Earnings release
Page 1
BRUKER Bruker Reports Second Quarter 2021 Financial Results • Q2 2021 revenue growth of 34.4 % year - over - year ; organic revenue growth of 27.2 % • Q2 2021 GAAP EPS of $ 0.38 ; non - GAAP EPS of $ 0.44 , compared to $ 0.21 in Q2 2020 • Strong financial performance in the Bruker Scientific Instruments and BEST businesses drives a further increase in fiscal year 2021 guidance BILLERICA , Massachusetts - August 2 , 2021 - Bruker Corporation ( Nasdaq : BRKR ) today announced financial results for its second quarter and for the six months ended June 30 , 2021 . Second Quarter 2021 Financial Results Bruker's revenues for the second quarter of 2021 were $ 570.8 million , an increase of 34.4 % compared to the second quarter of 2020. In the second quarter of 2021 , revenues increased 27.2 % organically year - over - year , growth from acquisitions was 0.4 % and foreign currency translation had a positive effect of 6.8 % . The reported and organic revenue increases were broad - based across Bruker Scientific Instruments ( " BSI " ) and Bruker Energy & Supercon Technologies ( " BEST " ) and were driven by robust demand for the Company's solutions and products , as well as a strong recovery compared to the second quarter of 2020 . Second quarter 2021 BSI revenues of $ 517.1 million increased 34.9 % year - over - year , including organic revenue growth of 27.8 % . BEST revenues of $ 56.6 million increased 26.3 % year - over - year , including an organic revenue increase , net of intercompany eliminations , of 21.8 % . GAAP operating income in the second quarter of 2021 was $ 85.6 million , compared to $ 37.9 million in the prior year period , representing GAAP operating margins of 15.0 % and 8.9 % , respectively . Non - GAAP operating income was $ 98.8 million , compared to $ 49.0 million in the prior year period . Bruker's second quarter 2021 non- GAAP operating margin was 17.3 % , compared to 11.5 % in the second quarter of 2020 . GAAP diluted earnings per share ( EPS ) in the second quarter of 2021 were $ 0.38 , compared to $ 0.16 in the second quarter of 2020. Non - GAAP diluted EPS were $ 0.44 , compared to $ 0.21 in the prior year period . The year - over - year increases in the Company's GAAP and non - GAAP operating income , operating margins and EPS were driven by higher revenues and volume , and favorable operating expense leverage , compared to the second quarter of 2020 , which was negatively affected by COVID - 19 disruptions . First Six Months of 2021 Financial Results For the first six months of 2021 , Bruker's revenues were $ 1,125.5 million , an increase of 32.6 % from $ 848.6 million in the first six months of 2020. In the first half of 2021 , revenues increased 25.5 % organically year - over- year , growth from acquisitions was 0.6 % and foreign currency translation had a positive effect of 6.5 % . In the first half of 2021 , BSI revenues of $ 1,023.3 million increased 33.8 % compared to the prior year period , including organic revenue growth of 26.7 % . First half 2021 BEST revenues of $ 109.0 million increased 19.8 % year - over - year , including an organic revenue increase , net of intercompany eliminations , of 14.3 % .