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Bruker Reports Financial Results for the Third Quarter of 2012

2012年11月5日

马萨诸塞州比勒里卡。--(BUSINESS WIRE)--Nov. 5, 2012-- Bruker Corporation(NASDAQ: BRKR) today reported financial results for the third quarter ended 9月30日,2012

布鲁克公司财务业绩

In the third quarter of 2012, revenue was $447.8 million, an increase of 7.0% compared to $418.4 millionin the third quarter of 2011. Excluding the effects of acquisitions and foreign currency translation, third quarter 2012 revenue increased by 13.8% year-over-year. GAAP net income for the third quarter of 2012 was $39.7 million, 或者 $0.24相比 $ 1980万美元, 或者 $0.12在2011年第三季度,每股稀释份额。Adjusted net income for the third quarter of 2012 was $47.1 million, 或者 $0.28相比 3440万美元, 或者 $0.21在2011年第三季度,每股稀释份额。

For the nine months ended 9月30日,2012, revenue was $ 1,2741万美元,增加了8.3% $ 1,17660万美元在2011年的前九个月。排除收购和外币翻译的影响,2012年前9个月的收入在2011年的可比期内增加了12.6%。九个月的GAAP净收入结束了 9月30日,2012曾是 $64.7 million, 或者 $0.39相比 5320万美元, 或者 $0.32per diluted share, for the nine months ended 9月30日,2011。Adjusted net income for the nine months ended 9月30日,2012曾是 $91.6 million, 或者 $0.54相比 $87.7 million, 或者 $0.53per diluted share, for the nine months ended 9月30日,2011

Brukerended the third quarter of 2012 with cash and cash equivalents of 2.421亿美元, and net debt of 9480万美元

Adjusted operating margin, adjusted net income and adjusted EPS are non-GAAP measures that exclude certain items detailed later in this press release under the heading “Use of Non-GAAP Financial Measures.”

Bruker Scientific Instruments (BSI) Segment

在2012年第三季度,BSI收入为 $408.9 million, an increase of 3.6% compared to $394.6 millionfor the third quarter of 2011. Excluding the effects of acquisitions and foreign currency translation, BSI revenue for the third quarter of 2012 increased by 9.5% over the third quarter of 2011. BSI segment GAAP EPS in the third quarter of 2012 was $0.19相比 $0.15in the third quarter of 2011. BSI segment adjusted EPS in the third quarter of 2012 was $0.23相比 $0.22in the third quarter of 2011.

For the nine months ended 9月30日,2012,BSI收入是 $ 1,1.84亿美元, an increase of 6.8% compared to $1,108.3 millionin the first nine months of 2011. Excluding the effects of acquisitions and foreign currency translation, BSI revenue for the first nine months of 2012 increased by 10.6% over the comparable period in 2011. BSI segment GAAP EPS for the nine months ended 9月30日,2012曾是 $0.35相比 $0.37九个月结束了 9月30日,2011。BSI segment adjusted EPS for the nine months ended 9月30日,2012曾是 $0.49相比 $0.56在2011年的可比时期。

Bruker Energy&Supercon Technologies(最佳)细分市场

In the third quarter of 2012, BEST revenue was $42.4 million, an increase of 53.1% compared to 2770万美元在2011年第三季度。除了外币翻译的影响外,2012年第三季度的最佳收入比2011年第三季度增长了72.6%。2012年第三季度最佳收入包括 1640万美元from the previously announced Rosatom contract. BEST segment GAAP EPS in the third quarter of 2012 was $0.06,与每份稀释份额的GAAP损失相比 ($0.03)在2011年第三季度。2012年第三季度的最佳细分市场调整后的每股收益为 $0.06, compared to an adjusted net loss per diluted share of ($0.01)in the third quarter of 2011.

For the nine months ended 9月30日,2012,最佳收入是 $98.4 million, an increase of 23.3% compared to $79.8 millionin the first nine months of 2011. Excluding the effects of foreign currency translation, BEST revenue for the first nine months of 2012 increased by 35.5% over the comparable period in 2011. BEST segment GAAP EPS for the nine months ended 9月30日,2012曾是 $0.05, compared to a loss per diluted share of ($0.04)九个月结束了 9月30日,2011。BEST segment adjusted EPS for the nine months ended 9月30日,2012曾是 $0.06, compared to an adjusted net loss per diluted share of ($0.02)在2011年的可比时期。

评论和前景

弗兰克·劳基恩(Frank Laukien),总裁兼首席执行官 Bruker Corporation, commented: “Despite continued softening of demand in certain markets, we are pleased with our double-digit third quarter 2012 organic revenue growth rate, which in part benefitted from our still very significant backlog. Profitability also improved in the third quarter year-over-year. As a result of our third quarter performance, we are raising our full-year 2012 revenue guidance to a range of $ 1.73-17.6亿美元, and we are raising our full-year adjusted EPS guidance to $0.75 - $0.79per diluted share.”

