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July 23, 2014
12:16 EDTBRKRBruker says profitability to improve once CAM restructuring plan implemented
Bruker approved a plan to divest certain assets and implement a restructuring program in the Chemical & Applied Markets, CAM, division within the Bruker CALID Group. These divestment and restructuring actions are expected to result in a reduction of CAMís employee headcount by approximately 200 to 250 people and are expected to lead to CAM-related restructuring and other one-time charges of between $35M and $40M, of which $10M to $13M are expected to result in future cash charges for employee separation and facility exit costs, and $25M to $27M are estimated for inventory write-downs and asset impairments. The restructuring charges are expected to be incurred in the 2H14 and 1H15. Proceeds from potential divestitures cannot be estimated at this time. The company currently anticipates that the annual run-rate revenues for the CAM products and services will be reduced by approximately $50M-$70M, and profitability is expected to be improved by $15M to $20M annually, once the Plan is fully implemented. The company expects to provide further details on its CAM restructuring plans and financial outlook for 2014 on its Q214 earnings conference call scheduled for August 6. Additionally, as the Plan is implemented, management will continue to evaluate the estimated costs associated with the Plan and may revise its estimates of such costs and the related accounting charges.
News For BRKR From The Last 14 Days
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May 21, 2015
10:09 EDTBRKRBruker falls sharply, levels to watch
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10:04 EDTBRKRHigh option volume stocks
09:58 EDTBRKROn The Fly: Analyst Downgrade Summary
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05:48 EDTBRKRBruker downgraded to Market Perform from Outperform at William Blair
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05:31 EDTBRKRBruker downgraded to Neutral from Buy at Mizuho
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May 20, 2015
16:39 EDTBRKRBruker authorizes share repurchase program, amount not specified
In a regulatory filing, Bruker reports that on May 15, its board of directors authorized a share repurchase program pursuant to which the company may repurchase common stock in amounts intended to approximately offset, on an annual basis, the dilutive effect of shares that may be issued pursuant to option awards or restricted stock grants under its compensation plan. It is currently expected that the annual repurchase activity will initially target an amount of shares not to exceed 1% of the total number of shares.
16:20 EDTBRKRBruker CFO Charles Wagner to depart June 12
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May 19, 2015
08:50 EDTBRKRBruker has a conference call hosted by JPMorgan
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07:28 EDTBRKRUBS to hold a conference
Global Healthcare Conference is being held in New York on May 18-20 with webcasted company presentations to begin on May 19 at 8 am; not all company presentations may be webcasted. Webcast Link
May 14, 2015
09:11 EDTBRKRBruker secures contract for DE-tector ETD system
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