Beckman Profit Up Despite Charges for Restructuring

Beckman Instruments Inc. posted higher earnings and revenue last year, despite absorbing special charges from hundreds of layoffs and related items.

Beckman, having finished a corporate restructuring that it began in late 1993, is now “well prepared for 1996 and beyond,” said Louis T. Rosso, chairman and chief executive of the Fullerton-based maker of automated systems and supplies for laboratories.

The company eliminated 269 jobs in the last year, including about 100 in Orange County. Overall, it has cut 300 jobs in the county since the restructuring began, with half of the people taking early retirement.

The restructuring, involving the elimination of 1,000 jobs worldwide, cost the company $153.7 million in special charges over three years, officials said. The cuts will save it $48 million annually, they said.

Net income in 1995 rose nearly 16% to $48.9 million, or $1.70 a share, from $42.2 million, or $1.50 a share, in the previous year. Special charges reduced the 1995 profit by $17.2 million, the company said. Sales climbed nearly 5% to $930.1 million from $888.6 million.

Fourth-quarter profit declined 17.5% after special charges, totaling $10.9 million, or 38 cents a share, compared to $13.2 million, or 47 cents a share, in the same period a year ago. Revenue rose 6% to $264.6 million from $250 million.

Rosso also noted steps the company took in the last year to improve its sluggish sales growth. Among others, it purchased Hybritech Inc., a San Diego-based maker of diagnostic tests, from Eli Lilly, and acquired Genomyx Inc., a Foster City marketer of products used in genetic sequencing.