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Beckman Coulter Announces Third Quarter 2008 Results

tage, therefore, the cost was charged to R&D.

d) HCV sublicense -- During the second quarter of 2008, we entered into

an agreement with Siemens Healthcare Diagnostics and recorded an R&D

charge of $12 million, for sublicense rights relating to testing for

the hepatitis C virus (HCV). Under the agreement, we can develop,

manufacture and sell a quantitative viral load HCV blood test for

use on our molecular diagnostic instrument, which is in development.

e) Miami vacant land sale -- In 2007, we sold vacant land adjacent to

our Miami, Florida facility for $30.0 million, with an additional

$1.2 million held in escrow for a portion of the land for which

title was in dispute. During the second quarter 2008, we received

the remaining amount held in escrow of $1.2 million and recorded a

gain on sale in other non-operating income. The gain on sale of

$26.2 million was recorded in other non-operating income during the

quarter ended September 30, 2007.

f) Fair market value inventory adjustment -- During the first quarter

of 2008, in connection with our acquisition of the flow cytometry

business of Dako A/S, we recorded a $1.0 million charge related to

the fair value of acquired inventory sold in the first quarter.

g) Rental tax dispute -- In 1998, the Company entered into a sale-

leaseback transaction with Cardbeck Miami Trust ("Cardbeck") in

connection with the Company's Miami facility. In May 2005, Cardbeck

notified the Company that it had received an assessment from the

State of Florida in the amount of $4.4 million for rental tax,

interest and penalties related to payments made by the Company to

Cardbeck from June 2000 to February 2005. The State of Florida has

asserted that t

SOURCE Beckman Coulter, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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