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Bruker - Fundamentalanalyse - Jahresbericht / Bilanz / Geschäftsbericht

Bruker (ISIN: US1167941087, WKN: 813534) Kursdatum: 21.07.2017 Kurs: 29,150 USD
Beschreibung Daten
Symbol BRKR
Marktkapitalisierung 4.728.130.048,00 USD
Land Vereinigte Staaten von Amerika
Indizes NASDAQ Comp.
Sektor Industriegüter
Rohdaten nach US GAAP in Millionen USD
Aktiensplits
Internet
Letztes Bilanz Update 01.03.2017

Fundamentaldaten

Fundamental Verhältnisse errechnet am: 21.07.2017
KFCV KCV DIV Rendite GKR EKQ KGV KUV KBV
50,46 36,15 0,55% 8,52 37,96 30,68 2,93 6,89

Firmenbeschreibung

 

 

Note 22—Quarterly Financial Data (Unaudited)

 

 

        A summary of operating results for the quarterly periods in the years ended December 31, 2015 and 2014, is set forth below (in millions, except per share data):

 

 

                                                                                                                                                                                    

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarter Ended

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31

 

 

 

 

 

 

 

June 30

 

 

 

 

 

 

 

September 30 (1)

 

 

 

 

 

 

 

December 31 (1)

 

 

 

 

 

 

 

 

 

Year ended December 31, 2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net revenue

 

 

 

 

 

 

 

$

 

353.5 

 

 

 

 

 

 

 

$

 

396.0 

 

 

 

 

 

 

 

$

 

396.1 

 

 

 

 

 

 

 

$

 

478.2 

 

 

 

 

 

 

 

 

 

Gross profit

 

 

 

 

 

 

 

 

 

160.2 

 

 

 

 

 

 

 

 

 

169.4 

 

 

 

 

 

 

 

 

 

167.5 

 

 

 

 

 

 

 

 

 

211.5 

 

 

 

 

 

 

 

 

 

Operating income

 

 

 

 

 

 

 

 

 

15.2 

 

 

 

 

 

 

 

 

 

31.6 

 

 

 

 

 

 

 

 

 

28.2 

 

 

 

 

 

 

 

 

 

70.7 

 

 

 

 

 

 

 

 

 

Net income attributable to Bruker Corporation

 

 

 

 

 

 

 

 

 

6.5 

 

 

 

 

 

 

 

 

 

21.9 

 

 

 

 

 

 

 

 

 

11.8 

 

 

 

 

 

 

 

 

 

61.4 

 

 

 

 

 

 

 

 

 

Net income per common share attributable to Bruker Corporation shareholders:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

 

 

 

 

 

$

 

0.04 

 

 

 

 

 

 

 

$

 

0.13 

 

 

 

 

 

 

 

$

 

0.07 

 

 

 

 

 

 

 

$

 

0.37 

 

 

 

 

 

 

 

 

 

Diluted

 

 

 

 

 

 

 

$

 

0.04 

 

 

 

 

 

 

 

$

 

0.13 

 

 

 

 

 

 

 

$

 

0.07 

 

 

 

 

 

 

 

$

 

0.36 

 

 

 

 

 

 

 

 

 

Year ended December 31, 2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net revenue

 

 

 

 

 

 

 

$

 

423.7 

 

 

 

 

 

 

 

$

 

457.4 

 

 

 

 

 

 

 

$

 

419.8 

 

 

 

 

 

 

 

$

 

508.0 

 

 

 

 

 

 

 

 

 

Gross profit

 

 

 

 

 

 

 

 

 

179.7 

 

 

 

 

 

 

 

 

 

200.5 

 

 

 

 

 

 

 

 

 

167.3 

 

 

 

 

 

 

 

 

 

215.8 

 

 

 

 

 

 

 

 

 

Operating income

 

 

 

 

 

 

 

 

 

20.6 

 

 

 

 

 

 

 

 

 

35.4 

 

 

 

 

 

 

 

 

 

4.9 

 

 

 

 

 

 

 

 

 

44.5 

 

 

 

 

 

 

 

 

 

Net income attributable to Bruker Corporation

 

 

 

 

 

 

 

 

 

8.7 

 

 

 

 

 

 

 

 

 

16.4 

 

 

 

 

 

 

 

 

 

5.5 

 

 

 

 

 

 

 

 

 

26.1 

 

 

 

 

 

 

 

 

 

Net income per common share attributable to Bruker Corporation shareholders:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

 

 

 

 

 

$

 

0.05 

 

 

 

 

 

 

 

$

 

0.10 

 

 

 

 

 

 

 

$

 

0.03 

 

 

 

 

 

 

 

$

 

0.16 

 

 

 

 

 

 

 

 

 

Diluted

 

 

 

 

 

 

 

$

 

0.05 

 

 

 

 

 

 

 

$

 

0.10 

 

 

 

 

 

 

 

$

 

0.03 

 

 

 

 

 

 

 

$

 

0.15 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)          

 

 

 

The second, third and fourth quarter of 2015 includes impairment of assets of $1.8 million, $2.5 million and $0.3 million, respectively, comprised of goodwill, definite-lived intangible assets and other long-lived assets.

