Business
Bruker Reports First Quarter 2019 Financial Results
BILLERICA, Mass., May 2, 2019 /PRNewswire/ -- Bruker Corporation (Nasdaq: BRKR) today announced financial results for its first quarter ended March 31, 2019.
About this update from Bruker Corporation
[{"type":"text","content":" BILLERICA, Mass., May 2, 2019 /PRNewswire/ -- Bruker Corporation (Nasdaq: BRKR) today announced financial results for its first quarter ended March 31, 2019. \n\n \nBruker's revenues for the first quarter of 2019 were $461.4 million, an increase of 6.9% compared to the first quarter of 2018. In the first quarter of 2019, Bruker's year-over-year organic revenue growth was 5.5%. Growth from acquisitions was 6.0%, while foreign currency translation had a negative effect of 4.6%.\nFirst quarter 2019 Bruker Scientific Instruments (BSI) segment revenues of $416.8 million increased 7.7% compared to the first quarter of 2018, including organic growth of 5.5%. First quarter 2019 Bruker Energy & Supercon Technologies (BEST) segment revenues of $44.6 million decreased 0.2% compared to the first quarter of 2018, including organic growth, net of intercompany eliminations, of 5.4%.\nFirst quarter 2019 GAAP operating income was $41.9 million, compared to $38.1 million in the first quarter of 2018, representing a GAAP operating margin of 9.1%, compared to 8.8% in the first quarter of 2018. Non-GAAP operating income was $62.3 million, compared to $52.9 million in the first quarter of 2018. Bruker's first quarter 2019 non-GAAP operating margin was 13.5%, up 125 basis points (bps) from 12.3% in the first quarter of 2018, including a favorable impact of 80 bps from changes in foreign currency rates. \nFirst quarter 2019 GAAP diluted earnings per share (EPS) were $0.20, compared to $0.17 in the first quarter of 2018. First quarter 2019 non-GAAP diluted EPS were $0.28, a 16.7% increase compared to $0.24 in the first quarter of 2018. \nA reconciliation of non-GAAP to GAAP financial measures is provided in the tables accompanying this press release.\nFrank Laukien, President and CEO of Bruker, commented: \"Bruker is off to a solid start in fiscal year 2019, with good organic revenue growth, as well as sustained margin expansion and EPS improvement. Our dual strategy of portfolio transformation and operational excellence continues to yield improving results. With attractive secular growth opportunities for our Project Accelerate initiatives, great product innovation, and mostly healthy end markets, we believe that Bruker is on track to deliver on our updated 2019 financial commitments.\"\nFiscal Year (FY) 2019 Financial Outlook \nBruker is raising ...