Business
Azenta Reports Fourth Quarter and Full Year Fiscal 2022 Results, Authorizes $1.5 Billion Share Repurchase Program
Delivered on Expected Q4'22 Revenue of $138 millionStrong Double-Digit Organic Growth Excluding COVID for Q4 and Full Fiscal Year Plan to Repurchase at Least
About this update from Azenta, Inc.
[{"type":"text","content":" \nDelivered on Expected Q4'22 Revenue of $138 millionStrong Double-Digit Organic Growth Excluding COVID for Q4 and Full Fiscal Year Plan to Repurchase at Least $1 Billion of Common Stock Over the Coming Year, Including $500 Million Accelerated Share Repurchase Program30% Total Revenue Growth Expected in Fiscal 2023CHELMSFORD, Mass., Nov. 14, 2022 /PRNewswire/ -- Azenta, Inc. (Nasdaq: AZTA) today reported financial results for the fourth quarter and fiscal year ended September 30, 2022.\n\nQuarter Ended\nYear Ended\nDollars in millions, except per share data\nSeptember 30, \nSeptember 30, \nSeptember 30, \nSeptember 30, \n2022\n2021\nChange\n2022\n2021\nChange\nRevenue from Continuing Operations\n$\n138\n$\n137\n0\n%\n$\n555\n$\n514\n8\n%\n Organic growth ex-COVID impacts\n12\n%\n17\n%\nLife Sciences Products\n$\n48\n$\n53\n(9)\n%\n$\n199\n$\n200\n0\n%\nLife Sciences Services\n$\n89\n$\n84\n6\n%\n$\n356\n$\n314\n13\n%\nDiluted EPS Continuing Operations\n$\n(0.07)\n$\n(0.30)\n76\n%\n$\n(0.15)\n$\n(0.39)\n61\n%\nDiluted EPS Total\n$\n(0.28)\n$\n0.29\n(195)\n%\n$\n28.48\n$\n1.49\nnm\nNon-GAAP Diluted EPS Continuing Operations\n$\n0.16\n$\n0.12\n34\n%\n$\n0.51\n$\n0.48\n6\n%\nAdjusted EBITDA Continuing Operations\n$\n9\n$\n21\n(55)\n%\n$\n62\n$\n86\n(27)\n%\nManagement Comments \nSteve Schwartz, President and CEO, stated, \"We exit fiscal 2022 having successfully transformed into a standalone life sciences business with significant opportunities ahead of us. We achieved strong double-digit organic growth of 12% in the quarter and 17% in the fiscal year, excluding estimated COVID impacts. In the fourth quarter of fiscal 2022, we regained momentum in our genomics business and saw sustained strength in large-automated stores, which posted another record bookings quarter. We remain focused on execution and on driving broader adoption of our unique offerings.\n\"We're also pleased to announce that our Board has authorized a new $1.5 billion share repurchase program and we intend to repurchase at least $1 billion of common stock over the coming year, beginning with a $500 million accelerated share repurchase. This program is a testament to our commitment to returning value to shareholders. It underscores our strong capital position, and our view that we have significant upside opportunity. Even with this meaningful repurchase of shares, w...