Bruker Corporation · NASDAQ:BRKR
Bruker — 29th Annual J.P. Morgan Healthcare Conference (January 2011)
28 slides from Bruker's conference presentation, Jan 12, 2011
Slide 1: Bruker Corporation at the 29th Annual J.P. Morgan Healthcare Conference
Bruker Board Meeting, Nov. 2, 2010 Bruker Strategy Update by Frank Laukien, Brian Monahan, Bill Knight Strictly BRKR Board Confidential (draft v2.5 10/30) 1 INNOVATION WITH INTEGRITY Bruker Corporation (BRKR) 29th Annual J.P. Morgan Healthcare Conference January 12, 2011 Frank Laukien, President & C
Slide 2: Safe Harbor Statement
Bruker Corporation Safe Harbor Statement 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
Slide 3: Bruker Overview: Core Competencies and Differentiators
Premier Brand with Leading Market Share in Key Markets High-Performance Life-Science & Materials Research Tools Focused Company with Diverse Customer Base, Fast Organic Growth Experienced & Empowered Management Teams Focus on Science, Customer Collaborations and Major Innovation Proven Innovator, Ex
Slide 4: Global Company with Diversified Markets
Bruker Overview Global Company with Diversified Markets Other R&D and Production Sites Sales, Applications & Service Offices US and European (DE, CH, FR, NL) Major R&D and Production Sites Headquarters Key Markets: Life Science & Clinical Research Pharma & Biotech Materials Research & Nanotech Food
Slide 5: Prudent and Disciplined Acquisitions: Varian Product Lines
Prudent and Disciplined Acquisitions May 2010: Acquisition of 3 Varian Product Lines Divested by Agilent Former Varian Inc. product lines acquired by Bruker’s Chemical Analysis Division (CAD): ICP-MS business Lab GC instruments business GC-QQQ-MS business post-acquisition adjusted purchase price: ~$
Slide 6: Chemical Analysis Division: Update on Factory Relocations
Bruker Chemical Analysis Division (CAD): Update on Factory Relocations December 2010: Lab GC Factory Completed move in Netherlands from old Varian facility to new Bruker factory Q1 2011: GC-QQQ-MS Factory Planned move from ex-Varian Walnut Creek facility to Bruker in Fremont, CA Q2 2011: ICP-MS Fact
Slide 7: Acquisition of Market-Leading AFM/SOM Businesses
Prudent and Disciplined Acquisitions October 2010: Acquisition of Market-Leading AFM/SOM Businesses for $229.4M Acquired Former Veeco Scientific Instruments Product Lines: Atomic Force Microscopy (AFM) Research AFM systems for materials, nanotechnology and life-science research Large Automated AFM s
Slide 8: Acquisition of Sigma ElectroOptics
Update December 2010: Acquisition of Sigma ElectroOptics Bruker Acquired Sigma ElectroOptics GmbH: Develops, manufactures and sells gas sensing systems based on dispersive and Fourier transform infrared spectroscopy (FTIR) Presently developing novel hyper-spectral infrared remote imaging products Fo
Slide 9: Major CWA Detection Systems Contract from US Navy
Update December 2010: Award of Major CWA Detection Systems Contract from US Navy Bruker Announces >$1M Contract for 10 Production Systems for US Navy Improved Point Detection System (IPDS) Based on Bruker RAID-S2 IMS system Wall-mounted trace gas detector for chemical ware agents (CWA) and toxic ind
Slide 10: Acquisition of Radiation Detection Business of PROTECT-US
Update January 2011: Acquisition of Radiation Detection Business of PROTECT-US Bruker Acquired PROTECT-US Radiation Detection Business to Expand Product Offerings for Homeland Security Protect-US radiation detection systems and integrated communications solutions considerably expand Bruker Detection
Slide 11: Analysis of Bruker 2009 Revenue
Analysis of Bruker 2009 Revenue: Revenue ~$1.1 Billion Revenue by Customers Revenue by Geography of Customer Location Revenue by Product AFM/SOM 2009 Revenue by Geography 38% Asia-Pacific 31% Americas 31% Europe AFM/SOM 2009 Revenue by Customer Type 55% Academic/Government 45% Applied/Industrial INN
Slide 12: Bruker Corporation Investment Highlights
Bruker Corporation Bruker AXS Bruker Daltonics Bruker Scientific Instruments Segment (BSI) Bruker Energy & Supercon Technologies (BEST) Bruker BioSpin Bruker Optics Very Strong 2009 and 2010 New Product Flow Leading technology provider with 11.3% R&D investment in 2009 Positioned for revenue growth
Slide 13: 2009 Financial Achievements
Bruker Scientific Instruments (BSI) Segment: 2009 Financial Achievements Total Bruker FY2009 FY2008 Change/Comment Revenue: $1.114B $1.107B FX-adj. +2% GAAP EPS: $0.49 $0.39 +25% Non-cash compensation: ($0.03) ($0.02) stock-based expense Operating cash flow: $149.8M $106.9M +40% Free cash flow: $131
Slide 14: Q3YTD 2010 Financial Achievements
