BILLERICA, Mass.--(BUSINESS WIRE)--
Bruker Corporation(NASDAQ: BRKR) today reported financial results for its first quarter ended
2014年3月31日。
Bruker’s revenues for the first quarter of 2014 grew by 7.7 percent to
4.237亿美元相比,
3.934亿美元在2013年第一季度。Excluding a 1.1 percent net positive effect from acquisitions and divestitures,
Brukerreported year-over-year organic revenue growth of 6.6 percent in the first quarter of 2014. Changes in foreign exchange rates had a negligible effect on revenues during the quarter.
Bruker报告了2014年第一季度的GAAP营业收入
2060万美元, or 4.9% of revenues, compared to
$12.2 million,或3.1%的收入, in the first quarter of 2013. First quarter 2014 GAAP earnings per diluted share (EPS) were
$0.05，与EPS相比
$0.03在2013年第一季度。
On a non-GAAP basis,
Brukerreported first quarter 2014 operating income of
3210万美元, or 7.6% of revenues, compared to
$23.6 million, or 6.0% of revenues, in the first quarter of 2013. First quarter 2014 non-GAAP EPS were
$0.11相比,
$0.082013年第一季度。2014年第一季度的自由现金流为
930万美元, a
$42.1 millionincrease compared to
($32.8) million在2013年第一季度。A reconciliation of GAAP to non-GAAP financial measures is provided in the Company’s financial tables accompanying this press release.
“Our year is off to a reasonable start, with year-over-year revenue growth and non-GAAP operating margin expansion compared to a relatively weak first quarter of 2013,” said
弗兰克·劳基恩（Frank Laukien）, President and CEO of
Bruker。“Our research, applied and clinical markets are healthy, whereas our industrial markets grew slowly after declining last year. Looking ahead, we remain on track to deliver our full-year 2014 guidance, but we may see variability in our quarterly results.”
Bruker是维持其全年2014指导of year-over-year revenue growth of 3 to 4 percent and non-GAAP earnings per share growth of 10 to 14 percent.
“Good revenue growth combined with control over operating expenses enabled us to deliver solid operating margin expansion in the first quarter compared to Q1 2013,” said
查尔斯·瓦格纳, Chief Financial Officer of
Bruker。“We generated growth in all of our Groups and drove year-over-year improvements in working capital and free cash flow. Our focus for the remainder of the year will be on continuing to transform our supply chain and launching initiatives that will further lower our production costs.”
季度收益电话
Brukerwill host a conference call and webcast to discuss its financial results, business outlook, and related corporate and financial matters at
下午4:45东部日光时间今天。要收听网络广播，投资者可以去http://ir.bruker.com然后单击“事件与演示文稿”超链接。bob综合客户端app网络广播期间将引用的幻灯片演示将在网络广播开始前不久将其发布到公司的网站上。投资者还可以通过电话拨打1-877-270-2148或 +1-412-902-6510并引用“布鲁克2014年第一季度的2014年收益电话会议”，从而通过电话收听收益网络广播。可以通过拨打1-877-344-7529或 +1-412-317-0088和输入会议编号：100453335的电话重播电话会议的电话重播。
May 13, 2014at
9:00 a.m. EDT。
Use of Non-GAAP Financial Measures
非GAAP财务措施
Bruker Corporation在本新闻稿中，是非GAAP毛利润；非GAAP总利润率；非GAAP营业收入；非GAAP运营利润；非GAAP利息和其他收入（费用）净；税前的非GAAP利润；非GAAP税率；非GAAP净收入；非GAAP每股收益；和自由现金流。 These non-GAAP measures exclude costs related to restructuring costs, acquisition and related integration expenses, amortization of acquired intangible assets and other costs that are non-recurring in nature. There are limitations in using non-GAAP financial measures as they are not prepared in accordance with U.S. generally accepted accounting principles and may be different from non-GAAP financial measures used by other companies.
We believe that the non-GAAP financial measures provide useful and supplementary information to investors regarding our quarterly and annual performance. It is our belief that these non-GAAP financial measures are particularly important as
Brukerimplements restructuring initiatives to expand operating margins. The financial impact of these activities, particularly restructuring activities, can be large and may adversely affect the comparability of our results from period-to-period. We define free cash flow as net cash provided by operating activities less additions to property, plant, and equipment. We believe free cash flow is a useful measure to evaluate our business as it indicates the amount of cash generated after additions to property, plant, and equipment that is available for, among other things, strategic acquisitions, investments in our business, and repayment of debt.
