Corporate Banner
Satellite Banner
Metabolomics & Lipidomics
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
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 2,500+ scientific posters on ePosters
  • More than 3,700+ 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

PREMIER Biosoft Announces Reseller Agreement with Bruker
Agreement aims to advance lipidomics and metabolomics research.
Monday, November 17, 2014
Novel Approach for Inborn Errors of Metabolism Screening by NMR
Clinical IEM-by-NMR screening study in Turkey measures 65 metabolites in urine simultaneously, including 20 endogeneous metabolites and 45 metabolites associated with inborn errors of metabolism.
Wednesday, September 04, 2013
Scientific News
New ACE-inhibiting Molecule Found in the Asparagus
Scientists have determined that sulfur-containing compounds in plants can inhibit ACE.
A Metabolic Master Switch Underlying Human Obesity
Researchers find pathway that controls metabolism by prompting fat cells to store or burn fat.
Shedding Light On Century-Old Biochemical Mystery
Yale scientists have used magnetic resonance measurements to show how glucose is metabolized in yeast to answer the puzzle of the “Warburg Effect.”
PTR-MS Breath Test Shows Potential for Detecting Liver Disease
Researchers at the University of Birmingham have published results that suggest a non-invasive breath test for liver disease using an IONICON PTR-MS.
Metabolon and BCM Show Metabolomics May Play Key Role in Precision Medicine
Metabolon’s technology enhances understanding of genetic data and improves health assessment in newly published study.
Newly Discovered Cells Restore Liver Damage in Mice Without Cancer Risk
The liver is unique among organs in its ability to regenerate after being damaged. Exactly how it repairs itself remained a mystery until recently, when researchers supported by the NIH discovered a type of cell in mice essential to the process
Study Finds Cutting Dietary Fat Reduces Body Fat More than Cutting Carbs
In a recent study, restricting dietary fat led to body fat loss at a rate 68 percent higher than cutting the same number of carbohydrate calories when adults with obesity ate strictly controlled diets.
Inappropriate Medical Food Use in Managing Patients with a Type of Metabolic Disorder
Researchers have proposed that there is a need for more rigorous clinical study of dietary management practices for patients with IEMs, including any associated long-term side effects, which may in turn result in the need to reformulate some medical foods.
Medical Researchers a Step Closer to Developing Anti-Obesity Pill
A weight loss pill could soon be possible thanks to the work of Deakin University medical researchers.
Engineered Bacterium Produces Important Industrial Chemical
A Korean research team has reported the production of 1,3-diaminopropane via fermentation of an engineered bacterium.
Skyscraper Banner

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
2,500+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
3,700+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FREE!