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Beckman Coulter Profit Slides

The stock declines.

Beckman Coulter


dropped 5% Friday after fourth-quarter earnings fell 70% from a year ago, hurt by restructuring and impairment charges.

The Fullerton, Calif., manufacturer of biomedical testing instruments and supplies made $17.8 million, or 28 cents a share, in the quarter, compared with $59.8 million, or 91 cents a share, a year ago. Adjusted for items, earnings were 73 cents a sharein the most recent quarter, a penny ahead of the Wall Street estimate.

Fourth-quarter revenue fell 5.4% from a year ago to $655.5 million. Analysts were expecting revenue of $668.5 million in the most recent quarter. Revenues were hurt by a faster than anticipated customer shift to operating-type leases. Revenue from worldwide consumables rose 12% in the most recent quarter.

The company expects first-quarter 2006 earnings, including about 5 cents of option-related expenses, to be 30 to 40 cents a share, on revenue of $555 million to $575 million. Earnings for the year 2006, including about 20 cents impact from option expenses, are estimated to be $2.70 a share to $2.90 a share, on revenue of $2.5 billion to $2.6 billion. Analysts were expecting first-quarter earnings of 64 cents a share on revenue of $582.1 million and full year 2006 earnings of $3.02 a share on revenue of $2.5 billion.

On Friday, Beckman Coulter fell $3 to $57.16.

This story was created through a joint venture between and IRIS.