Following newly reported financial information, IBO has updated quarterly sales and operating profit results for the Laboratory Sales Index that appeared in the November 15, 2013, issue. Third quarter 2013 Index sales grew 1.5%, 0.8% excluding currency, to $5,904 million. Operating profit climbed 2.7% to $1,206 million, and operating margin advanced 20 basis points to 19.0% of sales.

The financial information in the table expands on Agilent Technologies’ fiscal 2013 results provided in the November 30, 2013, issue, adding year-end information. Agilent Life Sciences and Diagnostics’ (LSD) fiscal full-year sales ending October 31, 2013, grew 16%, or 4% organically. The Dako acquisition (see IBO 5/31/12) contributed 13% to sales growth, while currency lowered sales growth by 1%. Organic sales were driven by LC, consumables and service revenues. By end-market, clinical sales were robust due to demand for genomics products. Diagnostics sales were also good, with strong sales from the reagent OEM business and for pathology products, including companion diagnostics tests. Sales to applied markets were flat, as higher demand for products from food and petrochemical customers in China and emerging markets was offset by lower environmental and forensics sales in the US and Europe. Academic and government sales were also weak; however, European demand stabilized toward the end of the fiscal year. Pharmaceutical and biotechnology markets were soft, but LC/MS sales to these customers in emerging markets were healthy. Including acquisitions, sales to Europe, the Americas and Asia Pacific (excluding Japan) grew 26%, 13% and 12%, respectively. Japanese sales declined 2% due to currency. LSD gross margin expanded 100 basis points to 54.3% of sales. Operating profit margin improved 160 basis points to 16.4% of segment sales due to the acquisition.

Agilent fiscal 2013 Chemical Analysis (CA) sales grew 4% excluding currency, led by demand for service and consumables. Instrument sales were mixed, as higher sales of inductively coupled plasma (ICP)–MS, ICP–optical emission spectrometry and atomic absorption systems were offset by lower demand for GC and GC/MS. However, GC/MS sales for food and environmental applications in emerging markets and for forensics in Europe were firm. Overall, food and forensics were the strongest end-markets, while sales to the chemical and energy markets grew at a modest rate. Despite growth in emerging markets, environmental sales were negatively impacted by lower government spending in mature markets. Other applied markets grew in the mid-single digits due to demand from pharmaceutical and biotech customers. The leading geographic markets were Brazil, China and India, for which sales each grew in double digits. Sales to the Americas and Europe grew 3% and 1%, respectively. Japanese sales declined 17% but were down only 2% on a currency-neutral basis. Sales to other Asia Pacific regions grew 8%. Gross margin advanced 30 basis points to 51.7% of CA sales due to lower overhead expenses and increased sales volume. As a result, adjusted CA operating margin improved 60 basis points to 22.3% of sales.

Analytik Jena fiscal fourth quarter 2013 revenues ending September 30, 2013, grew 3.5% to €26.4 million ($35.2 million = €0.75 = $1), benefiting primarily from the acquisition of UVP (see IBO 4/30/13). Excluding acquisitions, sales declined by roughly double digits due to weak Japanese sales, which were greatly impaired by regulatory changes for measuring radioactive cesium with X-ray fluorescence systems (XRF). As a result, Analytical Instrument (AI) revenue fell 8.2% to account for 55% of sales. Life Science (LS) revenue also declined organically due to weak demand in Japan and lower sales from the Biometra subsidiary. Including UVP, LS sales grew 28.2% to account for 39% of revenues. Analytik adjusted operating profit fell 87.1% to €0.2 million ($0.3 million) due to lower sales volume and acquisitions. AI adjusted operating loss was €0.2 million ($0.3 million), compared to a profit of €1.3 million ($1.6 million) a year ago. LS adjusted operating profit fell 19.2% to €0.5 million ($0.7 million).

For fiscal 2013, Analytik Jena sales grew 4.0% to €97.7 million ($128.6 million = €0.76 = $1) but declined on an organic basis due to weak demand in Japan. AI revenue declined 3.7% to account for 59% of sales due to lower XRF sales in Japan. Excluding Japanese revenue, AI sales expanded 5.1%, including strong growth in other parts of Asia. LS sales jumped 22.4% to make up 35% of sales as a result of the acquisition of UVP. Organic LS sales grew in the low single digits, led by higher sales of instruments and kits and new CyBio products. However, this was partially offset by weak sales in Japan and from Biometra.

Analytik fiscal 2013 sales in America jumped 44.1% due to the acquisition. Sales in Germany fell 1.8%, while sales in other European regions grew 7.0%. Sales in Asia and Rest of the World slipped 0.3% and 5.9%, respectively. Gross margin declined 200 basis points to 47.8% of sales. Adjusted operating profit stumbled 52.2% to €3.1 million ($4.1 million). AI adjusted operating profit fell 52.3% to €3.0 million ($3.9 million), while LS adjusted operating profit expanded 54.2% to €0.5 million ($0.6 million).

Based on Shimadzu’s November 18, 2013, presentation of fiscal half-year results, sales for Analytical and Measuring Instrument (AMI) ending September 30 grew 14.9% to ¥81.5 billion ($830.6 million = ¥98.15 = $1) to represent 59% of total revenues. Growth was driven by currency and chromatography sales, which climbed 23.9% to account for half of AMI revenue. Excluding currency, AMI sales grew in the low single digits.

Given the economic recovery and stimulus spending in Japan, regional sales improved 2.8% to account for 44% of segment sales. North American sales climbed 48.1%, or roughly 20% excluding currency, to make up 10% of AMI sales. European sales grew 34.0%, or roughly 7% excluding currency, to account for 10% of sales. Chinese sales climbed 17.3% to make up 20% of sales but declined slightly on a currency-neutral basis. Sales to Other Asia grew 13.7% to represent 10% but were roughly flat excluding currency. Sales to Other countries were strong, accounting for 6%.

Half-year AMI operating income jumped 87.5% to ¥8.2 billion ($83.5 million). For fiscal 2014, AMI revenue is estimated to grow 16.5%, or in the low single digits excluding currency, to ¥179.5 billion ($1,804 million = ¥99.50= $1). Operating income is expected to climb 63.7% to ¥20.7 billion ($208 million).