BILLERICA, Mass. (AP) -- Bruker Corp. said Monday its third-quarter net income doubled, helped by easy comparisons to a prior-year period weighed down by more than twice as much in one-time charges.
The results easily beat Wall Street predictions and the company boosted its full-year guidance, sending its shares up more than 10 percent in morning trading.
For the quarter ended Sept. 30, the scientific equipment maker earned $39.7 million, or 24 cents per share, up from $19.8 million, or 12 cents per share, in the same quarter last year.
The recent quarter's results included one-time acquisition and other charges totaling $7.4 million, while the year-ago period included $14.6 million in assorted charges. Excluding one-time items, the Billerica, Mass.-based company posted an adjusted profit of 28 cents per share for the recent quarter.
Revenue rose 7 percent, to $447.8 million from $418.4 million last year.
Analysts, on average, expected adjusted profit of 16 cents per share on $421.6 million in revenue, according to FactSet.
Revenue at the company's scientific instrument business rose 4 percent to $408.9 million, while revenue at its energy and supercon technologies business jumped 53 percent to $42.4 million, helped by $16.4 million in contributions from a contract with Rosatom, Russia's nuclear energy agency.
Citing the better-than-expected third-quarter results, Bruker raised its full-year earnings prediction to a range of 75 cents to 79 cents per share and its full-year revenue guidance to a range of $1.73 to $1.76 billion.
The company previously predicted a profit of between 65 cents and 70 cents per share and revenue of between $1.7 billion and $1.75 billion.
Analysts, on average, expect earnings of 67 cents per share, with estimates ranging from 64 cents to 70 cents. Wall Street projects revenue of $1.73 billion, on average, with estimates ranging from $1.7 billion to $1.76 billion.
Bruker shares rose $1.36, or 10.8 percent, to $13.95 in morning trading. The stock has traded between $9.91 and $17.10 in the past 52 weeks.