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Beckman Coulter Announces First Quarter 2008 Results
Date:4/30/2008

nces customers grew well above market at double-digit rates. Revenue mix favored lower-margin instrumentation and emerging markets. Although the heavy sales of instrumentation is unfavorable in the short-term from a mix and margin perspective, the anticipated recurring revenue supports achievement of our growth and earnings goals. We also made significant progress integrating our recent flow cytometry acquisition and funded key development programs."

Total revenue from clinical diagnostics customers increased 19.2% over prior year quarter, or 14.8% in constant currency. Within Clinical Diagnostics, Immunoassay was up more than 23% and autochemistry was up 16%. Cellular was up more than 19%, with the flow cytometry products acquired from Dako contributing 3.1% to this growth. Clinical automation continued its momentum in the market growing almost 28% in the quarter. (See Revenue by Segment summary. Segments have been realigned to provide more visibility of Clinical Diagnostics and Life Sciences businesses.)

Revenue from life sciences customers increased 18.3% when compared to prior year, or 12.8% in constant currency. Increased demand in centrifugation and life sciences automation contributed to this growth, each up over 20%.

Recurring revenue continued its steady growth, increasing nearly 13% to $574.9 million, or 78.7% of total revenue. Above-market growth in Immunoassay continued with recurring revenue in Access-family Immunoassay up 22.4%, or 17.5% in constant currency.

Cash instrument sales were up considerably in the period, increasing $51.7 million over prior year quarter. China, India and emerging markets, where instrument sales doubled in the period, contributed to this increase. Heightened instrument sales in Cellular, up 50% in the quarter, were driven in part by an increase in production, helping the company to overcome a previously disclosed supply chain disruption. Life Sciences instrument revenue increased 29% compared to a
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SOURCE Beckman Coulter, Inc.
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