Bruker BioSciences posts 2Q recovery
12 months, posting a modest revenue increase for the second
quarter. This has been driven by the introduction of new and
established technologies including its AXS unit as well as the
implementation of cost cutting and restructuring measures.
Bruker BioSciences' second quarter 2005 revenue of $71.4 million (€57.9 million), an 11.3 per cent increase from revenue of $64.1 million in the second quarter of 2004. Sales of Bruker's AXS units increased 13.6 per cent to $66.6 million, from $58.6 million compared to the same period last year.
Bruker's life-science mass spectrometry and NBC detection business - Bruker Daltonics - also recorded an increase in business, posting figures of $37.4 million - an increase of 7.1 per cent over the second quarter of 2004.
The latest performance by Bruker Daltonics is in marked contrast to 2004, in which the business suffered a decline to $34.2 million, from $36.3 million, which the company blamed on late shipping and installation of some new product lines.
"Over the last year, we have made progress in controlling our expenses, returning to profitability, and strengthening our cash flows and balance sheet. We will continue to focus on higher profitability through continued strict expense control, reduction in our interest expenses and gradual improvements in our effective tax rate," said Frank Laukien, President and CEO.
In September 2004, the company laid off around 60 employees worldwide in a move expected to be the first of many and which saved the company $6 million.
While Bruker Biosciences' organic revenue growth in the first half of 2005 has been above industry average, demand in several of its market segments have been weaker than expected.
"In the first half of this year, we have introduced several new technologies, and a number of innovative products that are receiving customer interest," added Laukien.
This includes the Proteineer-LC 1.1, an LC-MS/MS-based quantitative proteomics solution, and the new ProteinScape 1.3 release of its bioinformatics software.
In June of this year, Bruker also launched its ClinProt Beads for large proteins, glycomics and antigen-specific analysis combined with biomarker analysis software tools.
