Bruker Corporation (Nasdaq: BRKR) today announced preliminary
revenue for the first quarter ended March 31, 2021 in a range of
$549 - $554 million, representing reported revenue growth of
approximately 30% to 31%, compared to the first quarter of 2020.
Adjusting for the impact of foreign currency translation and
acquisitions, Bruker estimates non-GAAP organic revenue growth in
the first quarter of 2021 of approximately 22% to 23%
year-over-year. This compares favorably to the Company’s earlier
outlook for greater than 15% organic growth for the first
quarter.
Strong revenue performance in the first quarter 2021 was driven
by double-digit organic year-over-year revenue growth across all
three Bruker Scientific Instrument (BSI) groups, and it included
two GHz-class NMR systems.
Bruker expects to report its first quarter 2021 financial
results before market opening on Wednesday, May 5, 2021.
First Quarter 2021 Earnings Conference Call and
Webcast
Bruker presently plans to host a conference call and webcast on
Wednesday, May 5, 2021 at 8:30 a.m. Eastern Daylight Time to
discuss its first quarter financial results and current business
trends.
To listen to the webcast, investors can go to
https://ir.bruker.com and click on the “Q1 2021 Earnings Webcast”
hyperlink in the “Events & Presentations” section. A slide
presentation will be referenced during the webcast and will be
posted to the Company’s website shortly before the webcast begins.
Investors can also listen to the earnings webcast via telephone by
dialing 1-888-437-2685 (U.S. toll free) or +1-412-317-6702
(international) and referencing “Bruker’s First Quarter 2021
Earnings Conference Call.”
Bruker is enabling investors to pre-register for the earnings
conference call so that they can expedite their entry into the call
and avoid the need to wait for a live operator. In order to
pre-register for the call, investors can visit
https://dpregister.com/sreg/10154422/e658f8d6ee and enter their
contact information. Investors will then be issued a personalized
phone number and PIN to dial into the live conference call.
Individuals can pre-register any time prior to the start of the
conference call on May 5.
A telephone replay of the conference call will be available by
dialing 1-877-344-7529 (U.S. toll free) or +1-412-317-0088
(international) and entering conference number: 10154422. The
replay will be available beginning one hour after the end of the
conference call through June 5, 2021.
About Bruker Corporation (Nasdaq: BRKR)
Bruker is enabling scientists to make breakthrough discoveries
and develop new applications that improve the quality of human
life. Bruker’s high performance scientific instruments and high
value analytical and diagnostic solutions enable scientists to
explore life and materials at molecular, cellular and microscopic
levels. In close cooperation with our customers, Bruker is enabling
innovation, improved productivity and customer success in life
science molecular and cell biology research, in applied and pharma
applications, in microscopy and nanoanalysis, as well as in
industrial applications. Bruker offers differentiated, high-value
life science and diagnostics systems and solutions in preclinical
imaging, clinical phenomics research, proteomics and multiomics,
spatial and single-cell biology, functional structural and
condensate biology, as well as in clinical microbiology and
molecular diagnostics. For more information, please visit:
www.bruker.com.
Preliminary Financial Information
The anticipated results discussed in this press release are
based on management’s preliminary, unaudited analysis of financial
results for the quarter ended March 31, 2021. As of the date of
this press release, Bruker has not completed its quarter end
procedures for such period, and the Company’s independent
registered accounting firm has not reviewed the preliminary
financial data discussed in this press release. During the course
of the Company’s quarter-end closing procedures and review process,
the Company may identify items that would require it to make
adjustments, which may be material to the information presented
above. As a result, the estimates above constitute forward-looking
information and are subject to risks and uncertainties, including
possible adjustments to preliminary operating results.
Use of Non-GAAP Financial Measures
To supplement this preliminary consolidated financial
information, which is prepared and presented in accordance with
U.S. generally accepted accounting principles (GAAP), we also refer
to organic revenue growth, a non-GAAP financial measure. We define
the term organic revenue as GAAP revenue excluding the effect of
changes in foreign currency translation rates and the effect of
acquisitions and divestitures, and believe it is a useful measure
to evaluate our continuing business.
