009 in New York, New York.
Investor Conference Call and Webcast
As previously announced, there will be a conference call and webcast presentation today, Thursday, October 29, 2009 at 5:00 pm ET to discuss the third quarter and first nine months 2009 results. The presentation webcast will be available live and is accessible to all investors through Beckman Coulter's website at www.beckmancoulter.com or at www.streetevents.com. When accessing the webcast through the Beckman Coulter site, select "go to IR" under Investor Relations and find the call listed under "What's Ahead." The webcast will be archived on both websites for future on-demand replay through Friday, November 13, 2009.
About Beckman Coulter
Beckman Coulter, Inc., based in Orange County, California, develops, manufactures and markets products that simplify, automate and innovate complex biomedical tests. More than 200,000 Beckman Coulter systems operate in laboratories around the world, supplying critical information for improving patient health and reducing the cost of care. Recurring revenue, consisting of consumable supplies (including reagent test kits), service and operating-type lease payments, represent about 78% of the company's 2008 revenue of $3.1 billion. For more information, visit www.beckmancoulter.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements contain words such as "may," "will," "might," "expect," "believe," "anticipate," "could," "would," "should," "estimate," "continue," "pursue," or the negative thereof or comparable terminology, and may include information regarding the company's expectations, goals or intentions regarding the future, including statements regarding expectations of full-year earnings outlook, earnings per share growth, anticipated market strength, expectations of risk management, anticipated product mix, expense management, our ability to integrate acquisitions, including the ODS acquisition and statements under the heading "Full Year Outlook," including expectations for earnings, constant currency recurring revenue growth, constant currency growth in total revenue, recurring revenue growth, operating margin, non-operating expense, expense management, tax rate, CAPEX estimate, earnings per diluted share, integration of our acquisitions and the ODS impact, stability of our sector, risk management, and depreciation and amortization. The outlook provided is based on fiscal year ended 2008 and the quarter and nine months ended September 30, 2009 adjusted results and does not include special items that have occurred or may occur in 2009.
This press release contains the company's unaudited financial results for the quarter and nine months ended September 30, 2009. These results may change as a result of further review by the company's independent accountants and management. The completion of the review of our financial statements could result in additional changes to our financial results and could result in the identification of issues relating to the effectiveness of our internal control over financial reporting. Final third quarter results will be provided in the company's quarterly report to the SEC on Form 10-Q.
Forward-looking statements included in this press release involve certain risks and uncertainties and are based on management's current expectations, estimates, forecasts and projections about the company and are subject to risks and uncertainties, some of which may be beyond the company's control, that could cause actual results and events to differ materially from those stated in the forward-looking statements. These risks and uncertainties include our ability to effectively integrate the ODS acquisition; our ability to compete effectively; changes in laws and regulations, including pending healthcare reform; market demand for the company's new and existing products; intellectual property infringement claims by others and our ability to protect the company's intellectual property; difficulty in obtaining materials and components for our products; consolidation of our customer base, formation of group purchasing organizations and changes in customer inventory levels and inventory management practices; reductions in government funding to our customers; foreign currency exchange fluctuations; global market, economic and political conditions and natural disasters; costs associated with our supply chain initiatives; tax risks and regulations; changes in the value of our investment in marketable securities; and our ability to successfully acquire and integrate acquired businesses and realize the anticipated benefits from such acquisitions. Additional factors that could cause actual results to differ are discussed in Part I, Item 1A (Risk Factors) of the company's Form 10-K filed with the SEC on February 23, 2009 as well as in the company's Form 10-Q filed since then and reports on Form 8-K. Forward-looking statements contained in this press release are made only as of the date hereof, and we undertake no obligation to update these disclosures except as required by law.
Change in Accounting for Convertible Debt Securities
In May 2008, the FASB issued a new accounting standard related to convertible debt instruments that may be settled in cash upon conversion. Under this standard, such convertible debt securities would be separated into a debt and equity component. This change in principle, which was effective for us as of January 1, 2009, was applied retrospectively to previously issued convertible debt instruments. The adoption of this new accounting standard increased our 2008 and 2007 non-cash interest expense by approximately $13 million per year, resulting in a reduction of our diluted earnings per share by approximately $0.12 in 2008 and 2007. Interest expense increased by $3.6 million and $3.5 million for the three months ended September 30, 2009 and 2008, respectively, and by $10.7 million and $10.2 million for the nine months ended September 30, 2009 and 2008, respectively. Our diluted earnings per share decreased by $0.03 and $0.04 for the three months ended September 30, 2009 and 2008, respectively, and by $0.10 and $0.09 for the nine months ended September 30, 2009 and 2008, respectively, as a result of the adoption.
Non-GAAP Financial Measures
"GAAP" refers to financial information presented in accordance with generally accepted accounting principles in the United States.
To supplement the condensed consolidated financial statements and discussion presented on a GAAP basis, this press release includes non-GAAP financial measures with respect to the quarter and nine months ended September 30, 2009 and 2008 and with respect to Outlook for 2009. Management uses non-GAAP financial measures because it believes the appropriate analysis of our profitability cannot be effectively considered while incorporating the effect of unusual items and charges that have not been experienced consistently in prior periods. Also, management believes these non-GAAP measures facilitate our comparison of our historical results to our competitors. The Company reported the following non-GAAP financial measures: "adjusted gross margin," "adjusted operating expense," "adjusted operating income," "adjusted operating margin," "adjusted non-operating expense," "adjusted net earnings," "adjusted diluted earnings per share," "adjusted tax rate," "free cash flow," "constant currency growth," "adjusted earnings before interest, taxes, depreciation and amortization" ("adjusted EBITDA") and "adjusted pretax profit growth." The Company also provided its outlook for 2009 for "adjusted operating margin," "adjusted non-operating expense," "adjusted tax rate," and "adjusted earnings per diluted share." These non-GAAP financial measures are not in accordance with or an alternative to GAAP.
