Bruker Posts 19 Percent Jump in Q3 Revenues

Original from: Genomeweb

Bruker reported after the close of the market Monday that revenues in the third quarter rose 19 percent year over year.

For the three months ended Sept. 30, revenues were $608.9 million, up from $511.4 million in Q3 2020 and beating the consensus Wall Street estimate of $575.2 million.

The company saw a 1 percent positive effect on revenues from currency translation and a positive effect of less than 1 percent from acquisitions.

The company's CALID group, which houses its life sciences and mass spectrometry business, posted 13 percent growth in the quarter with revenues of $194.2 million compared to $171.3 million the year before.

Revenues for Bruker BioSpin increased 34 percent to $186.5 million from $152.1 million a year ago, Bruker Nano revenues rose 19 percent to $174.9 million from $147.1 million, and Bruker Energy & Supercon Technologies (BEST) revenues rose 30 percent to $57.0 million from $43.8 million.

The Billerica, Massachusetts-based company reported a profit of $87.1 million, or $.57 per share, in Q3 compared to a profit of $54.3 million, or $.35 per share, a year ago. On a non-GAAP basis, Bruker had EPS of $.63, above the consensus Wall Street estimate of $.44.

Bruker's R&D costs were $52.1 million for the quarter, up 8 percent from $48.3 million in Q3 2020. Its SG&A spending was $141.3 million, up 23 percent from $114.6 million in the year-ago quarter.

Bruker ended the quarter with $669.8 million in cash, cash equivalents, and short-term investments.

The company raised its full-year 2021 guidance to revenue growth of between 19.5 percent and 20.5 percent and EPS of between $2.05 and $2.09.

Source: Bruker Posts 19 Percent Jump in Q3 Revenues