Beckman Coulter Reports First Quarter 2011 Financial Results

Recently, diagnostic test and instrument company Beckman Coulter announced its first quarter 2011 financial results. The financial report shows that Beckman Coulter's first quarter results slightly climbed by about 2% compared with the same period last year.

In the first quarterly report submitted to the SEC by Beckman Coulter, Beckman Coulter’s revenue for the first three months ended March 31, 2011 was 895.4 million U.S. dollars, which was lower than Wall Street’s forecast of 905 million U.S. dollars. The United States dollar; the same period in 2010 was 881.1 million US dollars.

According to the financial report, Beckman’s medical diagnostics division’s revenue was 801.6 million US dollars, which was an increase of 3% compared with US$775.8 million in the same period of last year. Among them, the chemical and clinical laboratory automation business increased from 3230 million US dollars last year to 326.7 million US dollars; cell analysis business increased from 239.1 million US dollars last year to 248.2 million US dollars; immunoassay and molecular diagnostics business from last year's 213.7 million US dollars It increased to 226.7 million U.S. dollars.

The Beckman Coulter Life Sciences division’s business dropped from 115.3 million US dollars last year to 93.9 million US dollars, a decrease of 11 percentage points.

The company’s R&D spending dropped from US$70.1 million in the same period last year to US$61.50 million, a decrease of 12%, while sales and general affairs management expenses increased from US$222.9 million last year to US$243.1 million, an increase of 9%.

In addition, Beckman Coulter’s net profit for the quarter was $10.3 million ($0.14 per share), compared with $38.7 million ($0.54 per share) in the same period last year.

At the same time, Beckman Coulter also stated that the company began a conservative statement of the cost of sales of its inventory products in 2010, and made an earlier adjustment of US$14.1 million.

At the end of the quarter, Beckman Coulter’s cash and cash equivalents totaled 584.8 million U.S. dollars.