NEW YORK (GenomeWeb News) – Bruker today reported fourth-quarter 2009 revenue growth of 16 percent, or 6 percent excluding the effects of foreign currency translation. The firm's Q4 results beat preliminary expectations announced by the firm just three weeks ago.
Bruker generated total revenues of $366.4 million for the three-month period ended Dec. 31, 2009, compared to $315.2 million for Q4 2008. Its revenues surpassed preliminary expectations of $340 million announced in January and $355 million announced earlier this month. In addition, it easily beat analysts' consensus estimate of $334.9 million.
The firm's Scientific Instruments segment had revenue growth of 13 percent year over year to 4346.2 million from $306.8 million, while its Energy & Supercon Technologies segment had 116 percent revenue growth.
Bruker's profit for the quarter was $43.6 million, or $.26 per share, up from $26.2 million, or $.16 per share, for the fourth quarter of 2008. The Q4 2008 profit was negatively affected by a $2.3 restructuring charge. The firm beat analysts' estimates of $.21 per share in Q4 2009.
The firm's R&D spending increased 5 percent to $34.6 million from $33 million, while its SG&A spending jumped 12 percent to $73.9 million from $66.1 million.
For full-year 2009, Bruker's revenues increased 1 percent to $1.114 billion from $1.107 billion. Excluding currency effects, its revenue growth was 2 percent year over year.
The firm's Scientific Instruments segment had a year over year revenue decline of 1 percent to $1.06 billion from $1.07 billion. Its Energy & Supercon Technologies segment had revenue growth of 37 percent to $59.8 million from $43.5 million.
Bruker's net income for full-year 2009 was $81 million, or $.49 per share, compared to $65.2 million, or $.39 per share for FY 2008.
The firm's R&D spending for the year declined 6 percent to $126.4 million from $133.8 million, while its SG&A spending was nearly flat at $255.3 million versus $254.5 million.
Bruker finished the year with $209.1 million in cash, cash equivalents, and restricted cash.
The firm said in a statement that its financial goals for 2010 include currency-adjusted revenue growth of greater than 5 percent.