This article has been updated to include comments from a conference call and a stock quote.
NEW YORK (GenomeWeb News) – Bruker today reported 35 percent revenue growth and a 44 percent increase in profit year over year for the fourth quarter ended Dec. 31.
The firm, which announced yesterday that it had completed its $1.1 billion acquisition of affiliated firm Bruker BioSpin, said that its fourth-quarter revenues were $183.7 million, up from $135.6 million in the fourth quarter of 2006. Its organic revenue growth for the quarter was 26 percent.
During a conference call this morning, Bruker President and CEO Frank Laukien said that the Bruker Daltonics unit had a particularly strong second half of the year following a slower first half.
The results do not include the operations of BioSpin. Company officials said during the call that they would provide an update next month on the combined financials of Bruker BioSciences and Bruker BioSpin and financial guidance.
“At this point, the feel of the market continues to be quite good in clinical research systems, in life science systems — I have not even anecdotally so far detected any change in the market,” said Laukien during the call. He said the firm would have a better picture of any changes in the market at the end of the first quarter.
Bruker posted a fourth-quarter profit of $14 million, or $.13 per share, an increase of 44 percent over net income of $9.7 million, $.09 per share, in the fourth quarter of 2006.
Its R&D expenses rose 20 percent to $16.2 million from $13.5 million year over year, while SG&A expenses increased 22.4 percent to $41.5 million from $33.9 million.
Bruker’s full-year 2007 revenues increased 26 percent, and 17 percent organically, to $547.6 million from $435.8 million
Net income for 2007 was $31.5 million, or $.30 per share, up 70 percent from a 2006 profit of $18.5 million, or $.18 per share.
Bruker’s R&D costs for the year grew 17 percent to $58.5 million from $50 million, while its SG&A expenses increased 24 percent to $140 million from $113 million.
Company officials noted during the call that the firm entered into a $380 million senior credit facility in connection with BioSpin acquisition.
Bruker finished the year with $72.9 million in cash and short-term investments.
In Thursday afternnon trade on the Nasdaq, Bruker shares were up 7 percent at $13.08. It reached a 52-week high of $14.72 earlier in the trading session.