I may make it out to San Jose over Christmas. You could always buy me a beer. (g)
Nov. 9, 2000-- Bruker Daltonics Inc. (NASDAQ: BDAL - news) today reported financial results for its third quarter 2000 and the nine months ended September 30, 2000.
THIRD QUARTER 2000
For the three months ended September 30, 2000, Bruker Daltonics reported product revenues of $22.2 million, compared to $17.2 million for the third quarter of 1999. When compared to our adjusted third quarter 1999 product revenue of $14.2 million, which does not include a one-time substance detection contract for the U.S. Department of Defense (DoD), product revenue growth for the third quarter 2000 was 56%, including unfavorable currency effects. Our top-line growth rate for the third quarter has been reduced by approximately 17% due to the weakness of the European currencies.
This strong increase in revenues is principally due to the growing demand for our life science products with new and existing customers. Life science systems revenue, substance detection systems revenue and aftermarket revenues as a percentage of product revenues were 65%, 20% and 15%, respectively, for the three months ended September 30, 2000.
Operating EBIT, not including grant revenue, for the third quarter 2000 was breakeven, including a non-cash compensation charge of $0.2 million relating to our stock option plan, compared to $0.3 million for the comparable period in 1999. Income from continuing operations, after provision for taxes, for the quarter was $0.6 million as compared to $0.4 million for the comparable period in 1999. In the third quarter 2000, the Company spent $5.9 million, or 26% of net revenue, on research and development of new products and applications, primarily in proteomics and SNP genotyping, compared to $4.3 million in the third quarter of 1999... |