Adjusted gross margin excludes the impact of the adjustment for the fair market value of acquired inventory, which is recorded as a charge to cost of sales over the period which the acquired inventory is sold, and excludes the charge to write-off discontinued products as a result of restructuring to consolidate facilities. The adjustment related to the fair value of inventory is beyond the control of management and is limited to the periods following an acquisition. The charges excluded are expected to be non-recurring. Management uses adjusted gross margin in evaluating performance and comparison to operating budgets and prior periods. A reconciliation of gross margin, the GAAP measure most directly comparable to adjusted gross margin, is provided on the attached schedule.
Adjusted operating expense excludes the impact of charges associated with restructuring or relocations in connection with our supply chain improvement initiatives, acquisition and integration related expenses, environmental remediation, charges associated with acquisitions and non-recurring license fees, and other operating expense items that we do not expect to be recurring. Some of the items excluded may be beyond the control of management and are less predictable than our core performance. Although management expects to continue to incur costs for its supply chain initiatives and recent acquisitions through 2009, management has not developed plans for those initiatives in sufficient detail to estimate the costs to be incurred in each period and believes those costs do not reflect the ongoing performance of the core business. Management uses adjusted operating expense to prepare operating budgets and forecasts and to measure our performance against those budgets and forecasts. A reconciliation of operating expense, the GAAP measure most directly comparable to adjusted operating expense, is provided on the attached schedule.
Adjusted operating income excludes the impact of charges to operating expense as described above. Management uses adjusted operating income to prepare operating budgets and forecasts and to measure our performance against those budgets and forecasts. Additionally, the Company uses adjusted operating income to evaluate management performance for compensation purposes. A reconciliation of operating income, the GAAP measure most directly comparable to adjusted operating income, is provided on the attached schedule.
Adjusted operating margin is calculated using adjusted operating income, as described above, divided by revenue. Management uses adjusted operating margin in its analysis of operating budgets and forecasts and to measure our performance against those budgets and forecasts, since this measure is reflective of our operating costs on an ongoing basis and excludes transactions or events that may be beyond the control of management or which are unpredictable. Management uses adjusted operating margin when evaluating the performance trends of our Company compared to others. A reconciliation of operating margin, the GAAP measure most directly comparable to adjusted operating margin, is provided on the attached schedule.
Adjusted non-operating expense excludes the impact of non-operating items that we do not expect to be recurring. For 2009 these items include hedging gains or losses in connection with forward contracts to hedge the Yen purchase price of the acquisition of ODS and other currency gains related to the transaction, and the incremental net interest expense related to the debt issued to finance the acquisition prior to the date of the acquisition, since the funds had not yet been deployed to finance the acquisition and only earned a nominal return while invested in conservative investments. For 2008 these items include the gain recognized on the sale of vacant land in Miami. Management uses adjusted non-operating expense to prepare budgets and forecasts and to measure our performance against those budgets and forecasts. A reconciliation of non-operating expense, the GAAP measure most directly comparable to adjusted non-operating expense, is provided on the attached schedule.
Adjusted net earnings excludes the impact of income and expense items excluded from adjusted operating income, as described above, and non-operating income and expense items that we do not expect to be recurring, including hedging gains or losses in connection with forward contracts to hedge the Yen purchase price of the acquisition of ODS and other currency gains related to the transaction. Adjusted net earnings also excludes the incremental net interest expense related to the debt issued to finance the acquisition prior to the date of the acquisition, since the funds had not yet been deployed to finance the acquisition and only earned a nominal return while invested in conservative investments. Adjusted net earnings also exclude the related incremental tax effect of these items. Adjusted diluted earnings per share exclude the effect of those same items from diluted earnings per share. Reconciliations of net earnings, the GAAP measure most directly comparable to adjusted net earnings, and earnings per share, the GAAP measure most directly comparable to adjusted earnings per share, are provided on the attached schedule.
Adjusted EBITDA is a non-GAAP measure that management believes provides useful supplemental information for management and investors. Adjusted EBITDA is a tool that provides a measure of the adjusted net earnings, as described above, of the business before considering the impact of interest, taxes, depreciation and amortization. We believe adjusted EBITDA provides management with a means to analyze and evaluate the profitability of our business and its ability to generate cash flow before the effect of interest, taxes, depreciation and amortization. A reconciliation of net earnings, the GAAP measure most directly comparable to adjusted EBITDA, is provided on the attached schedule.
Adjusted tax rate excludes the incremental tax effect of income and expense items excluded from adjusted net earnings, as described above. A reconciliation of the tax rate, the GAAP measure most directly comparable to adjusted tax rate, is provided on the attached schedule.
Free cash flow is a non-GAAP measure that management believes provides useful supplemental information for management and investors, because it reports the cash provided by operating activities after cash invested in property, plant and equipment. We believe this measure provides management and investors with a measure to determine the health of the business and cash flow generated by the business in excess of the cash needed to be reinvested in the business. A reconciliation of cash provided by operating activities, the GAAP measure most directly comparable to free cash flow, is provided on the attached schedule.