 

The third and fourth quarter of 2014 includes impairment of assets of $6.9 million and $4.6 million, respectively, comprised of definite-lived intangible assets and other long-lived assets.

 

 

 

 

 

 

 

Firmenstrategie

 

 

Principles of Consolidation

 

 

        The accompanying consolidated financial statements include the accounts of the Company and all majority and wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated.

 

 

RevenueRecognitionPolicyTextBlock

 

 

Revenue Recognition

        The Company recognizes revenue from system sales when persuasive evidence of an arrangement exists, the price is fixed or determinable, title and risk of loss has been transferred to the customer and collectability of the resulting receivable is reasonably assured. Title and risk of loss transfers based upon customer acceptance for a system that has been delivered and installed at a customer facility or, for certain systems, upon shipping terms. For systems that include customer-specific acceptance criteria, the Company is required to assess when it can demonstrate the acceptance criteria has been met, which generally is upon customer acceptance and evidence of installation.

        When products are sold through an independent distributor or a strategic distribution partner who assumes responsibility for installation, the Company recognizes the system sale when the product has been shipped and title and risk of loss have been transferred to the distributor. The Company's distributors do not have price protection rights or rights of return; however, the Company's products are typically warranted to be free from defect for a period of one year. Revenue is deferred until cash is received when collectability is not reasonably assured or when the price is not fixed or determinable.

        For transactions that include multiple elements, arrangement consideration is allocated to each element using the fair value hierarchy as required by ASU No. 2009-13. The Company limits the amount of revenue recognized for delivered elements to the amount that is not contingent on the future delivery of products or services, future performance obligations, or subject to customer-specific return or refund privileges.

        The Company determines the fair value of its products and services based upon vendor specific objective evidence ("VSOE"). The Company determines VSOE based on its normal selling pricing and discounting practices for the specific product or service when sold on a stand-alone basis. In determining VSOE, the Company's policy requires a substantial majority of selling prices for a product or service to be within a reasonably narrow range. The Company also considers the class of customer, method of distribution and the geographies into which products and services are being sold when determining VSOE.

        If VSOE cannot be established, the Company attempts to establish the selling price based on third-party evidence ("TPE"). VSOE cannot be established in instances where a product or service has not been sold separately, stand-alone sales are too infrequent or product pricing is not within a sufficiently narrow range. TPE is determined based on competitor prices for similar deliverables when sold separately.

        When the Company cannot determine VSOE or TPE, it uses estimated selling price ("ESP") in its allocation of arrangement consideration. The objective of ESP is to determine the price at which the Company would typically transact a stand-alone sale of the product or service. ESP is determined by considering a number of factors including the Company's pricing policies, internal costs and gross profit objectives, method of distribution, market research and information, recent technological trends, competitive landscape and geographies. The Company analyzes the selling prices used in its allocation of arrangement consideration, at a minimum, on an annual basis. Selling prices will be analyzed more frequently if a significant change in the Company's business or other factors necessitate more frequent analysis or if the Company experiences significant variances in its selling prices.

        Revenue from accessories and parts is recognized upon shipment. Service revenue is recognized as the services are performed or ratably over the contractual obligation and includes maintenance contracts, extended warranty, training, application support and on-demand services.

        The Company also has contracts for which it applies the percentage-of-completion model and completed contract model of revenue recognition. Application of the percentage-of-completion method requires the Company to make reasonable estimates of the extent of progress toward completion of the contract and the total costs the Company will incur under the contract and losses are recorded immediately when we estimate that contracts will ultimately result in a loss. Changes in the estimates could affect the timing of revenue recognition.

        Other revenues are primarily comprised of licensing arrangements, which is recognized ratably over the term of the related contracts.

 

 

SegmentReportingDisclosureTextBlock

 

 

Note 19—Business Segment Information

        The Company has two reportable segments, BSI and BEST, as discussed in Note 1 to the consolidated financial statements.

