NEW YORK (GenomeWeb News) — Bruker BioSciences today said second-quarter revenues increased 21 percent as R&D spending rose 13 percent and profit soared 96 percent.
Total receipts for the three months ended June 30 increased to $121.7 million from $100.5 million year over year. Part of this increase was due to the effects of foreign currency translation. Excluding these effects, second-quarter 2007 revenue increased by 17 percent year-over-year.
Product revenue increased 21 percent to $106.7 million; service revenue increased 25 percent to $15 million; and “other” revenue fell to $78,000 from $249,000 in the year-ago period.
R&D spending rose to $13.9 million from $12.3 million in the year-ago period.
Net income rose to $4.97 million from $2.54 million in the year-ago period.
CEO Frank Laukien said the strong revenue and “solid” increase in income came from the company’s “innovative products and solutions” and from “favorable market dynamics.”
Bruker said it had around $41.9 million in cash and short-term investments as of June 30.