Bruker revenues edge higher in Q4

2020 02 06 18 18 1550 Business Financial Results 400

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.

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