Financials for the IBO Laboratory Sales Index have been updated from the numbers that appeared in the February 28 issue now that all the companies in the Index, except for Oxford Instruments, have reported calendar-year fourth-quarter and year-end results. For the fourth quarter, Laboratory Sales Index sales grew 6.9% to $4,985.89 million, including 5.1% growth from currency transactions. Operating profits jumped 11.9% to $940.11 million. Operating margins gained 80 basis points to 18.9% of sales. For the year, revenues declined 3.3% to $17,746.15 million, including a loss of 1.5% from currency. Operating profit slipped 0.9% to $3,112.38 million, while operating margins gained 40 basis points to 17.5% of sales.

Analytik Jena’s fiscal first-quarter sales (ended December 31) grew 25.7% to €21.6 million ($31.7 million = €0.68 = $1), including 19.8% growth from acquisitions. Despite strong demand from Asia, Analytical Instrument revenue declined 9.1% to €12.4 million ($18.2 million) primarily due to a strong year-over-year comparison. Optic sales dropped 50.6% to €1.1 million ($1.6 million) due to lower consumer spending and competitive pricing. Life Science revenue jumped nearly five fold to €8.1 million ($11.9 million), including €3.4 million ($5.0 million) in sales from acquisitions. Excluding acquisitions, Life Science sales grew 30.8%, driven by product introductions, including an H1N1 influenza test. Company sales in Germany rose 54.9%, 14.7% excluding acquisitions, to account for 40% of revenues. Sales to Asia, America and other European countries climbed 6.1%, 37.4% and 19.1% to account for 26%, 37% and 26% of revenues, respectively. The company’s operating profit for the period declined 14.5% to €1.9 million ($2.8 million), and gross margins fell 90 basis points to 49.4% of sales. For fiscal 2010, Analytik Jena anticipates revenue growth of 12%–13% to €80 million ($110 million).

Fourth-quarter sales for Harvard Bioscience jumped 20.0% (see page 12), but declined 8.5% organically, to $27.7 million due to a strong year-over-year comparison. Acquisitions and currency contributed 24.5% and 3.9% to revenue growth, respectively. Excluding the acquisition of Denville (see IBO 9/15/09), orders rose 27% sequentially. Adjusted operating income fell 8.9% to $3.7 million, while gross profit margins fell 306 basis points to 47.4% of sales. Full-year revenues declined 2.6%, 5.8% organically, to $85.8 million. Currency reduced revenue growth by 5.4%, and acquisitions contributed 8.6% growth. Sales to the US grew 18.5% to account for 48% of revenues, while sales to the UK and the rest of the world declined 13.0% and 21.1% to make up 31% and 20%, respectively. Full-year adjusted operating profit fell 15.2% to $10.6 million due lower sales volume and investments in sales and marketing, and R&D. Gross profit margins increased 72 basis points to 48.6% of sales as manufacturing efficiencies improved. Including acquisitions, 2010 revenues are forecasted to grow 27%–30% to $109–$112 million. First-quarter revenues are expected to increase 31%–41% to $25–$27 million.

For the fourth quarter, Horiba’s Analytical Instruments and Systems (AIS) sales declined 4.1% to ¥9,776 million ($108.9 million = ¥89.79 = $1) to account for 31% of company sales. However, orders jumped 54.0% to ¥9,101 million ($101.4 million). AIS operating income climbed 59.8% to ¥767 million ($8.5 million). For the year, AIS sales fell 15.6% to ¥32,525 million ($347.5 million = ¥93.61 = $1) to account for 31% of company sales. Sales were negatively impacted by currency transactions and lower demand for environmental analytical instruments and systems. Sales to Japan, Asia, the Americas and Europe each declined in double digits. AIS operating profit fell 16.8% to ¥1,519 million ($16.2 million), while operating margins slipped only 7 basis points to 4.7% of sales. Full-year 2010 AIS sales are anticipated to grow 8% to ¥35,000 million ($373.9 million).

OI’s fourth-quarter revenues dropped 20.8% to $5.5 million, and operating profit fell 26.8% to $0.4 million (see page 12). For the year, sales contracted 31.3% to $19.9 million, including declines in the Laboratory Product and Air-Monitoring Systems revenues, which represented 75% and 25% of sales, respectively. Sales of GC systems recorded the largest decline because of purchase delays, while sales of automated chemistry analyzers and GC detectors sustained the smallest declines. Overall, product and service revenues fell 34.3% and 9.6% to account for 84% and 16% of sales, respectively. US and international sales fell 35.7% and 20.7% to account for 66% and 34% of sales, respectively. Sales to Europe and Latin America declined 31% and 42%, respectively, while Asian sales were flat. Despite significant cost reductions, the company recorded an operating loss of $0.1 million, compared to a profit of $1.5 million a year ago. Gross profit margins slipped 10 basis points to 49.2% of sales.

SDIX’s (formerly Strategic Diagnostics) fourth-quarter revenues declined 11.7% to $6.2 million (see page 12), including a 21.1% decline in sales of Life Science products, which accounted for 48% of revenues. Kit revenues rebounded, improving 6.7% to make up 52% of revenues, driven by sales of Food Pathogen, and Water and Environmental products, which grew 8% and 10% to $1.4 million and $1.1 million, respectively. Sales of Ag-GMO product revenue were flat at $0.7 million. Quarterly operating loss narrowed to $0.2 million, compared to a loss of $4.7 million a year ago due to lower selling, general and administrative expenses. Gross margins fell 260 basis points to 51.4% of sales.

Full-year revenues for SDIX slipped 1.8% to $27.2 million due to a 6.6% decline in Kit revenue, which represented 47% of company revenues. Sales of Ag-GMO, and Water and Environmental kit products fell 18% and 7% to $2.4 million and $4.8 million, respectively. Food Pathogen kit revenue was flat at $5.5 million due to a strong year-over-year comparison and downturn in the food industry. Life Science revenue grew 3.6% to account for 53% of sales, including 10% and 8% revenue growth of bulk antibody and Genomic Antibody Technology–related products, respectively. This growth was partially offset by a 4% decline in sales of custom monoclonal products. US sales fell 4.8% to make up 73% of revenues, while sales to the rest of world grew 7.2% to account for 27%. Annual operating loss narrowed to $1.7 million, compared to a loss of $7.6 million a year ago. Gross margins improved 160 basis points to 54.3% of sales due to a favorable product mix and lower operating expenses.