Beckman Coulter s Q1 Revenue Slides 1 Percent as Profit Jumps 27 Percent

NEW YORK, May 3 (GenomeWeb News) - Beckman Coulter today said revenues for the first quarter dipped slightly, while net income grew by over a quarter.

Beckman posted $560 million in revenues for the quarter ended March 31, a 1.2 percent decline from the $576 million the company earned in the same period of last year. The company attributed the decline to a change in instrument leasing policy.

Beckman said that it spent $55 million on R&D in the first quarter, compared to $48 million in the comparable period last year.

Net income for the quarter grew 27 percent to $41.4 million from $32.6 million in the year-ago period.

As of March 31, Beckman had $59 million in cash and cash equivalents.

Beckman said it expects second-quarter revenue to be between $620 million and $645 million, which would be improvements of between .3 percent and 4.4 percent above the $618.8 million the company posted for the second quarter last year.