We regularly use non-GAAP financial measures internally to understand, manage, and evaluate our business results and make operating decisions. We also measure our employees and compensate them, in part, based on such non-GAAP measures. For the same reasons, we also use this information for our forecasting activities.
非GAAP财务措施不应被视为根据GAAP准备的财务绩效措施的替代或优越的措施。非GAAP财务措施旨在补充GAAP财务指标，并与之共处。它们的价值有限，因为它们排除了对我们报告的结果产生重大影响的费用，因此，不应将其作为评估我们的财务业绩的唯一财务指标。鼓励投资者审查财务措施与本新闻稿伴随的表中提供的最直接可比性GAAP财务指标的对帐。
前瞻性语句
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, 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
2013年12月31日。除法律要求外，我们明确违反了更新这些前瞻性陈述的任何意图或义务。
-tables follow-
|
| Bruker Corporation |
| CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) |
|
|
|
|
|
|
|
| （以百万计） |
|
|
March 31, |
|
|
December 31, |
|
|
|
2014 |
|
|
2013 |
|
|
|
|
|
|
|
| ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Current assets: |
|
|
|
|
|
|
| Cash and cash equivalents |
|
|
$ |
454.0 |
|
|
$ |
438.7 |
| Accounts receivable, net |
|
|
|
295.0 |
|
|
|
307.6 |
| Inventories |
|
|
|
620.5 |
|
|
|
589.8 |
| Other current assets |
|
|
|
107.2 |
|
|
|
95.8 |
Total current assets |
|
|
|
1,476.7 |
|
|
|
1,431.9 |
|
|
|
|
|
|
|
| Property, plant and equipment, net |
|
|
|
296.7 |
|
|
|
299.5 |
| Intangible and other long-term assets |
|
|
|
254.3 |
|
|
|
256.9 |
|
|
|
|
|
|
|
| 总资产 |
|
|
$ |
2,027.7 |
|
|
$ |
1,988.3 |
|
|
|
|
|
|
|
| LIABILITIES AND SHAREHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Current liabilities: |
|
|
|
|
|
|
| Current portion of long-term debt |
|
|
$ |
0.7 |
|
|
$ |
0.7 |
| Accounts payable |
|
|
|
116.4 |
|
|
|
74.8 |
| Customer advances |
|
|
|
251.2 |
|
|
|
258.6 |
| Other current liabilities |
|
|
|
302.8 |
|
|
|
314.5 |
| Total current liabilities |
|
|
|
671.1 |
|
|
|
648.6 |
|
|
|
|
|
|
|
| Long-term debt |
|
|
|
354.1 |
|
|
|
354.3 |
| Other long-term liabilities |
|
|
|
134.2 |
|
|
|
135.2 |
|
|
|
|
|
|
|
| Total shareholders' equity |
|
|
|
868.3 |
|
|
|
850.2 |
|
|
|
|
|
|
|
| Total liabilities and shareholders' equity |
|
|
$ |
2,027.7 |
|
|
$ |
1,988.3 |
|
|
|
|
|
|
|
|
|
| Bruker Corporation |
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) |
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
| (in millions, except per share amounts) |
|
|
March 31, |
|
|
|
2014 |
|
|
2013 |
|
|
|
|
|
|
|
| 收入 |
|
|
$ |
423.7 |
|
|
|
$ |
393.4 |
|
| Cost of revenues |
|
|
|
244.0 |
|
|
|
|
218.9 |
|
|
|
|
|
|
|
|
| Gross profit |
|
|
|
179.7 |
|
|
|
|
174.5 |
|
|
|
|
|
|
|
|
| Operating expenses: |
|
|
|
|
|
|
| Selling, general and administrative |
|
|
|
109.5 |
|
|
|
|
106.8 |
|
| 研究与开发 |
|
|
|
46.0 |
|
|
|
|
49.4 |
|
| Other charges, net |
|
|
|
3.6 |
|
|
|
|
6.1 |
|
| Total operating expenses |
|
|
|
159.1 |
|
|
|
|
162.3 |
|
|
|
|
|
|
|
|
