Beckman Coulter Announces Second Quarter 20...(d in the second quarter led by remarkabl...)

Date:7/25/2008

d in the second quarter, led by remarkable gains in Clinical Diagnostics. Our first half trends and momentum maintain our confidence that near and long-term goals are achievable. The Clinical Diagnostics' growth includes substantial cash instrument sales and sustained double-digit recurring revenue increases. Recurring revenue is the foundation for predictable progress in earnings and cash flow. Strength within Clinical Diagnostics was broad-based. Growth at two to three times the market rate in each of Chemistry, Immunoassay and Cellular Analysis product areas signals the continued strength of our position and the building momentum of our unmatched product offering."

Recurring revenue comprised of supplies, test kits, service, royalty revenue and operating-type lease payments, continued its steady performance increasing more than 13%. Clinical Diagnostics' recurring revenue increased 14.1% over prior year quarter, led by Access-family Immunoassay growth of more than 20%. Total company cash instrument sales increased 25%; continued strength in emerging markets, sales in Chemistry and Clinical Automation and a reduction of the Cellular Analysis backlog were the big contributors to cash instrument sales growth.

On a geographic basis, second quarter revenue in the United States increased 8.2%. In constant currency, International revenue grew 14.5%, driven by an increase of more than 30% in China and strength in other emerging markets.

Garrett said, "We continued to make great progress in the second quarter extending our installed base and emerging markets' position with placements of new systems. Accelerated penetration of Clinical Lab Automation also contributed to the rapid growth of cash instrument sales. While expansion of our installed base, particularly outside the U.S., is unfavorable in the short-term from a mix and gross margin perspective, the associated recurring revenue in future periods positions the company for reliable and sustainabl
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SOURCE Beckman Coulter, Inc. Copyright©2008 PR Newswire. All rights reserved

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