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Shares in medical-technologies developer Bruker Corp. jumped almost 16 percent Thursday after the company released better than expected third quarter earnings figures.
Company CEO Frank Laukien stressed the company’s improved performance quarter-to-quarter, against the backdrop of a difficult environment for manufacturers of capital equipment.
“During the third quarter we have seen positive sequential trends in bookings throughout the company, even in the divisions with a greater industrial markets exposure. We have also begun to see robust bookings from our academic and government customers who are benefiting from various global government stimulus programs. While we expect a strong fourth quarter of 2009, we believe that most of the anticipated positive revenue and margin effects from global stimulus orders will be reflected in Bruker’s financial results in 2010 and 2011,” Laukien said in a prepared statement.
Bruker (Nasdaq:BRKR) was trading at $11.64 a share mid-day Thursday, up from $10.05 a share at the previous day’s close.
The Billerica-based scientific instrument maker reported revenue of $265.1 million for the third quarter ended Sept. 30, up from $242.1 million for the corresponding period last year.
Profit was down slightly on a year-over-year basis, dipping to $16.4 million from $17.8 million for the third quarter of 2008. Operating expenses remained relatively flat for the quarter, compared with 2008’s corresponding period.
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