Financials for the IBO Laboratory Sales Index have been updated from the figures in the February 28 issue. For the fourth quarter, Laboratory Sales Index revenues grew 5.8%, 6.7% excluding currency, to $5,888.37 million. Operating profits improved 11.2% to $1,238.15, but operating margins were unchanged at 19.9% of sales. For the year, sales grew 8.7%, 8.5% excluding currency, to $21,483.15 million. Operating profit jumped 17.3% to $4,311.66 million, and operating margins gained 120 basis points to 9.6% of sales.

Fourth-quarter sales for Harvard Bioscience grew 6.8% organically to $29.5 million. Acquisitions contributed 2.3% to revenue growth but were offset by currency. Adjusted operating income rose 1.2% to $3.7 million. Gross profit margins rose 130 basis points to 48.7% of sales. Full-year revenues increased 26.1%, 6.1% organically, to $85.8 million. Acquisitions added 21.5% to revenue growth, and currency reduced sales by 1.5%. Adjusted operating profit climbed 23.1% to $13.0 million. Gross profit margins declined 75 basis points to 47.9% of sales due to acquisitions. The company increased its short-term cash position by 20% to $19.7 million. In 2011, sales are expected to grow 4%–6% to $113–$115 million. First-quarter sales are forecast to increase 3% to $26–$28 million.

For the year, Horiba’s Analytical Instruments and Systems sales improved 0.3%, 4% excluding currency, to ¥32,613 million ($371.4 million = ¥87.80 = $1) (see page 12) to account for 28% of company sales. Revenue growth was negatively impacted by lower government spending in Japan. Sales to Asia and Japan grew 13.7% and 3.8% to make up 18% and 43% of segment sales, respectively. Sales to the Americas and Europe declined 0.3% and 13.4% to account for 17% and 22% of segment sales, respectively. Operating profit climbed 30.3% to ¥1,995 million ($22.7 million). Sales for the Scientific Instruments segment grew 1.6% to ¥20,825 million ($237.2 million), but operating profit declined 10.1% to ¥1,120 million ($12.8 million). Process & Environmental sales declined 2.0% to ¥11,787 million ($134.2 million), but operating profit soared 220.2% to ¥875 million ($10.0 million). For 2011, Scientific sales are anticipated to grow 1% to ¥21,000 million ($262.5 million), and Process & Environmental sales are forecast to grow 2% to ¥12,000 million ($150 million).

For the second half of the year, Spectris’s Materials Analysis (MA) sales grew 15.4%, 10% organically, to £152.3 million ($237.5 million = £0.64 = $1) (see page 12). Acquisitions and currency contributed 4% and 1% to revenue growth, respectively. Adjusted operating profit rose 13.2% to £25.7 million ($40.2 million). Full-year MA sales improved 9.5%, 5% organically, to £271.6 million ($417.8 million = £0.65 = $1) to account for 30% of company sales. Acquisitions and currency expanded sales growth by 3% and 1%, respectively. The metals, minerals and mining sector improved as the year progressed. Demand from pharmaceutical customers grew more than 40%. Aftersales services grew 15% to make up 31% of MA sales. Sales to the Americas, Asia and Rest of the World grew 29.2%, 18.7% and 1.5% account for 24%, 35% and 10% of MA sales, respectively. European sales fell 7.0%. MA operating profit increased 15.8% to £39.6 million ($60.9 million), and adjusted operating margins improved 160 basis points to 14.5% due to product mix, volume and pricing.