Business
Azenta Reports First Quarter Results For Fiscal 2023, Ended December 31, 2022
Reported Q1'23 Revenue of $178 Million and Growth of 28% Year-Over-YearDelivered Organic Growth Excluding COVID of 7%Reducing Cost Structure to Deliver Two
About this update from Azenta, Inc.
[{"type":"text","content":"Reported Q1'23 Revenue of $178 Million and Growth of 28% Year-Over-YearDelivered Organic Growth Excluding COVID of 7%Reducing Cost Structure to Deliver Two Points of Margin Enhancement in 2nd Half FY23BURLINGTON, Mass., Feb. 8, 2023 /PRNewswire/ -- Azenta, Inc. (Nasdaq: AZTA) today reported financial results for the first quarter ended December 31, 2022.\nQuarter Ended\nDollars in millions, except per share data\nDecember 31, \nSeptember 30, \nDecember 31, \nChange\n2022\n2022\n2021\nPrior Qtr\nPrior Yr.\nRevenue from Continuing Operations\n$\n178\n$\n138\n$\n140\n30\n%\n28\n%\n Organic growth ex-COVID impacts\n7\n%\nLife Sciences Products\n$\n90\n$\n48\n$\n50\n85\n%\n80\n%\nLife Sciences Services\n$\n89\n$\n89\n$\n90\n(1)\n%\n(1)\n%\nDiluted EPS Continuing Operations\n$\n(0.15)\n$\n(0.07)\n$\n0.04\nnm\nnm\nDiluted EPS Total\n$\n(0.15)\n$\n(0.28)\n$\n0.58\nnm\nnm\nNon-GAAP Diluted EPS Continuing Operations\n$\n0.12\n$\n0.16\n$\n0.12\n(21)\n%\n4\n%\nAdjusted EBITDA Continuing Operations\n$\n12\n$\n9\n$\n20\n27\n%\n(40)\n%\n \nManagement Comments \n\"Our first fiscal quarter growth highlights the strength of the business, achieving 7% organic growth excluding COVID impacts, while delivering record revenue from B Medical, the recent addition to our cold chain portfolio,\" stated Steve Schwartz, President and CEO, \"Integration of B Medical is well under way and momentum continues in many areas across the business. In addition, we have initiated actions to streamline our business structure to enhance efficiency in operations, which we expect to contribute two points of margin improvement in the third fiscal quarter. In all, we see significant opportunity ahead and remain focused on delivering profitable growth.\"\nFirst Quarter Fiscal 2023 Results\nThe Company has referenced in the explanation of revenue the estimated impact of COVID which includes the estimated revenue contribution from products delivered and services rendered to support COVID testing and research, and estimated constraints on the business due to disruptions in customer demand or the Company's ability to deliver in the COVID environment.\n% Change YtY\nReported\nOrganic\nOrganic ex-COVIDimpacts\nTotal Azenta Revenue\n28\n%\n(1)\n%\n7\n%\n Life Sciences Products\n80\n%\n(6)\n%\n15\n%\n Life Sciences Services\n(1)\n%\n2\n%\n4\n%\n \nRevenue was $178 million, up 28% y...