Purchase hits earnings.

Iris international saw its share price fall about 10 percent after announcing that it would purchase Leucadia Leucadia can refer to:

Lefkada (Λευκάδα), a Greek island in the Ionian Sea.
Leucadia National Corporation, a holding company based in New York City.
Leucadia State Beach, a protected beach in California.

Technologies. The purchase, the company said, will likely reduce its earnings by about $0.06 per share. Iris now expects earnings of $0.45 per share on revenue between $72 million and $76 million.

Last week the company announced it was purchasing Leucadia, a molecular 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 company for $10.1 million. Iris will pay $3.1 million in cash and $7 million in the company's stock as it moves Leucadia into its new molecular diagnostic division. Iris plans to increase spending to 13 percent of revenue because of the cost.

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Title Annotation:	Public Companies; Iris international shares fall after announcement of acquisition
Author:	Colburn, Jonathan D.
Publication:	San Fernando Valley Business Journal
Geographic Code:	1USA
Date:	Apr 10, 2006
Words:	107
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Topics:	Medical equipment and supplies industry Mergers, acquisitions and divestments Securities Medical equipment industry Mergers, acquisitions and divestments Securities Medical test kit industry Mergers, acquisitions and divestments Securities

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