Brooks Automation Reports First Quarter Financial Results

• Diluted Earnings per Share of $0.36
• Excluding Special Charges Adjusted Diluted Earnings of $0.37

CHELMSFORD, Mass., Feb. 3, 2011 (GLOBE NEWSWIRE) -- Brooks Automation, Inc. (Nasdaq:BRKS) announced financial results for the Company's first quarter of fiscal year 2011 ended on December 31, 2010.

Revenues for the first quarter of fiscal 2011 were $178.4 million, compared to revenues of $106.2 million in the first quarter of fiscal 2010, an increase of 68.0%. Sequentially, revenues declined 1.8% from fourth quarter fiscal 2010 revenues of $181.6 million.

Net income attributable to Brooks Automation, Inc. ("Brooks") for the first quarter of fiscal 2011 amounted to $23.5 million, or $0.36 per diluted share.

Excluding  special charges, the adjusted net income of $23.7 million or $0.37 per diluted share compares on a sequential basis with $24.4 million or $0.38 per diluted share and  improves from a loss of $(1.1) million or $(0.02) per diluted share in the first quarter of fiscal 2010. Special charges and their impact on comparative results are identified in the unaudited table included with this release. Including special charges, the Net Income attributable to Brooks in the fourth quarter was $24.2 million or $0.38 per diluted share and the Net Loss attributable to Brooks in the first quarter of fiscal 2010 was $(2.8) million or $(0.04) per diluted share.

Adjusted Earnings before Interest, Tax, Depreciation and Amortization for the first quarter of fiscal 2011 was $29.9 million, which compared to $29.7 million in the fourth quarter of fiscal 2010 and $5.6 million in the first quarter of fiscal 2010. A reconciliation of non-GAAP measures to the most nearly comparable GAAP measure follows the consolidated statements of operations, balance sheets and statements of cash flows included in this release.

Net cash provided by operating activities for the first quarter of fiscal 2011 was $17.7 million, which net of capital expenditures of $1.6 million resulted in an increase of total cash and marketable securities to $157.9 million at December 31, 2010.