Business
Bruker Reports Second Quarter 2020 Financial Results
COVID-19 disruption and softer demand negatively affect Q2 2020 financial results Q2 2020 revenue decline of 13.4% year-over-year; organic revenue decline of
About this update from Bruker Corporation
[{"type":"text","content":"\n\nCOVID-19 disruption and softer demand negatively affect Q2 2020 financial results\n\n\nQ2 2020 revenue decline of 13.4% year-over-year; organic revenue decline of 12.7% \n\n\nQ2 2020 GAAP EPS of $0.16, compared to $0.23 in Q2 2019; non-GAAP EPS of $0.21, compared to $0.33 in Q2 2019\n\n\n BILLERICA, Mass.--(BUSINESS WIRE)--\nBruker Corporation (Nasdaq: BRKR) today announced financial results for its second quarter and for the six months ended June 30, 2020.\n\n\nSecond Quarter 2020 Financial Results\n\n\nBruker’s revenues for the second quarter of 2020 were $424.6 million, a decline of 13.4% compared to the second quarter of 2019. In the second quarter of 2020, revenues declined 12.7% organically year-over-year, growth from acquisitions was 0.4%, 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 worldwide and softer global instrumentation demand, due to the ongoing pandemic.\n\n\nSecond quarter 2020 GAAP operating income was $37.9 million, compared to $53.5 million in the second quarter of 2019, representing GAAP operating margins of 8.9% and 10.9%, respectively. Non-GAAP operating income was $49.0 million in the second quarter of 2020, compared to $73.7 million in the second quarter of 2019. Bruker’s second quarter 2020 non-GAAP operating margin was 11.5%, compared to 15.0% in the second quarter of 2019.\n\n\nSecond quarter 2020 GAAP diluted earnings per share (EPS) were $0.16, compared to $0.23 in the second quarter of 2019. Second quarter 2020 non-GAAP diluted EPS were $0.21, compared to $0.33 in the second 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 and softer academic and industrial demand, partially offset by Bruker’s cost control and reduction measures.\n\n\nFirst Six Months of 2020 Financial Results\n\n\nFor the first six months of 2020, Bruker’s revenues were $848.6 million, a decline of 10.8% from $951.6 million in the first six months of 2019. In the first six months of 2020, revenues declined 10.3% organically year-over-year, growth from acquisitions was 0.6%, while foreign currency translation had a negative effect of 1.1%.\n\n\nIn the first six ...