Beckman Coulter Reduces Sales Outlook for Research Products
Beckman Coulter CFO Charles P. Slacik stated on the conference call that Life Sciences revenue is estimated to decline in low single digits this year. Last year, Life Sciences sales declined 6.9% (see IBO 3/15/10). Life Sciences products include centrifugation, automation and capillary electrophoresis systems, and consumables.
Brea, CA 7/22/10—On its conference call discussing second-quarter results, Beckman Coulter announced that it has reduced its outlook for 2010 Life Sciences revenues by $30–$40 million. The company stated it has revised its expectations for the business due to less-than-expected stimulus-related sales and reduced spending by pharmaceutical companies due to consolidation activities. The revised outlook for Life Sciences reduces expected 2010 EPS by $0.15–$0.20. Due to the reduced Life Sciences sales, delays in cellular product launches, a stronger US dollar, and compliance and quality issues related to the recall of its troponin diagnostic test, Beckman Coulter has revised its 2010 EPS guidance from $4.30–$4.50 to $3.90–$4.00. The company’s revenue forecast for 2010 has been cut from $3.75–$3.85 billion to $3.65–$3.70 billion.
