Bruker Corporation (NASDAQ: BRKR) today reported financial results for its first quarter ended March 31, 2015.
Bruker’s revenues for the first quarter of 2015 were $353.5 million, a decline of 16.6 percent compared to the first quarter of 2014. Excluding a 2.6 percent net negative effect from acquisitions & divestitures, and an 11.0 percent negative effect from changes in foreign exchange rates, Bruker reported a year-over-year organic revenue decline of 3.0 percent in the first quarter of 2015.
“Our first quarter 2015 revenues were lower due to foreign exchange rates, divestitures, and a decline in our nuclear magnetic resonance (NMR) business as a result of weaker NMR demand in 2014,” said Frank Laukien, President and CEO of Bruker. “Despite the lower revenues, we are pleased to report higher non-GAAP operating margins, an increase in non-GAAP EPS and improved free cash flow. Our lower spending and improved profit margins are the result of our ongoing restructuring programs and the product line divestitures we completed in our Chemical & Applied Markets (CAM) division last year. On a currency-adjusted basis, we experienced healthy order growth in the first quarter of 2015, with strength in our NMR business.”