Bruker Q1 Profit Rises, Tops View

(RTTNews) - Bruker Corp. (BRKR) on Wednesday reported first quarter net income of $8.7 million or $0.05 per share, compared to $5.4 million or $0.03 per share a year ago.

On an adjusted basis, Bruker's earnings for the quarter were $18.7 million or $0.11 per share, compared to $13.4 million or $0.08 per share a year ago. On average, fourteen analysts polled by Thomson Reuters expected earnings of $0.09 per share for the quarter. Analysts' estimates typically exclude one-time items.

Bruker's revenues for the first quarter grew 7.7 percent to $423.7 million from $393.4 million in the corresponding quarter last year. Thirteen analysts had a consensus revenue estimate of $402.04 million for the quarter.

Excluding a 1.1 percent net positive effect from acquisitions and divestitures, year-over-year organic revenue growth was 6.6 percent in the first quarter of 2014.

Frank Laukien, President and CEO of Bruker. "Our research, applied and clinical markets are healthy, whereas our industrial markets grew slowly after declining last year. Looking ahead, we remain on track to deliver our full-year 2014 guidance, but we may see variability in our quarterly results."

Bruker maintained its outlook for the full year 2014 with revenue growth of 3 to 4 percent and adjusted earnings per share growth of 10 to 14 percent.

Bruker closed Wednesday's regular trade at $20.59, down $0.24 or 1.15%, on a volume of 0.66 million shares. In after-hours, the stock gained $0.90 or 4.37%, to trade at $21.50.