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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Bruker Corporation | NASDAQ:BRKR | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.17 | -0.26% | 65.11 | 65.09 | 65.11 | 65.62 | 63.97 | 65.62 | 741,906 | 20:41:17 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 11, 2015
BRUKER CORPORATION
(Exact name of registrant as specified in its charter)
Delaware |
|
000-30833 |
|
04-3110160 |
40 Manning Road
Billerica, MA 01821
(Address of principal executive offices)(Zip Code)
Registrants telephone number, including area code: (978) 663-3660
Check the appropriate box if the Form 8-K filing is intended to simultaneously satisfy the reporting obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 of the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Section 8 Other Events
Item 8.01. Other Events.
On November 11, 2015, the Board of Directors of Bruker Corporation (the Company) approved a share repurchase program authorizing the purchase of up to $225 million of the Companys common stock over a two-year period commencing November 12, 2015.
Under the share repurchase program, the Company may repurchase its common stock from time to time, in amounts, at prices, and at such times as the Company deems appropriate, subject to market conditions, legal requirements and other considerations. The Companys repurchases may be executed using open market purchases, privately negotiated purchases or other transactions during the period from November 12, 2015 to November 11, 2017. The Company intends to fund repurchases under the share repurchase program from cash on hand and available borrowings under its existing credit facility. The share repurchase program does not obligate the Company to repurchase any specific number of shares and may be suspended, modified or terminated at any time without prior notice.
Effective November 11, 2015, activity under the Companys previously announced repurchase program is suspended until January 1, 2017. Under that program, the Company is authorized to repurchase its common stock in amounts intended to offset, on an annual basis, the dilutive effect of shares that are or may be issued pursuant to option awards or restricted stock grants under the Companys long-term equity incentive plans. Year to date through November 11, 2015, the Company repurchased approximately 1.25 million shares for a total cost of $24.9 million under the anti-dilutive repurchase authorization.
A copy of the Companys press release announcing approval of the $225 million share repurchase program is attached as Exhibit 99.1 to this Current Report on Form 8-K.
FORWARD-LOOKING STATEMENTS
This report contains forward-looking statements, including, but not limited to, statements regarding the Companys commitment to repurchasing its shares at any level in the future, the anticipated value of shares to be repurchased by the Company, the expected timing of such repurchases and the availability of funds for the repurchase of shares. These forward-looking statements are based on current information and expectations, and involve a number of risks and uncertainties. Actual future results and/or events may differ materially from such expectations as a result of important risk factors, which include, in addition to those identified in the Companys Form 10-K for the year ended December 31, 2014 and its other filings with the Securities and Exchange Commission: a change in the Companys share repurchase program by the Companys Board of Directors or management, including changes in the value of shares to be repurchased or the timing of such repurchases, and unanticipated material payment obligations incurred by the Company that decrease the Companys willingness or ability to repurchase shares at the anticipated level and timing, or at all. These risks and uncertainties could cause actual results to differ materially from those referred to in these forward-looking statements. The Company expressly disclaims any obligation to update or revise these forward-looking statements, except as otherwise specifically stated by the Company or as required by law or regulation.
Section 9 Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Number |
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99.1 |
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Press release dated November 13, 2015. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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BRUKER CORPORATION | |
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(Registrant) | |
|
| |
Date: November 13, 2015 |
By: |
/s/ANTHONY L. MATTACCHIONE |
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Anthony L. Mattacchione |
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|
Senior Vice President and |
|
|
Interim Chief Financial Officer |
Exhibit Index
Exhibit |
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Exhibit Name |
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Location |
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99.1 |
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Press release dated November 13, 2015. |
|
Filed herewith |
Exhibit 99.1
Bruker Announces New $225 Million Share Repurchase Program
BILLERICA, Mass. November 13, 2015 Bruker Corporation (NASDAQ: BRKR) today announced that its Board of Directors has approved a new share repurchase program authorizing the purchase of up to $225 million of the Companys common stock over a two-year period commencing November 12, 2015.
Under the $225 million share repurchase program, the Company may repurchase its common stock from time to time, in amounts, at prices, and at such times as the Company deems appropriate, subject to market conditions, legal requirements and other considerations. The Companys repurchases may be executed using open market purchases, privately negotiated purchases or other transactions during the period from November 12, 2015 to November 11, 2017.
The Company intends to fund repurchases under this share repurchase program from cash on hand and available borrowings under its existing credit facility. The share repurchase program does not obligate the Company to repurchase any specific number of shares, and may be suspended, modified or terminated at any time without prior notice.
Additionally, effective November 11, 2015, activity under the Companys previously announced repurchase program is suspended until January 1, 2017. Under that program, the Company is authorized to repurchase its common stock in amounts intended to offset, on an annual basis, the dilutive effect of shares that are or may be issued pursuant to option awards or restricted stock grants under the Companys long-term equity incentive plans. Year to date through November 11, 2015, the Company repurchased approximately 1.25 million shares for a total cost of $24.9 million under the anti-dilutive repurchase authorization.
Our new $225 million share buyback program reflects our confidence in the progress Bruker is making in its transformation and in its ongoing margin expansion, said Frank Laukien, President & CEO of Bruker. With a strong balance sheet and improving cash flow, we now have flexibility to return capital to shareholders, while we continue to invest for profitable growth.
About Bruker Corporation
For more than 50 years, Bruker has enabled scientists to make breakthrough discoveries and develop new applications that improve the quality of human life. Brukers high-performance scientific research instruments and high-value analytical solutions enable scientists to explore life and materials at molecular, cellular and microscopic levels.
In close cooperation with our customers, Bruker is enabling innovation, productivity and customer success in life science molecular research, in applied and pharma applications, and in microscopy, nano-analysis and industrial applications, as well as in cell biology, preclinical imaging, clinical research, microbiology and molecular diagnostics. For more information, please visit: http://www.bruker.com.
Forward Looking Statements
This press release contains forward-looking statements, including, but not limited to, statements regarding the Companys commitment to repurchasing its shares at any level in the future, the anticipated value of shares to be repurchased by the Company, the expected timing of such repurchases and the availability of funds for the repurchase of shares. These forward-looking statements are based on current information and expectations, and involve a number of risks and uncertainties. Actual future results and/or events may differ materially from
such expectations as a result of important risk factors, which include, in addition to those identified in the Companys Form 10-K for the year ended December 31, 2014 and its other filings with the Securities and Exchange Commission: a change in the Companys share repurchase program by the Companys Board of Directors or management, including changes in the value of shares to be repurchased or the timing of such repurchases, and unanticipated material payment obligations incurred by the Company that decrease the Companys willingness or ability to repurchase shares at the anticipated level and timing, or at all. These risks and uncertainties could cause actual results to differ materially from those referred to in these forward-looking statements. The Company expressly disclaims any obligation to update or revise these forward-looking statements, except as otherwise specifically stated by the Company or as required by law or regulation.
# # #
Contacts:
Joshua Young
Vice President, Investor Relations
Bruker Corporation
T: +1 (978) 667 9580, ext. 1479
joshua.young@Bruker.com
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