SlideShare une entreprise Scribd logo
1  sur  18
Télécharger pour lire hors ligne
Bruker Corporation (NASDAQ: BRKR)
Q1 2014 Earnings Presentation
Frank Laukien, President & CEO
Charles Wagner, EVP & CFO
Joshua Young, VP, Investor RelationsMay 7, 2014
Innovation with Integrity
Any statements contained in this presentation 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, 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, 2013. We will also be referencing non-GAAP financial
measures in this presentation. A reconciliation of non-GAAP to GAAP results is available in our earnings
press release and in this presentation.
Bruker Corporation
Safe Harbor & Reg. G Statement
© Bruker Corporation 2
Q1 2014 Business Update
© Bruker Corporation 3
$0.08
$0.11
Q1 2013
Q1 2014
Q1 Financials
Revenues [$ m]
Non-GAAP EPS
Solid start to the year with operating margin
expansion and growth from all three BSI Groups
+8%
+38%
© Bruker Corporation 4
393
424
Q1 13 Q1 14
Q1 2014 Performance
 Organic revenue growth of ~7% y-o-y
1.Double-digit growth in CALID, driven by
Optics and Life Science divisions; easy
comparison to weak Q1 2013
2.Mid-single digit revenue growth in BioSpin
and BMAT Groups
3.Continued revenue growth in Europe
 Non-GAAP Operating margin expands by 160
basis points; operating expense control more
than offsets currency impact on gross margins
 38% non-GAAP EPS growth in Q1 2014
compared to Q1 2013
 Free cash flow improves by $42M, totaling $9M
in Q1 2014 compared to ($33M) in Q1 2013
Bruker BioSpin Group
 Mid-single digit revenue growth, with strongest growth in Asia
Pacific, continued growth in Europe
 Quarter-to-quarter fluctuations in product/geographic mix
 Pre-Clinical Imaging Division posts a strong quarter driven by MRI
revenue growth; improving molecular imaging trends
 Outsourcing programs in Germany and France on track
Bruker CALID Group
 Double-digit growth in revenues, compared to weak Q1 2013
 Optics and Life Science & Clinical (LSC) Divisions drive growth
 Optics: new products Tango and Lumos well-accepted
 LSC: MALDI Biotyper good momentum, Q-TOF products
perform well; divested Leipzig machine shop in Q1 2014
 CAM Division posts weak performance; Sales management
combined with LSC in Q1 2014; review of cost structure underway
 Detection Division revenues dip due to export license delays
5© Bruker Corporation
GROUP OVERVIEW:
Q1 2014 Performance
Bruker MAT Group
 BMAT Group delivers mid-single digit revenue growth, compared
to a weak Q1 2013
 General industrial markets stabilize, but no recovery yet in
microelectronics markets
 Research and academic markets remain healthy
 BAXS, BNS, and BNA Divisions all grew, compared to Q1 2013;
BNS benefited from fluorescence microscopy acquisition
 Profitability improved compared to Q1 2013, as operating
expenses were reduced by second–half 2013 restructuring actions
BEST Segment
 Revenue growth of 12% and non-GAAP operating margin of 8.0%
 Growth benefits from revenue timing, and margin benefits from
2013 cost initiatives
 Contract renewals with key MRI customers for superconducting
wire
GROUP OVERVIEW:
Q1 2014 Performance
6© Bruker Corporation
Q1 2014 Financial Update
© Bruker Corporation 7
NON-GAAP FINANCIAL PERFORMANCE:
Q1 2014 Overview
[$ m, except EPS] Q1 2014 Q1 2013 Δ
Revenues 423.7 393.4 8%
Operating Income 32.1 23.6 36%
Margin (%) 7.6% 6.0%
EPS 0.11 0.08 38%
Free Cash Flow 9.3 -32.8 42.1M
 Revenue growth in all BSI
Groups and at BEST
 Operating margin
expansion, driven by
control of operating
expenses
 EPS growth of 38%
 Free cash flow of $9 million
8© Bruker Corporation
COMMENTS
[$ m] Mar 31,2014 Dec 31,2013 Δ
Net Cash 99.2 83.7 19%
Working capital (WC)* 799.1 822.6 -3%
WC-to-revenue ratio 0.43 0.45 -0.02
* WC = (Accounts Receivable +
Inventory – Accounts Payable)
Q1 2013 Organic Currency Acquisition Q1 2014
393.4
423.7
Q1 2014 revenue bridge
 Revenue growth driven
by Europe and Asia
 Minimal net currency
impact, with stronger
Euro offset by weaker
Yen and other currencies
 Benefit from BMAT
acquisition of Prairie
Technologies’
fluorescence microscopy
products, completed in
September 2013
9© Bruker Corporation
Q1 2014 DRIVERS
Q1 2014 Revenue bridge [$ m]
25.9 0.0 4.4
Organic Currency
Acquisitions &
Divestitures Total
6.6% 0.0% 1.1% 7.7%
Q1 2014 Revenue Growth for Bruker Corp.
Q1 2014 Non-GAAP Results
 Gross margin decline of
140 bps primarily due to
currency impact
 Y-o-y impact of Yen
devaluation lessens in
Q2 2014 and beyond
 Expense control and
2013 restructuring drive
300 bps decline in
operating expense
 Tax rate of 25.5% is
below full-year 2014
expectation, due to
timing of discrete items
10© Bruker Corporation
COMMENTS[$ m] Q1 2014 Q1 2013 Δ
Total Revenues 423.7 393.4 8%
Gross Profit 187.2 179.5 4%
Margin (% of sales) 44.2% 45.6%
SG&A -109.1 -106.5 2%
(% of revenues) 25.7% 27.1%
R&D -46.0 -49.4 -7%
(% of revenues) 10.9% 12.6%
Operating Income 32.1 23.6 36%
(% of revenues) 7.6% 6.0%
Tax Rate 25.5% 27.1% -160 bps
Net Income* 18.7 13.4 40%
EPS $0.11 $0.08 38%
Shares Outstanding 169.4 168.1 NM
* Attributable to BrukerSum of items may not total due to rounding
Q1 2014 Reconciliation of GAAP and
Non-GAAP Results
[$ m] Q1 2014 Q1 2013
GAAP Operating Income 20.6 12.2
Restructuring Costs 2.4 3.2
Acquisition Related Costs 1.1 0.6
Purchased Intangible Amortization 5.2 5.1
Other Costs 2.8 2.5
TOTAL 11.5 11.4
Non-GAAP Operating Income 32.1 23.6
Non-GAAP Net Interest Income (Expense) & Other -5.2 -4.8
Non GAAP Profit Before Tax 26.9 18.8
Taxes -6.9 -5.1
Non-GAAP Tax Rate 25.5% 27.1%
Minority Interest -1.3 -0.3
Non-GAAP Net Income* 18.7 13.4
Non-GAAP EPS $0.11 $0.08
11© Bruker Corporation
* Attributable to BrukerSum of items may not total due to rounding
Balance sheet
[$ m] Mar 31, 2014 Dec 31, 2013 Δ
Cash & Cash Equivalents 454.0 438.7 3%
Financial Debt 354.8 355.0 NM
Net Cash 99.2 83.7 19%
12© Bruker Corporation
[$ m] Mar 31, 2014 Dec 31, 2013 Δ
Total Assets 2,027.7 1,988.3 2%
Working Capital 799.1 822.6 -3%
Intangible & Other Assets 254.3 256.9 -1%
Q1 2014 Cash Flow Statement
 Inventory DIO improved
by 30 days vs. Q1 2013
– Still room for
improvement
 Cash flow benefit from
timing of payments
 Capex now at a more
normalized level
13© Bruker Corporation
COMMENTS[$ m] Q1 2014 Q1 2013 Δ
Net Income 10.0 5.7 4.3
Depreciation & amortization 15.2 15.2 0.0
Changes in working capital* 17.0 -20.5 37.5
Other -23.7 -18.6 -5.1
Operating cash flow 18.5 -18.2 36.7
Capital expenditures -9.2 -14.6 5.4
Free cash flow 9.3 -32.8 42.1
2014 Guidance
© Bruker Corporation 14
Bruker FY 2014 Guidance
Revenue Growth (reported) 3% to 4%
Restructuring Costs ~$15-$20M
Non-GAAP Tax Rate ~29%-30%
Non-GAAP EPS Growth 10% to 14%
15© Bruker Corporation
FY 2014 Guidance
 No change to full-year
guidance
 Revenue growth of all
three BSI Groups similar to
total company growth
 Less than $50M of capex
 Q2-14 financial
performance expected to
be similar to relatively
strong Q2-13
 Current currency
assumptions:
Yen/USD: 103
EUR/USD: 1.38
ASSUMPTIONS
Appendix
© Bruker Corporation 16
Q1 2014 GAAP Results
[$ m] Q1 2014 Q1 2013 Δ
Total Revenues 423.7 393.4 8%
Gross Profit 179.7 174.5 3%
Margin (% of sales) 42.4% 44.4%
SG&A -109.5 -106.8 3%
(% of revenues) 25.8% 27.1%
R&D -46.0 -49.4 -7%
(% of revenues) 10.9% 12.6%
Operating Income 20.6 12.2 69%
(% of revenues) 4.9% 3.1%
Net Income* 8.7 5.4 61%
EPS $0.05 $0.03 67%
Shares Outstanding 169.4 168.1 NM
17© Bruker Corporation
* Attributable to BrukerSum of items may not total due to rounding
Q1 SEGMENT RESULTS:
BSI and BEST GAAP Performance
[$ m] Q1 2014 Q1 2013 Δ
REVENUE
Scientific Instruments (BSI) 393.9 366.3 8%
Organic Revenue Growth (%) 6.6% -1.0%
Energy & Supercon Technologies (BEST) 34.8 31.2 12%
Organic Revenue Growth (%) 7.4% 3.4%
Corporate Eliminations & Other -5.0 -4.1
Total Revenue 423.7 393.4 8%
OPERATING INCOME
Scientific Instruments (BSI) 16.6 10.6 57%
Energy & Supercon Technologies (BEST) 2.8 0.9 211%
Corporate Eliminations and Other 1.2 0.7
Total Operating Income 20.6 12.2 69%
18© Bruker Corporation
Sum of items may not total due to rounding