使用非GAAP财务措施

In addition to the financial measures prepared in accordance with generally accepted accounting principles (GAAP), we use certain non-GAAP financial measures, including organic revenue growth, adjusted EPS, adjusted operating income, adjusted net income and adjusted operating margin, which exclude acquisition-related and restructuring and other charges. We exclude the above items because they are outside of our normal operations and/or, in certain cases, are difficult to forecast accurately for future periods. We believe that the use of non-GAAP measures helps investors to gain a better understanding of our core operating results and future prospects, consistent with how management measures and forecasts the company’s performance, especially when comparing such results to previous periods or guidance.

For example:

我们排除某些或收购相关指控credits and associated tax effects, including charges for the sale of inventories revalued at the date of acquisition, significant transaction costs such as legal fees and credits associated with bargain purchases. We exclude these costs because we do not believe they are indicative of our normal operating costs.

We exclude charges and tax effects associated with restructuring and business divestiture activities, such as reducing overhead and consolidating facilities. We believe that the costs related to these restructuring and business divestiture activities are not indicative of our normal operating costs.

We exclude the expense and tax effects associated with the amortization of acquisition-related intangible assets because a significant portion of the purchase price for acquisitions may be allocated to intangible assets that have lives of 3 to 12 years. Exclusion of these non-cash amortization expenses allows comparisons of operating results that are consistent over time for both our newly acquired and long-held businesses.

Bruker的管理层除了采取GAAP财务措施外,还采用了这些非GAAP措施,作为衡量公司的核心运营绩效并将这种绩效与前期和竞争对手的绩效进行比较的基础。管理层还在其财务和运营决策以及用于赔偿目的的情况下使用此类措施。

The non-GAAP financial measures of Bruker’s results of operations included in this press release are not meant to be considered superior to or a substitute for Bruker’s results of operations prepared in accordance with GAAP. Reconciliations of such non-GAAP financial measures to the most directly comparable GAAP financial measures are set forth in the accompanying tables.

EARNINGS CONFERENCE CALL

Bruker Corporationwill host an operator-assisted earnings conference call at 9:00 a.m. Eastern Timeon Monday, November 5, 2012。要收听网络广播,投资者可以去http://ir.bruker.comand click on the live web broadcast symbol. The webcast will be available through the Company web site for 30 days. Investors can also listen and participate on the telephone in the US and Canadaby calling 800-688-0796, or +1-617-614-4070 outside the US and Canada。Investors should refer to the Bruker Earnings Call. A telephone replay of the conference call will be available one hour after the conference call by dialing 888-286-8010 in the US and Canada, 或者+1-617-801-6888 outside the US and Canada, and then entering replay pass code 75969744. For more information, please visithttp://ir.bruker.com

CAUTIONARY STATEMENT OF BRUKER CORPORATION

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including, but not limited to, risks and uncertainties relating to adverse changes in conditions in the global economy and volatility in the capital markets, the integration of businesses we have acquired or may acquire in the future, changing technologies, product development and market acceptance of our products, the cost and pricing of our products, manufacturing, competition, dependence on collaborative partners and key suppliers, capital spending and government funding policies, the outcome of any actions that may be taken by government agencies in connection with FCPA compliance matters we have disclosed to them, changes in governmental regulations, realization of anticipated benefits from economic stimulus programs, intellectual property rights, litigation, and exposure to foreign currency fluctuations and other risk factors discussed from time to time in our filings with the Securities and Exchange Commission。These and other factors are identified and described in more detail in our filings with the SEC, including, without limitation, our annual report on Form 10-K for the year ended December 31, 2011, our most recent quarterly report on Form 10-Q and our current reports on Form 8-K. We expressly disclaim any intent or obligation to update these forward-looking statements other than as required by law.

