Bruker (BRKR) FY2014 results: revenue $1.8 billion, down 1.7% on the year
Bruker Corp. (BRKR) reported revenue of $1.8 billion for fiscal 2014, the year ended 31 December 2014, down 1.7% on the year before. Net income was $57 million, down 29.2%, and diluted earnings per share $0.33. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2015.
Revenue
$1.8 billion
-1.7% on the year
FY2009FY2014
Operating margin
5.8%
8.1% a year earlier
FY2009FY2014
Net income
$57 million
-29.2% on the year
FY2009FY2014
Diluted EPS
$0.33
-31.2% on the year
FY2009FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
1,809
1,839
1,791
-1.7%
Cost of revenue
1,046
1,034
962
+1.1%
Gross profit
763
805
829
-5.2%
Gross margin
42.2%
43.8%
46.3%
Research and development
174
190
195
-8.6%
Selling, general and administrative
451
438
440
+3.0%
Operating income
105
148
156
-28.9%
Operating margin
5.8%
8.1%
8.7%
Interest expense
13.3
13.4
14.3
-0.7%
Pre-tax income
101
125
138
-18.7%
Income tax
41.7
42.8
60.1
-2.6%
Effective tax rate
41.2%
34.3%
43.5%
Net income
56.7
80.1
77.5
-29.2%
Net margin
3.1%
4.4%
4.3%
Diluted EPS
$0.33
$0.48
$0.46
-31.2%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
114
145
133
-21.2%
Capital expenditure
33.8
50.3
72.8
-32.8%
Free cash flow
80.5
94.7
60.3
-15.0%
Free cash flow margin
4.5%
5.1%
3.4%
Depreciation and amortisation
59.7
61.3
59.1
-2.6%
Share-based compensation
9.4
6.6
7.8
+42.4%
Diluted shares, weighted
170m
168m
167m
+0.6%
Shares outstanding at period end
169m
168m
167m
+0.6%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
766
846
707
-9.5%
Non-controlling interest
5.8
4.1
3.1
+41.5%
Debt
355
355
337
0.0%
Other liabilities
738
783
810
-5.7%
Total liabilities and equity
1,865
1,988
1,856
-6.2%
Fixed assets
250
300
284
-16.6%
Goodwill
128
127
116
+0.3%
Intangible assets
83.8
106
117
-20.6%
Investments
178
n/a
n/a
Cash and equivalents
320
439
311
-27.2%
Receivables
293
308
289
-4.7%
Inventory
477
590
612
-19.1%
Other assets
135
120
128
+12.9%
Total assets
1,865
1,988
1,856
-6.2%
10-K for the year ended 31 December 2014, filed 27 February 2015: the filing.