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Bruker Releases Final Q4, Full-Year 2020 Results

NEW YORK – Bruker on Friday released final Q4 and full year 2020 results showing Q4 revenues up 8 percent year over year and full-year revenues up 9 percent.

The company reported preliminary revenues on Feb. 18 but postponed reporting of final results due to an allegation regarding accounting irregularities. After an investigation the company found that its financial results, including revenue and operating income, were unchanged from those in its preliminary report.

Bruker's earnings per share in Q4, which the company was not previously able to report, was $.44, down from $.50 in Q4 2019. For full-year 2019, EPS was $1.26, up from $1.14 in 2018. On an adjusted basis, Q4 EPS was $.53 and full-year EPS was $1.57.

The company also announced that it is suspending its full-year 2020 guidance due to the COVID-19 pandemic. It added that it expects revenues and earnings in the first half of the year to be negatively impacted by COVID-19 disruptions to its operations, customer operations, and global supply chains and logistics.

Regarding the allegation that led to the reporting delay, the company said it was "related to the company's year-end close, primarily related to income tax matters, including the effective income tax rate for 2019 and the related income tax balance sheet accounts."

The company said it had completed an investigation "with the assistance of independent, external legal counsel and independent forensic accountants," and added that its financial results, including revenue and operating income, were unchanged from those in its preliminary report.

Bruker said the investigation did not identify any "material misstatements or omissions regarding the company's financial statements, nor any misconduct, violations of the company's code of conduct or tone at the top failures."

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