-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, BFCjRyGQSQA/Ivs+dVcoQJaGHwZjG/IZYL5FHz54lmLDqvu5w2COHrSbG1M1uAdM EfWvLYCI4IJNc03jgVwrog== 0001104659-07-033718.txt : 20070501 0001104659-07-033718.hdr.sgml : 20070501 20070430205952 ACCESSION NUMBER: 0001104659-07-033718 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20070430 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20070501 DATE AS OF CHANGE: 20070430 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BRUKER BIOSCIENCES CORP CENTRAL INDEX KEY: 0001109354 STANDARD INDUSTRIAL CLASSIFICATION: LABORATORY ANALYTICAL INSTRUMENTS [3826] IRS NUMBER: 043110160 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-30833 FILM NUMBER: 07802908 BUSINESS ADDRESS: STREET 1: 40 MANNING RD CITY: BILLERICA STATE: MA ZIP: 01821 MAIL ADDRESS: STREET 1: 40 MANNING RD CITY: BILLERICA STATE: MA ZIP: 01821 FORMER COMPANY: FORMER CONFORMED NAME: BRUKER DALTONICS INC DATE OF NAME CHANGE: 20000315 8-K 1 a07-12810_18k.htm 8-K

 

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

 


 

FORM 8-K

 

CURRENT REPORT
Pursuant to Section 13 OR 15(d)
of the Securities Exchange Act of 1934

 


 

Date of Report (Date of earliest event reported):  April 30, 2007

 

BRUKER BIOSCIENCES CORPORATION
(Exact name of registrant as specified in its charter)

 

Delaware
(State or other jurisdiction
of incorporation)

 

000-30833
(Commission
File Number)

 

04-3110160
(IRS Employer
Identification No.)

 

40 Manning Road
Billerica, MA 01821
(Address of principal executive offices)(Zip Code)

 

Registrant’s telephone number, including area code: (978) 663-3660

Check the appropriate box if the Form 8-K filing is intended to simultaneously satisfy the reporting obligation of the registrant under any of the following provisions:

o   Written communications pursuant to Rule 425 under the Securities Act

 

o   Soliciting material pursuant to Rule 14a-12 of the Exchange Act

 

o   Pre-commencement communications pursuant to Rule 14d-2(b) Exchange Act

 

o   Pre-commencement communications pursuant to Rule 13e-4(c) Exchange Act

 

 




 

Section 2 — Financial Information

Item 2.02.  Results of Operations and Financial Condition

The information in this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and shall not be incorporated by reference into any filing of the company under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

On April 30, 2007, Bruker BioSciences Corporation issued a press release announcing financial results as of and for the three months ended March 31, 2007.  A copy of the press release is attached hereto as Exhibit 99.1.

2




 

Section 9 — Financial Statements and Exhibits

Item 9.01.  Financial Statements and Exhibits.

(d)

 

Exhibits

 

 

Number

 

 

 

 

 

 

 

 

 

99.1

 

Press release dated April 30, 2007.

 

3




 

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

BRUKER BIOSCIENCES CORPORATION
(Registrant)

 

 

 

 

 Date: April 30, 2007

 

 

By:

/s/ Frank H. Laukien

 

 

 

 

Frank H. Laukien, Ph.D.
Chief Executive Officer and President

 

4




 

Exhibit Index

 

Exhibit
Number

 

Exhibit Name

 

Location

 

 

 

 

 

99.1

 

Press release dated April 30, 2007.

 

Furnished herewith*


*                    Exhibit 99.1 attached hereto is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

5



EX-99.1 2 a07-12810_1ex99d1.htm EX-99.1

Exhibit 99.1

Bruker BioSciences Reports First Quarter 2007 Year-over-Year Pooled Revenue Growth of 16% and Strong Operating Income Growth

BILLERICA, Mass., May 1, 2007 (BUSINESS WIRE)  —  Bruker BioSciences Corporation (NASDAQ: BRKR) today reported financial results for the three months ended March 31, 2007.

On July 1, 2006, Bruker BioSciences completed its acquisition of Bruker Optics Inc., which was accounted for as a pooling of interests.  As a result of this required GAAP accounting treatment, all historical financials have been pooled as if the companies had always been combined.

For the first quarter of 2007, revenue increased by 16.5% to $110.5 million, compared to pooled revenue of $94.9 million in the first quarter of 2006.  Excluding the effects of foreign currency translation, first quarter 2007 revenue increased by 10.6% year-over-year.

Net income in the first quarter of 2007 was $3.9 million, or $0.04 per diluted share, compared to pooled net income of $3.3 million, or $0.03 per diluted share, in the first quarter of 2006.

Operating income in the first quarter of 2007 was $7.8 million, up 59.5% compared to operating income of $4.9 million in the first quarter of 2006.  Excluding acquisition related charges of $1.2 million in Q1 2006, operating income increased 28.4% year-over-year.

Commenting on the first quarter, Frank Laukien, President and CEO, said: “I am very pleased that we started 2007 with strong year-over-year growth and solid improvements in our gross margins and operating income.  We believe the combination of our competitive product offerings, healthy backlog and strong end-markets position us well for continued success throughout 2007.”

EARNINGS CONFERENCE CALL

Bruker BioSciences will host an operator-assisted earnings conference call at 8 a.m. Eastern Time on Tuesday, May 1, 2007.  To listen to the webcast, investors can go to www.bruker-biosciences.com and click on the live web broadcast symbol.  The webcast will be available through the Company web site for 30 days.  Investors can also listen and participate on the telephone in the US and Canada by calling 888-339-2688, or 617-847-3007 outside the US and Canada.  Investors should refer to the Bruker BioSciences Quarterly Earnings Call.  A telephone replay of the conference call will be available one hour after the conference call by dialing 888-286-8010 in the US and Canada, or 617-801-6888 outside the US and Canada, and then entering replay pass code 16589667.




