Bruker (BRKR) FY2018 results: revenue $1.9 billion, up 7.3% on the year
Bruker Corp. (BRKR) reported revenue of $1.9 billion for fiscal 2018, the year ended 31 December 2018, up 7.3% on the year before. Net income was $180 million, up 128.6%, and diluted earnings per share $1.14. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2019.
Revenue
$1.9 billion
+7.3% on the year
FY2011FY2018
Operating margin
13.8%
12.4% a year earlier
FY2011FY2018
Net income
$180 million
+128.6% on the year
FY2011FY2018
Diluted EPS
$1.14
+132.7% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
1,896
1,766
1,611
+7.3%
Cost of revenue
996
950
866
+4.8%
Gross profit
900
816
745
+10.3%
Gross margin
47.5%
46.2%
46.3%
Research and development
173
162
148
+7.3%
Selling, general and administrative
445
416
390
+6.9%
Operating income
262
220
182
+19.5%
Operating margin
13.8%
12.4%
11.3%
Interest expense
12.6
15.4
13.2
-18.2%
Pre-tax income
245
198
178
+23.7%
Income tax
63.7
118
23.1
-45.8%
Effective tax rate
26.0%
59.4%
13.0%
Net income
180
78.6
154
+128.6%
Net margin
9.5%
4.5%
9.5%
Diluted EPS
$1.14
$0.49
$0.95
+132.7%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
240
154
131
+55.2%
Capital expenditure
49.2
43.7
37.1
+12.6%
Free cash flow
190
111
93.7
+72.1%
Free cash flow margin
10.0%
6.3%
5.8%
Cash from investing
-123
-30.2
-21.8
Cash from financing
-112
-159
-27.9
Depreciation and amortisation
64.9
63.9
54.3
+1.6%
Share-based compensation
11.3
11.0
9.4
+2.7%
Buybacks
n/a
152
160
Dividends paid
25.1
25.4
25.8
-1.2%
Dividend per share
$0.16
$0.16
$0.16
0.0%
Diluted shares, weighted
157m
159m
162m
-1.2%
Shares outstanding at period end
157m
156m
160m
+0.5%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
897
725
686
+23.6%
Non-controlling interest
8.5
8.1
6.7
+4.9%
Redeemable equity
22.6
n/a
n/a
Debt
341
416
412
-17.9%
Other liabilities
860
799
704
+7.6%
Total liabilities and equity
2,129
1,948
1,808
+9.2%
Fixed assets
271
266
239
+1.5%
Goodwill
276
170
131
+62.4%
Intangible assets
219
82.4
69.7
+165.4%
Investments
0.0
114
158
Cash and equivalents
322
325
342
-0.8%
Receivables
357
319
244
+11.9%
Inventory
510
486
440
+4.8%
Other assets
174
185
184
-5.8%
Total assets
2,129
1,948
1,808
+9.2%
10-K for the year ended 31 December 2018, filed 1 March 2019: the filing.