NEW YORK (GenomeWeb News) — Beckman Coulter today said fourth-quarter revenues increased 8.6 percent as R&D spending receded 2.7 percent and profit jumped 250 percent.
Total receipts for the three months ended Dec. 31, 2006, increased to $712 million from $655.5 million year over year.
Product-related revenue increased 8.1 percent to $104 million while service-related revenue was up 8.7 percent to $608 million.
R&D spending decreased slightly to $57.6 million from $59.2 million in the previous fourth quarter.
The company said profit increased to $62.3 million from $17.8 million in the year-ago period.
The company attributed the increase to smaller operating expenses. Specifically, in the fourth quarter in 2005 the company paid $32.9 million more in restructuring costs, had a $10.7 million “asset impairment” charge, and spent $11.4 million more in selling and administrative costs.
BC said it had around $75.2 million in cash and equivalents as of Dec. 31, 2006.
The company said it expects 2007 revenue to grow between 7 percent and 9 percent over 2006.