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Bruker Updates FY 2021 Guidance and Provides Medium Term Outlook at Virtual Investor Day
BILLERICA, Mass.--(BUSINESS WIRE)-- At its 2021 Virtual Investor Day today, Bruker Corporation (Nasdaq: BRKR) will discuss the Company’s strategy and Project
About this update from Bruker Corporation
[{"type":"text","content":" BILLERICA, Mass.--(BUSINESS WIRE)--\nAt its 2021 Virtual Investor Day today, Bruker Corporation (Nasdaq: BRKR) will discuss the Company’s strategy and Project Accelerate 2.0 initiatives, including the Company’s potential high-growth opportunities in the areas of proteomics and spatial biology. Bruker will also update its fiscal year 2021 guidance and will discuss its medium term financial outlook through 2024.\n\nFiscal Year (FY 2021) Guidance Update\n\nFor fiscal year 2021, Bruker continues to project organic revenue growth in a range between 13% and 15% year-over-year, as previously disclosed. Other metrics of the Company’s guidance will be updated at the Investor Day, as described below.\n\nFor fiscal year 2021, in comparison to fiscal year 2020, Bruker now expects:\n\n\nRevenue growth between 16% and 18% year-over-year\n\n\nForeign currency revenue tailwind of approximately 3% (unchanged)\n\n\nNon-GAAP operating margin expansion of 230 to 270 basis points year-over-year. This compares to non-GAAP operating margin of 16.0% in FY 2020 and includes R&D investments of approximately 10% of revenue, as well as a foreign currency headwind of approximately 50 basis points.\n\n\nNon-GAAP EPS of $1.84 to $1.89, representing an increase of 36% to 40% year-over-year\n\n\nBruker’s guidance for FY 2021 continues to be based on foreign exchange rates as of April 30, 2021.\n\nMedium Term Financial Outlook Through FY 2024\n\nBruker will provide its medium term financial outlook, which includes the following financial goals for FY 2024:\n\n\nRevenue between $2.7 billion and $3.0 billion, excluding acquisitions and currency effects\n\n\nNon-GAAP operating margin between 20.7% and 21.5%\n\n\nNon-GAAP EPS between $2.60 and $3.00\n\n\nBruker’s Virtual Investor Day will also provide a deeper look into the Company’s strategies and longer-term opportunities, including its high-growth opportunities in the areas of microbiology and molecular diagnostics, unbiased proteomics and multiomics, as well as spatial biology, single-cell omics and cellular analysis. The Company will also share insights into the scientific benefits of its GHz-class Nuclear Magnetic Resonance (NMR) technology, and management will discuss Operational Excellence as the second pillar of its strategy.\n\nThe Virtual Investor Day will be broadcast live from 10 am until 1 pm EDT. A l...