Beckman’s profit up on sale of Agencourt stake
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Beckman Coulter Inc. said third-quarter profit jumped 31%, mainly on proceeds from the sale of its stake in Agencourt Bioscience Corp. in July and a legal settlement.
The Fullerton company earned $47.4 million, or 74 cents a share, compared with $36.2 million, or 56 cents, a year earlier.
Revenue rose 6% to $631.2 million.
Excluding the sale, the company’s profit would have slipped to 28 cents a share, as charges including a $27.5-million payment to Roche Diagnostic Corp. and a patent settlement with Applera Corp. added up.
Excluding all charges and gains, the company earned 66 cents a share -- in line with the average estimate of analysts polled by Thomson Financial.
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