Skip to main content
Premium Trial:

Request an Annual Quote

Faced With Receding Income, Bruker AXS Trims Staff

NEW YORK, Aug. 12 - Bruker AXS today said that it has fired an undisclosed number of staff as its second-quarter net income shrank despite increased net sales.

 

For the period ended June 30, Bruker said net sales grew to $24 million from $20 million one year ago. R&D spending in the quarter also picked up, to $2.8 million  from $1.9 in the second quarter of 2001.

 

Second-quarter net income for the quarter, however, tumbled three-fold to $600,000, or $.01 per share, from $1.8 million, or $.04 per share, year over year, Bruker said.

 

Though "pleased that we continue to meet our revenue objectives" amid "rapid expansion," CFO Laura Francis said Bruker intends to eliminate "a number of redundant positions" in an attempt to reduce costs.

 

She said the restructuring will cost the company between $1.5 million and $2.5 million during the third quarter but save it between $2 million and $3 million annually.

 

Martin Haase, president and CEO, said he expects Bruker AXS to pull in between $99 million and $100 million by the end of the year, a 20-percent improvement over 2001.

 

Bruker said it had $50.7 million in cash and cash equivalents as of June 30.

 

Company officials declined to comment. A conference call is set to take place tomorrow at 11:00 a.m. Eastern time.

The Scan

Unique Germline Variants Found Among Black Prostate Cancer Patients

Through an exome sequencing study appearing in JCO Precision Oncology, researchers have found unique pathogenic or likely pathogenic variants within a cohort of Black prostate cancer patients.

Analysis of Endogenous Parvoviral Elements Found Within Animal Genomes

Researchers at PLOS Biology have examined the coevolution of endogenous parvoviral elements and animal genomes to gain insight into using the viruses as gene therapy vectors.

Saliva Testing Can Reveal Mosaic CNVs Important in Intellectual Disability

An Australian team has compared the yield of chromosomal microarray testing of both blood and saliva samples for syndromic intellectual disability in the European Journal of Human Genetics.

Octopus Brain Complexity Linked to MicroRNA Expansions

Investigators saw microRNA gene expansions coinciding with complex brains when they analyzed certain cephalopod transcriptomes, as they report in Science Advances.