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Beckman Coulter Announces Third Quarter 2007 Results
Date:10/30/2007

enue from clinical diagnostics products increased 9.4% over prior year quarter, or 7.5% in constant currency. Within clinical diagnostics, Immunoassay was up 28%, Chemistry increased 6%, and Cellular was flat. Clinical Automation systems revenue grew more than 40% over prior year quarter indicating continued strong demand for the company's industry-leading laboratory systems that automate hospital laboratories, improving productivity and patient safety while reducing skilled labor requirements.

Markets for the company's life science products continued to be soft in most geographies. Compared to third quarter 2006, sales of life science products declined 8.6%, or 10.5% in constant currency.

The company's consumables sales grew 8.7%, or 6.8% in constant currency. The fourth quarter 2006 acquisition of Lumigen, Inc. contributed 1.7% to this growth. Access Immunoassay consumables grew nearly 23%. Recurring revenue, comprised of supplies, test kits, service revenue and operating-type lease payments, was 79.9% of total revenue, compared to 76.6% in third quarter 2006.

Scott Garrett, president and chief executive officer, said, "Beckman Coulter's broad product offering continues to be attractive to our clinical diagnostics customers as they deal with labor shortages, requirements for faster turn-around times, and the continuing growth of their outpatient and outreach testing. Demand for our immunoassay systems continues on a strong pace and placements of our UniCel(R) DxC 600i chemistry / immunoassay work cells nearly doubled in the quarter.

"Although we continued to experience strong demand for our industry-leading clinical systems, total revenue in the third quarter was lower than anticipated due primarily to two items. First, worldwide life science markets were generally soft. Academic research funding is down in many major markets. Second, sales of Cellular products were constrained by a short-term supply disruption caused by the consolidation o
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SOURCE Beckman Coulter, Inc.
Copyright©2007 PR Newswire.
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