 

ABOUT BRUKER BIOSCIENCES

Bruker BioSciences Corporation in Billerica, Massachusetts is the parent company of Bruker AXS Inc., Bruker Daltonics Inc. and Bruker Optics, Inc.  Bruker AXS is a leading developer and provider of life science, materials research and industrial X-ray analysis and spark-OES tools.  Bruker Daltonics is a leading developer and provider of innovative life science tools based on mass spectrometry, and also offers a broad line of chemical, biological, radiological and nuclear (CBRN) detection products for homeland security.  Bruker Optics is a leading developer, manufacturer and provider of research, analytical and process analysis instruments and solutions based on infrared and Raman molecular spectroscopy technology.  For more information, please visit www.bruker-biosciences.com

CAUTIONARY STATEMENT

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to our reorganization strategies, risks related to the integration of businesses we have acquired or may acquire in the future,  technological approaches, product development, market acceptance, cost and pricing of our products, changes in governmental regulations, capital spending and government funding policies, FDA and other regulatory approvals to the extent applicable, competition, the intellectual property of others, patent protection and litigation. 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, 2006, our most recent quarterly reports on Form 10-Q and our current reports on Form 8-K. We disclaim any intent or obligation to update these forward-looking statements other than as required by law.

Condensed consolidated statements of operations and balance sheets follow for Bruker BioSciences Corporation.

2




Bruker BioSciences Corporation
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)

 

 

Three Months Ended March 31,

 

 

 

2007

 

2006

 

Product revenue

 

$

95,362

 

$

83,841

 

Service revenue

 

14,991

 

10,371

 

Other revenue

 

154

 

644

 

Total revenue

 

110,507

 

94,856

 

 

 

 

 

 

 

Cost of product revenue

 

47,811

 

44,713

 

Cost of service revenue

 

10,068

 

6,387

 

Total cost of revenue

 

57,879

 

51,100

 

 

 

 

 

 

 

Gross profit margin

 

52,628

 

43,756

 

 

 

 

 

 

 

Operating Expenses:

 

 

 

 

 

Sales and marketing

 

23,764

 

18,832

 

General and administrative

 

7,492

 

6,607

 

Research and development

 

13,613

 

12,275

 

Acquisition related charges

 

 

1,176

 

Total operating expenses

 

44,869

 

38,890

 

 

 

 

 

 

 

Operating income

 

7,759

 

4,866

 

 

 

 

 

 

 

Interest and other income (expense), net

 

(525

)

1,681

 

 

 

 

 

 

 

Income before income tax provision and minority
interest in consolidated subsidiaries

 

7,234

 

6,547

 

Income tax provision

 

3,267

 

3,240

 

 

 

 

 

 

 

Income before minority interest in consolidated
subsidiaries

 

3,967

 

3,307

 

Minority interest in consolidated subsidiaries

 

86

 

48

 

Net income

 

$

3,881

 

$

3,259

 

 

 

 

 

 

 

Net income per share:

 

 

 

 

 

Basic

 

$

0.04

 

$

0.03

 

Diluted

 

$

0.04

 

$

0.03

 

 

 

 

 

 

 

Weighted average shares outstanding:

 

 

 

 

 

Basic

 

102,820

 

101,186

 

Diluted

 

105,361

 

101,480

 

 

3




 

Bruker BioSciences Corporation
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)

 

 

March 31,

 

December 31,

 

 

 

2007

 

2006

 

 

 

(unaudited)

 

ASSETS

 

 

 

 

 

 

 

 

 

 

 

Current assets:

 

 

 

 

 

Cash and short-term investments

 

$

55,692

 

$

52,147

 

Accounts receivable, net

 

75,110

 

79,604

 

Due from affiliated companies

 

7,536

 

9,028

 

Inventories

 

157,616

 

134,504

 

Other current assets

 

23,121

 

19,461

 

Total current assets

 

319,075

 

294,744

 

 

 

 

 

 

 

Property and equipment, net

 

91,410

 

90,349

 

Intangible and other assets

 

52,609

 

48,094

 

 

 

 

 

 

 

Total assets

 

$

463,094

 

$

433,187

 

 

 

 

 

 

 

LIABILITIES AND SHAREHOLDERS’ EQUITY

 

 

 

 

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

Short-term borrowings

 

$

11,601

 

$

21,857

 

Accounts payable

 

26,370

 

23,102

 

Due to affiliated companies

 

9,916

 

5,901

 

Other current liabilities

 

151,824

 

144,268

 

Total current liabilities

 

199,711

 

195,128

 

 

 

 

 

 

 

Long-term debt

 

22,782

 

22,863

 

Other long-term liabilities

 

25,698

 

23,491

 

Minority interest in subsidiaries

 

325

 

239

 

 

 

 

 

 

 

Total shareholders’ equity

 

214,578

 

191,466

 

 

 

 

 

 

 

Total liabilities and shareholders’ equity

 

$

463,094

 

$

433,187

 

 

4




 

FOR FURTHER INFORMATION:

 

Michael Willett, Investor Relations Officer

 

 

Tel: (978) 663-3660, ext. 1411

 

 

Email: Michael.Willett@Bruker.com

 

5



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