in accordance with applicable state laws and requested Cardbeck to
pay this assessment. During June 2007, Cardbeck and the Company
subsequently entered into a settlement of the assessment under which
the Company paid $2.4 million ($1.6 million in sales tax and $0.8
million in interest) which was accrued at June 30, 2007. The
Company also has taken steps to obtain a determination that its
payments to Cardbeck are not subject to the rental tax.
h) 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 contribution was
classified under other non-operating expenses.
i) Biosite break-up fee -- On May 17, 2007, the merger agreement to
acquire Biosite, Inc. was terminated by Biosite in accordance with
its terms. Pursuant to the terms of the agreement, Biosite paid the
Company a break up fee of $54 million. The Company recorded a gain
of $40.6 million (net of associated expenses of $13.4 million) in
other non-operating income during the second quarter 2007.
j) Agencourt Personal Genomics ("APG") -- In 2006, the company sold its
non-controlling interest in APG. The company received approximately
$50 million in cash and recognized a gain from the sale. This gain
and the company's share of APG's operating results were included in
discontinued operations. In connection with the sale an additional
$6 million was held in escrow. In July 2007, pursuant to the terms
of the sale agreement, the company received its $2.6 million
|SOURCE Beckman Coulter, Inc.|
Copyright©2008 PR Newswire.
All rights reserved