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ORANGE COUNTY EARNINGS

Beckman Coulter Posts $8.4-Million 1st-Quarter Loss

April 21, 1998|Barbara Marsh

FULLERTON — Beckman Coulter Inc., the newly named company resulting from Beckman Instruments Inc.'s recent acquisition of Coulter Corp., blamed a first-quarter loss of $8.4 million on charges stemming from the acquisition.

The Fullerton maker of lab instruments and related items used in life sciences lost 30 cents a share, compared with a profit of $15.6 million, or 54 cents a year, for last year's first three months.

Quarterly revenue, including Coulter's results, totaled $399 million in the recent quarter, up 79% from $231.9 million last year. Sales were hurt by the stronger U.S. dollar in foreign exchange markets: The value of overseas sales fell about 5% when converted into U.S. currency.

The company took a charge of about $6 million, or 14 cents a share, for an acquisition-related markup on the value of Coulter inventory it sold. Other charges resulted from the elimination of 600 positions worldwide--none in Orange County--the closing of Coulter's factory in England and the integration of systems.

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