Bruker (BRKR) Reports In-Line Q1 EPS, Beats on Revenue; Offers FY17 EPS Guidance
Bruker (NASDAQ: BRKR) reported Q1 EPS of $0.19, in-line with the analyst estimate of $0.19. Revenue for the quarter came in at $384.9 million versus the consensus estimate of $372.7 million.
Bruker sees FY2017 EPS of $1.05-$1.09, versus the consensus of $1.08.
Fiscal Year 2017 Financial Outlook
For FY 2017, Bruker is maintaining its organic revenue growth, non-GAAP operating margin expansion and non-GAAP EPS outlook. Bruker is adjusting its reported revenue growth outlook to reflect recent changes in foreign currency translation rates. The Company now expects reported revenue growth of 2% to 3.5%, which continues to include organic revenue growth of 1% to 2%, and growth from acquisitions of 3.5% to 4%. Changes in foreign currency rates are now expected to have a negative impact on reported revenues of approximately 2.5%.
Bruker's outlook for non-GAAP operating margin expansion and non-GAAP EPS remains unchanged. Including the effects of our 2016 and early 2017 acquisitions, the Company continues to project an increase in FY 2017 non-GAAP operating margin of 40 bps to 70 bps year-over-year. This includes an approximate 40 bps headwind in FY 2017 from recent acquisitions. For FY 2017, Bruker continues to expect non-GAAP EPS of $1.05 to $1.09.
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