Bruker BioSciences Corporation (NASDAQ: BRKR) today announced
preliminary financial results for its fourth quarter, which ended on
December 31, 2006. The Company is providing this preliminary financial
information prior to its planned public offering roadshow. Bruker
BioSciences plans to release its fourth quarter and full year 2006
financial results on February 22, 2007.
On July 1, 2006, Bruker BioSciences completed its acquisition of
Bruker Optics Inc., which was accounted for in a manner similar to a
pooling of interests. As a result of this accounting treatment, all
historical financials have been pooled as if the companies had always
been combined. On December 15, 2006, the Company filed a Form 8-K with
the Securities and Exchange Commission (SEC) which presents pooled
historical financial statements as of and for the three years ended
December 31, 2005.
For the fourth quarter of 2006, the Company expects to report
revenue between $130 million and $135 million, or approximately 22% to
26% revenue growth year-over-year, and earnings in the range of $0.07
to $0.09 per diluted share. For the fourth quarter of 2005, pooled
revenue was $106.8 million, and pooled earnings were $0.05 per diluted
share.
For the full year 2006, the Company expects to report pooled
revenue between $430 million and $435 million, or approximately 15% to
17% revenue growth compared to the full year 2005, and pooled earnings
in the range of $0.15 to $0.17 per diluted share. Included in earnings
for the full year 2006 were after-tax charges of $5.0 million, or
$0.05 per diluted share, related to the acquisition of Bruker Optics.
Also included in earnings for the full year 2006 were after-tax gains
on derivative financial instruments of approximately $2.0 million, or
$0.02 per diluted share. For the full year 2005, pooled revenue was
$372.3 million, and pooled earnings were $0.10 per diluted share.
Included in earnings for the full year 2005 were after-tax losses on
derivative financial instruments of $(1.0) million, or $(0.01) per
diluted share.
The Company's fourth quarter and full-year 2006 financial results
stated above are preliminary and do not present all information
necessary for an understanding of the Company's 2006 financial
position and results of operations. Moreover, the full year 2006
financial results are currently being audited by the Company's
independent registered public accounting firm. The Company's
completion of its 2006 financial statements, and the related audit of
these financial statements, could result in changes to the preliminary
financial results stated above.
In the first quarter of 2006, our pooled revenue was $94.9
million, with operating income of $4.9 million and earnings of $0.03
per diluted share. For the first quarter of 2007, we anticipate
year-over-year top-line growth and operating income improvement. For
the first quarter of 2007, we also expect a modest year-over-year
bottom-line improvement due to reduced 'interest and other income'
after our investments in three acquisitions in the second half of
2006. The foregoing is a forward looking statement and is subject to
risks and uncertainties including those described below under
"Cautionary Statement".
William Knight, Chief Financial Officer, commented: "I am very
pleased that in the year 2006 we delivered strong growth in both
revenue and EPS. Our goal is to continue our steady annual financial
improvements in 2007 and beyond. Traditionally, our fourth quarter has
been our best quarter of the year, and our fourth quarter 2006 was
particularly strong."
Concerning the planned imminent start of the Company's roadshow,
Mr. Knight added: "We believe that our planned public follow-on
offering will further enhance the liquidity of our stock for our
institutional investors."
On December 15, 2006 the Company had announced the filing of a
registration statement on Form S-3 with the SEC for a proposed
offering of 10,400,000 shares of BRKR common stock, with 2,200,000
shares to be offered by the Company and 8,200,000 shares to be offered
by four Laukien shareholders. President and CEO Frank Laukien is not
selling shares in this offering. The result of this offering would be
an increase in the Company's public float from presently 37.6% to
46.7%, or to 48.0%, if the 1,560,000 share over-allotment option is
exercised in full.
We have filed a registration statement (including a prospectus)
with the SEC for the offering to which this communication relates.
Before you invest, you should read the prospectus in that registration
statement and other documents we have filed with the SEC for more
complete information about Bruker BioSciences and this offering. You
may get these documents for free by visiting EDGAR on the SEC Web site
at www.sec.gov. Alternatively, we, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus
if you request it by calling Bear, Stearns & Co. Inc. toll-free at
1-866-803-9204, by calling UBS Securities LLC toll free at
1-888-827-7275, or by emailing us at Michael.Willett@bruker.com.
ABOUT BRUKER BIOSCIENCES (NASDAQ: BRKR)
Bruker BioSciences Corporation, headquartered in Billerica,
Massachusetts, is the publicly traded parent company of Bruker
Daltonics Inc., Bruker AXS Inc. and Bruker Optics Inc. For more
information, please visit www.bruker-biosciences.com
-- Bruker AXS is a leading developer and provider of advanced
X-ray tools used primarily in life science and materials
research, as well as of X-ray and OES elemental analysis
instrumentation used primarily in industrial applications.
-- Bruker Daltonics is a leading developer and provider of
innovative life science tools based on mass spectrometry and
also develops and provides a broad range of field analytical
systems for chemical, biological, radiological and nuclear
detection.
-- Bruker Optics is a leading developer and provider of research,
analytical and process analysis instruments and solutions
based on infrared and Raman molecular spectroscopy technology.
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, 2005, 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.
