The IBO Laboratory Sales Index has been updated from the February 28 issue. For the fourth quarter of 2011, Index sales grew 7.8%, 7.4% excluding currency, to $6,374.87 million. Operating profit climbed 16.2% to $1,442.69, and operating margin rose 60 basis points to 20.5% of sales. For the full-year 2011, revenues grew 9.1%, 7.1% organically, to $23,455.94 million. Operating profit jumped 13.3% to $4,882.73 million, but operating margin slipped 20 basis points to 19.4% of sales.

For 2011, HORIBA Scientific Instruments & Systems (SI) sales improved 5.8%, 10% excluding currency, to ¥22,040 million ($276.5 million) to account for 18% of sales. Sales to Japan, Europe, Asia and the Americas improved 7.4%, 5.0%, 8.1% and 2.2% to make up 33%, 26%, 21% and 20% of SI sales, respectively. SI operating profit grew 28.0% to ¥1,433 million ($18.0 million).

HORIBA Process and Environmental Instruments & Systems (P&E) full-year sales grew 23.5%, 25% excluding currency, to ¥14,558 million ($182.6 million = ¥79.71 = $1) to account for 12% of revenues. Sales to Japan and Asia grew 42.0% and 0.9% to make up 72% and 11% of P&E sales, respectively. Sales to the Americas and Europe declined 28.2% and 0.8% to account for 6% and 11%, respectively. P&E operating profit jumped 189.3% to ¥2,532 million ($31.8 million).

For 2012, HORIBA SI sales are expected to slip 4.7% to ¥21,000 million ($280 million) due to currency, while SI operating income should increase 4.7% to ¥1,500 million ($20 million). HORIBA P&E sales and operating income are projected to decline 7.3% and 48.7% to ¥13,500 million ($180 million = ¥75 = $1) and ¥1,300 million ($17 million), respectively, as a result of lower demand for radiation-monitoring products. During 2011, the company established a Corporate & Segment Strategy Division. Other strategic measures included the reorganization of certain European and US facilities to control expenses.

Full-year 2011 Spectris Materials Analysis (MA) sales climbed 24.3%, 21% organically, to £337.5 million ($544.4 million = £0.62 = $1) to account for 31% of company sales. Acquisitions and currency added 3.2% and 0.4% to revenue growth, respectively. Revenue growth was due to strong demand for X-ray analysis systems from the metals, minerals and mining industry. Demand from mining customers was especially robust in Australia, South Africa and Brazil. Sales to the metals, minerals and mining industry made up roughly 37% of MA sales. Pharmaceutical sales showed good growth for both research and quality control. Academic sales were stable due to increased Empyrean X-ray system sales and government funding in Latin America and China. Academic and pharmaceutical sales accounted for roughly 29% and 34% of MA sales, respectively. Sales to Asia Pacific, Europe and North America grew 36.1%, 20.1% and 12.6% to account for 38%, 30% and 21% of MA revenues, respectively. Sales to Rest of the World expanded 23.3%. MA operating profit soared 53.8% to £60.9 million ($98.2 million). Adjusted operating margin rose 360 basis points to 18.1% due to product mix, volume and pricing. For 2012, mining and academic investments are expected to grow sales.