Corporate Banner
Satellite Banner
Proteomics
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 2,400+ 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

Bruker and SISCAPA Assay Technologies Announce Second-Phase Collaboration Agreement
The ongoing collaboration aims to exploit MALDI-TOF instruments as an alternative to nano-LC-MS technology currently used in many SISCAPA assays.
Monday, September 16, 2013
Bruker and 3M Sign Exclusive Patent License Agreement
The licensed 3M patents are directed to a technique for performing mass spectrometry analysis on proteins in tissue that has been preserved in paraffin.
Tuesday, June 04, 2013
Bruker and SCiLS GmbH Announce an Exclusive Partnership
SCiLS Lab is the software developed by SCiLS GmbH which allows the user-friendly statistical analysis of large MALDI imaging datasets.
Wednesday, May 15, 2013
Bruker and the Genome British Columbia Proteomics Centre to Collaborate
The collaborative effort covers the development and validation of high-throughput assays for determining hemoglobin variants and diabetes risk.
Thursday, April 18, 2013
Bruker and Erasmus Medical Center Sign an Exclusive Licensing Agreement
Agreement for adding rapid beta-lactamase testing capabilities to the MALDI Biotyper system.
Friday, January 04, 2013
Bruker and JMI Laboratories Announce Collaboration for Mass Spectrometry
The collaboration sees Bruker and JMI Laboratories partner in the field of fungal identification by proteomics fingerprinting.
Wednesday, June 20, 2012
Bruker and SAT Announce Joint Publication
Publication of study on SISCAPA-MALDI-TOF mass spectrometry for biomarker validation and clinical research.
Monday, April 23, 2012
Bruker and Berkeley Lab Collaborate on Novel Technology for Structural Biology
Berkeley Lab and Bruker intend to integrate SAXS and NMR data for 3D structure determination of multi-domain proteins and protein complexes with DNA, RNA or other proteins.
Thursday, November 24, 2011
Scientific News
New Tech Enables Epigenomic Analysis with a Mere 100 Cells
A new technology that will dramatically enhance investigations of epigenomes, the machinery that turns on and off genes and a very prominent field of study in diseases such as stem cell differentiation, inflammation and cancer has been developed by researchers at Virginia Tech.
TOPLESS Plants Provide Clues to Human Molecular Interactions
Scientists at Van Andel Research Institute have revealed an important molecular mechanism in plants that has significant similarities to certain signaling mechanisms in humans, which are closely linked to early embryonic development and to diseases such as cancer.
Toxin from Salmonid Fish has Potential to Treat Cancer
Researchers from the University of Freiburg decode molecular mechanism of fish pathogen.
Study Finds Non-Genetic Cancer Mechanism
Cancer can be caused solely by protein imbalances within cells, a study of ovarian cancer has found.
Long-sought Discovery Fills in Missing Details of Cell 'Switchboard'
A biomedical breakthrough reveals never-before-seen details of the human body’s cellular switchboard that regulates sensory and hormonal responses.
Rice Disease-Resistance Discovery Closes the Loop for Scientific Integrity
Researchers reveal how disease resistant rice detects and responds to bacterial infections.
The Mystery of the Instant Noodle Chromosomes
Researchers from the Lomonosov Moscow State University evaluated the benefits of placing the DNA on the principle of spaghetti.
New Mussel-Inspired Surgical Protein Glue
Korean scientists have developed a light-activated, mussel protein-based bioadhesive that works on the same principles as mussels attaching to underwater surfaces and insects maintaining structural balance and flexibility.
Vital Protein in Healthy Fertilization Process Identified
Researchers at the National Institutes of Health have discovered a protein that plays a vital role in healthy egg-sperm union in mice.
Teeth Reveal Lifetime Exposures to Metals, Toxins
Researchers have identified dental biomarkers to reveal links between early iron exposure and late life brain diseases.
Scroll Up
Scroll Down
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
2,400+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
3,700+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FREE!