Beckman Instruments, the Fullerton maker of scientific and medical diagnostic laboratory equipment, reported slightly higher net earnings for its third quarter this year over last, despite softness worldwide in the life sciences market.
Beckman posted net earnings of $9.4 million for the quarter ended Sept. 30, compared to net earnings of $9.3 million for the quarter in 1988; sales for the period, however, fell 2%, to $186.7 million from $190.3 million.
The company said it had been able to bolster earnings by cutting sales and administrative expenses. Beckman initiated a 150-worker reduction during the period that should be completed by the end of the year.
The company also said its interest expense for the third quarter was lower than for the period a year ago, when it borrowed money to finance its spinoff, done early this year, from SmithKline Beckman Inc.