Good day ladies and gentlemen and welcome to the Bruker Corporation Quarterly Earnings Call. (Operator Instructions) I would now like to turn the presentation over to your host for today’s call Mr. Bill Knight, Chief Financial Officer of Bruker Corporation.

Good morning and welcome to the Bruker Corporation Fourth Quarter 2007 Financial Results Conference Call. With me on today’s call are Frank Laukien, President and CEO and Brian Monahan our Corporate Controller. During the call today we will discuss the combined financial results of Bruker Corporation as it has legally existed now only since February 26, 2008. These combined Bruker Financials, denoted with a capital ‘C’ in our earnings release which we issued earlier this morning, now include the financial results of the Bruker BioSpin Group which we acquired on February 26, 2008. These combined financial results will be compared in some cases to the historical stand alone financial results of Bruker BioSciences Corporation as it legally existed on December 31, 2007. We refer to these historical financials as our stand alone financial results, denoted with a capital ‘F’ in today’s earnings release. During the call today Frank will provide an overview of our combined financial results for the fourth quarter and full year 2007 as well as our financial goals for 2008. I’ll follow up with a more detailed discussion of our combined and stand alone financial results for 2007. Then we will open up the lines for any questions. Before getting started I would like to read our safe harbor statement. This discussion will include forward looking statements. These statements are based on current expectations but are subject to risks and uncertainties that could cause actual results to differ materially from those projected including but not limited to risks and uncertainties relating to the integration of businesses we have acquired or may acquire in the future, changing technologies, product development and market acceptance of our products. The cost and pricing of our products, manufacturing, competition, dependence on collaborative partners and key suppliers, capital spending and government funding policies,…

Good morning everyone. We appreciate you joining our earnings call today. The combined financial results for Bruker Corporation in the fourth quarter and full year 2007 were very solid. For the full year 2007 we achieved rapid currency adjusted combined top line growth of 15%. Our adjusted combined operating margin which excludes acquisition charges expanded by 50 basis points and our adjusted combined net income again, excluding acquisition charges, grew by 31% compared to our combined 2006 results. Our combined net income in the fourth quarter of 2007 was $37 million or $0.22 per diluted share compared to net income of $35.6 million or $0.22 per diluted share in the fourth quarter 2006. Included in combined GAAP net income for the fourth quarter 2007 were after tax charges of $6.9 million or $0.04 per diluted share for expenses related to the acquisition of the Bruker BioSpin Group. Therefore, we had combined adjusted EPS of $0.26 per share in the fourth quarter of 2007 excluding the Bruker BioSpin Group acquisition charges. Combined net income for the full year 2007 was $97.2 million or $0.59 per diluted share compared to combined net income of $74.8 million or $0.47 per diluted share during 2006. Included in our combined GAAP net income for the full year 2007 were after tax charges of $7.4 million or $0.05 per diluted share for expenses related to the acquisition of the Bruker BioSpin Group. For comparison included in our combined GAAP net income during 2006 were after tax charges of $5 million or $0.03 per diluted share for expenses related to the acquisition of Bruker Optik which was completed on July 1, 2006. As you can see from our combined 2007 financials reported this morning the addition of the Bruker BioSpin Group to Bruker Corporation represents a significant…

