Corporate Banner
Satellite Banner
Food & Beverage Analysis
Scientific Community
 
Become a Member | Sign in
Home>News>This Article
  News
Return

Bruker Reports 7% Revenue Growth in Q4

Published: Wednesday, February 19, 2014
Last Updated: Wednesday, February 19, 2014
Bookmark and Share
Bruker Corporation reported financial results for its fourth quarter and full year ended December 31, 2013.

Bruker’s revenues for the fourth quarter of 2013 grew by 6.7 percent to $552.1 million, compared to $517.3 million in the fourth quarter of 2012. Excluding a 0.4 percent positive effect from changes in foreign exchange rates and a 0.1 percent net positive effect from acquisitions and divestitures, Bruker reported organic revenue growth of 6.2 percent year-over-year in the fourth quarter of 2013.

Bruker reported fourth quarter 2013 GAAP operating income of $61.0 million, or 11.0% of revenues, compared to $39.2 million, or 7.6% of revenues, in the fourth quarter of 2012. Fourth quarter 2013 GAAP earnings per diluted share (EPS) was $0.21, compared to EPS of$0.08 in the fourth quarter of 2012.

On a non-GAAP basis, Bruker reported fourth quarter 2013 operating income of $81.3 million, or 14.7% of revenues, compared to $73.0 million, or 14.1% of revenues, in the fourth quarter of 2012. Fourth quarter 2013 non-GAAP EPS was $0.31, compared to $0.28 in the fourth quarter of 2012. A reconciliation of GAAP to non-GAAP financial measures is provided in the Company’s financial tables accompanying this press release.

For the full year 2013, Bruker’s revenues grew 2.7 percent to $1.84 billion, compared to$1.79 billion for the full year 2012. Excluding a 0.3 percent unfavorable impact from changes in foreign exchange rates and a 0.2 percent net negative effect from acquisitions and divestitures, the Company generated 3.2 percent organic revenue growth for the full year 2013.

Bruker reported GAAP operating income of $148.2 million, or 8.1% of revenues, for the full year 2013, compared to $156.0 million, or 8.7% of revenues, for the full year 2012. The Company’s GAAP EPS for the full year 2013 was $0.48, compared to $0.46 for the full year 2012.

On a non-GAAP basis, Bruker reported operating income of $205.5 million, or 11.2% of revenues, for the full year 2013, compared to $219.0 million, or 12.2% of revenues, for the full year 2012. Non-GAAP EPS for the full year 2013 was $0.77, compared to $0.83 for the full year 2012. Free cash flow for the full year 2013 was $94.7 million, compared to $60.3 millionfor the full year 2012.

“We ended 2013 on a stronger note, with healthy revenue growth and improving free cash flow,” said Frank Laukien, President and CEO of Bruker. “Over the past eighteen months, we have taken steps to transform Bruker into a stronger company, while continuing to emphasize product innovations. These steps have included: expanding our leadership team; adopting our new Group structure; improving our operational processes and infrastructure; and implementing cost savings initiatives that are expected to generate $15 to $20 million of annual savings. While our full year 2013 financial performance does not yet fully reflect our underlying progress, we are confident that our multi-year innovation and transformation efforts are proceeding well, and we expect to deliver attractive growth and operating leverage in 2014 and beyond.”

Laukien continued: “Looking ahead to 2014, we feel better about the health of our core academic and government customers and about our prospects in the clinical research and diagnostics markets, but we remain cautious about demand from the industrial markets. Overall, we expect to generate year-over-year revenue growth of approximately 3 to 4 percent, and non-GAAP EPS growth of 10 to 14 percent, for the full year 2014.”

“Our higher full year 2013 free cash flow performance is a reflection of the gradual progress we are making in improving our working capital efficiency and lowering our capital expenditures,” said Charles Wagner, Chief Financial Officer of Bruker. “While we did an effective job of lowering our operating expenses and launching new restructuring initiatives during the year 2013, these actions were not enough to compensate for losing more than 100 basis points of operating margin due to changes in foreign exchange rates during 2013. Moving forward, we are well-positioned to drive margin expansion and further cash flow improvements in 2014 and subsequent years.”


Further Information

Join For Free

Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 3,000+ scientific posters on ePosters
  • More than 4,400+ scientific videos on LabTube
  • 35 community eNewsletters


Sign In



Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into TechnologyNetworks.com you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.

Related Content

Bruker’s NMR FoodScreener™ Laboratory Achieves ISO/IEC 17025 Accreditation
Bruker announced that its NMR FoodScreener™ laboratory for food authenticity and quality determination, located in Rheinstetten, Germany, has been granted ISO/IEC 17025 accreditation.
Monday, September 28, 2015
Using LC-MS to Analyse Sulfonamides in Food Grade Honey
Sulfonamides are one of a number of groups of chemicals whose presence in honey is limited by international regulations.
Tuesday, July 22, 2014
Bruker Corporation Appoints Dr. Gilles Martin to its Board of Directors
Dr. Martin is Chairman and Chief Executive Officer of the Eurofins Scientific Group.
Monday, January 20, 2014
Scientific News
Apricot Kernels Pose Risk of Cyanide Poisoning
Eating more than three small raw apricot kernels, or less than half of one large kernel, in a serving can exceed safe levels. Toddlers consuming even one small apricot kernel risk being over the safe level.
Soy Shows Promise as Natural Anti-Microbial Agent
Researchers from University of Guelph show that soy isoflavones and peptides could be used to reduce microbial contamination of food.
First DNA Vaccine in the EU Recommended for Use in Salmon
Clynav to protect Atlantic salmon from serious infectious disease.
Grant to Fund Million Peaks Project
The European Research Council (ERC) has awarded a prestigious Advanced Grant to Prof. Peter Schoenmakers, Prof. Albert Polman and Prof. Huib Bakker, all three of whom work at the University of Amsterdam (UvA).
Finding Inorganic Arsenic in Foodstuffs
A new European standard method to determine the content of inorganic arsenic in foodstuffs has been developed at the National Food Institute, Technical University of Denmark.
Effective Identification of Low-Gliadin Wheat Lines
Researchers have demonstrated the use of NIRS to identify low-gliadin wheat lines.
Virus Causing Tilapia Die-Offs Identified
Discovery of the virus causing Tilapia die-offs in Israel and Ecuador points the way to protecting a fish that feeds multitudes.
Interactive Maps Reveal Global Obesity
World’s obese population hits 640 million, according to largest ever study.
Eating Green Could be in Your Genes
Genetic variation uncovered that has evolved in populations that have historically favored vegetarian diets, such as in India, Africa and parts of East Asia.
Detecting Bacterial Growth in Packaged Food
New technique enables fast, accurate and noninvasive measurement of bacteria levels.
SELECTBIO

Skyscraper Banner
Go to LabTube
Go to eposters
 
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
3,000+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
4,400+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FOR FREE!