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Beckman Coulter Targets Mid-Teens Earnings Growth In 2010

By Jon Kamp Of DOW JONES NEWSWIRES Biomedical test-maker Beckman Coulter Inc. (BEC) expects its earnings to grow in a mid-teens percentage range next year, thanks in part to August's $800 million acquisition of Olympus Corp.'s (OCPNY) diagnostic systems business. The company issued some preliminary forecasts for the coming new year during its annual business meeting Thursday. Chief Executive Scott Garrett highlighted long-term goals of growing recurring revenue by 7% to 9% per year while growing earnings 9% to 12%. The recurring revenue outlook is a little lower for this year and next due to the temporary effects of the economic downturn, said Beckman, which reiterated its guidance for 2009. On the top line, the company sees 2010 recurring revenue rising about 7% and cash instrument revenue, the area hurt by the economic downturn, growing in a low to mid single-digit percentage range. The sales-growth projections exclude any impact from currency rates, and the 2010 forecast excludes the Olympus business, which is seen contributing $480 million to $500 million. The company's preliminary earnings forecast, which is adjusted and doesn't include intangible amortization associated with the Olympus deal, calls for earnings in a range of $4.40 to $4.55 per share next year. Shares of the Orange County, Calif., company were recently unchanged in after-hours trading after slipping 1.3% to $65.74 during Thursday's regular trading session. -By Jon Kamp, Dow Jones Newswires; 617-654-6728; jon.kamp@dowjones.com

Stock News for Beckman Coulter (BEC)
DateTimeHeadline
06/28/201113:48:41CORRECT:Danaher In Market With Offering To Help Fund Acquisition
06/17/201104:07:36EU Clears US Technology Firm Danaher To Buy Beckman Coulter
04/18/201111:54:16Beckman Coulter Delays FDA Filings For Key Heart Test To 3Q
02/25/201112:38:49PerkinElmer Isn't For Sale, CEO Says; Shares Slide
02/24/201111:44:18PerkinElmer, After Beckman-Bid Loss, Is Mulling Deals -Bloomberg
02/07/201116:48:21Beckman Deal Moves Danaher Deeper Into Technology Sector
02/07/201108:14:50Danaher Agrees To Acquire Beckman Coulter For $5.87 Billion
01/28/201114:25:16KKR Said To Drop Out Of Beckman Coulter Bid Group -Bloomberg
07/06/201015:19:05FDA Warns Beckman Coulter On Marketing Of "AccuTnI" Heart Test
05/14/201009:52:56Beckman Coulter Expects First Half 2011 Troponin Filing
12/17/200917:11:22Beckman Coulter Targets Mid-Teens Earnings Growth In 2010

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