Bruker Corporation

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)

三个月结束了 Nine Months Ended
(以数百万美元的价格,每股金额除外) 9月30日, 9月30日,
2012 2011 2012 2011
收入s $ 447.8 $ 418.4 $ 1,274.1 $ 1,176.6
Cost of revenues 237.2 229.0 684.9 641.8
Gross profit 210.6 189.4 589.2 534.8
Operating Expenses:
销售,一般和行政 102.9 102.1 317.9 289.6
Research and development 44.9 43.5 145.0 132.5
延期延期发行费用 - 3.4 - 3.4
其他费用,网络 2.5 2.9 9.5 7.4
Total operating expenses 150.3 151.9 472.4 432.9
Operating income 60.3 37.5 116.8 101.9
利息和其他收入(费用),净 (2.7 ) 1.9 (13.0 ) (8.8 )
Income before income taxes and noncontrolling
interest in consolidated subsidiaries 57.6 39.4 103.8 93.1
所得税提供 17.7 19.3 38.9 38.7
合并净收入 39.9 20.1 64.9 54.4
Net income attributable to noncontrolling
合并子公司的利益 0.2 0.3 0.2 1.2
归因于布鲁克公司的净收入 $ 39.7 $ 19.8 $ 64.7 $ 53.2
Net income per common share attributable to
布鲁克公司股东:
基本和稀释 $ 0.24 $ 0.12 $ 0.39 $ 0.32
Weighted average common shares outstanding:
Basic 166.0 165.6 165.9 165.4
167.3 166.9 167.3 167.0

Reconciliation of BSI and BEST reportable segments to the consolidated results of Bruker Corporation在三个月和九个月结束时 9月30日,2012和2011年(未经审计的)(a) (b)

