Beckman Coulter Announces Fourth Quarter and Full Year 2008 Results; Earnings Outlook Achieved on Strong Fu...(rted total revenue to be flat. We antic...)

Date:2/9/2009

rted total revenue to be flat. We anticipate that cash instrument sales in the current economic climate will slow, compared with the robust growth of cash instrument sales in the first half of 2008. However, solid recurring revenue growth is expected to continue," Garrett said.

"Operating margin is anticipated to be between 11.7% and 12%, after absorbing a significant currency head wind and a $25 million increase in pension expense. We are committed to zero overhead growth resulting in flat operating expense. At current exchange rates, non-operating expense should be around $22 million, due to expected gains on hedging contracts. Based on an estimated tax rate of 26% to 27% and a flat share count, earnings per fully diluted share should be between $3.85 and $4.05. The planned pacing of earnings growth is uneven, with as much as 65% of net earnings expected to come in the second half of the year, due to slowed growth of cash instrument sales and currency shifts in the first half. Capital expenditures are expected to be $350 to $375 million, and depreciation and amortization should be between $270 and $290 million.

"2009 will, no doubt, be a challenging year. However, we began to adjust our spend rate last summer when the U.S. Dollar strengthened dramatically. We believe we have identified and begun to implement changes necessary to deliver on our commitments. Solid trending of recurring revenue and positive cost management initiatives implemented in 2008 give us confidence that our 2009 goals are achievable," Garrett concluded.

Investor Conference Call

As previously announced, there will be a conference call today, Monday, February 9, 2009 at 5:00 pm ET to discuss the fourth quarter and full year ended December 31, 2008 results. The call will also be webcast live. The call is accessible to all investors through Beckman Coulter's website at

SOURCE Beckman Coulter - IR Copyright©2009 PR Newswire. All rights reserved

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