Bruker shares fall as profit declines 33 percent

Stock shares of Bruker Corp. slid to a 52-week low today after the Billerica company reported that its third-quarter profit sagged 33 percent on increased operating expenses.

The X-ray technology and molecular analysis company reported it earned $17.8 million, or 11 cents per share, for the three months ended Sept. 30 compared to $26.7 million, or 16 cents per share, a year ago.

Revenue edged up to $242.1 million from $241.8 million on improved service revenue. Total operating expenses grew to $94.9 million from $81.3 million.

Chief financial officer William Knight said in a statement that the company anticipates between $12 million and $15 million in annual savings, which will likely result in about $6 million in one-time restructuring expenses and tax charges.

Shares of Bruker declined $1.42, or 27.5 percent, to $3.76 in afternoon trading on the Nasdaq Stock Market. The stock hit a 52-week low of $3.65 earlier in the session. (AP)