The presentation of non-GAAP financial measures is not intended
to be a substitute for, or superior to, the financial information
prepared and presented in accordance with GAAP and may be different
from non-GAAP financial measures used by other companies, and
therefore, may not be comparable among companies. We believe this
non-GAAP financial measure provides meaningful supplemental
information regarding our performance, however we urge investors to
review the reconciliation of this financial measure to the
comparable GAAP financial measure included in the accompanying
tables, and not to rely on any single financial measure to evaluate
our business. Specifically, management believes that the non-GAAP
measures mentioned above provide relevant and useful information
which is widely used by analysts, investors and competitors in our
industry, as well as by our management, in assessing both
consolidated and business unit performance.
We use this and other non-GAAP financial measures to evaluate
our period-over-period operating performance because our management
believes this provides a more comparable measure of our continuing
business by adjusting for certain items that are not reflective of
the underlying performance of our business. This measure may also
be useful to investors in evaluating the underlying operating
performance of our business and forecasting future results. We
regularly use non-GAAP financial measures internally to understand,
manage, and evaluate our business results and make operating
decisions. We also measure our employees and compensate them, in
part, based on certain non-GAAP measures and use this information
for our planning and forecasting activities.
Additional information relating to the non-GAAP financial
measures used in this press release and reconciliations to the most
directly comparable GAAP financial measures are provided in the
tables accompanying this press release.
Forward Looking Statements
Any statements contained in this press release which do not
describe historical facts may constitute forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, including statements regarding our preliminary first
quarter financial results; and statements found under the “Use of
Non-GAAP Financial Measures” section of this release. Any
forward-looking statements contained herein are based on current
expectations, but are subject to risks and uncertainties that could
cause actual results to differ materially from those indicated,
including, but not limited to, the completion of our quarter-end
closing procedures and review process, risks and uncertainties
relating to the length and severity of the COVID-19 pandemic, the
impact of the pandemic on global economic conditions and the length
and severity of any resulting recession, continued volatility in
the capital markets, the integration and assumption of liabilities
of businesses we have acquired or may acquire in the future,
fluctuations in foreign currency exchange rates, our material
weaknesses in internal controls, our ability to successfully
implement our restructuring initiatives and other cost reduction
initiatives, changing technologies, product development and market
acceptance of our products, the success of our R&D investment
initiatives, the cost and pricing of our products, manufacturing,
competition, loss of key personnel, dependence on collaborative
partners, key suppliers and contract manufacturers, capital
spending and government funding policies, changes in governmental
regulations, international trade disputes, the use and protection
of intellectual property rights, litigation, and other risk factors
discussed from time to time in our filings with the Securities and
Exchange Commission, or SEC. These and other factors are identified
and described in more detail in our filings with the SEC,
including, without limitation, our annual report on Form 10-K for
the year ended December 31, 2020, as may be updated by our
quarterly reports on Form 10-Q. We expressly disclaim any intent or
obligation to update these forward-looking statements other than as
required by law.
-tables follow-
Bruker Corporation
REVENUE
(unaudited)
Reconciliation of Year-over-Year
Q1-2021 GAAP Revenue Growth to Non-GAAP Organic Revenue
Growth(1)
Three Months Ended March
31,
2021
2021
Low End
High End
GAAP revenue growth
30%
31%
Less non-GAAP adjustments:
Acquisitions and divestitures
1%
1%
Currency
7%
7%
Non-GAAP organic revenue growth
22%
23%
(1) Rounded to the nearest whole percentage number.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210413006115/en/
Miroslava Minkova Director, Investor Relations & Corporate
Development Bruker Corporation T: +1 (978) 663–3660, ext. 1479 E:
Investor.Relations@bruker.com
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