Contenu connexe

Tendances

Bruker jpm2017 hcc fina-lv5.4-08jan17
Bruker jpm2017 hcc fina-lv5.4-08jan17Bruker jpm2017 hcc fina-lv5.4-08jan17
Bruker jpm2017 hcc fina-lv5.4-08jan17InvestorBruker
 
Q1 16 earnings slides-final
Q1 16 earnings slides-finalQ1 16 earnings slides-final
Q1 16 earnings slides-finalInvestorBruker
 
Finmeccanica First Quarter 2015 Result Presentation
Finmeccanica First Quarter 2015 Result PresentationFinmeccanica First Quarter 2015 Result Presentation
Finmeccanica First Quarter 2015 Result PresentationLeonardo
 
SGS 2014 Half Year Results Report
SGS 2014 Half Year Results ReportSGS 2014 Half Year Results Report
SGS 2014 Half Year Results ReportSGS
 
Com Hem - Interim Report Q2 2014 – Presentation
Com Hem - Interim Report Q2 2014 – PresentationCom Hem - Interim Report Q2 2014 – Presentation
Com Hem - Interim Report Q2 2014 – Presentationcomhemgroup
 
Finmeccanica Industrial Plan Presentation
Finmeccanica Industrial Plan PresentationFinmeccanica Industrial Plan Presentation
Finmeccanica Industrial Plan PresentationLeonardo
 
Leonardo 3Q/9M 2017 Results Presentation
Leonardo 3Q/9M 2017 Results PresentationLeonardo 3Q/9M 2017 Results Presentation
Leonardo 3Q/9M 2017 Results PresentationLeonardo
 
Changes in financial reporting - TIM, May 2019
Changes in financial reporting - TIM, May 2019Changes in financial reporting - TIM, May 2019
Changes in financial reporting - TIM, May 2019Gruppo TIM
 
Leonardo First Half 2018 results presentation
Leonardo First Half 2018 results presentationLeonardo First Half 2018 results presentation
Leonardo First Half 2018 results presentationLeonardo
 
Ht media ru2 qfy2011-281010
Ht media ru2 qfy2011-281010Ht media ru2 qfy2011-281010
Ht media ru2 qfy2011-281010Angel Broking
 
Q417 earnings slides final 08 feb18
Q417 earnings slides final 08 feb18Q417 earnings slides final 08 feb18
Q417 earnings slides final 08 feb18InvestorBruker
 
Q1 2021 Investor Conference Call Presentation
Q1 2021 Investor Conference Call PresentationQ1 2021 Investor Conference Call Presentation
Q1 2021 Investor Conference Call PresentationBayer
 
