Paced by 16.2 percent revenue growth during the fourth quarter, Bruker Corp. (NSDQ:BRKR) reported $43.6 million in profits during the three months ended Dec. 31, 2009.
The 66 percent jump in net income, compared with year-ago levels, on $366.4 million in revenues translated into 26 cents per share, beating even the most optimistic bottom-line forecasts by analysts. Company officials said they anticipate profit growth of at least 15 percent this year within Bruker’s primary scientific instruments operating unit, which would work out to net income of $93.4 million or more during 2010.
Bruker CEO Frank Laukien attributed the gains to a strong product mix and “the enthusiasm and customer focus of our global Bruker team.” He was particularly enthusiastic about the 116 percent year-over-year revenue growth within the energy and superconductor technologies unit, which is being prepped for an eventual spin-out and possible initial public offering.
For the full year ended in December 2009, Bruker’s core scientific instruments unit generated $87.2 million of net income on $1.063 billion in revenues. Sales declined 1.1 percent, or $12.6 million, from 2008. The energy and superconductor unit, meanwhile, narrowed its net loss during 2009 by $2 million, from $8.9 million to $6.9 million, with revenues climbing 37 percent to $59.8 million. The company did not provide guidance for BEST or offer a timetable for the proposed spinoff.