Our discussion of international revenue includes comparisons on a constant currency basis, which we have previously defined in our annual report on Form 10-K. We believe use of this measure aids in the understanding of our operations without the impact of foreign currency. This presentation is consistent with our internal use of the measure, which we use to measure the profitability of ongoing operating results against prior periods and against our internally developed targets. We believe our investors also use this measure to analyze the underlying trends in our international operations.
Our Outlook for 2009 adjusted operating income, adjusted operating margin, adjusted pretax profit growth, adjusted non-operating expense, adjusted tax rate, adjusted earnings per diluted share and adjusted EBITDA excludes the impact of charges or write-offs associated with acquisitions, environmental remediation, restructuring, including relocations in connection with our supply chain improvement initiatives, acquisition and integration related costs, gains or losses upon sale of assets or businesses and other items that we do not expect to be recurring, because we are unable to forecast such items with reasonable predictability and do not include those items in our operating budgets. Although management expects to continue to incur costs for its supply chain initiatives and recent acquisitions through 2009, management has not developed plans for those initiatives in sufficient detail to estimate the costs to be incurred in each period and believes those costs do not reflect the ongoing performance of the core business. The Company is not able to provide a reconciliation of projected non-GAAP financial measures to expected reported results due to the unknown effect, timing and potential significance of special charges and our inability to forecast charges associated with future transactions and initiatives. However, management believes our Outlook for 2009, using the non-GAAP measures indicated, reflects management's expectation of the performance of the core operations of the Company and believes this information is useful to investors to view our operations through the eyes of management.
The presentation of historical non-GAAP financial measures is not meant to be considered in isolation from or as a substitute for results prepared in accordance with GAAP. We use these non-GAAP measures to supplement net earnings and other corresponding measures on a basis prepared in conformance with GAAP. These non-GAAP financial measures reflect additional ways of viewing aspects of our operations that when viewed with our GAAP results provide a more complete understanding of factors and trends affecting our business. However, investors should understand that the excluded items are actual income and expenses that may impact the cash available to us for other uses. We strongly encourage investors to consider both net earnings and cash flows determined under GAAP as compared to the non-GAAP measures presented and to perform their own analysis, as appropriate.
Reconciling Items to Non-GAAP Financial Measures
The non-GAAP measures described above exclude the following items:
a) Restructuring and acquisition related costs -We recorded
restructuring and acquisition related charges of $79.2 million and
$127.2 million for the quarter and nine months ended September 30,
2009, and $7.8 million and $13.2 million (including a net gain of
$3.2 million on sale of building and land in Hialeah, Florida), for
the quarter and nine months ended September 30, 2008, respectively.
These charges were primarily associated with our acquisition of the
lab-based diagnostic business of Olympus Corporation (ODS) on August
3, 2009, our supply chain improvement initiative and Orange County
consolidation project, and included charges related to severance,
relocation, asset impairment and other exit costs.
In connection with the ODS acquisition, we incurred acquisition
related expenses of $13.4 million and $28.1 million for the quarter
and nine months ended September 30, 2009, respectively, primarily
pertaining to investment banking, legal and consulting services.
b) Foreign currency gains related to ODS acquisition - Consideration for
the ODS acquisition was paid in Japanese Yen. To mitigate unfavorable
fluctuation in the movement of the Yen in relation to the U.S.
dollar, we entered into forward contracts to purchase Japanese Yen at
the spot rate to effectively fix the U.S. dollar cost of the closing
payment to approximately $780 million. These business acquisition
related forward contracts cannot be designated as hedged instruments
under accounting rules. Gains or losses on derivative contracts not
designated as a hedged instrument are recognized in earnings. As a
result, we recognized a gain of approximately $10.9 million and $19.6
million for the quarter and nine months ended September 30, 2009,
respectively, which is reflected within non-operating income in our
consolidated statement of earnings.
Additionally in the third quarter of 2009, we recorded a $2.2 million
foreign currency gain related to the days between obtaining the funds
(denominated in Yen) and remitting the funds to purchase ODS.
Furthermore, we recorded an exchange gain of $4.9 million on
settlement of intercompany loans related to the funding of the ODS
acquisition in the quarter ended September 30, 2009.
c) Fair market value inventory adjustment - We recorded an $8.8 million
charge during the third quarter of 2009 related to the fair value of
acquired inventory in connection with the ODS acquisition, as a
portion of the acquired inventory was sold during the third quarter.
A similar charge for $1.0 million was incurred during the first
quarter of 2008 in connection with our acquisition of the flow
cytometry business of Dako A/S related to the fair value of acquired
inventory sold in the first quarter.
d) Inventory write-off - We recorded a charge of $1.6 million related to
inventory written off due to discontinuation of certain product lines
in the third quarter of 2009.
e) Interest expense on debt offering - On May 26, 2009, we issued $250
million principal amount of the Company's 6% Senior Notes due 2015
and $250 million principal amount of the Company's 7% Senior Notes
due 2019 (the "Notes"). The proceeds from the Notes were used to
partially fund the ODS acquisition. During the third quarter and nine
months ended September 30, 2009, we incurred approximately $2.4
million and $5.6 million, respectively, in net interest expense
associated with these Notes prior to the date the acquisition closed.