Q416 earnings slides final-13 feb17
Q416 earnings slides final-13 feb17Q416 earnings slides final-13 feb17
Q416 earnings slides final-13 feb17InvestorBruker
 
Q3 2017 Investor Conference Call Presentation
Q3 2017 Investor Conference Call PresentationQ3 2017 Investor Conference Call Presentation
Q3 2017 Investor Conference Call PresentationBayer
 
HeidelbergCement: Q3 2014 Presentation
HeidelbergCement: Q3 2014 PresentationHeidelbergCement: Q3 2014 Presentation
HeidelbergCement: Q3 2014 PresentationHeidelbergCement
 
Q3 2020 Investor Conference Call Presentation
Q3 2020 Investor Conference Call PresentationQ3 2020 Investor Conference Call Presentation
Q3 2020 Investor Conference Call PresentationBayer
 
Final q3 fy14 quarterly earnings presentation
Final q3 fy14 quarterly earnings presentationFinal q3 fy14 quarterly earnings presentation
Final q3 fy14 quarterly earnings presentationrockwell_collins
 
Q3 2021 Investor Conference Call Presentation
Q3 2021 Investor Conference Call PresentationQ3 2021 Investor Conference Call Presentation
Q3 2021 Investor Conference Call PresentationBayer
 
Leonardo 1Q 2017 Results Presentation
Leonardo 1Q 2017 Results PresentationLeonardo 1Q 2017 Results Presentation
Leonardo 1Q 2017 Results PresentationLeonardo
 

Tendances (20)

Bruker jpm2017 hcc fina-lv5.4-08jan17
Bruker jpm2017 hcc fina-lv5.4-08jan17Bruker jpm2017 hcc fina-lv5.4-08jan17
Bruker jpm2017 hcc fina-lv5.4-08jan17
 
Q1 16 earnings slides-final
Q1 16 earnings slides-finalQ1 16 earnings slides-final
Q1 16 earnings slides-final
 
Finmeccanica First Quarter 2015 Result Presentation
Finmeccanica First Quarter 2015 Result PresentationFinmeccanica First Quarter 2015 Result Presentation
Finmeccanica First Quarter 2015 Result Presentation
 
Resultados telefonica Primer Semestre
Resultados telefonica Primer SemestreResultados telefonica Primer Semestre
Resultados telefonica Primer Semestre
 
SGS 2014 Half Year Results Report
SGS 2014 Half Year Results ReportSGS 2014 Half Year Results Report
SGS 2014 Half Year Results Report
 
Com Hem - Interim Report Q2 2014 – Presentation
Com Hem - Interim Report Q2 2014 – PresentationCom Hem - Interim Report Q2 2014 – Presentation
Com Hem - Interim Report Q2 2014 – Presentation
 
Finmeccanica Industrial Plan Presentation
Finmeccanica Industrial Plan PresentationFinmeccanica Industrial Plan Presentation
Finmeccanica Industrial Plan Presentation
 
Leonardo 3Q/9M 2017 Results Presentation
Leonardo 3Q/9M 2017 Results PresentationLeonardo 3Q/9M 2017 Results Presentation
Leonardo 3Q/9M 2017 Results Presentation
 
Changes in financial reporting - TIM, May 2019
Changes in financial reporting - TIM, May 2019Changes in financial reporting - TIM, May 2019
Changes in financial reporting - TIM, May 2019
 
Leonardo First Half 2018 results presentation
Leonardo First Half 2018 results presentationLeonardo First Half 2018 results presentation
Leonardo First Half 2018 results presentation
 
Ht media ru2 qfy2011-281010
Ht media ru2 qfy2011-281010Ht media ru2 qfy2011-281010
Ht media ru2 qfy2011-281010
 
Q417 earnings slides final 08 feb18
Q417 earnings slides final 08 feb18Q417 earnings slides final 08 feb18
Q417 earnings slides final 08 feb18
 
Q1 2021 Investor Conference Call Presentation
Q1 2021 Investor Conference Call PresentationQ1 2021 Investor Conference Call Presentation
Q1 2021 Investor Conference Call Presentation
 
Q416 earnings slides final-13 feb17
Q416 earnings slides final-13 feb17Q416 earnings slides final-13 feb17
Q416 earnings slides final-13 feb17
 
Q3 2017 Investor Conference Call Presentation
Q3 2017 Investor Conference Call PresentationQ3 2017 Investor Conference Call Presentation
Q3 2017 Investor Conference Call Presentation
 
HeidelbergCement: Q3 2014 Presentation
HeidelbergCement: Q3 2014 PresentationHeidelbergCement: Q3 2014 Presentation
HeidelbergCement: Q3 2014 Presentation
 
Q3 2020 Investor Conference Call Presentation
Q3 2020 Investor Conference Call PresentationQ3 2020 Investor Conference Call Presentation
Q3 2020 Investor Conference Call Presentation
 
Final q3 fy14 quarterly earnings presentation
Final q3 fy14 quarterly earnings presentationFinal q3 fy14 quarterly earnings presentation
Final q3 fy14 quarterly earnings presentation
 
Q3 2021 Investor Conference Call Presentation
Q3 2021 Investor Conference Call PresentationQ3 2021 Investor Conference Call Presentation
Q3 2021 Investor Conference Call Presentation
 
Leonardo 1Q 2017 Results Presentation
Leonardo 1Q 2017 Results PresentationLeonardo 1Q 2017 Results Presentation
Leonardo 1Q 2017 Results Presentation
 

Similaire à Bruker q1 2014 earnings presentation final

Q3 15 earnings slides-final
Q3 15 earnings slides-finalQ3 15 earnings slides-final
Q3 15 earnings slides-finalInvestorBruker
 
Q2 15 earnings slides-final
Q2 15 earnings slides-finalQ2 15 earnings slides-final
Q2 15 earnings slides-finalInvestorBruker
 
Bruker Q3'18 Earnings Slides
Bruker Q3'18 Earnings SlidesBruker Q3'18 Earnings Slides
Bruker Q3'18 Earnings SlidesInvestorBruker
 
FY2013 Results Investor Presentation as at 21 May 2013
FY2013 Results Investor Presentation as at 21 May 2013FY2013 Results Investor Presentation as at 21 May 2013
FY2013 Results Investor Presentation as at 21 May 2013Alliance Bank Malaysia Berhad
 
