Skip to main content
Premium Trial:

Request an Annual Quote

Beckman's Q1 Revenues Inch up 2 Percent

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Beckman Coulter today disclosed that its first-quarter revenues rose slightly under 2 percent year over year.

In its quarterly earnings document filed with the US Securities and Exchange Commission, the Brea, Calif.-based diagnostics test and instrument firm, which is in the process of being bought by Danaher, said that for the three months ended March 31, it took in $895.4 million, compared to $881.1 million during the first quarter of 2010.

The results were short of Wall Street estimates of $905 million.

Beckman's Clinical Diagnostics segment posted revenues of $801.6 million, up 3 percent from $775.8 million a year ago. Within the segment, revenues in the chemistry and clinical automation business inched up to $326.7 from $323 million a year ago, cellular analysis revenues rose to $248.2 million from $239.1 million, and immunoassay and molecular diagnostics revenues increased to $226.7 million from $213.7 million.

Revenues from Beckman's other segment, Life Science, dipped to $93.9 million, off 11 percent from $105.3 million a year ago.

The firm's R&D costs dropped 12 percent to $61.5 million from $70.1 million, while SG&A spending increased 9 percent to $243.1 million from $222.9 million.

Beckman posted net earnings of $10.3 million, or $.14 per share, down sharply from $38.7 million, or $.54 per share, a year ago.

The company said it recorded a $14.1 million out-of-period adjustment for an understatement of cost of sales associated with inventory originating primarily in 2010.

Beckman ended the quarter with $584.8 million in cash and cash equivalents.

The Scan

UK Pilot Study Suggests Digital Pathway May Expand BRCA Testing in Breast Cancer

A randomized pilot study in the Journal of Medical Genetics points to similar outcomes for breast cancer patients receiving germline BRCA testing through fully digital or partially digital testing pathways.

Survey Sees Genetic Literacy on the Rise, Though Further Education Needed

Survey participants appear to have higher genetic familiarity, knowledge, and skills compared to 2013, though 'room for improvement' remains, an AJHG paper finds.

Study Reveals Molecular, Clinical Features in Colorectal Cancer Cases Involving Multiple Primary Tumors

Researchers compare mismatch repair, microsatellite instability, and tumor mutation burden patterns in synchronous multiple- or single primary colorectal cancers.

FarGen Phase One Sequences Exomes of Nearly 500 From Faroe Islands

The analysis in the European Journal of Human Genetics finds few rare variants and limited geographic structure among Faroese individuals.