细分数据 Bruker
(以数百万美元的价格,每股金额除外) Bruker Energy & 公司的, Consolidated
科学 Supercon Adjustments Bruker
截至2012年9月30日的三个月: Instruments 技术 & Eliminations Corporation
收入 $ 408.9 $ 42.4 $ (3.5 ) $ 447.8
Gross profit - GAAP (a) $ 191.6 $ 21.3 $ (2.3 ) $ 210.6
Cost of revenues charges (c) 1.1 - - 1.1
与采集相关无形资产的摊销(D) 4.7 - - 4.7
Gross profit - adjusted (b) $ 197.4 $ 21.3 $ (2.3 ) $ 216.4
毛利润率 - 调整后(b) 48.3 % 50.2 % 48.3 %
营业收入(损失)-GAAP(a) $ 48.0 $ 14.4 $ (2.1 ) $ 60.3
Cost of revenues charges (c) 1.1 - - 1.1
与采集相关无形资产的摊销(D) 5.5 - - 5.5
Other charges (e) 2.2 0.3 - 2.5
Operating income (loss) - adjusted (b) $ 56.8 $ 14.7 $ (2.1 ) $ 69.4
Operating margin - adjusted (b) 13.9 % 34.7 % 15.5 %
Net income (loss) attributable
to Bruker Corporation - GAAP (a) $ 31。0 $ 10.4 $ (1.7 ) $ 39.7
Cost of revenues charges (c) 1.1 - - 1.1
与采集相关无形资产的摊销(D) 5.2 - - 5.2
Other charges (e) 0.8 0.3 - 1.1
Net income (loss) attributable
to Bruker Corporation - adjusted (b) $ 38.1 $ 10.7 $ (1.7 ) $ 47.1
稀net income (loss) per common share
attributable to Bruker Corporation - GAAP (a) $ 0.19 $ 0.06 $ (0.01 ) $ 0.24
Cost of revenues charges (c) 0.01 - - 0.01
与采集相关无形资产的摊销(D) 0.03 - - 0.03
Other charges (e) - - - -
稀net income (loss) per common share
attributable to Bruker Corporation - adjusted (b) $ 0.23 $ 0.06 $ (0.01 ) $ 0.28
Weighted average shares outstanding: 167.3 167.3 166.0 167.3
截至2011年9月30日的三个月:
收入 $ 394.6 $ 27.7 $ (3.9 ) $ 418.4
Gross profit - GAAP (a) $ 184.5 $ 5.4 $ (0.5 ) $ 189.4
Cost of revenues charges (c) 1.3 - - 1.3
与采集相关无形资产的摊销(D) 4.1 0.1 - 4.2
Gross profit - adjusted (b) $ 189.9 $ 5.5 $ (0.5 ) $ 194.9
毛利润率 - 调整后(b) 48.1 % 19.9 % 46.6 %
营业收入(损失)-GAAP(a) $ 41.3 $ (3.3 ) $ (0.5 ) $ 37.5
Cost of revenues charges (c) 1.3 - - 1.3
与采集相关无形资产的摊销(D) 4.9 0.1 - 5.0
Other charges (e) 2.9 3.4 - 6.3
Operating income (loss) - adjusted (b) $ 50.4 $ 0.2 $ (0.5 ) $ 50.1
Operating margin - adjusted (b) 12.8 % 0.7 % 12.0 %
Net income (loss) attributable
to Bruker Corporation - GAAP (a) $ 25.7 $ (4.8 ) $ (1.1 ) $ 19.8
Cost of revenues charges (c) 0.9 - - 0.9
与采集相关无形资产的摊销(D) 4.8 0.1 - 4.9
Other charges (e) 5.4 3.4 - 8.8
Net income (loss) attributable
to Bruker Corporation - adjusted (b) $ 36。8 $ (1.3 ) $ (1.1 ) $ 34.4
稀net income (loss) per common share
attributable to Bruker Corporation - GAAP (a) $ 0.15 $ (0.03 ) $ - $ 0.12
Cost of revenues charges (c) 0.01 - - 0.01
与采集相关无形资产的摊销(D) 0.03 - - 0.03
Other charges (e) 0.03 0.02 - 0.05
稀net income (loss) per common share
attributable to Bruker Corporation - adjusted (b) $ 0.22 $ (0.01 ) $ - $ 0.21
Weighted average shares outstanding: 166.9 165.6 165.6 166.9
细分数据 Bruker
(以数百万美元的价格,每股金额除外) Bruker Energy & 公司的, Consolidated
科学 Supercon Adjustments Bruker
Nine Months Ended September 30, 2012: Instruments 技术 & Eliminations Corporation
收入 $ 1,184.0 $ 98.4 $ (8.3 ) $ 1,274.1
Gross profit - GAAP (a) $ 558.1 $ 34.1 $ (3.0 ) $ 589.2
Cost of revenues charges (c) 3.5 - - 3.5
与采集相关无形资产的摊销(D) 13.5 0.2 - 13.7
Gross profit - adjusted (b) $ 575.1 $ 34.3 $ (3.0 ) $ 606.4
毛利润率 - 调整后(b) 48.6 % 34.9 % 47.6 %
营业收入(损失)-GAAP(a) $ 106.3 $ 13.4 $ (2.9 ) $ 116.8
Cost of revenues charges (c) 3.5 - - 3.5
与采集相关无形资产的摊销(D) 16.0 0.2 - 16.2
Other charges (e) 8.1 1.4 - 9.5
Operating income (loss) - adjusted (b) $ 133.9 $ 15.0 $ (2.9 ) $ 146.0
Operating margin - adjusted (b) 11.3 % 15.2 % 11.5 %
Net income (loss) attributable
to Bruker Corporation - GAAP (a) $ 58.2 $ 8.9 $ (2.4 ) $ 64.7
Cost of revenues charges (c) 3.3 - - 3.3
与采集相关无形资产的摊销(D) 15.4 0.2 - 15.6
Other charges (e) 6.6 1.4 - 8.0
Net income (loss) attributable
to Bruker Corporation - adjusted (b) $ 83.5 $ 10.5 $ (2.4 ) $ 91.6
稀net income (loss) per common share
attributable to Bruker Corporation - GAAP (a) $ 0.35 $ 0.05 $ (0.01 ) $ 0.39
Cost of revenues charges (c) 0.02 - - 0.02
与采集相关无形资产的摊销(D) 0.09 - - 0.09
Other charges (e) 0.03 0.01 - 0.04
稀net income (loss) per common share
attributable to Bruker Corporation - adjusted (b) $ 0.49 $ 0.06 $ (0.01 ) $ 0.54
Weighted average shares outstanding: 167.3 167.3 165.9 167.3
Nine Months Ended September 30, 2011:
收入 $ 1,108.3 $ 79.8 $ (11.5 ) $ 1,176.6
Gross profit - GAAP (a) $ 521.1 $ 15.5 $ (1.8 ) $ 534.8
Cost of revenues charges (c) 10.4 - - 10.4
与采集相关无形资产的摊销(D) 10.7 0.3 - 11.0
Gross profit - adjusted (b) $ 542.2 $ 15.8 $ (1.8 ) $ 556.2
毛利润率 - 调整后(b) 48.9 % 19.8 % 47.3 %
营业收入(损失)-GAAP(a) $ 107.3 $ (3.6 ) $ (1.8 ) $ 101.9
Cost of revenues charges (c) 10.4 - - 10.4
与采集相关无形资产的摊销(D) 12.8 0.3 - 13.1
Other charges (e) 7.4 3.4 - 10.8
Operating income (loss) - adjusted (b) $ 137.9 $ 0.1 $ (1.8 ) $ 136.2
Operating margin - adjusted (b) 12.4 % 0.1 % 11.6 %
Net income (loss) attributable
to Bruker Corporation - GAAP (a) $ 62.2 $ (7.2 ) $ (1.8 ) $ 53.2
Cost of revenues charges (c) 8.6 - - 8.6
与采集相关无形资产的摊销(D) 12.2 0.3 - 12.5
Other charges (e) 10.0 3.4 - 13.4
Net income (loss) attributable
to Bruker Corporation - adjusted (b) $ 93.0 $ (3.5 ) $ (1.8 ) $ 87.7
稀net income (loss) per common share
attributable to Bruker Corporation - GAAP (a) $ 0.37 $ (0.04 ) $ (0.01 ) $ 0.32
Cost of revenues charges (c) 0.05 - - 0.05
与采集相关无形资产的摊销(D) 0.08 - - 0.08
Other charges (e) 0.06 0.02 - 0.08
稀net income (loss) per common share
attributable to Bruker Corporation - adjusted (b) $ 0.56 $ (0.02 ) $ (0.01 ) $ 0.53
Weighted average shares outstanding: 167.0 165.4 165.4 167.0