f) Purchase of sublicense-Molecular testing - During the third quarter
of 2009, we entered into an agreement for non-exclusive sublicense
rights to obtain rights under certain patents to be used to develop a
molecular assay, which is in development and recorded an R&D charge
of $5.8 million. During the second quarter of 2008, we entered into
an agreement for non-exclusive sublicense rights relating to testing
for the hepatitis C virus (HCV) and recorded an R&D charge of $12.0
million. Under the agreement, we can develop, manufacture and sell a
quantitative viral load HCV blood test for use on our molecular
diagnostic instrument, which is in development.
g) Litigation accrual - During the third quarter of 2009, we recorded a
$3.9 million accrual related to a labor claim for the period from
2000 to 2005.
h) Miami vacant land sale - During the second quarter 2008, we received
the remaining $1.2 million held in escrow related to our 2007 sale of
vacant land adjacent to our Miami, Florida facility and recorded a
gain on sale in other non-operating income
i) Environmental remediation - In September 2008, we recorded a $19.0
million environmental remediation charge. In connection with our
Orange County facility consolidation and planned closure of our
Fullerton, California site, we began conducting environmental studies
at the Fullerton facility and detected certain contaminants in the
soil and groundwater at the site. The $19.0 million represents our
best estimate of future expenditures for evaluation and remediation
at the site.
j) Royalty buy out - During the third quarter of 2008, we incurred an
$11.7 million charge related to buying out our future US royalty
payments under a license from Nephromics, LLC ("Nephromics"). This
fully paid up license relates to future US sales of a number of
markers including a preeclampsia panel covered by patents licensed
exclusively to Nephromics. The products under the licensing
agreements have not received regulatory clearance and are still in
the development stage; therefore, the cost was charged to R&D.
Contact: Cynthia Skoglund (714) 961-6320
Manager, Investor Relations
BECKMAN COULTER, INC.
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
(in millions, except amounts per share and share data)
(unaudited)
Quarter Ended Nine Months Ended
September 30, September 30,
------------- -------------
2009 2008 2009 2008
---- ---- ---- ----
Recurring revenue -
supplies, service and
lease payments $676.1 $594.6 $1,878.8 $1,792.6
Cash instrument sales 146.7 164.2 392.2 495.0
Total revenue 822.8 758.8 2,271.0 2,287.6
Cost of recurring revenue 324.9 274.5 878.2 823.1
Cost of cash instrument
sales 120.0 135.3 338.9 419.8
Total cost of sales 444.9 409.8 1,217.1 1,242.9
Gross profit 377.9 349.0 1,053.9 1,044.7
Operating costs and
expenses
Selling, general and
administrative 222.6 209.2 614.5 625.5
Research and development 71.7 74.8 192.3 215.2
Restructuring and
acquisition related costs 79.2 7.8 127.2 13.2
Environmental remediation - 19.0 - 19.0
Total operating costs
and expenses 373.5 310.8 934.0 872.9
Operating income 4.4 38.2 119.9 171.8
Non-operating (income) expense
Interest income (1.4) (2.4) (4.0) (8.6)
Interest expense 24.3 16.7 52.7 44.5
Other, net (18.0) (2.0) (24.9) (5.5)
Total non-operating
expense 4.9 12.3 23.8 30.4
Earnings before income taxes (0.5) 25.9 96.1 141.4
Income tax (benefit) provision (2.0) 1.8 13.2 30.5
Net earnings $1.5 $24.1 $82.9 $110.9
Basic earnings per share $0.02 $0.38 $1.27 $1.76
Diluted earnings per share $0.02 $0.37 $1.26 $1.72
Weighted average number
of shares outstanding
(in thousands)
Basic 67,946 62,789 65,127 62,931
Diluted 69,372 64,334 66,033 64,403
BECKMAN COULTER, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in millions)
(unaudited)
September 30, December 31,
2009 2008
---- ----
Assets
Current assets
Cash and cash equivalents $262.3 $120.0
Trade and other receivables, net 804.9 706.7
Inventories 652.3 496.2
Deferred income taxes 60.4 62.5
Prepaids and other current assets 157.9 76.3
Total current assets 1,937.8 1,461.7
Property, plant and equipment, net 594.8 465.5
Customer leased instruments, net 534.8 448.7
Goodwill 1,016.0 696.3
Other intangible assets, net 572.8 396.8
Deferred income taxes - 1.3
Other assets 77.0 71.5
Total assets $4,733.2 $3,541.8
Liabilities and Stockholders' Equity
Current liabilities
Accounts payable $264.4 $172.2
Accrued expenses 565.8 416.9
Income taxes payable - 29.7
Short-term borrowings 26.8 21.4
Current maturities of long-term debt 11.1 4.4
Total current liabilities 868.1 644.6
Long-term debt, less current maturities 1,321.8 819.0
Deferred income taxes 65.9 -
Other liabilities 559.0 595.9
Total liabilities 2,814.8 2,059.5
Commitments and contingencies
Stockholders' equity
Preferred stock - -
Common stock 7.4 6.9
