Bruker Corp. (NSDQ:BRKR) posted first-quarter results today that beat the overall consensus on Wall Street and raised its full-year guidance as a result.
The Billerica, Mass.-based company reported profits of $56.7 million, or 37¢ per share, on sales of $554.7 million for the three months ended March 31, for a bottom-line gain of 440% sales growth of 30.83% compared with Q1 2020.
Adjusted to exclude one-time items, earnings per share were 44¢, 12¢ ahead of The Street, where analysts were looking for sales of $513.06 million.
“Bruker had an excellent start to 2021, with strong year-over-year revenue growth and remarkable operating performance improvements. During the quarter, we experienced strong revenue growth for our Project Accelerate products and solutions, particularly for proteomics and biopharma solutions, as well as for our core scientific instruments from strengthening academic, applied, industrial and semiconductor markets,” president and CEO Frank Laukien said in a news release.
Bruker is increasing its fiscal year 2021 outlook and expects to log a non-GAAP EPS of $1.82 to $1.87 to represent a year-over-year increase of 35% to 39%. It expects reported revenue growth to be approximately 14% to 16%.
Shares in BRKR were up 1.2% to $69.36 apiece by afternoon trading today. MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was down –1%.