Kloeckner & Co Analysts and Investor Presentation 3rd Quarter results 2014
Kloeckner & Co Analysts and Investor Presentation 3rd Quarter results 2014Kloeckner & Co Analysts and Investor Presentation 3rd Quarter results 2014
Kloeckner & Co Analysts and Investor Presentation 3rd Quarter results 2014Klöckner & Co SE
 
Taiwan Mobile Co., Ltd. 4Q13 Results Summary
Taiwan Mobile Co., Ltd.    4Q13 Results Summary Taiwan Mobile Co., Ltd.    4Q13 Results Summary
Taiwan Mobile Co., Ltd. 4Q13 Results Summary Mr Nyak
 
BRCD Q1 2014 PR.pdf
BRCD Q1 2014 PR.pdfBRCD Q1 2014 PR.pdf
BRCD Q1 2014 PR.pdfKanuBabu1
 
Mrkt q3 14 results presentation
Mrkt q3 14 results presentationMrkt q3 14 results presentation
Mrkt q3 14 results presentationInvestorMarkit
 
Trc q1-2015-earnings-slides-final v001-g61n61
Trc q1-2015-earnings-slides-final v001-g61n61Trc q1-2015-earnings-slides-final v001-g61n61
Trc q1-2015-earnings-slides-final v001-g61n61trcsolutions
 
3Q14 Activity and Results
3Q14 Activity and Results3Q14 Activity and Results
3Q14 Activity and ResultsBANCO SANTANDER
 
Deutsche Telekom Q1/13 Results
Deutsche Telekom Q1/13 ResultsDeutsche Telekom Q1/13 Results
Deutsche Telekom Q1/13 ResultsDeutsche Telekom
 
Q2'18 earnings slides final 2 aug18
Q2'18 earnings slides final 2 aug18Q2'18 earnings slides final 2 aug18
Q2'18 earnings slides final 2 aug18InvestorBruker
 
Q3 2013 Juniper Networks Earnings Conference Call
Q3 2013 Juniper Networks Earnings Conference CallQ3 2013 Juniper Networks Earnings Conference Call
Q3 2013 Juniper Networks Earnings Conference CallIRJuniperNetworks
 
AkzoNobel Investor Update Q1 2014 results
AkzoNobel Investor Update Q1 2014 resultsAkzoNobel Investor Update Q1 2014 results
AkzoNobel Investor Update Q1 2014 resultsAkzoNobel
 
Q1 fy15 earnings call slides draft 9-3-2014
Q1 fy15 earnings call slides draft 9-3-2014Q1 fy15 earnings call slides draft 9-3-2014
Q1 fy15 earnings call slides draft 9-3-2014Jo Thorgen
 
TCS Q1FY15: Results in-line, buy on dips
TCS Q1FY15: Results in-line, buy on dipsTCS Q1FY15: Results in-line, buy on dips
TCS Q1FY15: Results in-line, buy on dipsIndiaNotes.com
 

Similaire à Bruker q1 2014 earnings presentation final (20)

Q3 15 earnings slides-final
Q3 15 earnings slides-finalQ3 15 earnings slides-final
Q3 15 earnings slides-final
 
Q2 15 earnings slides-final
Q2 15 earnings slides-finalQ2 15 earnings slides-final
Q2 15 earnings slides-final
 
Bruker Q3'18 Earnings Slides
Bruker Q3'18 Earnings SlidesBruker Q3'18 Earnings Slides
Bruker Q3'18 Earnings Slides
 
TCS Fact Sheet Q1 FY15
TCS Fact Sheet Q1 FY15TCS Fact Sheet Q1 FY15
TCS Fact Sheet Q1 FY15
 
First Quarter Analyst Briefing as at 6 August 2013
First Quarter Analyst Briefing as at 6 August 2013First Quarter Analyst Briefing as at 6 August 2013
First Quarter Analyst Briefing as at 6 August 2013
 
FY2013 Results Investor Presentation as at 21 May 2013
FY2013 Results Investor Presentation as at 21 May 2013FY2013 Results Investor Presentation as at 21 May 2013
FY2013 Results Investor Presentation as at 21 May 2013
 
Q317 earnings slides
Q317 earnings slidesQ317 earnings slides
Q317 earnings slides
 
Kloeckner & Co Analysts and Investor Presentation 3rd Quarter results 2014
Kloeckner & Co Analysts and Investor Presentation 3rd Quarter results 2014Kloeckner & Co Analysts and Investor Presentation 3rd Quarter results 2014
Kloeckner & Co Analysts and Investor Presentation 3rd Quarter results 2014
 
TCS Fact Sheet Q4 FY14
TCS Fact Sheet Q4 FY14TCS Fact Sheet Q4 FY14
TCS Fact Sheet Q4 FY14
 
Taiwan Mobile Co., Ltd. 4Q13 Results Summary
Taiwan Mobile Co., Ltd.    4Q13 Results Summary Taiwan Mobile Co., Ltd.    4Q13 Results Summary
Taiwan Mobile Co., Ltd. 4Q13 Results Summary
 
BRCD Q1 2014 PR.pdf
BRCD Q1 2014 PR.pdfBRCD Q1 2014 PR.pdf
BRCD Q1 2014 PR.pdf
 
Mrkt q3 14 results presentation
Mrkt q3 14 results presentationMrkt q3 14 results presentation
Mrkt q3 14 results presentation
 
Trc q1-2015-earnings-slides-final v001-g61n61
Trc q1-2015-earnings-slides-final v001-g61n61Trc q1-2015-earnings-slides-final v001-g61n61
Trc q1-2015-earnings-slides-final v001-g61n61
 
3Q14 Activity and Results
3Q14 Activity and Results3Q14 Activity and Results
3Q14 Activity and Results
 
Deutsche Telekom Q1/13 Results
Deutsche Telekom Q1/13 ResultsDeutsche Telekom Q1/13 Results
Deutsche Telekom Q1/13 Results
 
Q2'18 earnings slides final 2 aug18
Q2'18 earnings slides final 2 aug18Q2'18 earnings slides final 2 aug18
Q2'18 earnings slides final 2 aug18
 
Q3 2013 Juniper Networks Earnings Conference Call
Q3 2013 Juniper Networks Earnings Conference CallQ3 2013 Juniper Networks Earnings Conference Call
Q3 2013 Juniper Networks Earnings Conference Call
 
AkzoNobel Investor Update Q1 2014 results
AkzoNobel Investor Update Q1 2014 resultsAkzoNobel Investor Update Q1 2014 results
AkzoNobel Investor Update Q1 2014 results
 