Additional paid-in capital 875.5 621.5
Retained earnings 1,431.1 1,381.6
Accumulated other comprehensive loss (143.1) (199.8)
Treasury stock, at cost (252.5) (327.9)
Common stock held in grantor trust,
at cost (21.0) (19.3)
Grantor trust liability 21.0 19.3
Total stockholders' equity 1,918.4 1,482.3
Total liabilities and stockholders'
equity $4,733.2 $3,541.8
BECKMAN COULTER, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in millions)
(unaudited)
Nine Months Ended September 30,
-------------------------------
2009 2008
---- ----
Cash flows from operating activities
Net earnings $82.9 $110.9
Adjustments to reconcile net earnings to
net cash provided by operating activities
Depreciation and amortization 219.4 192.1
Provision for doubtful accounts receivable 2.4 6.6
Share-based compensation expense 27.2 27.0
Gain on sales of building and land - (5.1)
Accreted interest on convertible debt 10.7 10.2
Amortization of pension costs 18.7 7.6
U.S. pension trust contributions (24.0) (8.2)
Deferred income taxes (11.1) 4.1
Changes in assets and liabilities, net
of acquisitions
Trade and other receivables 35.1 18.8
Prepaid and other current assets (19.8) (13.1)
Inventories (58.1) (57.4)
Accounts payable and accrued expenses 97.6 (29.5)
Income taxes payable 9.8 (32.0)
Long-term lease receivables 11.4 8.3
Other - 3.6
Net cash provided by operating
activities 402.2 243.9
Cash flows from investing activities
Additions to property, plant and
equipment (106.2) (56.4)
Additions to customer leased instruments (114.6) (146.8)
Proceeds from sales of building and land - 7.4
Payments for technology licenses (5.1) (2.2)
Payments for business acquisitions, net
of cash acquired (802.2) (10.8)
Net cash used in investing
activities (1,028.1) (208.8)
Cash flows from financing activities
Dividends to stockholders (33.4) (31.9)
Proceeds from issuance of stock 319.2 67.4
Repurchase of common stock as treasury
stock - (93.6)
Repurchase of common stock held in
grantor trust (1.7) (1.3)
Excess tax benefits from share-based
payment transactions 5.4 11.6
Net (repayments)/borrowings on lines of
credit 0.1 18.6
Proceeds from issuance of long-term debt 497.8 -
Debt repayments - (16.7)
Debt issuance costs (10.3) -
Equity issuance costs (11.8) -
Net cash provided by (used in)
financing activities 765.3 (45.9)
Effect of exchange rates on cash and
cash equivalents 2.9 (0.8)
Change in cash and cash equivalents 142.3 (11.6)
Cash and cash equivalents-beginning
of period 120.0 83.0
Cash and cash equivalents-end of period $262.3 $71.4
BECKMAN COULTER, INC
SEGMENT REVENUES (1)
(in millions)
(unaudited)
Quarter Ended
September 30,
------------- Constant
Reported Currency
2009 2008 Growth% Growth%(2)
Clinical Diagnostics(3)
Chemistry and Clinical
Automation $282.7 $220.4 28.3% 32.0%
Cellular Analysis 229.0 233.1 (1.7)% 0.7%
Immunoassay and Molecular
Diagnostics 199.3 182.4 9.3% 13.1%
Total Clinical Diagnostics 711.0 635.9 11.8% 15.1%
Life Sciences 111.8 122.9 (9.0)% (6.8)%
Total revenues $822.8 $758.8 8.4% 11.6%
Nine Months Ended
September 30,
------------- Constant
Reported Currency
2009 2008 Growth % Growth %(2)
Clinical Diagnostics(3)
Chemistry and Clinical
Automation $708.4 $669.0 5.9% 10.7%
Cellular Analysis 668.8 709.1 (5.7)% (1.8)%
Immunoassay and Molecular
Diagnostics 578.9 548.7 5.5% 10.9%
Total Clinical Diagnostics 1,956.2 1,926.7 1.5% 6.2%
Life Sciences 314.9 361.0 (12.8)% (8.7)%
Total revenues $2,271.0 $2,287.6 (0.7)% 3.8%
(1) Amounts may not foot due to rounding.
(2) Constant currency growth as presented herein represents - Current
period constant currency revenue less prior year reported revenue /
Prior year reported revenue
(3) 2009 includes revenue of $65 million as a result of the acquisition
of the diagnostics systems business from Olympus Corporation.
BECKMAN COULTER, INC
REVENUE BY GEOGRAPHY (1)
(in millions)
(unaudited)
Quarter Ended
September 30,
------------- Constant
Reported Currency
2009 2008 Growth % Growth %
---- ---- -------- --------
Revenue by geography:
United States $402.2 $376.5 6.8% 6.8%
Europe 182.4 165.4 10.3% 19.6%
Emerging Markets (2) 65.7 68.8 (4.6)% 3.1%
Asia Pacific 122.9 94.5 30.0% 27.5%
Other (3) 49.6 53.6 (7.4)% 2.5%
Total revenues $822.8 $758.8 8.4% 11.6%
Nine Months Ended
September 30,
------------- Constant
Reported Currency
2009 2008 Growth % Growth %
---- ---- -------- --------
Revenue by geography:
United States $1,135.0 $1,133.4 0.1% 0.1%
Europe 493.4 511.8 (3.6)% 8.5%
Emerging Markets (2) 178.8 205.1 (12.8)% (2.9)%
Asia Pacific 322.5 279.2 15.5% 15.5%
Other (3) 141.3 158.1 (10.6)% 3.5%
Total revenues $2,271.0 $2,287.6 (0.7)% 3.8%
(1) Amounts may not foot due to rounding
(2) Includes Eastern Europe, Russia, Middle East, Africa and India
(3) Includes Canada and Latin America
BECKMAN COULTER, INC.
