Dade Behring Holdings (DADE) on Wednesday reported in-line earnings and revenue above expectations for the third quarter.
The Deerfield, Ill.-based company, which makes diagnostic products for clinical laboratories, earned $28.9 million, or 33 cents a share, in the quarter, compared with $48.3 million, or 53 cents a share, a year ago. Analysts polled by Thomson First Call were expecting earnings of 33 cents a share in the most recent quarter.
Revenue for the latest quarter rose 5.7% from a year ago to $423.6 million. Analysts' expectations were for revenue of $421.6 million.
"The high-quality products and exceptional service we consistently provide clinical laboratory customers are the foundation of our strong revenue growth," the company said. "Dade Behring is well positioned operationally and financially in an attractive, growing industry that is critical to patient care and helps reduce overall health care costs."
By segment, third-quarter revenue from core chemistry products rose 5.5% from a year ago to $274.2 million, revenue from hemostasis products rose 9.6% to $76.7 million, and revenue from microbiology infectious disease products rose 4.3% to $43.8 million. Revenue from diagnostics rose 7.1% to $22.5 million.
Shares of the company were trading down $1.03, or 2.7%, to $36.97 Wednesday.
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