Beckman Coulter Inc. (NYSE:BEC) reduced its full-year guidance, again.
The Orange County, Calif.-based biomedical testing systems maker reported net earnings of $60 million, or 84 cents per diluted share, on revenue of $902 million during the three months ended June 30. That compares with net earnings of $61 million, or 94 cents per diluted share, on sales of $757 million during the same period last year.
Without $117 million in revenue from a recent Olympus Diagnostics acquisition, net earnings were $45 million or 63 cents per diluted share, off 27 percent and 33 percent, respectively.
Including the new revenues from Olympus, EPS still decreased 15 percent from the previous year’s Q2. The company reduced its full-year 2010 earnings outlook to between $3.90 and $4 per share, down from $4.30 to $4.50 per share.
The company’s shares fell from $59.90 to $47.26, or 21 percent, by the end of trading July 23, a day after the company announced the earnings.
It’s the second quarter in a row to prompt Beckman Coulter to lower its guidance, following a scaling back of its earnings guidance for the year after the first quarter due to a recall of its test for heart attacks and other cardiac events.
Beckman Coulter estimated in April that the recall — combined with changes in currency exchange rates — could trim its 2010 revenues by $50 million, to a new range of between $3.75 billion and $3.85 billion.
BEC is now forecasting revenues of $3.65 billion to $3.7 billion for the full year.