Bruker reported its full-year financial results following the publication of IBO’s quarterly sales issue (see IBO 2/29/08). The company also reported pro forma annual results that include Bruker BioSpin (see IBO 12/15/07), showing what to expect now that the companies have merged.

Bruker’s fourth-quarter revenues grew 35.5%, 26% on a currency-neutral basis, to $183.7 million (see page 12). Product revenue climbed 36.9% to $164.9 million and Service revenue improved 22.9% to $18.4 million, while Other revenue jumped 103.2% to $449,000. Adjusted operating profits jumped 77.0% to $28.0 million and operating profit margins improved 358 basis points to 15.3% of sales, while gross margins remained flat at 46.6% of sales.

Year-end revenues rose 25.6.% to $547.6 million, including 7% growth from favorable currency transactions and 2% growth from acquisitions. Product revenue climbed 25.4% to $482.2 million and Service revenue improved 29.3% to $64.6 million, while Other revenue declined 35.8% to $870,000. Adjusted operating profits jumped 50.1% to $54.6 million and operating profit margins improved 163 basis points to 10.0% of sales, while and gross margins gained 50 points to 46.2% of sales.

For the full-year, Bruker AXS’s sales rose 35.9%, 30.0% on a currency-neutral basis, to $244.0 million, including 4.9% growth from acquisitions. Bruker Daltonics’ sales grew 18.1%, 10.7% on a currency-neutral basis, to $188.6 million. Bruker Optics’ sales improved 16.1%, 10.7% on a currency-neutral basis, to $122.5 million. For the total company, sales to Germany and North America grew 28.1% and 23.8% to account for 38.1% and 23.8% of revenues, respectively, while sales to Japan and Other regions declined 4.7% and 37.2% to make up 7.7% and 30.3% of revenues, respectively.

On a pro forma basis, including Bruker BioSpin, 2007 revenues increased 21.3% to $1,032.4 million. Product revenue increased 20.4% to $913.2 million and Service revenue rose 31.3% to $115.4. Other revenue fell 17.6% to $3.8 million. Adjusted operating income jumped 26.4% to $142.5 million, and operating profit margins rose 55 basis points to 13.8% of sales. Gross profit margins slipped 135 basis points to 45.5% of sales. For 2008, Bruker has set a goal to achieve revenue growth of more than 8% and operating margins of greater than 14%.