Q1 fy15 earnings call slides draft 9-3-2014
Q1 fy15 earnings call slides draft 9-3-2014Q1 fy15 earnings call slides draft 9-3-2014
Q1 fy15 earnings call slides draft 9-3-2014
 
TCS Q1FY15: Results in-line, buy on dips
TCS Q1FY15: Results in-line, buy on dipsTCS Q1FY15: Results in-line, buy on dips
TCS Q1FY15: Results in-line, buy on dips
 

Plus de InvestorBruker

Q118 earnings slides final 03 may18
Q118 earnings slides final 03 may18Q118 earnings slides final 03 may18
Q118 earnings slides final 03 may18InvestorBruker
 
Jpm18 hcc brkr-final-05jan18
Jpm18 hcc brkr-final-05jan18Jpm18 hcc brkr-final-05jan18
Jpm18 hcc brkr-final-05jan18InvestorBruker
 
Q217 earnings slides final-03 aug17 (1)
Q217 earnings slides final-03 aug17 (1)Q217 earnings slides final-03 aug17 (1)
Q217 earnings slides final-03 aug17 (1)InvestorBruker
 
Q117 earnings slides final-3 may2017
Q117 earnings slides final-3 may2017Q117 earnings slides final-3 may2017
Q117 earnings slides final-3 may2017InvestorBruker
 
Q2 2016 Earnings Presentation - Bruker Corporation
Q2 2016 Earnings Presentation - Bruker CorporationQ2 2016 Earnings Presentation - Bruker Corporation
Q2 2016 Earnings Presentation - Bruker CorporationInvestorBruker
 
Jp morgan 2016 healthcare conference final
Jp morgan 2016 healthcare conference finalJp morgan 2016 healthcare conference final
Jp morgan 2016 healthcare conference finalInvestorBruker
 
Jp morgan 2015 healthcare conference final
Jp morgan 2015 healthcare conference finalJp morgan 2015 healthcare conference final
Jp morgan 2015 healthcare conference finalInvestorBruker
 

Plus de InvestorBruker (7)

Q118 earnings slides final 03 may18
Q118 earnings slides final 03 may18Q118 earnings slides final 03 may18
Q118 earnings slides final 03 may18
 
Jpm18 hcc brkr-final-05jan18
Jpm18 hcc brkr-final-05jan18Jpm18 hcc brkr-final-05jan18
Jpm18 hcc brkr-final-05jan18
 
Q217 earnings slides final-03 aug17 (1)
Q217 earnings slides final-03 aug17 (1)Q217 earnings slides final-03 aug17 (1)
Q217 earnings slides final-03 aug17 (1)
 
Q117 earnings slides final-3 may2017
Q117 earnings slides final-3 may2017Q117 earnings slides final-3 may2017
Q117 earnings slides final-3 may2017
 
Q2 2016 Earnings Presentation - Bruker Corporation
Q2 2016 Earnings Presentation - Bruker CorporationQ2 2016 Earnings Presentation - Bruker Corporation
Q2 2016 Earnings Presentation - Bruker Corporation
 
Jp morgan 2016 healthcare conference final
Jp morgan 2016 healthcare conference finalJp morgan 2016 healthcare conference final
Jp morgan 2016 healthcare conference final
 
Jp morgan 2015 healthcare conference final
Jp morgan 2015 healthcare conference finalJp morgan 2015 healthcare conference final
Jp morgan 2015 healthcare conference final
 

Dernier

Ambala Escorts Service ☎️ 6378878445 ( Sakshi Sinha ) High Profile Call Girls...
Ambala Escorts Service ☎️ 6378878445 ( Sakshi Sinha ) High Profile Call Girls...Ambala Escorts Service ☎️ 6378878445 ( Sakshi Sinha ) High Profile Call Girls...
Ambala Escorts Service ☎️ 6378878445 ( Sakshi Sinha ) High Profile Call Girls...mriyagarg453
 
Collective Mining | Corporate Presentation - April 2024
Collective Mining | Corporate Presentation - April 2024Collective Mining | Corporate Presentation - April 2024
Collective Mining | Corporate Presentation - April 2024CollectiveMining1
 
Enjoy Night⚡Call Girls Udyog Vihar Gurgaon >༒8448380779 Escort Service
Enjoy Night⚡Call Girls Udyog Vihar Gurgaon >༒8448380779 Escort ServiceEnjoy Night⚡Call Girls Udyog Vihar Gurgaon >༒8448380779 Escort Service
Enjoy Night⚡Call Girls Udyog Vihar Gurgaon >༒8448380779 Escort ServiceDelhi Call girls
 
VIP 7001035870 Find & Meet Hyderabad Call Girls Shamshabad high-profile Call ...
VIP 7001035870 Find & Meet Hyderabad Call Girls Shamshabad high-profile Call ...VIP 7001035870 Find & Meet Hyderabad Call Girls Shamshabad high-profile Call ...
VIP 7001035870 Find & Meet Hyderabad Call Girls Shamshabad high-profile Call ...aditipandeya
 
Collective Mining | Corporate Presentation - May 2024
Collective Mining | Corporate Presentation - May 2024Collective Mining | Corporate Presentation - May 2024
Collective Mining | Corporate Presentation - May 2024CollectiveMining1
 
Pakistani Call girls in Ajman +971563133746 Ajman Call girls
Pakistani Call girls in Ajman +971563133746 Ajman Call girlsPakistani Call girls in Ajman +971563133746 Ajman Call girls
Pakistani Call girls in Ajman +971563133746 Ajman Call girlsgwenoracqe6
 
BDSM⚡Call Girls in Hari Nagar Delhi >༒8448380779 Escort Service
BDSM⚡Call Girls in Hari Nagar Delhi >༒8448380779 Escort ServiceBDSM⚡Call Girls in Hari Nagar Delhi >༒8448380779 Escort Service
BDSM⚡Call Girls in Hari Nagar Delhi >༒8448380779 Escort ServiceDelhi Call girls
 
B2 Interpret the brief.docxccccccccccccccc
B2 Interpret the brief.docxcccccccccccccccB2 Interpret the brief.docxccccccccccccccc
B2 Interpret the brief.docxcccccccccccccccMollyBrown86
 
Teck Investor Presentation, April 24, 2024
Teck Investor Presentation, April 24, 2024Teck Investor Presentation, April 24, 2024
Teck Investor Presentation, April 24, 2024TeckResourcesLtd
 
