Beckman second quarter earnings grow 16 percent.FULLERTON Fullerton, city (1990 pop. 114,144), Orange co., S Calif., SE of Los Angeles; founded 1887, inc. 1904. The city is named for George H. Fullerton, head of a land company, who arranged to route the San Diego–Los Angeles–Santa Fe RR through the settlement in , Calif.--(BUSINESS WIRE)--July 22, 1996--Beckman Instruments Inc. (NYSE NYSE See: New York Stock Exchange :BEC) Monday Monday: see week. announced that second quarter 1996 earnings per share grew 16 percent to 65 cents from 56 cents in the prior year. Second quarter 1996 sales grew 15 percent to $265 million when compared to 1995, or 17 percent in constant currency. First half 1996 earnings per share grew 13 percent to $1.12 from $0.99 in the prior year. First half 1996 sales grew 12.5 percent to $490 million when compared to 1995, or 13.5 percent in constant currency. Beckman's market success is a direct reflection of its ability to focus on customer needs for better efficiency and improved productivity. Specifically, pharmaceutical and biotechnology companies Top 100 Biotechnology Companies The following is a list of the top 100 biotechnology companies ranked by revenue. The first nine companies qualify for the list of the top 50 pharmaceutical companies. want to accelerate drug discovery and reduce time-to-market, while hospital laboratories must reduce costs yet still provide full 24-hour services to meet physicians' demands. Recently introduced products for enhanced productivity include: -- SYNCHRON Delta Series of clinical analyzers for automation of the most frequently run chemistry test in hospital laboratories. -- Avanti Avanti Historic kingdom, north-central India. Located on the overland trade routes between northern and southern India, it lay within present-day Madhya Pradesh. Its capital was at Ujjayini (near present-day Ujjain). Series of high-performance Adj. 1. high-performance - modified to give superior performance; "a high-performance car" superior - of high or superior quality or performance; "superior wisdom derived from experience"; "superior math students" centrifuges that reduce processing time in both research and clinical applications. -- Biomek 2000 BioRobotics Biorobotics is a term that loosely covers the fields of cybernetics, bionics and even genetic engineering as a collective study. Biorobotics is often used to refer to a real subfield of robotics: studying how to make robots that emulate or simulate living biological workstation, which automates repetitive pipetting and dilution Dilution A reduction in earnings per share of common stock that occurs through the issuance of additional shares or the conversion of convertible securities. Notes: Adding to the number of shares outstanding reduces the value of holdings of existing shareholders. operations for pharmaceutical and biotechnology researchers. -- Flexsure H. pylori Noun 1. H. pylori - the type species of genus Heliobacter; produces urease and is associated with several gastroduodenal diseases (including gastritis and gastric ulcers and duodenal ulcers and other peptic ulcers) Heliobacter pylori test for physician office use that simplifies the diagnosis of most ulcer disease. In 1996, recent strategic alliances and acquisitions, including Hybritech, broadened the Company's product offerings, adding to the growth generated by Beckman-developed products. Louis Louis, titular duke of Burgundy Louis, 1682–1712, titular duke of Burgundy; grandson of King Louis XIV of France. He became heir to the throne on the death (1711) of his father, Louis the Great Dauphin. T. Rosso For information on a musical group by the same name, please see ROSSO (band) Rosso is the major city of south-western Mauritania and capital of Trarza region. It ia situated on the Senegal River at the head of year-round navigation. , chairman and chief executive officer, said: "Worldwide acceptance of products that improve efficiency and productivity has been the driver of Beckman's sales gains. By leveraging our core technologies in sample handling, centrifugation Centrifugation A mechanical method of separating immiscible liquids or solids from liquids by the application of centrifugal force. This force can be very great, and separations which proceed slowly by gravity can be speeded up enormously in centrifugal , robotics robotics, science and technology of general purpose, programmable machine systems. Contrary to the popular fiction image of robots as ambulatory machines of human appearance capable of performing almost any task, most robotic systems are anchored to fixed positions and systems design, Beckman Beckman or Beckmann may refer to:
Beckman Instruments is a registered ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9000 Quality Systems Company that develops, manufacturers and markets automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. systems and supplies used for biological analysis in laboratories for research, product development and clinical diagnostics (1) Software routines that test hardware components (memory, keyboard, disks, etc.). Diagnostics are often stored in ROM chips and activated on startup. (2) Error messages in a programmer's source code that refer to statements or syntax that the compiler or assembler . Beckman operates in more than 120 countries. -0-
BECKMAN INSTRUMENTS INC.