Bruker Corporation as of September 30, 2010 Q3YTD 2010 Financial Achievements Bruker Corp. Q3YTD FY10 Q3YTD FY09 Change/Comment Revenue: $888.8M $748.1M FX & Acq-adj. +18% Gross Margin: 46.2% 44.5% +170 bps Operating Margin: 12.6% 8.2% +440 bps GAAP EPS: $0.40 $0.23 +74% Operating cash flow: $62.7M
Slide 15: Selected Balance Sheet Metrics
Selected Balance Sheet Metrics Operational Excellence & Lean Initiatives WC = (A/R + Inventory) - AP DAYS SALES OUTSTANDING (TTM) INVENTORY TURNS (TTM) WORKING CAPITAL (TTM) TO GENERATE $1 OF REVENUE $0.10 reduction from 2006 to 2010 equates to $110M of lower working capital to support revenue run-r
Slide 16: Q4 and Full Year 2010 Revenue Estimates
Bruker Corporation Q4 and Full Year 2010 Revenue Estimates (preliminary and unaudited) Q4 2010 Q4 2009 >$360M $366.4M FY 2010 FY2009 >$1.25B $1.11B Q4 2010 Q4 2009 Comment ~$400M $366.4M ~9% increase (~10% FX-adjusted) FY2010 FY2009 Comment ~$1.29B $1.11B ~16% increase INNOVATION WITH INTEGRITY Curr
Slide 17: Magnetic Resonance Spectroscopy & Imaging
Magnetic Resonance Spectroscopy & Imaging: Performance, Technology and Market Leader Major new NMR and MRI introductions 2009 - World’s highest field, actively shielded wide-bore magnet 900 MHz US² 2009 - World’s highest field, actively shielded standard bore compact single-story magnet 850 MHz US P
Slide 18: Materials Research and Nano Instrumentation
Materials Research and Nano Instrumentation: High-Performance Systems for Broad Markets SMART X2S X-Ray Crystallography System World’s first fully automated molecular structure machine D2 Phaser X-Ray Diffraction System World’s most powerful benchtop XRD system S8 Lion X-Ray Fluorescence System Simu
Slide 19: Infrared and Raman Spectroscopy
Infrared and Raman Spectroscopy for Research and Applied Markets Well accepted, high-performance technology platforms: widely used in process analysis, food quality, forensics and many applications Strong presence in laboratory analysis; academic, government and industrial R&D; Growing market share
Slide 20: Life-Science Mass Spectrometry
Life-Science Mass Spectrometry Across-the-board new Technology Platforms Setting dramatic new performance standards in 4 principal life-science MS technologies: maXis UHR-TOF: ultra-high MS performance at UHPLC speed, unique accurate-mass ETD for PTMs, excellent for of intact protein analysis; amaZo
Slide 21: MALDI Biotyper for Microorganism ID
Fast Growth & High Margin Opportunities: MALDI Biotyper for Microorganism ID Faster time-to-result, better specificity, lower consumables cost molecular identification of bacteria, fungi and yeasts Becoming new standard for routine clinical ID in microbiology in Europe Proprietary, high quality prot
Slide 22: CBRNE Detection for Homeland Security/Defense
Fast Growth & High Margin Opportunities: CBRNE Detection for Homeland Security/Defense Early 2010: Phase IIIb Advancement within DHS ‘Autonomous Rapid Facility Chemical Agent Monitor’ Program Next-Gen IMS explosives detection - launch planned in 2011 NEW: DEtector™ Next-generation IMS for Drugs and
Slide 23: Energy & Supercon Technologies (BEST)
Bruker Energy & Supercon Technologies (BEST) Superconducting Materials and Devices BEST focuses on emerging renewable energy, energy infrastructure and established healthcare, industrial and “big science” research markets Revenue: $61.2M Q310-YTD vs. $36.0M Q309-YTD Gross Margin: 17.3% Q310-YTD vs.
Slide 24: Potential Markets for Supercon-Enabled Devices
Bruker Energy & Supercon Technologies (BEST) Potential Markets for Supercon-Enabled Devices INNOVATION WITH INTEGRITY
Slide 25: Appendix
January 12, 2011 25 www.bruker.com © Copyright 2011 Bruker Corporation. INNOVATION WITH INTEGRITY
Slide 26: Q3YTD 2010 Financials
Q3YTD 2010 Financials Reporting Segments: BSI and BEST *Net Income and Net Income Per Diluted Share presented for Bruker Scientific Instruments, Bruker Energy & Supercon Technologies and Corporate, Adjustments and Eliminations are non-GAAP financial measures. The table reconciles these non-GAAP meas
Slide 27: Q3YTD 2009 Financials
Q3YTD 2009 Financials Reporting Segments: BSI and BEST *Net Income and Net Income Per Diluted Share presented for Bruker Scientific Instruments, Bruker Energy & Supercon Technologies and Corporate, Adjustments and Eliminations are non-GAAP financial measures. The table reconciles these non-GAAP meas
Slide 28: www.bruker.com
January 12, 2011 28 www.bruker.com © Copyright 2011 Bruker Corporation. INNOVATION WITH INTEGRITY
Bruker — 29th Annual J.P. Morgan Healthcare Conference (January 2011) on 6ix