NEW YORK, May 7 – Bruker Daltonics reported strong revenue growth for the first quarter of 2001, with revenue jumping to $21.7 million from $14 million in the comparable quarter a year ago.
The company classified 70 percent of its revenue from life science products, 8 percent from substance detection products, and 22 percent from aftermarket products.
Bruker Daltonics of Billerica, Mass., spent $4.6 million on research and development during the first quarter of 2001, compared with $3.6 million in the year-ago quarter. Selling, general, and administrative costs also increased to $6.2 million from $3.7 in the first quarter of 2000.
The company’s net profits rose to $1 million, or 2 cents per share, from $100,000, or zero cents a share, in the year ago peirod. Wall Street analysts predicted earnings of 1 cent a share, according to a poll of five brokers conducted by First Call/Thomson Financial.
Contrary to other life science research equipment manufacturers, such as Applied Biosystems, Bruker Daltonics has not revised its earnings estimates for the year, and continues to expect to see 25 to 30 percent top-line sales growth.
"As we had announced already in early April 2001, our new order bookings for life science systems remain robust,” Frank Laukien, CEO of Bruker Daltonics, said in a statement. “While we are aware of concerns about slowing growth in our field, our product lines, including our new products introduced recently at PittCon, continue to be very well received by customers."Bruker Daltonics manufactures MALDI-TOF, ESI-TOF, ion trap, and FTMS mass spectrometers, as well as analysis software.