Beckman Coulter Profit, Sales Up in 1st Quarter
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Beckman Coulter Inc., Fullerton maker of medical instruments and other products, on Monday posted higher earnings and sales for the first quarter and said it expects double-digit earnings growth for the year.
Net income for the first three months totaled $21 million, or 70 cents a share, 23% higher than the $17.1 million, or 58 cents a share, reported the first quarter of 1999. Sales were up 7% to $434.4 million.
The company said it should be able to achieve earnings growth of about 13% for the year and a sales increase of 4% to 5%.
Analysts estimate that the company will earn $3.99 a share this year, according to a survey by First Call/Thomson Financial.
Last year, Beckman Coulter earned $33.5 million, or $1.14 a share, including charges, on sales of about $1.7 billion. Excluding charges, the company earned $1.52 a share.
The company’s stock, which has gained more than 26% this year, closed at $64.38, down 44 cents a share, on the New York Stock Exchange.
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