Major releases were relatively sparse at ASMS as many vendors focused instead on the development of applications and workflows for their existing platforms.
Organic revenues were up 2 percent, as the company saw solid demand among its pharma customers but a decline in sales of its mass spectrometry instruments.
Driven by strong pharma sales, the company's revenues rose to $687 million from $629 million in Q4 2016, besting the consensus analyst estimate of $669 million.
Developed by researchers at the University of Michigan, the software could help drive uptake of ion mobility mass spec within the top-down proteomics field.
The company entered an agreement with JP Morgan Chase that provides a five-year unsecured $300 million term loan and a $1.5 billion revolving facility.
