Bruker Reports First Quarter 2016 Financial Results

Bruker's revenues for the first quarter of 2016 were $375.4 million, an increase of 6.2 percent compared to revenues of $353.3 million in the first quarter of 2015.  Excluding a 1.5 percent net positive effect from acquisitions & divestitures, and a 0.9 percent negative effect from changes in foreign exchange rates, Bruker reported year-over-year organic revenue growth of 5.6 percent for the first quarter of 2016, compared to an organic revenue decline of 3.0 percent in the first quarter of 2015. 

First quarter 2016 GAAP earnings per diluted share (EPS) were $0.14, compared to GAAP EPS of $0.04 in the first quarter of 2015.  Bruker reported first quarter 2016 non-GAAP EPS of $0.21, an increase of 50 percent compared to non-GAAP EPS of $0.14 in the first quarter of 2015.  A reconciliation of GAAP to non-GAAP financial measures is provided in the financial tables accompanying this press release.

"We are pleased to report solid organic revenue growth, operating margin expansion and EPS growth in the first quarter of 2016," said Frank Laukien, President & CEO of Bruker.  "Our performance was driven by strong revenue and profitability growth in our BioSpin and CALID Groups.  In the first quarter of 2016, we achieved the acceptance of our first shielded ultra high-field Aeon™ 1 GHz NMR system ahead of schedule, which contributed to our better than expected financial performance.  For the full year 2016, we see a mix of opportunities and demand challenges.  We remain committed to our ongoing margin expansion and EPS growth, and our full year 2016 outlook remains unchanged."

2016 Financial Outlook

Bruker expects organic revenue growth of approximately 3 percent compared to the year 2015.  The Company expects to increase its 2016 non-GAAP operating profit margin by approximately 100 basis points year-over-year.  Bruker expects non-GAAP earnings per share to be between $0.97 and $1.02 in 2016.