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Brooks Automation Reports Fiscal Third Quarter Ended June 30, 2013 Results; Announces Appointment Of Mark D. Morelli As President

CHELMSFORD, Mass., Aug. 8, 2013 (GLOBE NEWSWIRE) -- Brooks Automation, Inc. (Nasdaq:BRKS), a leading worldwide provider of automation, vacuum and instrumentation solutions for multiple markets, including semiconductor manufacturing and life sciences, today reported financial results for the third quarter and nine months ended June 30, 2013.

Fiscal Third Quarter of 2013 Financial and Operational Highlights:

  • Revenues were $118.1 Million; Order Bookings increased $6.8 million on a sequential basis to $128.1 million;
  • Brooks Life Science Systems Bookings increased to $18.5 million;
  • GAAP Earnings Per Share was $0.02; Adjusted Earnings Per Share excluding special charges was $0.03
  • Cash flow from Operations was $12.9 million;
  • Cash, Cash Equivalents and Marketable Securities as of June 30, 2013 were $150.7 million, or $2.26 per diluted share with no Debt;
  • Generated 17 Design-in-Wins for Semiconductor and Adjacent market customers.
Summary of GAAP and Non-GAAP Earnings
           
  Quarter Ended Nine Months Ended
  June 30, March 31, June 30,  June 30, June 30,
000's except EPS  2013 2013 2012 2013 2012
           
GAAP Net Income (Loss) attributable to Brooks $1,544 $(538) $8,028 $(8,230) $20,572
GAAP Diluted Earnings (Loss) per share $0.02 $(0.01) $0.12 $(0.13) $0.31
           
Adjusted Net Income (Loss) attributable to Brooks $1,965 $600 $8,943 $(1,277) $25,810
Adjusted Diluted Earnings (Loss) per Share $0.03 $0.01 $0.14 $(0.02) $0.39

A reconciliation of non-GAAP measures to the most nearly comparable GAAP measure follows the consolidated balance sheets, statements of operations and statements of cash flows included in this release.

Management Comments

"Despite flat market conditions over the quarter, we generated revenue and profits performance in line with our guidance. Cash flow generation was strong as we continued to improve gross margin and reduce inventory," said Steve Schwartz, Chief Executive Officer of Brooks. "We closed out several of the major Life Science Systems orders that were in our pipeline and we booked $18.5 million of orders in this business during the quarter. This was an important step in the recovery of this business after a period of slow spending. New leadership in the Life Science Systems business is strongly focused on working with current and prospective customers to maintain this momentum."

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