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Beckman Coulter Posts 5.8 Percent Rise in Q2 Revenues

NEW YORK, July 27 - Instrument maker Beckman Coulter of Fullerton, Calif., on Friday said second-quarter sales rose 5.8 percent to $496.4 million, compared with $469.4 million in the year-ago quarter.

The company noted, however, that unfavorable exchange rates due to a strong dollar weighed on revenues. In constant currency terms, overall second-quarter revenues rose 8.3 percent.

The company's life science research unit posted the biggest increase in revenues as sales jumped 9.4 percent to $112 million in the second quarter. Clinical diagnostic sales were up 4.7 percent to $384.4 million.

In a statement Beckman Coulter said that routine chemistry and robotic automation and genetic analysis systems were the best performers during the quarter.

Beckman Coulter also noted that the Americas continued to represent the biggest and fastest-growing market for its business. In the second quarter sales in the Americas rose 9.1 percent to $311.9 million, compared with $286 million in the year-ago period.

European sales were up 1.6 percent to $123.9 million. In constant currency terms sales were up 6.9 percent. Sales in Asia slipped 1.3 percent to $60.6 million due to the negative foreign currency impact. In constant terms sales were up 6.5 percent.

Beckman Coulter said second-quarter milestones included receiving FDA clearance for a 12-minute cardiac test as well as expanding its agreement with Promega to distribute additional nucleic acid purification products.

The company said it expects revenues to grow by eight percent in constant currency terms in the third quarter and net earnings to increase by 14 to 16 percent.

Beckman Coulter posted second quarter net earnings of $36.8 million, or 58 cents a diluted share, compared with $32.4 million, or 53 cents a diluted share, in the year ago period.

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