bioMerieux results up on expectations

France-based in vitro diagnostics group bioMerieux has impressed Lehman Brothers' analysts by exceeding their expectations for the first six months of 2008.

The firm posted an increase of 1.9% in first-half net sales compared to the like period of 2007, to 528.2 million euros ($839.7 million). Lehman had expected turnover of 523.5 million euros during the period.

Sales in the second quarter of the year totalled 270.8 million euros, up 3% on the year-before period. European turnover, including the Middle East and Africa, was up 10.5% to 168.2 euros, with North American revenue down 17.2% to 53.6 million euros. This latter slow-down was due to a major sales force reorganization in the region. Revenue from the Asia-Pacific region were up 2.2% to 30.3 million euros and turnover from Latin America increased, 14.2% to 18.7 million euros.