Matt Miksic
Matt Miksic
bulk downside driven general gross higher lower margins offset tax
The bulk of the downside was driven by lower revenues, lower gross margins and higher (selling, general and administrative expenses), which was partially offset by a lower tax rate.
arms environment faces indicate management negatively results tougher
The disappointing fourth-quarter results indicate to us that, like its peers, Beckman Coulter faces a tougher environment and management does not yet have its arms around the one-offs that have been negatively impacting its margins.
again benefits cost management overly plant potential pushing suspect viewed
The plant closings and consolidation make sense to us and should be viewed favorably by investors. We suspect that management is once again being overly conservative in pushing the potential cost benefits out to 2008.