Bruker 2Q profit rises 75 pct on higher revenue
Shares of Bruker Corp. rose Wednesday after the maker of scientific instruments reported a 75 percent increase in second-quarter profits as revenue climbed.
The company earned $22.6 million, or 14 cents per share, compared with $12.9 million, or 8 cents per share, in the same period a year earlier.
Excluding one-time items, Bruker earned 15 cents per share in the latest quarter.
Revenue rose 19 percent to $300.9 million from $252.5 million.
Analysts polled by Thomson Reuters expected profit of 12 cents per share and revenue of $285.9 million.
Shares of Bruker, based in Billerica, Mass., rose 91 cents, or 8 percent, to close at $12.30. The stock has ranged from $8.96 to $15.85 over the past year.