During the fourth quarter of 2007 combined revenues grew by 31% or by approximately 22% when we exclude foreign exchange tail winds. For the full year 2007 our combined revenues grew by 21% which included approximately 1% from acquisitions, 6% from foreign exchange tail winds and 14% organic growth. Combined fourth quarter 2007 revenue of $343.1 million was 87% higher than the stand alone fourth quarter 2006 revenue of $183.7 million as previously reported by Bruker BioSciences Corporation. Our combined gross profit margins were 45.5% for the full year 2007 versus 46.8% in 2006 in part due to the weak dollar as we manufacture a majority of our products in European countries. Although our combined gross margins were lower year over year our combined operating margin for the full year 2007 was 13.1% up 50 basis points from 12.6% in the year 2006 as a result of volume leverage across all our operating expenses. During the year 2007 on a combined basis we incurred $43.3 million of income tax expense on pre-tax income of $140.8 million, resulting in an effective tax rate of 30.8% compared to a combined effective tax rate of 33% in 2006. Our combined 2007 effective tax rate dropped primarily due to the revaluation of certain deferred tax assets and liabilities as a result of a corporate tax law change in Germany and acted in the third quarter of 2007. Combined net income for the full year 2007 was $97.2 million or $0.59 per diluted share compared to combined net income of $74.8 million or $0.47 per diluted share during the year 2006. Included in GAAP net income for the full year 2007 were after tax charges of $7.4 million or $0.05 per diluted share for expenses related to the acquisition of the Bruker BioSpin Group. For comparison included in combined GAAP net income during 2006 were after tax charges of $5 million or $0.03 per diluted share for expenses related to the acquisition of Bruker Optik which was completed on July 1, 2006. Combined 2007 net income of $97.2 million was 208% higher than the stand alone 2007 net income of $31.5 million as previously reported by Bruker BioSciences Corporation. Combined 2007 earnings per diluted share of $0.59 were 97% higher than the stand alone 2007 earnings per diluted share of $0.30 as previously reported by Bruker BioSciences Corporation. For the full year 2007 combined operating cash flow was $127.1 million compared to $82.8 million in the year 2006 combined free cash flow defined as operating cash flow less capital expenditures was $101.8 million during 2007 compared to $61.7 million during 2006. As of December 31, 2007, the combined Bruker Corporation had net cash of $290.4 million. With that we would like to open it up for questions and answers.

(Operator Instructions) Your first question comes from the line of Derik DeBruin of UBS. Derik DeBruin – UBS: A couple of housekeeping questions, I was curious in terms of what the gross margin impact was from the US Dollar in 4Q07 for the combined company? How much did the strong Dollar hurt you?

We don’t have a number that we want to give. I want to emphasize that we do produce most of our products in Europe. That strong Dollar does impact the costs that we incur in the US. We also sell in various parts of the world and parts of Asia with US Dollar based contracts so there is an impact with that strong Dollar.

We also have a lot of our expenses in Dollars and some more of our manufacturing in Dollars so we cannot exactly quantify it. Generally it hurts our gross margins but benefits our expenses. Derik DeBruin – UBS: It doesn’t look like its going to get any stronger any time soon. The top line guidance of greater than 8% total sales growth, is that an all in number including the FX impact?

Yes.

As recorded at current exchange rate. Derik DeBruin – UBS: Would the implied step down from 14% organic growth in the combined company in 2007 to the 2008 number implies what’s going on with the core business? Is it more concerned at the end market?

Our goal for 2007 was revenue growth greater than 10%, we reached much higher than that. Our goal for 2008 is revenue growth greater than 8% due to general concerns about the economic situation. We are always happy to try to beat our own goals but this is what we are setting ourselves as goals this year. Derik DeBruin – UBS: There’s usually an eliminations line that goes in with the revenue, what was it in 4Q in 2007 for the combined company and will this remain going forward?

The elimination for revenue in the fourth quarter was a little over $12 million, $12.2 million. Derik DeBruin – UBS: For the full year?

Full year it was a little over $38 million, $38.5 million. Derik DeBruin – UBS: Does that number stay the same going forward?

Historically, probably a reasonable ballpark figure. There certainly can be fluctuations, it’s as good a number to you as anything. Derik DeBruin – UBS: On current market conditions, I realize you just had your conference call, and saw you at Pittcon but do you see anything in the end market that makes you a little bit nervous in terms of any change in tone of your customers?

No, it’s really the front page of the Wall Street Journal that makes us a little bit cautious. We don’t really have March data and Q1 data as I also mentioned at Pittcon. Q4 was very strong for Q1 we don’t really have any meaningful data yet. So far we have not seen any significant deterioration of our markets but clearly one has to approach this year with more caution about general economic conditions than previous years. Derik DeBruin – UBS: Obviously there will be the usual seasonal step down from 4Q to 1Q of revenues because of the strong year end finish.

That we always expect, that’s correct Q4 is always seasonally very high.

(Operator Instructions) There are no more questions at this time.

We’d like to thank everybody for joining us this morning and we look forward to speaking to you after our first quarter. Thank you and have a good day.

Thank you for your participation in today’s conference. This concludes the presentation you may now disconnect and have a great day.