SALES MIX (1)
(in millions)
(unaudited)
2009
----
Qtr 1 Qtr 2 Qtr 3 Qtr 4
----- ----- ----- -----
Recurring revenue $573.7 $629.0 $676.1
Cash instrument sales 117.8 127.7 146.7
Total revenues $691.5 $756.7 $822.8
2008
----
Qtr 1 Qtr 2 Qtr 3 Qtr 4 Year
----- ----- ----- ----- ----
Recurring revenue $579.3 $618.7 $594.6 $610.0 $2,402.6
Cash instrument sales 151.2 179.6 164.2 201.3 696.3
Total revenues $730.5 $798.3 $758.8 $811.3 $3,098.9
2007
----
Qtr 1 Qtr 2 Qtr 3 Qtr 4 Year
----- ----- ----- ----- ----
Recurring revenue $513.3 $546.0 $538.6 $580.5 $2,178.4
Cash instrument sales 100.3 143.7 130.4 208.5 582.9
Total revenues $613.6 $689.7 $669.0 $789.0 $2,761.3
(1) Amounts may not foot due to rounding.
BECKMAN COULTER, INC.
RECONCILIATION OF GAAP GROSS PROFIT AND GROSS PROFIT MARGIN TO
ADJUSTED GROSS PROFIT AND GROSS PROFIT MARGIN (1) (2)
(in millions)
(unaudited)
Quarter Ended Nine Months Ended
September 30, September 30,
------------- -------------
2009 2008 2009 2008
---- ---- ---- ----
GAAP gross profit $377.9 $349.0 $1,053.9 $1,044.7
Reconciling items:
Fair market value inventory
adjustment ( c ) 8.8 - 8.8 1.0
Inventory write-off (d) 1.6 - 1.6 -
Adjusted gross profit $388.3 $349.0 $1,064.3 $1,045.7
GAAP gross profit margin 45.9% 46.0% 46.4% 45.7%
Impact of adjustments 1.3% - 0.5% -
Adjusted gross profit margin 47.2% 46.0% 46.9% 45.7%
(1) Amounts may not foot due to rounding.
(2) See accompanying Non-GAAP Financial Measures section for description
of Non-GAAP adjustments.
BECKMAN COULTER, INC.
RECONCILIATION OF GAAP OPERATING EXPENSE TO
ADJUSTED OPERATING EXPENSE (1) (2)
(in millions)
(unaudited)
Quarter Ended Nine Months Ended
September 30, September 30,
------------- -------------
2009 2008 2009 2008
---- ---- ---- ----
GAAP operating expense $373.5 $310.8 $934.0 $872.9
Reconciling items:
Restructuring and acquisition
related costs (a) (79.2) (7.8) (127.2) (13.2)
Purchase of sublicense-
Molecular testing (f) (5.8) - (5.8) (12.0)
Litigation accrual (g) (3.9) - (3.9) -
Environmental remediation (i) - (19.0) - (19.0)
Royalty buy out (j) - (11.7) - (11.7)
Adjusted operating expense $284.6 $272.3 $797.1 $817.0
(1) Amounts may not foot due to rounding.
(2) See accompanying Non-GAAP Financial Measures section for description
of Non-GAAP adjustments.
BECKMAN COULTER, INC.
RECONCILIATION OF GAAP OPERATING INCOME AND MARGIN TO
ADJUSTED OPERATING INCOME AND MARGIN (1) (2)
(in millions)
(unaudited)
Quarter Ended Nine Months Ended
September 30, September 30,
------------- -------------
2009 2008 2009 2008
---- ---- ---- ----
GAAP operating income $4.4 $38.2 $119.9 $171.8
Reconciling items:
Restructuring and acquisition
related costs (a) 79.2 7.8 127.2 13.2
Fair market value inventory
adjustment ( c ) 8.8 - 8.8 1.0
Inventory write-off (d) 1.6 - 1.6 -
Purchase of sublicense-Molecular
testing (f) 5.8 - 5.8 12.0
Litigation accrual (g) 3.9 - 3.9 -
Environmental remediation (i) - 19.0 - 19.0
Royalty buy out (j) - 11.7 - 11.7
Adjusted operating income $103.7 $76.7 $267.2 $228.7
GAAP operating margin 0.5% 5.0% 5.3% 7.5%
Impact of adjustments 12.1% 5.1% 6.5% 2.5%
Adjusted operating margin 12.6% 10.1% 11.8% 10.0%
(1) Amounts may not foot due to rounding.
(2) See accompanying Non-GAAP Financial Measures section for description
of Non-GAAP adjustments.
BECKMAN COULTER, INC.
RECONCILIATION OF GAAP NET EARNINGS TO ADJUSTED NET EARNINGS (1) (2)
(in millions, except amounts per share)
(unaudited)
Quarter Ended September 30,
---------------------------
2009 2008
---- ----
Per Diluted Per Diluted
Amount Share Amount Share
------ ----- ------ -----
GAAP net earnings $1.5 $0.02 $24.1 $0.37
Reconciling items:
Restructuring and
acquisition related
costs (a) 79.2 1.14 7.8 0.12
Foreign currency gains
related to ODS
acquisition (b) (18.0) (0.26) - -
Fair market value
inventory
adjustment ( c ) 8.8 0.13 - -
Inventory write-off (d) 1.6 0.02 - -
Interest expense on debt
offering (e) 2.4 0.03 - -
Purchase of sublicense-
Molecular testing (f) 5.8 0.08 - -
Litigation accrual (g) 3.9 0.06 - -
Environmental remediation (i) - - 19.0 0.30
Royalty buy out (j) - - 11.7 0.19
Adjustment for income
taxes (26.0) (0.37) (14.6) (0.23)
Adjusted net earnings $59.2 $0.85 $48.0 $0.75
BECKMAN COULTER, INC.