(a) “GAAP” (reported) results were determined in accordance with U.S. generally accepted accounting principles (GAAP).
(b)调整后的结果是非GAAP措施,对于收入措施,不包括某些收入的收入费用(有关详细信息,请参见注释);与采集相关的无形资产的摊销(有关详细信息,请参见注释D);重组和其他费用(有关详细信息,请参见注释);以及前面项目的税收后果。
(c)报告结果的三个和外祖母e month periods ended 9月30日,20122011年包括出售库存的费用以及在收购之日重估的物业,工厂和设备的折旧,与某些重组计划相关的商品成本的费用以及与某些专业磁铁相关的制造工程修改的费用。
(d)报告了三个月和九个月的结果 9月30日,2012and 2011 include non-cash charges for the amortization of acquisition-related intangible assets.
(e) Reported results in the three and nine month periods ended 9月30日,20122011年包括与法律合规性和考试相关的某些费用,与收购相关的成本以及与某些操作的重组和搬迁相关的其他费用。三个月和九个月结束了 9月30日,2012also includes a gain on sale of a business. The three and nine months ended 9月30日,2011also includes deferred BEST public offering costs that were expensed.

The charges described in notes c, d and e have been tax effected using enacted tax rates in the jurisdiction in which the charge was recorded. In addition, reported results for the three and nine months ended 9月30日,2011包括 $2.5 millionof provisions for income tax related to historical tax periods under audit.

Bruker Corporation

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited)

9月30日, December 31,
2012 2011
ASSETS
Current assets:
现金及现金等价物 $ 242.1 $ 246.0
Accounts receivable, net 264.8 282.8
Inventories 632.8 576.2
Other current assets 105.2 89.1
Total current assets 1,244.9 1,194.1
Property, plant and equipment, net 272.5 249.0
无形资产,净和其他长期资产 282.6 267.4
Total assets $ 1,800.0 $ 1,710.5
负债和股东权益
Current liabilities:
Current portion of long-term debt $ 38.9 $ 83.7
应付账款 78.0 72.3
客户的进步 265.3 268.6
其他流动负债 304.3 331.2
Total current liabilities 686.5 755.8
Long-term debt 298.0 219.4
其他长期负债 119.8 110.4
Commitments and contingencies
Shareholders' equity:
Common stock 1.7 1.7
Treasury stock (0.2 ) (0.2 )
留存收益 506.2 441.5
Other shareholders' equity 185.0 178.5
Total shareholders' equity attributable to Bruker Corporation 692.7 621.5
对合并子公司的非控制兴趣 3.0 3.4
Total shareholders' equity 695.7 624.9
Total liabilities and shareholders' equity $ 1,800.0 $ 1,710.5

Source: Bruker Corporation

Bruker Corporation
斯泰西Desrochers, + 1978-663-3660, ext. 1115
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