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BRKR - (recommended
to subscribers
on 10/06/04)
BOUGHT
at $3.63 SOLD
at $6.05
On
August 3rd 2004 Bruker Biosciences, a provider of life science tools
based on mass spectrometry as well as research tools based on X-ray
technology, reported 2nd quarter 2004 revenue of $64 million. This
compares to $61 million reported in the 2nd quarter of 2003. Net loss
on a Gaap basis was $4.7 million or 5 cents per share. Gross margins in
the quarter were 41%. The company said it is positioned for margin
improvement going forward. In the 1st half of 2004 new order bookings
were up more than 15% from the 1st half of 2003. Backlog was up 20%
when compared to the 1st half of 2003. No customer accounted for 10% or
more of total sales in 2003. Several new products will be shipping in
the 2nd half of 2004 which will help drive revenue growth. For the 3rd
quarter Bruker expects revenue to be $68-$72 million with non-Gaap
earnings of 0-2 cents per share.
Bruker Biosciences
also makes nuclear, biological, and chemical agent detection systems.
Sales of detection systems were relatively small at $13 million in 2003
however the company expects this part of the business to grow rapidly
in the future. Bruker said it is currently being evaluated with a small
contract by the Department of Homeland Defense which it mentioned
during a UBS Life Sciences conference last week.
Bruker Biosciences
has $79 million in cash and cash equivalents or 89 cents per share. The
company has $46 million of debt. Book value is $2.21 per share. The
stock currently trades at 1 times 2005 revenue estimates. BRKR has a
low price-to-book ratio of 1.6.
Looking at the 3
month chart below you can see that today BRKR closed above it's 50 day
moving average for the 1st time in more than 3 months. It did so on
heavy volume. It also closed at a 6 week high after trading in a very
narrow range during September. At the very bottom of the chart there is
a Relative Strength Index (RSI). Today it broke above 50 for the 1st
time in 4 months.
08/23/06-
SOLD AT$6.05 FOR A GAIN OF 67%. DURING THE SAME TIME PERIOD THE NASDAQ
WAS UP 8%.
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