Bruker Group said it expects a “single digit revenue decline” when it releases financial results for the 2009 first quarter in late April, company officials told analysts at the JP Morgan investor conference in New York.
The Billerica-based scientific instruments maker didn’t provide specifics and said it won’t until the end of the month. But executives laid out Bruker’s roughly $15 million cost-cutting plan, aimed at improving what they called “unsatisfactory” operating margins during 2008.
The moves include cutting back on the company’s R&D spend from 2008 levels and reducing its selling, general and administrative costs. The goal is to push gross margins north of 50 percent, after they dipped to 45 percent last year.
Bruker reported $65 million in net income on $1.1 billion in sales for 2008, a considerable drop-off from the $99 million in profits the company posted in 2007.