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Merged Bruker Groups Surpass $1B Revenue Mark in 2007

NEW YORK (GenomeWeb News) – Bruker today reported the combined financial results of Bruker BioSciences and Bruker BioSpin for the fourth quarter and full-year 2007. The firm’s revenues grew 31.2 percent year over year for the fourth quarter and 21.3 percent for full-year 2007.
Bruker BioSciences acquired the BioSpin affiliate for $1.1 billion last month. Following completion of the deal, the combined firm was renamed Bruker Corp.
The day after closing the acquisition, Bruker reported fourth-quarter revenues of $183.7 million, up 35 percent from $135.6 million in the fourth quarter of 2006. Those results did not include the combined operations with BioSpin.
Today, Bruker reported that its combined revenue for the fourth quarter of 2007 was $343.1 million, up from $261.5 million in the fourth quarter of 2006. Its net income increased 3.9 percent to $37 million, or $.22 per share, from $35.6 million, or $.22 per share.
The firm’s R&D spending for the fourth quarter grew 11.4 percent to $30.3 million from $27.2 million, while its SG&A expenses increased 17.5 percent to $63.2 million from $53.8 million.
For full-year 2007, Bruker had revenues of just over $1 billion compared to $851 million in 2006. Its net income for the year increased 29.9 percent to $97.2 million, or $.59 per share, from $74.8 million, or $.47 per share, in 2006.
The company’s 2007 R&D costs increased 8 percent to $110.8 million from $102.6 million, while its SG&A expenses jumped 18.1 percent to $183.3 million.
Bruker finished 2007 with $344.5 million in cash and short-term investments.
The firm said it expects 2008 revenue growth of greater than 8 percent.
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