BILLERICA, Mass., May 12, 2017 /PRNewswire/ -- 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 Company's common stock over a two-year period commencing
May 12, 2017.
Under this 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 Company's repurchases
may be executed using open market purchases, privately negotiated
purchases or other transactions during the period from May 12, 2017 to May 11,
2019.
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.
"With our strong balance sheet, ongoing margin expansion and
cash flow generation progress, we are continuing our share
repurchases with the approval of a new $225
million, two-year program," said Tony Mattacchione, Bruker's Senior Vice
President and Chief Financial Officer. "We are confident in
our ability to fund our organic growth initiatives and further
portfolio transformation, while staying committed to disciplined
capital deployment and to adding value to both Bruker and its
shareholders."
Bruker Corporation also announced today that its Board of
Directors has approved payment of a quarterly cash dividend in the
amount of $0.04 per share on the
Company's common stock. The dividend will be paid on
June 23, 2017 to stockholders of
record as of June 5, 2017.
About Bruker Corporation
For more than 55 years, Bruker has enabled scientists to make
breakthrough discoveries and develop new applications that improve
the quality of human life. Bruker's high-performance
scientific instruments and high-value analytical and diagnostic
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. In recent
years, Bruker has also become a provider of high-performance
systems for cell biology, preclinical imaging, clinical phenomics
and proteomics research, clinical microbiology, and for molecular
pathology research. For more information, please visit:
www.bruker.com.
Forward Looking Statements
This press release contains forward-looking statements,
including, but not limited to, statements regarding the Company's
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 Company's Form 10-K for the year ended
December 31, 2016 and its other
filings with the Securities and Exchange Commission: a change in
the Company's share repurchase program by the Company's 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 Company's 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:
Miroslava
Minkova
Head of Investor Relations
Bruker
Corporation
T: +1 (978) 663 – 3660, ext.
1479
E:
Miroslava.Minkova@Bruker.com
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SOURCE Bruker Corporation