RECONCILIATION OF GAAP NET EARNINGS TO ADJUSTED NET EARNINGS (1) (2)
(in millions, except amounts per share)
(unaudited)
Nine Months Ended September 30,
-------------------------------
2009 2008
---- ----
Per Diluted Per Diluted
Amount Share Amount Share
------ ------ ------ -----
GAAP net earnings $82.9 $1.26 $110.9 $1.72
Reconciling items:
Restructuring and
acquisition related
costs (a) 127.2 1.92 13.2 0.20
Foreign currency gains
related to ODS
acquisition (b) (26.7) (0.40) - -
Fair market value
inventory
adjustment ( c ) 8.8 0.13 1.0 0.02
Inventory write-off (d) 1.6 0.02 - -
Interest expense on debt
offering (e) 5.6 0.08 - -
Purchase of sublicense-
Molecular testing (f) 5.8 0.09 12.0 0.19
Litigation accrual (g) 3.9 0.06 - -
Miami vacant land sale (h) - - (1.2) (0.02)
Environmental remediation (i) - - 19.0 0.30
Royalty buy out (j) - - 11.7 0.18
Adjustment for income
taxes (40.5) (0.61) (21.1) (0.33)
Adjusted net earnings $168.6 $2.55 $145.5 $2.26
(1) Amounts may not foot due to rounding.
(2) See accompanying Non-GAAP Financial Measures section for description
of Non-GAAP adjustments.
BECKMAN COULTER, INC.
RECONCILIATION OF GAAP NET EARNINGS TO ADJUSTED EBITDA (1) (2)
(in millions)
(unaudited)
Quarter Ended Nine Months Ended
September 30, September 30,
------------- -------------
2009 2008 2009 2008
---- ---- ---- ----
GAAP net earnings $1.5 $24.1 $82.9 $110.9
Income taxes (2.0) 1.8 13.2 30.5
Interest expense 24.3 16.7 52.7 44.5
Depreciation and amortization 80.6 69.7 219.4 192.1
EBITDA 104.4 112.3 368.2 378.0
Reconciling items:
Restructuring and acquisition
related costs (a) 79.2 7.8 127.2 13.2
Foreign currency gains related to
ODS acquisition (b) (18.0) - (26.7) -
Fair market value inventory
adjustment ( c ) 8.8 - 8.8 1.0
Inventory write-off (d) 1.6 - 1.6 -
Purchase of sublicense-Molecular
testing (f) 5.8 - 5.8 12.0
Litigation accrual (g) 3.9 - 3.9 -
Miami vacant land sale (h) - - - (1.2)
Environmental remediation (i) - 19.0 - 19.0
Royalty buy out (j) - 11.7 - 11.7
Adjusted EBITDA $185.7 $150.8 $488.8 $433.7
(1) Amounts may not foot due to rounding.
(2) See accompanying Non-GAAP Financial Measures section for description
of Non-GAAP adjustments.
BECKMAN COULTER, INC.
RECONCILIATION OF GAAP TOTAL NON-OPERATING EXPENSE TO
ADJUSTED TOTAL NON-OPERATING EXPENSE (1) (2)
(in millions, except amounts per share)
(unaudited)
Quarter Ended Nine Months Ended
September 30, September 30,
------------- -------------
2009 2008 2009 2008
---- ---- ---- ----
GAAP total non-operating
expense $4.9 $12.3 $23.8 $30.4
Reconciling items:
Foreign currency gains related
to ODS acquisition (b) 18.0 - 26.7 -
Interest expense on debt
offering (e) (2.4) - (5.6) -
Miami vacant land sale (h) - - - 1.2
Adjusted total non-operating
expense $20.5 $12.3 $44.9 $31.6
(1) Amounts may not foot due to rounding.
(2) See accompanying Non-GAAP Financial Measures section for description
of Non-GAAP adjustments.
BECKMAN COULTER, INC.
RECONCILIATION OF GAAP TAX RATE TO ADJUSTED TAX RATE (1) (2)
(in millions)
(unaudited)
Quarter Ended Nine Months Ended
September 30, September 30,
------------ -------------
2009 2008 2009 2008
---- ---- ---- ----
GAAP tax rate (400.0)% 6.9% 13.7% 21.6%
Reconciling items:
Restructuring and acquisition
related costs (a) 417.3% 3.8% 10.9% 1.1%
Foreign currency gains related
to ODS acquisition (b) (112.1)% - (2.6)% -
Fair market value inventory
adjustment ( c ) 41.2% - 0.6% 0.1%
Inventory write-off (d) 9.9% - 0.2% -
Interest expense on debt
offering (e) 14.8% - 0.5% -
Purchase of sublicense-
Molecular testing (f) 36.3% - 0.6% 1.0%
Litigation accrual (g) 21.4% - 0.3% -
Miami vacant land sale (h) - - - (0.1)%
Environmental remediation (i) - 9.2% - 1.5%
Royalty buy out (j) - 5.6% - 1.0%
Adjusted tax rate 28.8% 25.5% 24.2% 26.2%
(1) Amounts may not foot due to rounding.