| 营业收入 |
|
|
|
20.6 |
|
|
|
|
12.2 |
|
|
|
|
|
|
|
|
| Interest and other income (expense), net |
|
|
|
（4.9 |
) |
|
|
|
(3.9 |
) |
|
|
|
|
|
|
|
Income before income taxes and noncontrolling interest in consolidated subsidiaries |
|
|
|
15.7 |
|
|
|
|
8.3 |
|
| Income tax provision |
|
|
|
5.7 |
|
|
|
|
2.6 |
|
|
|
|
|
|
|
|
| Consolidated net income |
|
|
|
10.0 |
|
|
|
|
5.7 |
|
Net income attributable to noncontrolling interests in consolidated subsidiaries |
|
|
|
1.3 |
|
|
|
|
0.3 |
|
| Net income attributable to Bruker Corporation |
|
|
$ |
8.7 |
|
|
|
$ |
5.4 |
|
|
|
|
|
|
|
|
Net income per common share attributable to Bruker Corporation shareholders: |
|
|
|
|
|
|
| 基本的 |
|
|
$ |
0.05 |
|
|
|
$ |
0.03 |
|
| Diluted |
|
|
$ |
0.05 |
|
|
|
$ |
0.03 |
|
|
|
|
|
|
|
|
| Weighted average common shares outstanding: |
|
|
|
|
|
|
| 基本的 |
|
|
|
167.3 |
|
|
|
|
166.4 |
|
| Diluted |
|
|
|
169.4 |
|
|
|
|
168.1 |
|
|
|
|
|
|
|
|
|
|
|
|
| Bruker Corporation |
| 凝结的现金流量综合陈述（未经审计） |
|
|
|
|
|
|
|
| （以百万计） |
|
|
截至3月31日的三个月， |
|
|
|
2014 |
|
|
2013 |
| Cash flows from operating activities: |
|
|
|
|
|
|
| Consolidated net income |
|
|
$ |
10.0 |
|
|
|
$ |
5.7 |
|
| Adjustments to reconcile consolidated net income to cash flows |
|
|
|
|
|
|
| from operating activities: |
|
|
|
|
|
|
| Depreciation and amortization |
|
|
|
15.2 |
|
|
|
|
15.2 |
|
| Write-down of demonstration inventories to net realizable value |
|
|
|
7.6 |
|
|
|
|
7.8 |
|
| 基于股票的薪酬费用 |
|
|
|
2.0 |
|
|
|
|
1.8 |
|
| Deferred income taxes |
|
|
|
0.3 |
|
|
|
|
(2.6 |
) |
| Gain on disposal of product line |
|
|
|
(0.3 |
) |
|
|
|
(0.9 |
) |
| Other non-cash expenses, net |
|
|
|
1.0 |
|
|
|
|
(0.3 |
) |
| Changes in operating assets and liabilities, net of acquisitions: |
|
|
|
|
|
|
| Accounts receivable |
|
|
|
12.7 |
|
|
|
|
8.7 |
|
| Inventories |
|
|
|
(37.9 |
) |
|
|
|
(37.0 |
) |
| 应付账款和应计费 |
|
|
|
21.9 |
|
|
|
|
（7.8 |
) |
| Income taxes payable |
|
|
|
2.0 |
|
|
|
|
（4.0 |
) |
| Deferred revenue |
|
|
|
5.0 |
|
|
|
|
2.9 |
|
| Customer advances |
|
|
|
(7.6 |
) |
|
|
|
3.7 |
|
| 运营资产和负债的其他变化，净 |
|
|
|
(13.4 |
) |
|
|
|
(11.4 |
) |
| Net cash provided by (used in) operating activities |
|
|
|
18.5 |
|
|
|
|
(18.2 |
) |
|
|
|
|
|
|
|
| Cash flows from investing activities: |
|
|
|
|
|
|
| 用于收购的现金，收购现金的净额 |
|
|
|
- |
|
|
|
|
(0.8 |
) |
| Disposal of product line |
|
|
|
0.7 |
|
|
|
|
0.5 |
|
| Purchases of property, plant and equipment |
|
|
|
(9.2 |
) |
|
|
|
(14.6 |
) |
| 物业，工厂和设备的销售 |
|
|
|
0.6 |
|
|
|
|
0.6 |
|
| Net cash used in investing activities |
|
|
|
（7.9 |
) |
|
|
|
(14.3 |
) |
|
|
|
|
|
|
|
| Cash flows from financing activities: |
|
|
|
|
|
|
| Repayment of other debt, net |
|
|
|
(0.2 |
) |
|
|
|
(0.7 |
) |
| Proceeds from issuance of common stock, net |
|
|
|
3.0 |
|
|
|
|
4.1 |
|
| Changes in restricted cash |
|
|
|
(0.3 |
) |
|
|
|
(3.1 |
) |
| Net cash provided by financing activities |
|
|
|
2.5 |
|
|
|
|
0.3 |
|
| Effect of exchange rate changes on cash and cash equivalents |
|
|
|
2.2 |
|
|
|
|
(9.0 |
) |
| 现金和现金当量的净变化 |
|
|
|
15.3 |
|
|
|
|
（41.2 |
) |
| Cash and cash equivalents at beginning of period |
|
|
|
438.7 |
|
|
|
|
310.6 |
|
| 现金和现金当量在期末 |
|
|
$ |
454.0 |
|
|
|
$ |
269.4 |
|
|
|
|
|
|
|
|
|
|
|
|
| Bruker Corporation |
| RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES* (unaudited) |
|
|
|
|
|
|
|
| (in millions, except per share amounts) |
|
|
截至3月31日的三个月， |
|
|
|
2014 |
|
|
2013 |
| Reconciliation of Non-GAAP Operating Income, Non-GAAP Profit Before Tax, Non-GAAP Net Income, and Non-GAAP EPS |
|
|
|
|
|
|
|
|
|
|
|
|
|
| GAAP营业收入 |
|
|
$ |
20.6 |
|
|
|
$ |
12.2 |
|
| Non-GAAP Adjustments: |
|
|
|
|
|
|
| 重组成本 |
|
|
|
2.4 |
|
|
|
|
3.2 |
|
| 与收购有关的成本 |
|
|
|
1.1 |
|
|
|
|
0.6 |
|
| Purchased Intangible Amortization |
|
|
|
5.2 |
|
|
|
|
5.1 |
|
| Other Costs |
|
|
|
2.8 |
|
|
|
|
2.5 |
|
| Total Non-GAAP Adjustments: |
|
|
$ |
11.5 |
|
|
|
$ |
11.4 |
|
|
|
|
|
|
|
|
| Non-GAAP Operating Income |
|
|
$ |
32.1 |
|
|
|
$ |
23.6 |
|
| Non-GAAP Operating Margin |
|
|
|
7.6 |
% |
|
|
|
6.0 |
% |
|
|
|
|
|
|
|
| 非GAAP利息和其他收入（费用），净 |
|
|
|
（5.2 |
) |
|
|
|
（4.8 |
) |
| Non-GAAP Profit Before Tax |
|
|
|
26.9 |
|
|
|
|
18.8 |
|
|
|
|
|
|
|
|
| Non-GAAP Income Tax Provision |
|
|
|
（6.9 |
) |
|
|
|
（5.1 |
) |
| 非GAAP税率 |
|
|
|
25.5 |
% |
|
|
|
27.1 |
% |
|
|
|
|
|
|
|
| Minority Interest |
|
|
|
(1.3 |
) |
|
|
|
(0.3 |
) |
|
|
|
|
|
|
|
| Non-GAAP Net Income Attributable to Bruker |
|
|
|
18.7 |
|
|
|
|
13.4 |
|
|
|
|
|
|
|
|
| Weighted Average Shares Outstanding (Diluted) |
|
|
|
169.4 |
|
|
|
|
168.1 |
|
|
|
|
|
|
|
|
| Non-GAAP Earnings Per Share |
|
|
$ |
0.11 |
|
|
|
$ |
0.08 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Reconciliation of GAAP and Non-GAAP Gross Profit |
|
|
|
|
|
|
| GAAP Gross Profit |
|
|
$ |
179.7 |
|
|
|
$ |
174.5 |
|
| Non-GAAP Adjustments: |
|
|
|
|
|
|
| 重组成本 |
|
|
|
2.2 |
|
|
|
|
- |
|
| 与收购有关的成本 |
|
|
|
0.5 |
|
|
|
|
0.2 |
|
| Purchased Intangible Amortization |
|
|
|
4.8 |
|
|
|
|
4.8 |
|
| Total Non-GAAP Adjustments: |
|
|
|
7.5 |
|
|
|
|
5.0 |
|
| Non-GAAP Gross Profit |
|
|
$ |
187.2 |
|
|
|
$ |
179.5 |
|
| Non-GAAP Gross Margin |
|
|
|
44.2 |
% |
|
|
|
45.6 |
% |
|
|
|
|
|
|
|
| Reconciliation of GAAP and Non-GAAP Interest & Other Income (Expense), net |
|
|
|
|
|
|
| GAAP Interest & Other Income (Expense), net |
|
|
$ |
（4.9 |
) |
|
|
$ |
(3.9 |
) |
| Non-GAAP Adjustments: |
|
|
|
|
|
|
| 销售产品线 |
|
|
|
(0.3 |
) |
|
|
|
(0.9 |
) |
| 非GAAP利息和其他收入（费用），净 |
|
|
$ |
（5.2 |
) |
|
|
$ |
（4.8 |
) |
|
|
|
|
|
|
|
*请参阅我们的新闻稿，以便使用非GAAP措施的完整说明。
Source:
Bruker Corporation