Top Rated Call Girls In Podanur 📱 {7001035870} VIP Escorts Podanur
Top Rated Call Girls In Podanur 📱 {7001035870} VIP Escorts PodanurTop Rated Call Girls In Podanur 📱 {7001035870} VIP Escorts Podanur
Top Rated Call Girls In Podanur 📱 {7001035870} VIP Escorts Podanurdharasingh5698
 
Call Girls in Friends Colony 9711199171 Delhi Enjoy Call Girls With Our Escorts
Call Girls in Friends Colony 9711199171 Delhi Enjoy Call Girls With Our EscortsCall Girls in Friends Colony 9711199171 Delhi Enjoy Call Girls With Our Escorts
Call Girls in Friends Colony 9711199171 Delhi Enjoy Call Girls With Our Escortsindian call girls near you
 
Call Girls Chandigarh Just Call 8868886958 Top Class Call Girl Service Available
Call Girls Chandigarh Just Call 8868886958 Top Class Call Girl Service AvailableCall Girls Chandigarh Just Call 8868886958 Top Class Call Girl Service Available
Call Girls Chandigarh Just Call 8868886958 Top Class Call Girl Service AvailableSheetaleventcompany
 
Vijayawada ( Call Girls ) Pune 6297143586 Hot Model With Sexy Bhabi Ready F...
Vijayawada ( Call Girls ) Pune  6297143586  Hot Model With Sexy Bhabi Ready F...Vijayawada ( Call Girls ) Pune  6297143586  Hot Model With Sexy Bhabi Ready F...
Vijayawada ( Call Girls ) Pune 6297143586 Hot Model With Sexy Bhabi Ready F...tanu pandey
 

Dernier (20)

Vip Call Girls South Ex ➡️ Delhi ➡️ 9999965857 No Advance 24HRS Live
Vip Call Girls South Ex ➡️ Delhi ➡️ 9999965857 No Advance 24HRS LiveVip Call Girls South Ex ➡️ Delhi ➡️ 9999965857 No Advance 24HRS Live
Vip Call Girls South Ex ➡️ Delhi ➡️ 9999965857 No Advance 24HRS Live
 
Ambala Escorts Service ☎️ 6378878445 ( Sakshi Sinha ) High Profile Call Girls...
Ambala Escorts Service ☎️ 6378878445 ( Sakshi Sinha ) High Profile Call Girls...Ambala Escorts Service ☎️ 6378878445 ( Sakshi Sinha ) High Profile Call Girls...
Ambala Escorts Service ☎️ 6378878445 ( Sakshi Sinha ) High Profile Call Girls...
 
Collective Mining | Corporate Presentation - April 2024
Collective Mining | Corporate Presentation - April 2024Collective Mining | Corporate Presentation - April 2024
Collective Mining | Corporate Presentation - April 2024
 
Sensual Moments: +91 9999965857 Independent Call Girls Noida Delhi {{ Monika}...
Sensual Moments: +91 9999965857 Independent Call Girls Noida Delhi {{ Monika}...Sensual Moments: +91 9999965857 Independent Call Girls Noida Delhi {{ Monika}...
Sensual Moments: +91 9999965857 Independent Call Girls Noida Delhi {{ Monika}...
 
Enjoy Night⚡Call Girls Udyog Vihar Gurgaon >༒8448380779 Escort Service
Enjoy Night⚡Call Girls Udyog Vihar Gurgaon >༒8448380779 Escort ServiceEnjoy Night⚡Call Girls Udyog Vihar Gurgaon >༒8448380779 Escort Service
Enjoy Night⚡Call Girls Udyog Vihar Gurgaon >༒8448380779 Escort Service
 
VIP 7001035870 Find & Meet Hyderabad Call Girls Shamshabad high-profile Call ...
VIP 7001035870 Find & Meet Hyderabad Call Girls Shamshabad high-profile Call ...VIP 7001035870 Find & Meet Hyderabad Call Girls Shamshabad high-profile Call ...
VIP 7001035870 Find & Meet Hyderabad Call Girls Shamshabad high-profile Call ...
 
@9999965857 🫦 Sexy Desi Call Girls Vaishali 💓 High Profile Escorts Delhi 🫶
@9999965857 🫦 Sexy Desi Call Girls Vaishali 💓 High Profile Escorts Delhi 🫶@9999965857 🫦 Sexy Desi Call Girls Vaishali 💓 High Profile Escorts Delhi 🫶
@9999965857 🫦 Sexy Desi Call Girls Vaishali 💓 High Profile Escorts Delhi 🫶
 
Collective Mining | Corporate Presentation - May 2024
Collective Mining | Corporate Presentation - May 2024Collective Mining | Corporate Presentation - May 2024
Collective Mining | Corporate Presentation - May 2024
 
Pakistani Call girls in Ajman +971563133746 Ajman Call girls
Pakistani Call girls in Ajman +971563133746 Ajman Call girlsPakistani Call girls in Ajman +971563133746 Ajman Call girls
Pakistani Call girls in Ajman +971563133746 Ajman Call girls
 
BDSM⚡Call Girls in Hari Nagar Delhi >༒8448380779 Escort Service
BDSM⚡Call Girls in Hari Nagar Delhi >༒8448380779 Escort ServiceBDSM⚡Call Girls in Hari Nagar Delhi >༒8448380779 Escort Service
BDSM⚡Call Girls in Hari Nagar Delhi >༒8448380779 Escort Service
 
B2 Interpret the brief.docxccccccccccccccc
B2 Interpret the brief.docxcccccccccccccccB2 Interpret the brief.docxccccccccccccccc
B2 Interpret the brief.docxccccccccccccccc
 
Teck Investor Presentation, April 24, 2024
Teck Investor Presentation, April 24, 2024Teck Investor Presentation, April 24, 2024
Teck Investor Presentation, April 24, 2024
 
Russian Call Girls Rohini Sector 3 💓 Delhi 9999965857 @Sabina Modi VVIP MODEL...
Russian Call Girls Rohini Sector 3 💓 Delhi 9999965857 @Sabina Modi VVIP MODEL...Russian Call Girls Rohini Sector 3 💓 Delhi 9999965857 @Sabina Modi VVIP MODEL...
Russian Call Girls Rohini Sector 3 💓 Delhi 9999965857 @Sabina Modi VVIP MODEL...
 
