Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.Beckman Coulter, a manufacturer and marketer of biomedical testing instrument systems, tests and supplies, has reported net earnings of $20.6 million, or $0.32 per diluted share, for the first quarter of 2009, compared to $40.9 million, or $0.63 per diluted share, for the same period of 2008.
Subscribe to our email newsletter
The company reported total revenues of $691.5 million for the quarter ended March 31, 2009, a decrease of 5.3%, compared to $730.5 million for the quarter ended March 31, 2008.
Scott Garrett, chairman, president and CEO of Beckman Coulter, said: “Approximately 80% of our revenue is recurring, which continued to grow at 5% on a constant currency basis giving us confidence that we will achieve our full year earnings goals. Within the quarter, an increase in pension expense, legal settlements and a strengthening dollar were offset by effective currency hedging, a favorable product mix and determined expense management.
“Despite a difficult operating environment which constrained top-line growth, adjusted net earnings per fully diluted share grew over 9%, adjusted EBITDA increased 13% and operating cash flow was $106 million, up $44 million.”