Bruker shares hit 7-year high on profit news

X-ray technology and molecular analysis company Bruker Corp. said today that its fourth-quarter profit rose 44 percent on a surge in product sales.

The stock hit a seven-year high on the results, jumping more than 13 percent to reach $14 in morning trading.

The company earned $14 million, or 13 cents per share, compared with a profit of $9.7 million, or 9 cents per share, during the same period a year prior. Revenue rose 35 percent to $183.7 million from $135.6 million.

Analysts polled by Thomson Financial expected profit of 11 cents per share on revenue of $154.5 million.

Product sales made up the bulk of the revenue, rising 37 percent to $164.9 million, while service fees rose 23 percent to $18.4 million. Other revenue accounted for $449,000.

For the full year, the company earned $31.5 million, or 30 cents per share, compared with a profit of $18.5 million, or 18 cents per share, in 2006. Revenue rose to $547.6 million from $435.8 million.

Also, the company said it closed the $914 million cash-and-stock buyout of Bruker BioSpin Group on Tuesday. (AP)