Growth in its Scientific Instruments business segment and favorable currency effects helped Bruker to achieve a 4.6% increase in revenue in its fourth quarter.
For the period (end-December 31), Bruker had revenues of $627.5 million, up from the $599 million posted in the fourth quarter of 2019. Organic revenue dipped by 0.4%, however.
Bruker Scientific Instruments produced $574.7 million in the fourth quarter, up 5.1% overall compared with the same period a year ago. Organic revenue was approximately flat, according to the firm. Meanwhile, Bruker Energy & Supercon Technologies reported $54.7 million in fourth-quarter revenues, down 5.2% overall and down 6.8% organically compared with the fourth quarter of 2019.
Bruker had fourth-quarter net income of $68.9 million, compared with $68.6 million in the same period last year.
For the year, Bruker had $1.988 billion in revenue, down 4.1% overall and down 6% organically compared with the $2.072 billion in revenue generated in 2019. Net income for the year reached $157.8 million, compared with $197.2 million last year. Profitability was hurt by lower revenues during the COVID-19 pandemic and related economic slowdown, according to the company.
Looking ahead, Bruker said it expects strong revenue growth, operating margin expansion, and earnings per share growth in 2021.