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Bruker Daltonics Q2 Earnings Reflect Rising Sales

NEW YORK, Aug. 7 – Bruker Daltonics reported second-quarter 2001 revenues of $22.3 million, compared with $17.5 million the company posted one year ago, as it continued to record strong sales of its mass spectrometers designed to analyze proteins and other biomolecules.

Sales of Bruker Daltonics’ life science mass spectrometry systems contributed to 75 percent of the company’s total revenue, with substance detection and aftermarket revenue contributing the remainder.

Operating expenses in the quarter rose as well, to $21.7 million from $17.1 million during the second quarter last year, an increase attributed to higher costs of products sold. While the company spent $4.6 million on research and development during the most recent quarter, compared to $5.0 million during the same period last year, selling and administrative expenses rose to $6.6 million from $4.3 million during the second quarter 2000.

Bruker Daltonics reported second-quarter 2001 net earnings of $800,000, or 2 cents per share, compared with $100,000, or 1 cent per share, year over year.

“Despite the state of the general economy, the weakness of the euro and yen, as well as lower demand for our substance detection systems, our life science product revenue growth has exceeded our expectations,” John Hulburt, Bruker Daltonics’ chief financial officer, said in a statement.

Bruker Daltonics, which makes only mass spectrometers, has not revised its earnings estimates for the year and continues to expect to see 25 percent to 30 percent top-line sales growth.

Last week, the company entered the market for high-end MALDI TOF-TOF mass spectrometers, which are designed to rapidly identify proteins, promising that its instrument would be available by the end of the calendar year. A comparable instrument made by its rival, Applied Biosystems, is due out at approximately the same time.

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