Summary
Beckman Coulter reported strong 3Q revenue growth of 8% compared to 3Q 08. Clinical diagnostics led the way, while cash instrument, cellular analysis and life science segment sales declined.
Analysis
Beckman Coulter reported strong 3Q revenues of $822.8 million, which was an 8% increase, compared to 3Q 08 and 12% on a constant currency basis.
The growth leadership was found in the clinical diagnostics business, which rose 12%. Standout segments included clinical chemistry and automation sales which rose 28%, followed by immunoassay and molecular diagnostics sales, which rose 9%. Holding back even better performance were the life sciences and cellular analysis businesses, which declined 9% and 2% respectively.
Beckman Coulter's clinical diagnostics 3Q growth is impressive, considering that the annual In Vitro Diagnostics (IVD) market growth is 5-6% according to leading experts. Weak cash instrument and life science sales reflect the continued, tough economic conditions and budgetary constraints.
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