Skip to main content

Bruker Posts Strong Q3; Shares Jump

NEW YORK (GenomeWeb News) – Bruker today reported strong third-quarter financial results, with its revenues rising around 10 percent year over year.

The Billerica, Mass.-based firm easily beat analysts' consensus estimates for revenues and earnings per share, causing its shares to soar in early Thursday trade on the Nasdaq.

Bruker brought in total revenues of $265.1 million for the three-month period ended Sept. 30, compared to $242.1 million for the third quarter of 2008. Analysts, on average, had expected $240 million.

Sales for its Bruker Scientific Instruments segment were $716.5 million for the first nine months of the year versus $767.3 million the year before. Sales for the Bruker Energy & Supercon Technologies segment were $36 million for the first nine months compared to $32.5 million the year before.

"During the third quarter we have seen positive sequential trends in bookings throughout the company, even in the divisions with a greater industrial markets exposure," Frank Laukien, Bruker's president and CEO, said in a statement. "We have also begun to see robust bookings from our academic and government customers who are benefiting from various global government stimulus programs."

Bruker's third quarter net income was $16.4 million, or $.10 per share, down from $17.8 million, or $.11 per share. Analysts had expected EPS of $.07 per share. The firm noted that its Q3 2008 results included a one-time tax benefit of $.07 per share.

Bruker's R&D spending dropped around 5 percent to $31.6 million from $33.1 million, while its SG&A spending was down 2 percent to $61.6 million from $62.9 million.

It finished the quarter with $150.5 million in cash, short-term investments, and restricted cash.

"While we expect a strong fourth quarter of 2009, we believe that most of the anticipated positive revenue and margin effects from global stimulus orders will be reflected in Bruker's financial results in 2010 and 2011," Laukien said.

In early Thursday trade, shares of Bruker were up 13 percent at $11.44.

The Scan

Gap in COVAX Doses

BBC News reports that COVAX is experiencing a vaccine shortfall, as the Serum Institute of India has paused exports.

Sanofi, GSK Report Promising Results

The Wall Street Journal reports that the candidate SARS-CoV-2 vaccine from Sanofi and GlaxoSmithKline has had encouraging early results.

Influence of Luck

The New York Times examines how the US avoided variant-fueled increases in COVID-19 cases.

PLOS Papers on Retina GWAS, Hantaan Virus, COVID-19 Phenome-Wide Association Study

In PLOS this week: genome-wide association study of retinal morphology, analysis of hantaan virus found in a mouse, and more.