Corporate Banner
Satellite Banner
Technology
Networks
Scientific Communities
 
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

Full Range of Bruker Systems Installed in New Pre-Clinical Imaging Laboratory
Researchers, clinicians, health educators and policy makers all gathered as the new Multidisciplinary Centre for Research into Obesity and Related Comorbidities (Cepid-OCRC) was opened at da Universidade Estadual de Campinas (UNICAMP).
Thursday, June 18, 2015
UK National Graphene Institute Selects Bruker as Official Partner
World-leading graphene research facility purchases multiple Bruker AFMs.
Tuesday, April 07, 2015
PREMIER Biosoft Announces Reseller Agreement with Bruker
Agreement aims to advance lipidomics and metabolomics research.
Monday, November 17, 2014
Bruker Sells GC Business
Bruker completed the divestiture of its GC and GC single-quadrupole (GC-SQ) mass spectrometry products to Techcomp Europe Ltd on October 31st.
Tuesday, November 04, 2014
Bruker Awarded Fourth PeakForce Tapping Patent
AFM mode uniquely combines highest resolution imaging and material property mapping.
Thursday, July 24, 2014
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 MALDI Biotyper™ Receives CFDA Clearance
Company receives clearance from the China Food and Drug Administration to market and sell its IVD MALDI Biotyper System as a medical device in China for the identification of microorganisms isolated from human specimens.
Thursday, June 26, 2014
Bruker Opens New Preclinical Imaging Center of Excellence for the Americas
Massachusetts Center will provide advanced development, demonstration and customer support capabilities for Bracer’s unique multimodal preclinical imaging systems portfolio.
Thursday, January 30, 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
World’s First Compact 900 MHz Actively Refrigerated Magnet for NMR Installed at UCSD
Bruker announce the successful installation of an Ascend™ Aeon 900 magnet, the world’s first compact, single-story NMR magnet with active refrigeration.
Wednesday, December 11, 2013
Bruker Granted FDA Clearance to Market the MALDI Biotyper CA System
Bruker able to market MALDI Biotyper CA System in the US for the identification of Gram negative bacterial colonies cultured from human specimens.
Tuesday, November 26, 2013
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 Announces Acquisition of Prairie Technologies
Acquisition strengthens Bruker Nano Surfaces Division's position in life science markets.
Friday, September 13, 2013
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
Bruker Announces the Appointment of Thomas Bachmann
Appointment of Mr. Bachmann as President of the Bruker BioSpin Group.
Thursday, August 22, 2013
Scientific News
The Changing Tides of the In Vitro Diagnostics Market
With the increasing focus in personalized medicine, diagnostics plays a crucial role in patient monitoring.
LaVision BioTec Reports on the Neuro Research on the Human Brain After Trauma
Company reports on the work of Dr Ali Ertürk from the Institute for Stroke and Dementia Research at LMU Munich.
NIH Study Shows No Benefit of Omega-3 Supplements for Cognitive Decline
Research was published in the Journal of the American Medical Association.
Less May Be More in Slowing Cholera Epidemics
Mathematical model shows more cases may be prevented and more lives saved when using one dose of cholera vaccine instead of recommended two doses.
Investigating the Vape
Expert independent review concludes that e-cigarettes have potential to help smokers quit.
NIH Launches Human RSV Study
Study aims to understand infection in healthy adults to aid development of RSV medicines, vaccines.
Researchers Discover Synthesis of a New Nanomaterial
Interdisciplinary team creates biocomposite for first time using physiological conditions.
Poor Survival Rates in Leukemia Linked to Persistent Genetic Mutations
For patients with an often-deadly form of leukemia, new research suggests that lingering cancer-related mutations – detected after initial treatment with chemotherapy – are associated with an increased risk of relapse and poor survival.
Flu Remedies Help Combat E. coli Bacteria
Physiologists from the University of Zurich have now discovered why the intestinal bacterium Escherichia coli (E. coli) multiplies heavily and has an inflammatory effect.
Marijuana Genome Unraveled
A study by Canadian researchers is providing a clearer picture of the evolutionary history and genetic organization of cannabis, a step that could have agricultural, medical and legal implications for this valuable crop.
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
2,500+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
3,700+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FREE!