(2) See accompanying Non-GAAP Financial Measures section for description
of Non-GAAP adjustments.
BECKMAN COULTER, INC.
RECONCILIATION OF FREE CASH FLOW
(in millions)
(unaudited)
Nine Months Ended
September 30,
-------------
2009 2008
---- ----
Net cash provided by operating activities $402.2 $243.9
Additions to property, plant and equipment (106.2) (56.4)
Additions to customer leased instruments (114.6) (146.8)
------- -------
Free cash flow $181.4 $40.7
====== =====
SOURCE Beckman Coulter, Inc.
www.beckmancoulter.com
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Companies: Beckman Coulter, Inc. (BEC)
ORANGE COUNTY, Calif., Oct 29, 2009 /PRNewswire-FirstCall via COMTEX/ --
Beckman Coulter, Inc. (NYSE: BEC) a leading developer, manufacturer and marketer of products that simplify, automate and innovate complex biomedical testing previously announced it will host a conference call today, Thursday, October 29, 2009, at 5:00 p.m. ET to discuss the company's third quarter 2009 results. In addition to the conference call, there will be a webcast presentation of accompanying slides accessible on the company's website.
(Logo: http://www.newscom.com/cgi-bin/prnh/20031202/BECLOGO)
The call may be accessed by dialing (877) 516-3365 or (706) 679-3246 and asking for the Beckman Coulter conference call or reservation number 35948286.
The live call and webcast presentation will be accessible to all investors through Beckman Coulter's website at www.beckmancoulter.com. When accessing the webcast through the Beckman Coulter site, select "go to IR" under "Investor Relations" and find the call listed under "What's Ahead." The webcast will be archived on both websites for future on-demand replay through Friday, November 13, 2009.
Beckman Coulter, Inc., based in Fullerton, California, develops, manufactures and markets products that simplify, automate and innovate complex biomedical tests. More than 200,000 Beckman Coulter systems operate in laboratories around the world, supplying critical information for improving patient health and reducing the cost of care. Recurring revenue, consisting of supplies, test kits, service and operating-type lease payments, represent about 78% of the company's 2008 revenue of $3.1 billion. For more information, visit www.beckmancoulter.com.
Contact: Cynthia Skoglund (714) 961-6320
Manager, Investor Relations
SOURCE Beckman Coulter, Inc.
http:/www.beckmancoulter.com
Tags: biomedical california conference earnings health manufacturer nyse products revenue
Companies: Beckman Coulter, Inc. (BEC)
Oct 28, 2009 (Wall Street Horizon via COMTEX) --
Beckman Coulter (BEC)
Expected next earnings release: Announcement date: 10/29/2009 - After Market Earnings Quarter: Q3 Announcement Status: Verified
Expected next investor conference call information: Conference Call Date: 10/29/2009 Conference Call Time (ET): 5:00 PM Conference Call URL: http://phx.corporate-ir.net/phoenix.zhtml?c=64256&p=irol-EventDetails&EventId=2495938
Tags: conference corporate earnings market
Companies: Beckman Coulter, Inc. (BEC)
Total : 2,058 View more »
Health,...ORANGE COUNTY Calif. July 8 /- Beckman Coulte... ...(Logo: ...,Upcoming,Beckman,Coulter,Investor,Events,Second,Half,of,2009,medicine,medical news today,latest medical news,medical newsletters,current medical news,latest medicine news
Many documents on the Beckman Coulter website are in Portable Document Format (PDF). In order to view them, click here to download Adobe Acrobat Reader.
http://www.beckman.com/resourcecenter/literature/BioLit/BioPdf.asp?OrderNumber=A-10484A
Beckman Coulter Inc. offers the new nanoVette microliter accessory for DU 800 and DU 730 UV/Vis Spectrophotometers for DNA and protein applications.
http://www.dddmag.com/Beckman-Coulter-UV-Vis-Spectrophotometers-0711.aspx?adcode=group=genpro
Scott Garrett, 57, is President and Chief Executive Officer of Beckman Coulter, Inc. and a member of Beckman Coulter's board of directors. Garrett became CEO in February 2005 and was elected to Beckman Coulter's board of directors in January 2005.
Total : 340 View more »
Beckman Coulter Incorporated. The Group's principal activities are to design, manufacture and market systems, which consist of instruments, chemistries, software and supplies for ...
http://www.corporateinformation.com/Company-Snapshot.aspx?cusip=075811109
Beckman Coulter Incorporated. The Group's principal activities are to design, manufacture and market systems, which consist of instruments, chemistries, software and supplies for ...
http://wrightreports.ecnext.com/coms2/reportdesc_COMPANY_075811109
© Beckman Coulter, Inc. 1998 - 2009 © Beckman Instruments, Inc. 1994, 1995, 1996, 1997 All Rights Reserved. U.S. Government Users Restricted Rights - As per GSA ADP Schedule ...
...ORANGE COUNTY Calif. Oct. 29 /- Beckman Coult...(Logo: a href'http://www.newscom.com/cgi-bin/prnh/20031202/BECLOGO'...The call may be accessed by dialing (877) 516-3365 or (706) 679-3246 a...The live call and webcast presentation will be accessible to all
...ORANGE COUNTY Calif. Oct. 26 /- Beckman Coult...The live webcast of Beckman Coulter's presentations can be accessed by...Beckman Coulter Inc. based in Orange County California develops m...(Logo: a