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Bruker Posts Revenue Rise Amidst Losses

SAN FRANCISCO, Aug. 7 - Bruker Daltonics today reported an increase in second quarter revenue against the backdrop of net losses.


For the three months ended June 30, Bruker reported total revenues of $28 million compared with $22.3 million for the same period one year ago.


Net loss for the quarter was $4.2 million, or $.08 per share, compared to a gain of $833,000, or $.02 per share, for the year-ago period.


In the second quarter, Bruker said it took a $1.5 million pretax restructuring charge, mostly for workforce reduction and cost savings programs, and wrote down its investment in a proteomics company by $4.4 million pretax.


In July, Bruker announced layoffs of approximately 10 percent of its workforce due to "on-going uncertain economic conditions," according to the company.


R&D spending rose to approximately $5.1 million from $4.6 million for the second quarter in 2001


The company said it had roughly $54.8 million in cash and short-term investments as of June 30.


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