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Bruker Expects 25 Percent Revenue Growth for 2011

NEW YORK (GenomeWeb News) — Bruker this morning reported that it expects to post $465 million in revenue for the fourth quarter of 2011 and $1.64 billion in revenue for the full year.

The company released the preliminary results in a filing with the US Securities and Exchange Commission ahead of a presentation at the JP Morgan Healthcare Conference in San Francisco later today.

In the filing, the company reported estimated Q4 revenue of $465 million, which represents 11 percent growth over the fourth quarter of 2010.

Estimated full-year revenue, meantime, is expected to grow 25 percent to $1.64 billion.

Bruker estimated full-year 2011 revenues of $80 million for its Chemical & Applied Markets division, and an operating loss for the group of $18 million. The company reiterated its previously stated goal of reaching break-even for the CAM group in 2013. It is targeting more than $250 million in CAM revenues by 2016.

The preliminary results are in line with guidance that the company provided in its Q3 2011 earnings report, when it raised its full-year revenue forecast to a range of between $1.62 billion and $1.64 billion from a previous forecast of between $1.60 billion and $1.62 billion.

The preliminary results fall slightly short of Wall Street consensus estimates of $472 million for the quarter and $1.648 billion for the full year.

While the preliminary results are "at the high end of management's FY2011 guidance," Goldman Sachs analyst Issac Ro said in a research note that the company "has beat [Wall] Street revenue estimates for 12 quarters in a row and we view this as a disappointment." He added that he is maintaining a Neutral rating for the company.

Also, at the 30th Annual JP Morgan Healthcare Conference in San Francisco today, company officials said that Bruker remains in discussions with the US Food and Drug Administration about the proper regulatory pathway for its MALDI Biotyper, which is currently available for research use only in the US.

The company plans to file for 510(k) clearance, which it hopes to receive by the end of the year.

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