Top Rated Call Girls In Podanur 📱 {7001035870} VIP Escorts Podanur
Top Rated Call Girls In Podanur 📱 {7001035870} VIP Escorts PodanurTop Rated Call Girls In Podanur 📱 {7001035870} VIP Escorts Podanur
Top Rated Call Girls In Podanur 📱 {7001035870} VIP Escorts Podanur
 
Call Girls in Friends Colony 9711199171 Delhi Enjoy Call Girls With Our Escorts
Call Girls in Friends Colony 9711199171 Delhi Enjoy Call Girls With Our EscortsCall Girls in Friends Colony 9711199171 Delhi Enjoy Call Girls With Our Escorts
Call Girls in Friends Colony 9711199171 Delhi Enjoy Call Girls With Our Escorts
 
Call Girls Chandigarh Just Call 8868886958 Top Class Call Girl Service Available
Call Girls Chandigarh Just Call 8868886958 Top Class Call Girl Service AvailableCall Girls Chandigarh Just Call 8868886958 Top Class Call Girl Service Available
Call Girls Chandigarh Just Call 8868886958 Top Class Call Girl Service Available
 
Vijayawada ( Call Girls ) Pune 6297143586 Hot Model With Sexy Bhabi Ready F...
Vijayawada ( Call Girls ) Pune  6297143586  Hot Model With Sexy Bhabi Ready F...Vijayawada ( Call Girls ) Pune  6297143586  Hot Model With Sexy Bhabi Ready F...
Vijayawada ( Call Girls ) Pune 6297143586 Hot Model With Sexy Bhabi Ready F...
 
(👉゚9999965857 ゚)👉 Russian Call Girls Aerocity 👉 Delhi 👈 : 9999 Cash Payment F...
(👉゚9999965857 ゚)👉 Russian Call Girls Aerocity 👉 Delhi 👈 : 9999 Cash Payment F...(👉゚9999965857 ゚)👉 Russian Call Girls Aerocity 👉 Delhi 👈 : 9999 Cash Payment F...
(👉゚9999965857 ゚)👉 Russian Call Girls Aerocity 👉 Delhi 👈 : 9999 Cash Payment F...
 
Russian Call Girls Rohini Sector 22 💓 Delhi 9999965857 @Sabina Modi VVIP MODE...
Russian Call Girls Rohini Sector 22 💓 Delhi 9999965857 @Sabina Modi VVIP MODE...Russian Call Girls Rohini Sector 22 💓 Delhi 9999965857 @Sabina Modi VVIP MODE...
Russian Call Girls Rohini Sector 22 💓 Delhi 9999965857 @Sabina Modi VVIP MODE...
 
Call Girls 🫤 Hauz Khas ➡️ 9999965857 ➡️ Delhi 🫦 Russian Escorts FULL ENJOY
Call Girls 🫤 Hauz Khas ➡️ 9999965857  ➡️ Delhi 🫦  Russian Escorts FULL ENJOYCall Girls 🫤 Hauz Khas ➡️ 9999965857  ➡️ Delhi 🫦  Russian Escorts FULL ENJOY
Call Girls 🫤 Hauz Khas ➡️ 9999965857 ➡️ Delhi 🫦 Russian Escorts FULL ENJOY
 

