Beckman Coulter Profit, Sales Up in 1st Quarter
Beckman Coulter Inc., Fullerton maker of medical instruments and other products, on Monday posted higher earnings and sales for the first quarter and said it expects double-digit earnings growth for the year.
Net income for the first three months totaled $21 million, or 70 cents a share, 23% higher than the $17.1 million, or 58 cents a share, reported the first quarter of 1999. Sales were up 7% to $434.4 million.
The company said it should be able to achieve earnings growth of about 13% for the year and a sales increase of 4% to 5%.
Analysts estimate that the company will earn $3.99 a share this year, according to a survey by First Call/Thomson Financial.
Last year, Beckman Coulter earned $33.5 million, or $1.14 a share, including charges, on sales of about $1.7 billion. Excluding charges, the company earned $1.52 a share.
The company’s stock, which has gained more than 26% this year, closed at $64.38, down 44 cents a share, on the New York Stock Exchange.
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