Beckman Coulter Announces Second Quarter 20...(e revenue and earnings growth. Within th...)

Despite these challenges, gross profit margin improved 30 basis points to 46.2% versus second quarter 2007. Operating income was $74 million. On an adjusted basis, operating income was $90.7 million, a 16% increase over comparable second quarter 2007 results. Significant adjustments to 2008 operating expense included restructuring charges related to supply chain site consolidations and the previously announced $12 million charge associated with licensing Hepatitis C intellectual property for molecular diagnostics.

Non-operating expense was $8.7 million versus non-operating income of $29.8 million in the prior year period. Prior year included a $40.6 million gain from the break-up fee associated with the termination of the Biosite acquisition agreement, and 2008 included a $1.2 million gain on the sale of vacant land in Miami. Excluding these items from both periods, second quarter 2008 non-operating expense was about flat with the prior year. Net earnings were $47.8 million or $0.74 per fully diluted share. Adjusted net earnings increased 20.1% to $57.4 million, or $0.89 per fully diluted share. In total, the flow cytometry acquisition reduced earnings per share by approximately $0.02 in the quarter.

Recent Developments

-- Declared a $0.17 per share quarterly cash dividend payable on August 15, 2008 to all stockholders of record on August 1, 2008, representing the company's 77th consecutive, quarterly dividend payout.

-- Re-purchased in the second quarter approximately one million shares of Beckman Coulter stock at an average price of $68.71 per share.

-- Announced the release of the AutoMate(TM) 600 Sample Processor, the latest member of our family of market leading Clinical Lab Automation products, a fully automated system designed to streamline pre- and post- anal
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