nNEW YORK, Jan. 30 (GenomeWeb News) - Beckman Coulter reported increased revenues and income today for the fourth quarter of 2003.
The company had increased revenues of $638.6 million, up from $595.5 million during the same period last year. Sales in the Biomedical Research sector accounted for $200.4 million of this, compared with $2.1 million the previous year.
R&D spending during the quarter grew to $54.9 million, from $45.7 million last year.
Net income increased to $70.4 million, or $1.14 per share, from $33.5 million, or $.54 per share, a year ago. Part of this increase is due to a $23 million litigation settlement Beckman received from Flextronics International.
As of Dec. 31, 2003, Beckman had cash and cash equivalents of $74.6 million.