Bruker q1 2014 earnings presentation final

  • 1. Bruker Corporation (NASDAQ: BRKR) Q1 2014 Earnings Presentation Frank Laukien, President & CEO Charles Wagner, EVP & CFO Joshua Young, VP, Investor RelationsMay 7, 2014 Innovation with Integrity
  • 2. Any statements contained in this presentation 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, 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, 2013. We will also be referencing non-GAAP financial measures in this presentation. A reconciliation of non-GAAP to GAAP results is available in our earnings press release and in this presentation. Bruker Corporation Safe Harbor & Reg. G Statement © Bruker Corporation 2
  • 3. Q1 2014 Business Update © Bruker Corporation 3
  • 4. $0.08 $0.11 Q1 2013 Q1 2014 Q1 Financials Revenues [$ m] Non-GAAP EPS Solid start to the year with operating margin expansion and growth from all three BSI Groups +8% +38% © Bruker Corporation 4 393 424 Q1 13 Q1 14 Q1 2014 Performance  Organic revenue growth of ~7% y-o-y 1.Double-digit growth in CALID, driven by Optics and Life Science divisions; easy comparison to weak Q1 2013 2.Mid-single digit revenue growth in BioSpin and BMAT Groups 3.Continued revenue growth in Europe  Non-GAAP Operating margin expands by 160 basis points; operating expense control more than offsets currency impact on gross margins  38% non-GAAP EPS growth in Q1 2014 compared to Q1 2013  Free cash flow improves by $42M, totaling $9M in Q1 2014 compared to ($33M) in Q1 2013
  • 5. Bruker BioSpin Group  Mid-single digit revenue growth, with strongest growth in Asia Pacific, continued growth in Europe  Quarter-to-quarter fluctuations in product/geographic mix  Pre-Clinical Imaging Division posts a strong quarter driven by MRI revenue growth; improving molecular imaging trends  Outsourcing programs in Germany and France on track Bruker CALID Group  Double-digit growth in revenues, compared to weak Q1 2013  Optics and Life Science & Clinical (LSC) Divisions drive growth  Optics: new products Tango and Lumos well-accepted  LSC: MALDI Biotyper good momentum, Q-TOF products perform well; divested Leipzig machine shop in Q1 2014  CAM Division posts weak performance; Sales management combined with LSC in Q1 2014; review of cost structure underway  Detection Division revenues dip due to export license delays 5© Bruker Corporation GROUP OVERVIEW: Q1 2014 Performance
  • 6. Bruker MAT Group  BMAT Group delivers mid-single digit revenue growth, compared to a weak Q1 2013  General industrial markets stabilize, but no recovery yet in microelectronics markets  Research and academic markets remain healthy  BAXS, BNS, and BNA Divisions all grew, compared to Q1 2013; BNS benefited from fluorescence microscopy acquisition  Profitability improved compared to Q1 2013, as operating expenses were reduced by second–half 2013 restructuring actions BEST Segment  Revenue growth of 12% and non-GAAP operating margin of 8.0%  Growth benefits from revenue timing, and margin benefits from 2013 cost initiatives  Contract renewals with key MRI customers for superconducting wire GROUP OVERVIEW: Q1 2014 Performance 6© Bruker Corporation
  • 7. Q1 2014 Financial Update © Bruker Corporation 7
  • 8. NON-GAAP FINANCIAL PERFORMANCE: Q1 2014 Overview [$ m, except EPS] Q1 2014 Q1 2013 Δ Revenues 423.7 393.4 8% Operating Income 32.1 23.6 36% Margin (%) 7.6% 6.0% EPS 0.11 0.08 38% Free Cash Flow 9.3 -32.8 42.1M  Revenue growth in all BSI Groups and at BEST  Operating margin expansion, driven by control of operating expenses  EPS growth of 38%  Free cash flow of $9 million 8© Bruker Corporation COMMENTS [$ m] Mar 31,2014 Dec 31,2013 Δ Net Cash 99.2 83.7 19% Working capital (WC)* 799.1 822.6 -3% WC-to-revenue ratio 0.43 0.45 -0.02 * WC = (Accounts Receivable + Inventory – Accounts Payable)
  • 9. Q1 2013 Organic Currency Acquisition Q1 2014 393.4 423.7 Q1 2014 revenue bridge  Revenue growth driven by Europe and Asia  Minimal net currency impact, with stronger Euro offset by weaker Yen and other currencies  Benefit from BMAT acquisition of Prairie Technologies’ fluorescence microscopy products, completed in September 2013 9© Bruker Corporation Q1 2014 DRIVERS Q1 2014 Revenue bridge [$ m] 25.9 0.0 4.4 Organic Currency Acquisitions & Divestitures Total 6.6% 0.0% 1.1% 7.7% Q1 2014 Revenue Growth for Bruker Corp.
  • 10. Q1 2014 Non-GAAP Results  Gross margin decline of 140 bps primarily due to currency impact  Y-o-y impact of Yen devaluation lessens in Q2 2014 and beyond  Expense control and 2013 restructuring drive 300 bps decline in operating expense  Tax rate of 25.5% is below full-year 2014 expectation, due to timing of discrete items 10© Bruker Corporation COMMENTS[$ m] Q1 2014 Q1 2013 Δ Total Revenues 423.7 393.4 8% Gross Profit 187.2 179.5 4% Margin (% of sales) 44.2% 45.6% SG&A -109.1 -106.5 2% (% of revenues) 25.7% 27.1% R&D -46.0 -49.4 -7% (% of revenues) 10.9% 12.6% Operating Income 32.1 23.6 36% (% of revenues) 7.6% 6.0% Tax Rate 25.5% 27.1% -160 bps Net Income* 18.7 13.4 40% EPS $0.11 $0.08 38% Shares Outstanding 169.4 168.1 NM * Attributable to BrukerSum of items may not total due to rounding
  • 11. Q1 2014 Reconciliation of GAAP and Non-GAAP Results [$ m] Q1 2014 Q1 2013 GAAP Operating Income 20.6 12.2 Restructuring Costs 2.4 3.2 Acquisition Related Costs 1.1 0.6 Purchased Intangible Amortization 5.2 5.1 Other Costs 2.8 2.5 TOTAL 11.5 11.4 Non-GAAP Operating Income 32.1 23.6 Non-GAAP Net Interest Income (Expense) & Other -5.2 -4.8 Non GAAP Profit Before Tax 26.9 18.8 Taxes -6.9 -5.1 Non-GAAP Tax Rate 25.5% 27.1% Minority Interest -1.3 -0.3 Non-GAAP Net Income* 18.7 13.4 Non-GAAP EPS $0.11 $0.08 11© Bruker Corporation * Attributable to BrukerSum of items may not total due to rounding
  • 12. Balance sheet [$ m] Mar 31, 2014 Dec 31, 2013 Δ Cash & Cash Equivalents 454.0 438.7 3% Financial Debt 354.8 355.0 NM Net Cash 99.2 83.7 19% 12© Bruker Corporation [$ m] Mar 31, 2014 Dec 31, 2013 Δ Total Assets 2,027.7 1,988.3 2% Working Capital 799.1 822.6 -3% Intangible & Other Assets 254.3 256.9 -1%
  • 13. Q1 2014 Cash Flow Statement  Inventory DIO improved by 30 days vs. Q1 2013 – Still room for improvement  Cash flow benefit from timing of payments  Capex now at a more normalized level 13© Bruker Corporation COMMENTS[$ m] Q1 2014 Q1 2013 Δ Net Income 10.0 5.7 4.3 Depreciation & amortization 15.2 15.2 0.0 Changes in working capital* 17.0 -20.5 37.5 Other -23.7 -18.6 -5.1 Operating cash flow 18.5 -18.2 36.7 Capital expenditures -9.2 -14.6 5.4 Free cash flow 9.3 -32.8 42.1
  • 14. 2014 Guidance © Bruker Corporation 14
  • 15. Bruker FY 2014 Guidance Revenue Growth (reported) 3% to 4% Restructuring Costs ~$15-$20M Non-GAAP Tax Rate ~29%-30% Non-GAAP EPS Growth 10% to 14% 15© Bruker Corporation FY 2014 Guidance  No change to full-year guidance  Revenue growth of all three BSI Groups similar to total company growth  Less than $50M of capex  Q2-14 financial performance expected to be similar to relatively strong Q2-13  Current currency assumptions: Yen/USD: 103 EUR/USD: 1.38 ASSUMPTIONS
  • 17. Q1 2014 GAAP Results [$ m] Q1 2014 Q1 2013 Δ Total Revenues 423.7 393.4 8% Gross Profit 179.7 174.5 3% Margin (% of sales) 42.4% 44.4% SG&A -109.5 -106.8 3% (% of revenues) 25.8% 27.1% R&D -46.0 -49.4 -7% (% of revenues) 10.9% 12.6% Operating Income 20.6 12.2 69% (% of revenues) 4.9% 3.1% Net Income* 8.7 5.4 61% EPS $0.05 $0.03 67% Shares Outstanding 169.4 168.1 NM 17© Bruker Corporation * Attributable to BrukerSum of items may not total due to rounding
  • 18. Q1 SEGMENT RESULTS: BSI and BEST GAAP Performance [$ m] Q1 2014 Q1 2013 Δ REVENUE Scientific Instruments (BSI) 393.9 366.3 8% Organic Revenue Growth (%) 6.6% -1.0% Energy & Supercon Technologies (BEST) 34.8 31.2 12% Organic Revenue Growth (%) 7.4% 3.4% Corporate Eliminations & Other -5.0 -4.1 Total Revenue 423.7 393.4 8% OPERATING INCOME Scientific Instruments (BSI) 16.6 10.6 57% Energy & Supercon Technologies (BEST) 2.8 0.9 211% Corporate Eliminations and Other 1.2 0.7 Total Operating Income 20.6 12.2 69% 18© Bruker Corporation Sum of items may not total due to rounding