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Azenta Life Sciences Reports Preliminary Results of Second Quarter of Fiscal 2022, Ended March 31, 2022
Robust customer demand bolstered by operational execution drives strong second quarter results CHELMSFORD, Mass., May 9, 2022 /PRNewswire/ -- Azenta, Inc.
About this update from Azenta, Inc.
[{"type":"text","content":"Robust customer demand bolstered by operational execution drives strong second quarter results\n CHELMSFORD, Mass., May 9, 2022 /PRNewswire/ -- Azenta, Inc. (Nasdaq: AZTA) today reported preliminary financial results for the second quarter ended March 31, 2022.\nSummary of Preliminary Results\nOn February 1, 2022, the Company completed the sale of its Semiconductor Automation business. The related gain on the sale and the results of the Semiconductor Automation business are treated as discontinued operations and reflected in total diluted EPS. Due to the complexities of the financial carve-out of the business from the Company's financial results, the Company expects it will require additional time to finalize its financial statements and intends to file a Form 12b-25 with the Securities and Exchange Commission in order to extend the due date of its quarterly report on Form 10-Q for the quarter ended March 31, 2022 for five days, as permitted by Rule 12b-25 under the Securities Exchange Act. As a result, the financial results presented herein are preliminary. \nQuarter Ended\nDollars in millions, except per share data\nMarch 31, \nDecember 31, \nMarch 31, \nChange\n2022\n2021\n2021\nPrior Qtr.\nPrior Yr.\nRevenue from Continuing Operations\n$\n146\n$\n140\n$\n130\n4\n%\n12\n%\nLife Sciences Products\n$\n54\n$\n50\n$\n52\n7\n%\n2\n%\nLife Sciences Services\n$\n92\n$\n90\n$\n77\n2\n%\n19\n%\nDiluted EPS Continuing Operations\n$\n(0.02)\n$\n0.04\n$\n(0.10)\n(163)\n%\n75\n%\nDiluted EPS Total\n$\n28.15\n$\n0.58\n$\n0.32\nNM\nNM\n%\nNon-GAAP Diluted EPS Continuing Operations\n$\n0.12\n$\n0.12\n$\n0.14\n(2)\n%\n(15)\n%\nAdjusted EBITDA Continuing Operations\n$\n19\n$\n20\n$\n24\n(2)\n%\n(18)\n%\nManagement Comments \n\"We delivered another strong quarter with healthy demand across the portfolio,\" stated Steve Schwartz, President and CEO. \"Even as we faced COVID headwinds in certain regions, the team did a remarkable job to mitigate the impact to the business. We continued to enhance our commercial positioning as Azenta and see a long runway ahead driven by our unique value proposition in strong and fast-growing end markets.\"\nSummary of Preliminary Q2 GAAP Results \nRevenue from continuing operations for the second quarter was $146 million, up 12% year over year and up 4% sequentially. Year-over-year organic growth was 12%. Revenue ...