Note: This article has been updated based on comments from the conference call discussing the company's financial performance.According to Danaher's 10-Q form filed with the U.S. Securities and Exchange Commission, revenue from the company’s Life Sciences segment increased from $1.71 billion in the first quarter of 2023 to $1.75 billion in the first quarter of 2024.IncreaseLongBy 2%Core business revenue decreased by 3%, and the decline in instrument business revenue was in the single digits.Blair pointed out that the revenue growth of the genomic consumables business was in the low single-digit range. He added that the double-digit revenue growth in the plasmid and protein businesses was partially offset by declines in the next-generation sequencing and gene writing and editing solutions businesses.At the same time, revenue from the diagnostics business rose to $2.38 billion from a year agoIncreased by nearly 7%, reaching 2.53 billion US dollars. Danaher stated in its 10-Q form that the core sales of the company's molecular diagnostics business also increased due to the increase in sales of respiratory and non-respiratory disease testing. Blair pointed out that Beckman Coulter Diagnostics achieved "steady growth" in both instruments and consumables, and achieved better wins and retention rates across the entire product portfolio.Cepheid's core revenue grew by double digits, and Blair said he believes the company's market share will continue to expand in the first quarter. Blair added,Breath testing revenue totaled approximately $675 million this quarter, surpassing the expected $575 million, thanks to higher sales volumes and the favorable combination of Cepheid's 4-in-1 respiratory test panel.Danaher expects that by 2024, the revenue from respiratory testing will reachApproximately USD 1.6 billion。Blair pointed out,CepheidThe global installed base has grown toMore than 55,000 instruments, more than tripling since 2019. He said that the team had adopted a "thoughtful approach to offering the system to customers with clinical samples outside of the epidemic," and "continued to promote the utilization of multiple menus." In the first quarter,The growth rates of Group A Streptococcus and sexual health-related tests have both exceeded 40%.Moreover, Blair said that many institutions are resuming testing protocols that were paused during the COVID-19 pandemic, leading to an increase in revenue from hospital-acquired infection testing.Danaher CFO Matt McGrew noted that the fourth quarter and first quarter are typically the highest sales quarters for Cepheid due to the respiratory season in the Northern Hemisphere.and indicated that Danaher expects respiratory testing revenue to drop to approximately $200 million in the second quarter of 2024.The biotechnology division's revenue of the company decreased from $1.86 billion in the same period last year to$1.52 billion in the first quarter of 2024, down 18%Danaher stated in its filing with the U.S. Securities and Exchange Commission that the decline was due to a drop in core sales within its bioprocessing business and the impact of currency exchange rates. Core revenue in this segment fell by 17%, with bioprocessing down by more than 10% and discovery and medical down by approximately 20%.The company's net profit for the most recent quarter was $1.09 billion, or $1.45 per share, compared to $1.45 billion, or $1.94 per share, in the first quarter of 2023.Non-GAAP earnings per share were $1.92 in the first quarter of 2024, surpassing Wall Street expectations of $1.60.The company had $7.03 billion in cash and cash equivalents at the end of the first quarter.Danaher anticipates a low single-digit decline in non-GAAP base business core revenue for the second quarter of 2024. On a non-GAAP basis, total core revenue for the full year is expected to decline in the low single-digit range.Danaher's stock price rose 7% to $253.21 during the afternoon trading on Tuesday at the New York Stock Exchange (NYSE).IVD Practitioners Network Translation
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