Research Desk Line-up: TearLab Post Earnings Coverage
LONDON, UK / ACCESSWIRE / August 23, 2017 /Pro-Trader Daily has just published a free post-earnings coverage on Bruker Corp. (NASDAQ: BRKR), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=BRKR, following the Company's disclosure of its financial results on August 03, 2017, for the second quarter of the fiscal year 2017. The Company's revenue increased 11.6% on a y-o-y basis. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
Get more of our free earnings reports coverage from other constituents of the Medical Laboratories & Research industry. Pro-TD has currently selected TearLab Corporation (NASDAQ: TEAR) for due-diligence and potential coverage as the Company reported on August 14, 2017, its consolidated financial results for Q2 and first half 2017 which ended on June 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on TearLab when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on BRKR; also brushing on TEAR. With the links below you can directly download the report of your stock of interest free of charge at:
For the three months ended June 30, 2017, Bruker's total revenue increased 11.6% to $414.9 million on a y-o-y basis, including an organic growth of 7.6% on a y-o-y basis, from $371.7 million in Q2 FY16. The total revenue surpassed analysts' expectations of $381 billion.
During Q2 FY17, Bruker's gross profit increased 8% to $183.4 million from $170.1 million in Q2 FY16. For the reported quarter, the Company's gross margin decreased 160 basis points to 44.2% of revenue from 45.8% of revenue in Q2 FY16. During Q2 FY17, Bruker's adjusted gross profit increased 9% to $193.3 million from $176.9 million in Q2 FY16. For the reported quarter, the Company's adjusted gross margin decreased 100 basis points to 46.6% of revenue from 47.6% of revenue in Q2 FY16.
For the reported quarter, Bruker's selling, general, and administrative expenses (SG&A) were 24.8% of revenue compared to 27.1% of revenue in Q2 FY16. During Q2 FY17, the Company's adjusted SG&A were 24.3% of revenue compared to 26.9% of revenue in Q2 FY16. During Q2 FY17, the Company's R&D expenses were 9.8% of revenue compared to 9.9% of revenue in the same quarter last year.
During Q2 FY17, Bruker's operating income increased 64% to $33.5 million from $20.4 million in the same quarter last year. For the reported quarter, the Company's operating margin increased 260 basis points to 8.1% of revenue from 5.5% of revenue in Q2 FY16. During Q2 FY17, Bruker's adjusted operating income increased 29% to $51.7 million from $40.0 million in the same quarter last year. For the reported quarter, the Company's adjusted operating margin increased 170 basis points to 12.5% of revenue from 10.8% of revenue in Q2 FY16.
For the reported quarter, Bruker's net income increased 61% to $23.4 million on a y-o-y basis from $14.5 million in Q2 FY16. During Q2 FY17, the Company's diluted earnings per share (EPS) increased 67% to $0.15 on a y-o-y basis from $0.09 in Q2 FY16. During Q2 FY17, the Company's adjusted net income increased 11% to $36.1 million on a y-o-y basis from $32.6 million in Q2 FY16. During Q2 FY17, the Company's adjusted diluted EPS increased 15% to $0.23 on a y-o-y basis from $0.23 in Q2 FY16. The adjusted diluted EPS surpassed analysts' expectations of $0.20.
On August 14, 2017, Bruker's Board of Directors declared a cash dividend of $0.04 per share on the Company's common stock to be paid on September 22, 2017, to stockholders of record as of September 05, 2017.
Scientific Instruments (BSI) - During Q2 FY17, Bruker's Scientific Instruments segment's revenue increased 5% to $362.5 million from $345.8 million in Q2 FY16. For the reported quarter, the segment's operating income increased 61% to $30.5 million from $18.9 million in Q2 FY16.
Energy & Supercon Technologies - During Q2 FY17, Bruker's Energy & Supercon Technologies segment's revenue increased 89% to $54 million from $28.5 million in Q2 FY16. For the reported quarter, the segment's operating income increased 114% to $3 million from $1.4 million in Q2 FY16.
As on June 30, 2017, Bruker's cash provided by operating activities was negative $17.2 million compared to positive $18.1 million in Q2 FY16. For the reported quarter, the Company's free cash flow was negative $26.8 million compared to positive $8.9 million in Q2 FY16.
For the reported quarter, Bruker's adjusted free cash flow was negative $26.8 million compared to positive $8.9 million in Q2 FY16.
During Q2 FY17, the Company's working capital to revenue ratio was $0.39 compared to $0.36 in Q2 FY16.
For FY17, Bruker expects revenue growth to be in the range of 4.5% - 6% and organic revenue growth to be in the band of 1.5% - 2%. The Company estimates adjusted EPS to be in the range of $1.08 - $1.12.
On Tuesday, August 22, 2017, the stock closed the trading session at $28.51, climbing 1.75% from its previous closing price of $28.02. A total volume of 453.93 thousand shares have exchanged hands. Bruker's stock price surged 5.91% in the last three months, 18.54% in the past six months, and 29.71% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have soared 34.61%. The stock is trading at a PE ratio of 28.57 and has a dividend yield of 0.56%. At Tuesday's closing price, the stock's net capitalization stands at $4.51 billion.
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