Bruker (BRKR) FY2017 results: revenue $1.8 billion, up 9.6% on the year
Bruker Corp. (BRKR) reported revenue of $1.8 billion for fiscal 2017, the year ended 31 December 2017, up 9.6% on the year before. Net income was $79 million, down 48.8%, and diluted earnings per share $0.49. The figures are the company's own, from the 10-K it filed with the SEC on 16 March 2018.
Revenue
$1.8 billion
+9.6% on the year
FY2010FY2017
Operating margin
12.4%
11.3% a year earlier
FY2010FY2017
Net income
$79 million
-48.8% on the year
FY2010FY2017
Diluted EPS
$0.49
-48.4% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
1,766
1,611
1,624
+9.6%
Cost of revenue
950
866
915
+9.7%
Gross profit
816
745
709
+9.5%
Gross margin
46.2%
46.3%
43.6%
Research and development
162
148
146
+9.3%
Selling, general and administrative
416
390
392
+6.5%
Operating income
220
182
146
+20.7%
Operating margin
12.4%
11.3%
9.0%
Interest expense
15.4
13.2
13.0
+16.7%
Pre-tax income
198
178
128
+11.4%
Income tax
118
23.1
23.1
+408.7%
Effective tax rate
59.4%
13.0%
18.0%
Net income
78.6
154
102
-48.8%
Net margin
4.5%
9.5%
6.3%
Diluted EPS
$0.49
$0.95
$0.60
-48.4%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
154
131
229
+18.0%
Capital expenditure
43.7
37.1
34.2
+17.8%
Free cash flow
111
93.7
195
+18.1%
Free cash flow margin
6.3%
5.8%
12.0%
Cash from investing
-30.2
-21.8
-102
Cash from financing
-159
-27.9
-169
Depreciation and amortisation
63.9
54.3
53.3
+17.7%
Share-based compensation
11.0
9.4
8.0
+17.0%
Buybacks
152
160
90.0
-4.9%
Dividends paid
25.4
25.8
n/a
-1.6%
Dividend per share
$0.16
$0.16
n/a
0.0%
Diluted shares, weighted
159m
162m
169m
-1.9%
Shares outstanding at period end
156m
160m
165m
-2.5%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
725
686
726
+5.7%
Non-controlling interest
8.1
6.7
6.8
+20.9%
Debt
416
412
265
+0.9%
Other liabilities
799
704
733
+13.6%
Total liabilities and equity
1,948
1,808
1,731
+7.7%
Fixed assets
266
239
231
+11.5%
Goodwill
170
131
131
+30.0%
Intangible assets
82.4
69.7
74.7
+18.2%
Investments
114
158
201
-27.7%
Cash and equivalents
325
342
267
-5.1%
Receivables
319
244
235
+30.9%
Inventory
486
440
422
+10.4%
Other assets
185
184
170
+0.4%
Total assets
1,948
1,808
1,731
+7.7%
10-K for the year ended 31 December 2017, filed 16 March 2018: the filing.