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15.02.03 Bruker AXS Reports Record Revenues of $104.3 Million in 2002; Revenues of $29.6 Million and Cash from Operations of $4.7 Million in the Fourth Quarter of 2002
FOURTH QUARTER 2002
Net sales for the three months ended December 31, 2002 increased 33% to $29.6 million, compared to $22.3 million for the three months ended December 31, 2001. Excluding favorable currency effects, fourth quarter 2002 net sales increased 25% year-over-year. Gross margins continued to improve, increasing to 41.4% in the fourth quarter of 2002 compared to 39.9% in the same period in 2001. During the quarter, the Company took a special non-cash charge of $1.3 million to write-down investments in two unaffiliated proteomics companies.
On a GAAP basis, the net loss for the fourth quarter 2002 was $(0.4) million or $(0.01) per diluted share, compared to $(5.4) million or $(0.13) per diluted share for the fourth quarter 2001. Net income before special charges for the fourth quarter 2002, which excludes the non-cash write-down of investments, was $0.9 million or $0.02 per diluted share. This compares to net income before special charges of $0.2 million or $0.00 per diluted share for the fourth quarter 2001, excluding one-time non-cash charges for preferred stock accretion and beneficial conversion of $5.6 million.
Cash and cash equivalents totaled $52.7 million as of December 31, 2002. During the fourth quarter 2002, the Company generated cash from operations of $4.7 million and free cash flow of $2.9 million.
YEAR ENDED DECEMBER 31, 2002
Net sales for the year ended December 31, 2002 increased 26% to $104.3 million, compared to $82.6 million for the year 2001. Excluding favorable currency effects, 2002 net sales increased 22% compared to the prior year. The MAC Science acquisition contributed $4.7 million of net sales in 2002. The net sales increase was driven by strong demand for the Company's systems, particularly in materials research and industrial process control. Gross margins improved for the year as well, increasing to 39.5% in 2002 from 38.2% in 2001.
15.11.02 The Bruker quarterly report published under news (11/14/02) on the Bruker AXS stock report page of the Nasdaq site makes interesting reading including:
S4 Pioneer sales in the third quarter were $1.6M ie around 12-13 units.
They made a loss.
Headcount is reduced by 5%
UK manufacturing (S2) will move to Germany.
10.11.02 THIRD QUARTER 2002
Net sales for the three months ended September 30, 2002 increased 27% to $26.9 million, compared to $21.2 million for the three months ended September 30, 2001. The net sales increase was driven by continued strong demand for our systems, particularly in the materials research segment. Excluding favorable currency effects, third quarter 2002 net sales increased 19% year-over-year.
In the third quarter of 2002, Bruker AXS took a previously announced restructuring charge of $1.8 million before taxes, primarily for its workforce and cost reduction program. Net income for the third quarter 2002, excluding the after-tax effects of the restructuring charge, was $0.3 million, or $0.01 per diluted share, compared to a net loss of $(0.3) million, or $(0.01) per diluted share, for the third quarter 2001. On a GAAP basis, the net loss for the third quarter 2002 was $(0.8) million or $(0.01) per diluted share.
Cash and cash equivalents totaled $49.1 million as of September 30, 2002.
NINE MONTHS ENDED SEPTEMBER 30, 2002
Net sales for the nine months ended September 30, 2002 increased 24% to $74.7 million, compared to $60.2 million for the nine months ended September 30, 2001. Excluding favorable currency effects, year-to-date net sales increased 21% compared to the prior year.
15.09.02 The NEW D8 DISCOVER - New Frontiers in the Nano-World
The NEW D8 DISCOVER – more functionality, easier to use, higher safety … than ever before.

The NEW D8 DISCOVER is redesigned with improvements to not only the measurement software, but to more than 100 individual mechanical parts. This redesign increases the functionality of the system while making operation easier for the user. In addition, an extended level of operation safety is implemented.

The NEW D8 DISCOVER features:
the new Centric Eulerian cradle
the new Pathfinder module
the new LEPTOS thin film evaluation software
the new MULTEX Area software and
the new add-on robotic wafer handler
10.09.02 Relaunch of the Bruker AXS Website: What's new?
Presentation of the business areas to which Bruker AXS offers outstanding solutions:
Molecular Structure Determination
Material Research and Science
Industrial Process and Quality Control

New customer area providing a literature pool where registered customers can download various publications
More new pages:
- Products - Lab automation solutions
- News - Used Instruments and Components for sale
05.09.02 Bruker AXS cuts costs despite good quarter
Bruker AXS has announced a restructuring aimed at taking $2-3 million out of annual costs, despite exceeding expectations in the third quarter of fiscal 2002 ended 30th June. Revenues were up to 19% compared with a year ago at $24.0 million. Net income of $0.6 million improved compared with a net loss of &1.8 previously. For the first six months sales grew 22% to $47.8 million and net income was $0.9 million, as against a net loss of $1.6 million. Growth was driven by sales of its X-ray systems in the materials science sector. Sales in Japan were boosted by the acquisition of MAC Science. Bruker AXS expects strong 20% growth for the rest of the year from materials sciences and its life sciences, where the company just launched a new range of X-ray based systems for structural proteomics. That growth could take Bruker AXS to over $100 million in annual sales.
25.08.02 Bruker AXS launches its complete new X8 Product Line for Life Science Applications at IUCr Conference in Geneva, Switzerland.
15.08.02 Bruker AXS announces Stock repurchase program.
The company announced that its Board of Directors has authorized the repurchase of up tp 2.5 million shares of Bruker AXS common stock. The Board of Directors views Bruker AXS’ stock as undervalued in the market place and it believes that the stock repurchase program will be beneficial to Bruker AXS shareholders.
13.08.02 Bruker posts profit, cuts 5% of workforce
August 13, 2002
Bruker posts profit, cuts 5% of workforce
Fitchburg-based Bruker AXS Inc., which develops sophisticated X-ray systems for life and materials sciences, reported a second-quarter profit on increased sales, and a restructuring that included about 5 percent cut in its workforce.
Bruker reported second-quarter net income of $609,000, or 1 cent per diluted share, on revenues of $24 million, compared with a net loss of $1.8 million, or 4 cents per diluted share, on revenues of $20.2 million a year ago.

The cuts reduced Bruker's global workforce from about 560 to about 530, including about 100 locally, where seven positions were eliminated, CEO Martin Haase said in an interview today.
The positions cut were redundant due to Bruker's two acquisitions over the past 18 months. The cuts, streamlining production and reducing operating expenses will produce annual cost savings of $2 million to $3 million, the company said.
"This is a global program to improve our profitability," Haase said.

The company said it raised its revenue guidance for the year to a range of $99 million to $101 million, up more than 20 percent over 2001, on strong backlog, new orders and the launch of new products.
10.08.02 Bruker has launched a new High-Throughput Screening System for combinatorial Analysis at the Denver conference.. The system, called D8 Discover CST (comprised of a D8 Discover with GADDS for combinatorial screening in transmission) is a high-throughput X-Ray analysis tool specifically targeted at pharmaceutical and combinatorial chemistry applications, a high growth area in the analysis of advanced materials, including drug development. The D8 Discover CST was designed in response to customer demand for more efficient ways of analysing many samples at thigh speed.
   
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