Bruker (BRKR) Tops Q1 EPS by 4c
Bruker (NASDAQ: BRKR) reported Q1 EPS of $0.14, $0.04 better than the analyst estimate of $0.10. Revenue for the quarter came in at $353.5 million versus the consensus estimate of $369.8 million.
“Our first quarter 2015 revenues were lower due to foreign exchange rates, divestitures, and a decline in our nuclear magnetic resonance (NMR) business as a result of weaker NMR demand in 2014,” said Frank Laukien, President and CEO of Bruker. “Despite the lower revenues, we are pleased to report higher non-GAAP operating margins, an increase in non-GAAP EPS and improved free cash flow. Our lower spending and improved profit margins are the result of our ongoing restructuring programs and the product line divestitures we completed in our Chemical & Applied Markets (CAM) division last year. On a currency-adjusted basis, we experienced healthy order growth in the first quarter of 2015, with strength in our NMR business.”
Laukien continued: “We continue to make good progress with our profitable growth initiative. Bruker has recently launched and received orders for important new products in adjacent markets and for emerging applications. Examples include key orders for our next-generation explosives trace detection (ETD) systems for airport security; the launch of our next-generation GigaHertz NMR technology for studying the biological functions and pathogenesis of intrinsically disordered proteins (IDPs); FDA clearance of our expanded MALDI Biotyper claim in the United States; and the European launch of our new, high-end MALDI Biotypersmart system and of our CE-marked MALDI Sepsityper solution for rapid microbial identification from positive blood cultures.”
2015 Financial Outlook
Bruker is maintaining its current financial outlook for 2015. The Company expects to generate organic revenue growth of approximately one percent, and expects to increase its non-GAAP operating margin by more than 100 basis points compared to 2014. Non-GAAP EPS is expected to be flat in 2015, compared to 2014.
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