Bruker Corp.‘s prediction of windfalls from economic stimulus programs around the world turned out to be true, as the company says it’s booked more than $10 million in new orders stemming from stimulus cash in Japan, Europe and the U.S.
The Billerica, Mass.-based medical equipment manufacturer said last month that government stimulus spending could eventually pump an extra $200 million — or possibly more — of new revenue into its coffers.
And according to a filing with the Securities and Exchange Commission, the money is already starting to trickle in.
As part of its presentation at an institutional investors conference in Zurich, Switzerland, company executives revealed that Bruker received “stimulus orders” in Japan, Europe and America, including five orders from Japan for more than $3 million (and not including $12 million worth of previously booked Japanese orders).
“Additional significant NMR, mRI, EPR, X-ray crystallography, high-end mass spectrometry and other systems orders are expected from global stimulus funding in Q3 and Q4 of 2009, and into 2010,” according to the presentation.
Bruker posted sales of $252.5 million during the three months ended June 30, down nearly 19 percent compared with $311.5 million during the same period last year. Net income for the period plunged more than 40 percent to $12.9 million, compared with $21.7 million in the year-ago quarter.