NEW YORK (GenomeWeb News) – Bruker said after the close of the market last night that it expects to report first-quarter revenues of around $400 million with organic revenue growth of around 10 percent year over year.
The firm pre-announced the revenue figure a day after competitor Waters surprised the market by reporting a 2 percent decline for its Q1 revenues year over year, citing weaker sales in certain developing markets as well as reluctance by several larger pharmaceutical firms to release their capital budgets. It missed Wall Street estimates on the top and bottom line.
The $400 revenue figure is above Bruker's guidance of $380 million to $390 million and above Wall Street's consensus estimate of $386.9 million.
Bruker will report its financial results and hold a conference call on May 1.
In early Wednesday trade on the Nasdaq, shares of Bruker were up 6 percent at $14.66. The shares had fallen around 4 percent on Tuesday.