Beckman Coulter Announces Second Quarter 20...(sales growth ahead of expectations in th...)

Date:7/25/2008

sales growth, ahead of expectations in the first half, has led us to adjust our revenue and operating margin outlook for the year. Assuming stable currency, full year revenue growth should be in the range of 12% to 14%. We expect 2008 adjusted operating margin to be approximately 12%. The outlook for adjusted non-operating expense for the full year should be about $48 million. Adjusted pretax profit growth should be 12% to 15%, with a tax rate of approximately 29%. Consequently, our adjusted EPS outlook remains at $3.55 and $3.65 based on a share count of about 64.5 million. Adjusted EBITDA for the full year 2008 should be $610 to $630 million. Capital expenditures are expected to be $290 to $310 million, and depreciation and amortization should be between $240 and $260 million.

"As we look to the second half of 2008, we anticipate that the above market growth in Cellular Analysis will moderate due to the first half resolution of the backlog affecting Hematology and Flow Cytometry instrumentation. Further, growth in Life Sciences is expected to return to low single digits. These anticipated trends should contribute to a lower growth rate for the second half and a less instrument-intensive mix. Strong growth in Immunoassay as well as Chemistry and Clinical Automation should continue as new product introductions, such as the AutoMate 600 Sample Processor and three additional work cells, support positive momentum. Strong growth of total and recurring revenue along with the benefits of our lean six sigma program should enable us to meet our EPS objectives while funding investment in important high potential growth areas, such as molecular diagnostics, work cells, next generation cellular systems, new tests, technologies and emerging markets," Garrett concluded.

Investor Conference Call

As previously announced, there will be a conference call today, Friday, July 25, 2008 at 8:30 am ET to discuss the second quarter ended June 30, 2008 results. The ca
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SOURCE Beckman Coulter, Inc. Copyright©2008 PR Newswire. All rights reserved

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