Today's Health Winners and Losers
Shares of Beckman Coulter (BEC) were among the health-related losers Friday, falling 5% after the maker of biomedical testing instruments posted mixed fourth-quarter results and issued lower-than-expected first-quarter guidance.
In the fourth quarter, the company earned $17.8 million, or 28 cents a share, on sales of $655.5 million. Excluding items, the company earned $46.9 million, or 73 cents a share. Analysts polled by Thomson First Call expected a lower profit of 72 cents a share, but higher sales of $668.6 million. During the year-earlier period, the company earned $59.8 million, or 91 cents a share, on sales of $693 million.
Looking ahead, Beckman Coulter sees first-quarter earnings of 30 cents to 40 cents a share, including stock-based compensation costs of 5 cents a share. Analysts project earnings, excluding stock-based compensation costs, of 64 cents a share. The company predicts sales of $555 million to $575 million, below analysts' target of $582.1 million. For 2006, Beckman Coulter continues to see earnings of $2.70 to $2.90 a share, including stock-based compensation costs of about 20 cents a share, on sales of $2.53 billion to $2.6 billion. Analysts project earnings, excluding stock-based compensation costs, of $3.02 a share on sales of $2.56 billion. Shares were trading down $3.25 to $56.91.
American Pharmaceutical Partners (APPX) rose 3% after the drugmaker posted fourth-quarter earnings that topped forecasts. The company earned $23.4 million, or 32 cents a share, on sales of $144.8 million. Excluding items, the company earned $28.2 million, or 38 cents a share. Analysts expected earnings of 35 cents a share, before items. A year earlier, the company earned $21.9 million, or 30 cents a share, on sales of $122.6 million. Shares were trading up $1.02 to $32.63.Shares of NuVasive (NUVA) fell 2.5% after a lower-than-expected sales guidance overshadowed fourth-quarter results that topped expectations. The medical device company posted a fourth-quarter loss of $4.2 million, or 17 cents a share, on sales of $18.6 million. Excluding items, the company reported a loss of $3.4 million, or 14 cents a share. Analysts expected a loss of 15 cents a share, before items, on sales of $18.3 million. During the year-earlier quarter, the company recorded an adjusted loss of $1.9 million, or 8 cents a share, on sales of $11.8 million.
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