SECOND QUARTER REPORT
CONSOLIDATED STATEMENTS OF EARNINGS
(Dollars in Millions, Except Amounts Per Share)
Unaudited
Three Months Ended Six Months Ended
June 30, June 30,
1996 1995 1996 1995
Sales $265.2 $230.6 $490.0 $435.6
Operating costs and expenses:
Cost of sales 123.6 108.0 228.5 205.2
Selling, gen. & administrative 83.3 73.8 157.0 139.0
Research and development 27.3 22.0 52.0 44.1
Restructuring charge - 3.4 - 6.5
----- ----- ----- -----
234.2 207.2 437.5 394.8
Operating income 31.0 23.4 52.5 40.8
Non-operating income (expense):
Interest income 1.4 1.1 2.7 2.4
Interest expense (4.5) (3.0) (7.6) (5.8)
Other, net 0.4 (0.6) 1.2 (0.9)
(2.7) (2.5) (3.7) (4.3)
Earnings before income taxes 28.3 20.9 48.8 36.5
Income tax provision 9.3 7.1 16.1 12.4
Net earnings $ 19.0 $ 13.8 $ 32.7 $ 24.1 Weighted average common shares & common share equivalents -- (thousands) 29,034 28,674 29,147 28,749 Net earnings per share $ 0.65 $ 0.48 $ 1.12 $ 0.84 Dividends declared per share $ 0.13 $ 0.11 $ 0.26 $ 0.22
BECKMAN INSTRUMENTS INC.
EARNINGS RECONCILIATION
Unaudited
Quarter ended June 30,
1996 1995
Per Per
Amt Share Amt Share
----- ----- ----- -----
Net earnings before special charges $19.0 $0.65 $16.0 $0.56
Special charges Restructuring, net of tax benefit - - (2.2) (0.08) Net earnings $19.0 $0.65 $13.8 $0.48
Six Months ended June 30,
1996 1995
Per Per
Amt Share Amt Share
Net earnings before special charges $32.7 $1.12 $28.4 $0.99
Special charges Restructuring, net of tax benefit - - (4.3) (0.15) Net earnings $32.7 $1.12 $24.1 $0.84
BECKMAN INSTRUMENTS INC.
CONSOLIDATED BALANCE SHEETS
(Dollars in Millions)
Unaudited
June 30, December 31,
1996 1995
Assets
Current assets:
Cash and equivalents $ 10.7 $ 26.2
Short-term investments 9.8 8.2
Trade receivables and other 286.7 288.8
Inventories 197.3 166.2
Deferred income taxes 26.4 29.4
Other current assets 12.4 14.5
Total current assets 543.3 533.3
Property, plant and equipment, net 253.4 252.1 Deferred income taxes 62.3 59.8 Other assets 69.9 62.6
Total assets $ 928.9 $ 907.8
Liabilities and Stockholders' Equity
Current liabilities:
Notes payable $ 23.6 $ 15.8
Accounts payable and accrued
expenses 188.6 190.5
Income taxes 51.8 44.9
Total current liabilities 264.0 251.2
Long-term debt, less current
maturities 188.2 162.7
Other liabilities 124.9 146.0
Total liabilities 577.1 559.9
Stockholders' equity 351.8 347.9
Total liabilities and
stockholders' equity $ 928.9 $ 907.8
CONTACT: Beckman Instruments Inc., Fullerton Michael Michael, archangel Michael (mī`kəl) [Heb.,=who is like God?], archangel prominent in Christian, Jewish, and Muslim traditions. In the Bible and early Jewish literature, Michael is one of the angels of God's presence. J. Whelan (investors), 714/773-7620 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion