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布鲁克报告了2017年第四季度和财政年度财务业绩

2018年2月8日

BILLERICA, Mass.,,,, 2018年2月8日/美通bob体育竞技风暴社/ - 布鲁克公司(NASDAQ: BRKR) today announced financial results for its fourth quarter and fiscal year ended December 31, 2017

Bruker'srevenues for the fourth quarter of 2017 were $ 5.305亿​​美元,,,,an increase of 12.8% compared to the fourth quarter of 2016. In the fourth quarter of 2017, Bruker's同比的有机收入增长为4.0%,而收购的增长率为3.6%,外币变化的有利影响为5.2%。

Fourth quarter 2017 GAAP operating income was $93.7 million, 相比 $76.9 millionin the fourth quarter of 2016, and GAAP operating margin was 17.7%, versus 16.4% in the fourth quarter of 2016. Non-GAAP operating income was $110.8 million,,,,an increase of 20% over $92.0 millionin the fourth quarter of 2016. Bruker's2017年第四季度非GAAP营业利润率为20.9%,而2016年第四季度为19.6%。

Due to the effects of U.S. tax reform, Brukerrecorded a charge of 6890万美元在2017年第四季度,每股稀释份额损失了GAAP ($ 0.02),与每股稀释股(EPS)的GAAP收益相比 $0.43在2016年第四季度。2017年第四季度非GAAP EP是 $0.51,增加了11% $0.46in the fourth quarter of 2016. A reconciliation of non-GAAP to GAAP financial measures is provided in the tables accompanying this press release.

2017年, Bruker'srevenues increased 9.6% to 17.66亿美元, 相比 16.11亿美元in the year 2016. In 2017, Bruker'syear-over-year organic revenue growth was 3.6%, while growth from acquisitions was 4.8%, and the favorable effect from changes in foreign currency rates was 1.2%. Bruker's2017年,在Bruker Scientific Instruments(BSI)领域的有机收入增长为2.7%,最佳分区中的有机收入增长为2.7%,有机收入增长了2.7%,最佳分区(BRUKER SCICUNTIFIC)的增长率为2.7%,最佳分区(BSI)的有机收入增长为14.5%。

2017年,GAAP operating income was $214.7 million, 相比 $177.2 millionin 2016, and GAAP operating margin was 12.2%, versus 11.0% in 2016. Non-GAAP operating income was $276.1 millionin 2017, an increase of 16% over non-GAAP operating income of 2.379亿美元in 2016. Bruker's2017non-GAAP operating margin was 15.6%, compared to 14.8% in 2016.

2017财政年度GAAP稀释EP是 $0.49, 相比 $0.952016年。下降主要是由于2017年第四季度美国税收改革的影响。2017年的非GAAP EPS是 $1.21, 相比 $1.19如前所述,在2016年受益于异常有利的税率。

Frank Laukien,,,,President and CEO of Bruker,,,,commented: "We are encouraged by our finish to the year, as Brukerexceeded our recently increased full year 2017 revenue growth and non-GAAP EPS objectives. In 2017, low-single digit year-over-year organic revenue growth returned to our core Scientific Instruments segment, whereas our BEST segment delivered mid-teens organic revenue growth. For 2018, we expect further gradual improvement in our full year Scientific Instruments organic growth rate, while BEST revenues are expected to decline in the low single digits organically year-over-year."

Dr. Laukien continued: "We are also pleased that Brukerachieved 80 bps of non-GAAP operating margin expansion in 2017, even with 45 bps of acquisition headwinds and 20 bps of currency headwinds. For the full year 2018, we expect continued healthy non-GAAP operating margin expansion, despite a substantial currency headwind."

Fiscal Year 2018 Financial Outlook

Brukeris providing initial revenue growth, operating margin expansion and EPS guidance for fiscal year (FY) 2018 based on average foreign exchange rates for the month of January 2018

2018年财政年度的每股收益,公司预计收入的增长approximately 7%, including organic revenue growth of approximately 3%, and a foreign currency revenue tailwind of approximately 4%. The Company projects an increase in FY 2018 non-GAAP operating margin ranging from 50 basis points (bps) to 80 bps year-over-year, including an estimated 70 bps margin headwind from foreign currency translation. Finally, for FY 2018 Brukerexpects non-GAAP EPS between $1.34 and $1.38,,,,an 11% to 14% increase compared to 2017.

For the Company's outlook for FY 2018 non-GAAP operating margin and non-GAAP EPS, we are not able to provide without unreasonable effort the most directly comparable GAAP financial measures, or reconciliations to such GAAP financial measures on a forward-looking basis. Please see "Use of Non-GAAP Financial Measures" below for a description of items excluded from our expected non-GAAP operating margin and non-GAAP EPS.

Quarterly Earnings Call

Brukerwill host a conference call and webcast to discuss its financial results, business outlook, and related corporate and financial matters today at 4:30 p.m. Eastern Standard Time。To listen to the webcast, investors can go tohttp://ir.bruker.comand click on the "Events & Presentations" hyperlink. A slide presentation that will be referenced during the webcast will be posted to the Company's website shortly before the webcast begins. Investors can also listen to the earnings webcast via telephone by dialing 1-888-437-2685 (US toll free) or +1-412-317-6702 (international), and referencing " Bruker'sFourth Quarter and Fiscal Year 2017 Earnings Conference Call". A telephone replay of the conference call will be available by dialing 1-877-344-7529 (US toll free) or +1-412-317-0088 (international) and entering conference number: 10116535. The replay will be available beginning one hour after the end of the conference through 2018年3月8日

关于 布鲁克公司

For more than 55 years, Brukerhas enabled scientists to make breakthrough discoveries and develop new applications that improve the quality of human life. Bruker'shigh-performance scientific instruments and high-value analytical and diagnostic solutions enable scientists to explore life and materials at molecular, cellular and microscopic levels. In close cooperation with our customers, Brukeris enabling innovation, improved productivity and customer success in life science molecular research, in applied and pharma applications, in microscopy and nanoanalysis, and in industrial applications, as well as in cell biology, preclinical imaging, clinical phenomics and proteomics research, microbiology and molecular pathology research. For more information, please visit:www.energie2point0.com

Use of Non-GAAP Financial Measures

To supplement our consolidated financial statements, which are prepared and presented in accordance with U.S. generally accepted accounting principles (GAAP), we use the following non-GAAP financial measures in this press release and in the earnings webcast: non-GAAP gross profit; non-GAAP gross profit margin; non-GAAP operating income; non-GAAP operating margin; non-GAAP profit before tax; non-GAAP tax rate; non-GAAP net income and non-GAAP earnings per share. These non-GAAP measures exclude costs related to restructuring actions, acquisition and related integration expenses, amortization of acquired intangible assets, the estimated impact of US tax reform and other non-operational costs.

We also refer to organic revenue growth, return on invested capital and free cash flow in this press release and in the earnings webcast, which are also non-GAAP financial measures. We define the term organic revenue as GAAP revenue excluding the effect of changes in foreign currency translation rates and the effect of acquisitions and divestitures, and believe it is a useful measure to evaluate our continuing business. 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 because it indicates the amount of cash generated after additions to property, plant, and equipment that is available for, among other things, acquisitions, investments in our business, repayment of debt and return of capital to shareholders. We define return on invested capital (ROIC) as non-GAAP operating profit after income tax divided by average total capital, which we define as debt plus equity minus cash. We believe ROIC is an important measure of how effectively the Company invests its capital.

The presentation of these non-GAAP financial measures is not intended to be a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP and may be different from non-GAAP financial measures used by other companies, and therefore, may not be comparable among companies. We believe these non-GAAP financial measures provide meaningful supplemental information regarding our performance. Specifically, management believes that the non-GAAP measures mentioned above provide relevant and useful information which is widely used by analysts, investors and competitors in our industry, as well as by our management, in assessing both consolidated and business unit performance.

我们使用这些非一般公认会计准则evalua金融措施te our period-over-period operating performance because our management believes this provides a more comparable measure of our continuing business by adjusting for certain items that are not reflective of the underlying performance of our business. These measures may also be useful to investors in evaluating the underlying operating performance of our business and forecasting future results. We regularly use these 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 and use this information for our planning and forecasting activities.

Additional information relating to these non-GAAP financial measures and reconciliations to the most directly comparable GAAP financial measures is provided in the tables accompanying this press release following our GAAP financial statements and in our slide presentation, which is available through the "Earnings Release" hyperlink on Bruker'sInvestor Relations web site ir.bruker.com.

With respect to the Company's outlook for 2018 non-GAAP operating margin, non-GAAP EPS and non-GAAP tax rate, we are not providing the most directly comparable GAAP financial measures or corresponding reconciliations to such GAAP financial measures on a forward-looking basis, because we are unable to predict with reasonable certainty certain items that may affect such measures calculated and presented in accordance with GAAP without unreasonable effort. Our expected non-GAAP operating margin, tax rate and EPS ranges exclude primarily the future impact of restructuring actions, unusual gains and losses, acquisition-related expenses and purchase accounting fair value adjustments. These reconciling items are uncertain, depend on various factors outside our management's control and could significantly impact, either individually or in the aggregate, our future period operating margins, EPS and tax rate calculated and presented in accordance with GAAP.

Forward Looking Statements

任何包含在这个新闻稿whi语句ch do not describe historical facts may constitute forward-looking statements within the meaning of 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 indicated, 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, fluctuations in foreign currency exchange rates, our ability to successfully implement our restructuring initiatives, changing technologies, product development and market acceptance of our products, the cost and pricing of our products, manufacturing, competition, dependence on collaborative partners, key suppliers and contract manufacturers, capital spending and government funding policies, changes in governmental regulations, the use and protection of intellectual property rights, litigation, and other risk factors discussed from time to time in our filings with the Securities and Exchange Commission,,,,or。这些因素和其他因素在我们的文件中更详细地确定和描述,,,,including, without limitation, our annual report on Form 10-K for the year ended December 31, 2016并随后提交了第10 Q表格的季度报告。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关注 -

布鲁克公司




CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited)









(in millions)


December 31,


December 31,






2017


2016









资产














当前资产:






Cash and cash equivalents

$ 325.0


$ 342.4


短期投资

114.2


157.9


应收账款,网络

319.3


243.9


Inventories


486.2


440.4


其他流动资产

114.1


91.3



流动资产总额

1,358.8


1,275.9









财产,工厂和设备,网络

266.5


239.1

Intangibles, net and other long-term assets

323.2


293.4











Total assets

$ 1,948.5


$ 1,808.4









LIABILITIES AND SHAREHOLDERS' EQUITY












Current liabilities:





Current portion of long-term debt

$ -


$ 20.1


Accounts payable

90.8


86.1


Customer advances

111.7


149.0


Other current liabilities

322.0


269.5



Total current liabilities

524.5


524.7









长期债务


415.6


391.6

Other long-term liabilities

274.9


199.0









总股东权益

733.5


693.1











总负债和股东权益

$ 1,948.5


$ 1,808.4

布鲁克公司








凝结的合并运营陈述(未经审计)
















Three Months Ended


Twelve Months Ended

(in millions, except per share amounts)

December 31,


December 31,




2017


2016


2017


2016











Revenues

$ 530.5


$ 470.3


$ 1,765.9


$ 1,611.3

Cost of revenues

275.3


249.9


952.9


868.8











Gross profit

255.2


220.4


813.0


742.5











Operating expenses:








Selling, general and administrative

112.1


100.1


415.9


390.5

Research and development

43.5


38.2


162.7


149.0

Other charges, net

5.9


5.2


19.7


25.8

总运营费用

161.5


143.5


598.3


565.3











Operating income

93.7


76.9


214.7


177.2











Interest and other income (expense), net

(5.1)


11.5


(16.9)


0.4











Income before income taxes and noncontrolling









对合并子公司的兴趣

88.6


88.4


197.8


177.6

Income tax provision

91.6


19.3


117.5


23.1











合并净收入(损失)

(3.0)


69.1


80.3


154.5

归因于非控制的净收入









interests in consolidated subsidiaries

0.4


0.1


1.7


0.9

Net income (loss) attributable to Bruker Corporation

$ (3.4)


$ 69.0


$ 78.6


$ 153.6











Net income (loss) per common share attributable to









布鲁克公司shareholders:









Basic

$(0.02)


$ 0.43


$ 0.50


$ 0.95


Diluted

$(0.02)


$ 0.43


$ 0.49


$ 0.95











加权平均普通股已发行:









Basic

155.7


160.1


158.1


161.4


Diluted

155.7


160.7


159.1


162.2

布鲁克公司










CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)




















Three Months Ended


Twelve Months Ended

(in millions)



December 31,


December 31,





2017


2016


2017


2016

Cash flows from operating activities:









合并净收入(损失)


$ (3.0)


$ 69.1


$ 80.3


$ 154.5

Adjustments to reconcile consolidated net income to cash flows









来自操作活动:










折旧和摊销


15.7


13.9


63.9


54.3


Stock-based compensation expense


2.6


2.6


11.0


9.4


Deferred income taxes


33.2


9.4


28.2


(22.7)


Other non-cash expenses, net


5.5


(1.1)


11.6


24.1

Changes in operating assets and liabilities, net of acquisitions and divestitures:









Accounts receivable


(47.1)


(23.8)


(55.5)


(8.4)


Inventories



30.9


30.2


(6.6)


(43.2)


Accounts payable and accrued expenses


42.3


(8.1)


33.7


(19.6)


Income taxes payable, net


11.5


(7.0)


5.2


(26.8)


Deferred revenue



4.2


1.9


4.0


4.9


Customer advances



6.9


(0.8)


(27.8)


(7.3)


Other changes in operating assets and liabilities, net

1.0


4.5


6.4


11.6

净中科院h provided by operating activities


103.7


90.8


154.4


130.8












Cash flows from investing activities:










Purchases of short-term investments


-


(48.9)


(118.5)


(126.5)


Maturities of short-term investments


52.8


42.6


186.8


165.0


Cash paid for acquisitions, net of cash acquired

(0.5)


(23.1)


(66.3)


(24.3)


购买财产,工厂和设备

(12.4)


(11.1)


(43.7)


(37.1)


Proceeds from sales of property, plant and equipment

4.6


0.2


11.5


1.1

净中科院h provided by (used in) investing activities


44.5


(40.3)


(30.2)


(21.8)












Cash flows from financing activities:










Proceeds from revolving lines of credit


-


47.0


154.0


146.0


Repayment of revolving lines of credit


(65.0)


-


(130.0)


-


Repayment of note purchase agreement


-


-


(20.0)


-


Proceeds (Repayment) of other debt, net


0.1


(0.2)


(0.9)


(0.1)


Proceeds from issuance of common stock, net

4.7


1.3


20.0


11.5


Repurchase of common stock


(22.5)


(16.5)


(152.2)


(160.0)


Payment of dividends


(6.3)


(6.4)


(25.4)


(25.8)


付款考虑


-


-


(3.5)


-


Cash payments to noncontrolling interest

(0.5)


-


(1.0)


(0.7)


Excess tax benefit related to stock option awards

-


0.9


-


1.2

净中科院h (used in) provided by financing activities


(89.5)


26.1


(159.0)


(27.9)

汇率变更对现金,现金等效物和限制现金的影响

2.4


(13.0)


17.8


(6.4)

现金,现金等价物和限制现金的净变化

61.1


63.6


(17.0)


74.7

Cash, cash equivalents and restricted cash at beginning of period

267.8


282.3


345.9


271.2

Cash, cash equivalents and restricted cash at end of period

$ 328.9


$ 345.9


$ 328.9


$ 345.9

布鲁克公司








GAAP与非GAAP财务措施的对帐(未经审计)











(in millions, except per share amounts)

Three Months Ended December 31,


Twelve Months Ended December 31,


2017


2016


2017


2016

Reconciliation of Non-GAAP Operating Income, Non-GAAP Profit
Before Tax, Non-GAAP Net Income, and Non-GAAP EPS








GAAP Operating Income

$ 93.7


$ 76.9


$ 214.7


$ 177.2

Non-GAAP Adjustments:








Restructuring Costs

7.7


8.0


16.2


20.8

Acquisition-Related Costs

0.8


0.7


10.2


11.1

购买了无形的摊销

7.0


5.5


29.6


21.7

其他费用

1.6


0.9


5.4


7.1

Total Non-GAAP Adjustments:

$ 17.1


$ 15.1


$ 61.4


$ 60.7









非GAAP营业收入

$ 110.8


$ 92.0


$ 276.1


$ 237.9

Non-GAAP Operating Margin

20.9%


19.6%


15.6%


14.8%









Non-GAAP Interest & Other Expense, net

(4.6)


2.3


(17.5)


(8.8)

Non-GAAP Profit Before Tax

106.2


94.3


258.6


229.1









Non-GAAP Income Tax Provision

(26.0)


(20.5)


(64.7)


(35.9)

Non-GAAP Tax Rate

24.5%


21.7%


25.0%


15.7%









少数派利益

(0.4)


(0.1)


(1.7)


(0.9)









归因于布鲁克的非GAAP净收入

79.8


73.7


192.2


192.3









Weighted Average Shares Outstanding (Diluted)

156.9


160.7


159.1


162.2









Non-GAAP Earnings Per Share

$ 0.51


$ 0.46


$ 1.21


$ 1.19

















GAAP和非GAAP毛利润的对帐








GAAP毛利润

$ 255.2


$ 220.4


$ 813.0


$ 742.5

Non-GAAP Adjustments:








Restructuring Costs

4.0


4.6


5.6


11.0

Acquisition-Related Costs

0.1


(0.2)


5.7


2.1

购买了无形的摊销

5.6


4.7


24.0


18.7

其他费用

0.1


-


0.8


0.1

Total Non-GAAP Adjustments:

9.8


9.1


36.1


31.9

Non-GAAP Gross Profit

$ 265.0


$ 229.5


$ 849.1


$ 774.4

非GAAP毛利率

50.0%


48.8%


48.1%


48.1%









GAAP和非GAAP税率的对帐








GAAP Tax Rate

103.4%


21.8%


59.4%


13.0%

Non-GAAP Adjustments:








Tax Impact of Non-GAAP Adjustments

-1.6%


-0.2%


-0.1%


-1.0%

Tax Authority Settlements

0.0%


0.1%


0.0%


0.1%

Valuation Allowance Release

0.0%


0.3%


0.0%


3.7%

美国税收改革 - 通行费

-62.1%


0.0%


-27.8%


0.0%

美国税收改革 - 税率变动

-1.3%


0.0%


-0.6%


0.0%

U.S. Tax Reform- Change in APB 23

-14.4%


0.0%


-6.5%


0.0%

Other Discrete Items

0.5%


-0.3%


0.6%


-0.1%

Total Non-GAAP Adjustments:

-78.9%


-0.1%


-34.4%


2.7%

Non-GAAP Tax Rate

24.5%


21.7%


25.0%


15.7%









Reconciliation of GAAP and Non-GAAP Interest & Other Income (Expense), net







GAAP利息和其他收入(费用),净

$ (5.1)


$ 11.5


$(16.9)


$ 0.4

Non-GAAP Adjustments:








Bargain Purchase Gain

0.5


(9.2)


(0.6)


(9.2)

Non-GAAP Interest & Other Income (Expense), net

$ (4.6)


$ 2.3


$(17.5)


$(8.8)









Reconciliation of GAAP and Non-GAAP Earnings Per Share (Diluted)







GAAP Earnings Per Share (Diluted)

$(0.02)


$ 0.43


$ 0.49


$ 0.95

Non-GAAP Adjustments:








Restructuring Costs

0.05


0.05


0.10


0.13

Acquisition-Related Costs

0.01


0.01


0.06


0.07

购买了无形的摊销

0.04


0.03


0.19


0.14

其他费用

0.01


0.01


0.03


0.04

Bargain Purchase Gain

0.00


(0.06)


-


(0.06)

Income Tax Rate Differential

0.42


(0.01)


0.33


(0.08)

Total Non-GAAP Adjustments:

0.53


0.03


0.72


0.24

非GAAP每股收益(稀释)

$ 0.51


$ 0.46


$ 1.21


$ 1.19









GAAP运营现金流量和非GAAP自由现金流的对帐







GAAP运营现金流

$ 103.7


$ 90.8


$ 154.4


$ 130.8

Non-GAAP Adjustments:








购买财产,工厂和设备

(12.4)


(11.1)


(43.7)


(37.1)

Non-GAAP Free Cash Flow

$ 91.3


$ 79.7


$ 110.7


$ 93.7









Reconciliation of GAAP Revenue and Non-GAAP Revenue








公认会计准则收入可比之前的时期

$ 470.3


$ 478.2


$ 1,611.3


$ 1,623.8

Non-GAAP Adjustments:








Acquisitions and divestitures

16.8


8.9


77.2


32.4

Currency

24.6


(6.4)


19.6


(8.3)

Organic

18.8


(10.4)


57.8


(36.6)

Total Non-GAAP Adjustments:

60.2


(7.9)


154.6


(12.5)

非GAAP收入

$ 530.5


$ 470.3


$ 1,765.9


$ 1,611.3

Organic Revenue Growth

4.0%


-2.2%


3.6%


-2.3%









Reconciliation of Non-GAAP Return on Invested Capital (ROIC)















非GAAP营业收入(from above)

$ 110.8


$ 92.0


$ 276.1


$ 237.9

Less: Non-GAAP Income Tax Provision (from above)

(26.0)


(20.5)


(64.7)


(35.9)

非GAAP营业收入after Tax

$ 84.8


$ 71.5


$ 211.4


$ 202.0









平均投资资本:








Average Long-Term Debt

$ 448.1


$ 368.1


$ 403.6


$ 328.8

Average Current portion of Long-Term Debt

0.0


20.1


10.1


10.4

Average Total Shareholders' Equity

736.7


697.0


713.3


713.0

较少:平均现金和现金等价物

(294.5)


(310.5)


(333.7)


(304.8)

Average Total Invested Capital

$ 890.3


$ 774.7


$ 793.3


$ 747.4









Return on Invested Capital (ROIC)

9.5%


9.2%


26.6%


27.0%

Days Inventory Outstanding is calculated as follows: GAAP Average Inventory balance divided by (GAAP Revenue less Non-GAAP Gross Profit (defined above))






应付日期未偿还的天数如下:GAAP平均应付帐款余额除以(GAAP收入较少非GAAP毛利润(上述定义)加上GAAP库存余额的变化)









Days Sales Outstanding is calculated as follows: GAAP Average Accounts Receivable balance divided by GAAP Revenue

Contacts
Miroslava Minkova
Head of Investor Relations
布鲁克公司
T: +1 (978) 663 – 3660, ext. 1479
E:[email protected]

CisionView original content with multimedia:http://www.prnewswire.com/news-releases/bruker-reports-fourth-quarter-and-fiscal-year-2017-financial-results-300596043.html

SOURCE 布鲁克公司

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