Bruker (BRKR) FY2019 results: revenue $2.1 billion, up 9.3% on the year
Bruker Corp. (BRKR) reported revenue of $2.1 billion for fiscal 2019, the year ended 31 December 2019, up 9.3% on the year before. Net income was $197 million, up 9.7%, and diluted earnings per share $1.26. The figures are the company's own, from the 10-K it filed with the SEC on 27 March 2020.
Revenue
$2.1 billion
+9.3% on the year
FY2012FY2019
Operating margin
14.5%
13.8% a year earlier
FY2012FY2019
Net income
$197 million
+9.7% on the year
FY2012FY2019
Diluted EPS
$1.26
+10.5% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
2,073
1,896
1,766
+9.3%
Cost of revenue
1,077
996
950
+8.2%
Gross profit
995
900
816
+10.6%
Gross margin
48.0%
47.5%
46.2%
Research and development
188
173
162
+8.2%
Selling, general and administrative
500
445
416
+12.5%
Operating income
301
262
220
+14.7%
Operating margin
14.5%
13.8%
12.4%
Interest expense
16.0
12.6
15.4
+27.0%
Pre-tax income
280
245
198
+14.6%
Income tax
82.4
63.7
118
+29.4%
Effective tax rate
29.4%
26.0%
59.4%
Net income
197
180
78.6
+9.7%
Net margin
9.5%
9.5%
4.5%
Diluted EPS
$1.26
$1.14
$0.49
+10.5%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
213
240
154
-11.0%
Capital expenditure
73.0
49.2
43.7
+48.4%
Free cash flow
140
190
111
-26.3%
Free cash flow margin
6.8%
10.0%
6.3%
Cash from investing
-158
-123
-30.2
Cash from financing
300
-112
-159
Depreciation and amortisation
75.6
64.9
63.9
+16.5%
Share-based compensation
9.6
11.3
11.0
-15.0%
Buybacks
142
n/a
152
Dividends paid
25.0
25.1
25.4
-0.4%
Dividend per share
$0.16
$0.16
$0.16
0.0%
Diluted shares, weighted
157m
157m
159m
-0.4%
Shares outstanding at period end
154m
157m
156m
-1.6%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
907
897
725
+1.1%
Non-controlling interest
10.3
8.5
8.1
+21.2%
Redeemable equity
21.1
22.6
n/a
-6.6%
Debt
813
341
416
+138.4%
Operating lease liabilities
47.0
n/a
n/a
Finance lease liabilities
1.1
n/a
n/a
Other liabilities
972
860
799
+13.0%
Total liabilities and equity
2,772
2,129
1,948
+30.2%
Fixed assets
306
271
266
+13.1%
Goodwill
293
276
170
+6.3%
Intangible assets
233
219
82.4
+6.6%
Investments
6.6
0.0
114
Cash and equivalents
678
322
325
+110.4%
Receivables
362
357
319
+1.4%
Inventory
577
510
486
+13.3%
Other assets
315
174
185
+80.6%
Total assets
2,772
2,129
1,948
+30.2%
10-K for the year ended 31 December 2019, filed 27 March 2020: the filing.