        Selected business segment information is presented below for the years ended December 31, (in millions):

                                                                                                                                                                                    

 

 

 

 
 

 

 
 

2015

 
 

 

 
 

2014

 
 

 

 
 

2013

 
 

 

 
 

Revenue:

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

BSI

 
 

 

 
 

$

 
1,499.2 
 

 

 
 

$

 
1,674.6 
 

 

 
 

$

 
1,709.5 
 

 

 
 

BEST

 
 

 

 
 

 

 
133.7 
 

 

 
 

 

 
152.9 
 

 

 
 

 

 
147.4 
 

 

 
 

Eliminations (a)

 
 

 

 
 

 

 
(9.1 
 

)

 
 

 

 
(18.6 
 

)

 
 

 

 
(17.5 
 

)

 
 

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

Total revenue

 
 

 

 
 

$

 
1,623.8 
 

 

 
 

$

 
1,808.9 
 

 

 
 

$

 
1,839.4 
 

 

 
 

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

Operating Income (Loss):

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

BSI

 
 

 

 
 

$

 
133.2 
 

 

 
 

$

 
99.8 
 

 

 
 

$

 
138.9 
 

 

 
 

BEST

 
 

 

 
 

 

 
11.5 
 

 

 
 

 

 
3.4 
 

 

 
 

 

 
9.5 
 

 

 
 

Corporate, eliminations and other (b)

 
 

 

 
 

 

 
1.0 
 

 

 
 

 

 
2.2 
 

 

 
 

 

 
(0.2 
 

)

 
 

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

Total operating income

 
 

 

 
 

$

 
145.7 
 

 

 
 

$

 
105.4 
 

 

 
 

$

 
148.2 
 

 

 
 

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 

 


 

 

 

 

 
 

 

 
 

 

 
 

(a)          

 
 

Represents product and service revenue between reportable segments.

 
 

(b)          

 
 

Represents corporate costs and eliminations not allocated to the reportable segments.

 

        The Company recorded an impairment charge of $4.6 million for the year ended December 31, 2015 within the BSI Segment. The Company recorded an impairment charge of $11.5 million for the year ended December 31, 2014, of which $6.4 million was within the BSI Segment and $5.1 million within the BEST Segment. Please see Note 7—Property, Plant and Equipment, net and Note 8—Goodwill and Other Intangible Assets, for description of impairment charges recorded in 2015 and 2014. These impairment charges are included within "Impairment of assets" in the accompanying consolidated statements of income and comprehensive income (loss).

        Total assets by segment as of and for the years ended December 31, are as follows (in millions):

                                                                                                                                                                                    

 

EarningsPerSharePolicyTextBlock

 

 

Earnings Per Share

        Net income per common share attributable to Bruker Corporation shareholders is calculated by dividing net income attributable to Bruker Corporation by the weighted-average shares outstanding during the period. The diluted net income per share computation includes the effect of shares which would be issuable upon the exercise of outstanding stock options and the vesting of restricted stock, reduced by the number of shares which are assumed to be purchased by the Company under the treasury stock method.

        The following table sets forth the computation of basic and diluted weighted average shares outstanding for the years ended December 31, (in millions, except per share data):

                                                                                                                                                                                    

 

 

 

 
 

 

 
 

2015

 
 

 

 
 

2014

 
 

 

 
 

Assets:

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

BSI

 
 

 

 

 

 
 

 

 
 

2015

 
 

 

 
 

2014

 
 

 

 
 

2013

 
 

 

 
 

Net income attributable to Bruker Corporation, as reported

 
 

 

 
 

$

 
101.6  
 

 

 
 

$

 
56.7  
 

 

 
 

$

 
80.1  
 

 

 
 

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

Weighted average shares outstanding:

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Weighted average shares outstanding-basic

 
 

 

 
 

 

 
168.2  
 

 

 
 

 

 
167.8  
 

 

 
 

 

 
166.5  
 

 

 
 

Effect of dilutive securities:

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Stock options and restricted stock units

 
 

 

 
 

 

 
0.9  
 

 

 
 

 

 
1.7  
 

 

 
 

 

 
2.0  
 

 

 
 

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

 

 
 

 

 
 

 

 
169.1  
 

 

 
 

 

 
169.5  
 

 

 
 

 

 
168.5  
 

 

 
 

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

Net income per common share attributable to Bruker Corporation shareholders:

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Basic

 
 

 

 
 

$

 
0.60  
 

 

 
 

$

 
0.34  
 

 

 
 

$

 
0.48  
 

 

 
 

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

Diluted

 
 

 

 
 

$

 
0.60  
 

 

 
 

$

 
0.33  
 

 

 
 

$

 
0.48  
 

 

 
 

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​