Business
Bruker Reports First Quarter 2020 Financial Results
Q1 2020 revenue decline of 8.1% year-over-year, organic revenue decline of 7.9% Q1 2020 GAAP EPS of $0.07, compared to $0.20 in Q1 2019; non-GAAP EPS of
About this update from Bruker Corporation
[{"type":"text","content":"\n\nQ1 2020 revenue decline of 8.1% year-over-year, organic revenue decline of 7.9%\n\n\nQ1 2020 GAAP EPS of $0.07, compared to $0.20 in Q1 2019; non-GAAP EPS of $0.14, compared to $0.28 in Q1 2019\n\n\nCOVID-19 disruption expected to negatively affect Q2 2020 financial results\n\n\n BILLERICA, Mass.--(BUSINESS WIRE)--\nBruker Corporation (Nasdaq: BRKR) today announced financial results for its first quarter ended March 31, 2020.\n\n\nFirst Quarter 2020 Financial Results\n\n\nBruker’s revenues for the first quarter of 2020 were $424.0 million, an 8.1% decline compared to the first quarter of 2019. In the first quarter of 2020, on an organic basis, Bruker’s revenue declined 7.9% year-over-year, growth from acquisitions was 0.9%, while foreign currency translation had a negative effect of 1.1%. The reported and organic revenue declines were primarily due to COVID-19 related disruptions and included an approximately 30% year-over-year revenue decline in China.\n\n\nFirst quarter 2020 GAAP operating income was $16.4 million, compared to $41.9 million in the first quarter of 2019, representing GAAP operating margins of 3.9% and 9.1%, respectively. Non-GAAP operating income was $32.2 million in the first quarter of 2020, compared to $62.3 million in the first quarter of 2019. Bruker’s first quarter 2020 non-GAAP operating margin was 7.6%, compared to 13.5% in the first quarter of 2019.\n\n\nFirst quarter 2020 GAAP diluted earnings per share (EPS) were $0.07, compared to $0.20 in the first quarter of 2019. First quarter 2020 non-GAAP diluted EPS were $0.14, compared to $0.28 in the first quarter of 2019. The year-over-year declines in the Company’s GAAP and non-GAAP operating income, operating margins and diluted EPS were primarily due to lower revenues associated with COVID-19 disruptions.\n\n\nA reconciliation of non-GAAP to GAAP financial measures is provided in the tables accompanying this press release.\n\n\nFrank H. Laukien, President and CEO of Bruker, commented: “Bruker is a healthy, essential company, and our life science tools and diagnostics markets are quite resilient. In 2020, we continue to navigate the COVID-19 disruptions by focusing on (1) the health and safety of our employees, customers and partners, (2) maintaining business continuity and service levels for our customers, (3) executing prudent temporary cost reducti...