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Beckman Coulter Announces Third Quarter 2007 Results

ed, these items have been excluded in the "Adjusted Results" presentation of our operating results herein. These non-GAAP disclosures are as follows:

a) Supply Chain Relocation -- In January 2007, as part of the company's

previously announced strategic supply chain management initiative, the

company announced the closure of its manufacturing site in Palo Alto,

California and the relocation of those operations to Indianapolis,

Indiana. In connection with this closure and relocation, the company

recorded charges related to severance and other costs of $6.9 million

in the first quarter of 2007. In addition, during the quarter ended

June 30, 2007, the company announced the closure and relocation of

other manufacturing and distribution sites, mainly in the United

States. Total supply chain relocation charges for the three and nine

months ended September 30, 2007 were $3.0 million and $12.7 million,

respectively. Also, during the second quarter of 2007 the company

recorded related asset impairment charges of $0.8 million.

b) Miami Vacant Land Sale -- On July 30, 2007, the company sold vacant

land adjacent to its Miami, Florida facility for $30.0 million. An

additional $1.2 million remains in escrow for a portion of the land for

which title is in dispute. The company acquired the parcel of vacant

land as part of its 1997 acquisition of Coulter Corporation. The gain

on sale of $26.2 million was recorded in other non-operating income

during the quarter ended September 30, 2007.

c) Beckman Coulter Foundation -- Using proceeds from the Miami vacant land

sale the company made a $9 million contribution to establish and fund

the Beckman Coulter Foundation (the "Foundation"), during the quarter

ended September 30, 2007. The purpose of this non-profit Foundation is


SOURCE Beckman Coulter, Inc.
Copyright©2007 PR Newswire.
All rights reserved

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