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 developer, manufacturer and marketer of products that simplify, automate and innovate complex biomedical testing, has reported revenues of $902m for the second quarter of 2010, an increase of 19.2% when compared to prior year quarter, or 17.9% in constant currency. On a constant currency basis, recurring revenue increased 17.5%.
Subscribe to our email newsletter
Beckman’s clinical diagnostics revenues increased 21.5% in constant currency in the second quarter, due to Olympus and growth in Asia Pacific. The company has also posted operating income of $79.5m in the second quarter of 2010, for the comparable period in 2009. On an adjusted basis, operating income totaled $104m, an increase of 6.7% over prior year quarter.
For the first six months ended June 30, 2010, the company’s revenue has increased 23.1%, or 20.6% in constant currency, when compared to first half 2009 due primarily to the Olympus acquisition.
Beckman has posted operating income of $159.4m, for the first six months. On an adjusted basis, operating income grew to $207.6m, a 27% increase over prior year due largely to operating leverage from the Olympus acquisition.
Scott Garrett, chairman, president and chief executive officer, said: “High points in the second quarter included another strong contribution from the Olympus business, continued strength in Asia Pacific, 6% growth in International recurring revenue, solid instrument placements, and 28% growth in trailing twelve month adjusted EBITDA.
“At the same time, second quarter revenues, excluding Olympus, reflected continued softness in developed markets, only 1% growth in recurring revenue in the US, and difficult prior year comparisons. Earnings per share were lower than the year-ago quarter, which benefitted from a low tax rate due to discrete items and fewer shares outstanding.”