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Brooks Automation Reports Results of its Second Quarter of Fiscal 2020, Ended March 31, 2020, and Announces Quarterly Cash Dividend
Double-digit Revenue Growth in Both Segments Supports High Growth in EPS CHELMSFORD, Mass., April 30, 2020 /PRNewswire/ -- Brooks Automation, Inc. (Nasdaq:
About this update from Azenta, Inc.
[{"type":"text","content":"Double-digit Revenue Growth in Both Segments Supports High Growth in EPS\n\n\nCHELMSFORD, Mass., April 30, 2020 /PRNewswire/ -- Brooks Automation, Inc. (Nasdaq: BRKS), today reported financial results for the second fiscal quarter, ended March 31, 2020.\nFinancial Results Summary\nQuarter Ended\nDollars in millions, except per share data\nMarch 31, \nDecember 31,\nMarch 31, \nChange vs.\n2020\n2019\n2019\nPrior Qtr\nPrior Year\nRevenue\n$\n220\n$\n210\n$\n198\n5\n%\n11\n%\nSemiconductor Solutions \n$\n125\n$\n119\n$\n113\n5\n%\n11\n%\nLife Sciences \n$\n95\n$\n92\n$\n86\n4\n%\n11\n%\nDiluted EPS Continuing Operations\n$\n0.12\n$\n0.18\n$\n(0.04)\n(30)\n%\nNM\nDiluted EPS Total\n$\n0.12\n$\n0.18\n$\n0.05\n(30)\n%\n161\n%\nNon-GAAP Diluted EPS Cont. Operations\n$\n0.25\n$\n0.23\n$\n0.17\n11\n%\n48\n%\n \nManagement Comments \"We performed well in the second quarter as we met our customers' needs in each business,\" commented Steve Schwartz, CEO of Brooks Automation. \"Our Life Sciences business overcame some COVID-19 headwinds at various stages of the quarter, including temporary closure of our China operations. Despite the challenges, our dedicated team delivered strong growth across both businesses. We are particularly proud that our Life Sciences products and services have satisfied urgent demand from our customers involved with COVID-19 research. Strong demand for our Semiconductor products continued throughout the quarter as chip manufacturers maintained their spending plans.\" \nSummary of GAAP Results for Continuing Operations\nRevenue of $220 million grew 11% year over year and diluted EPS from continuing operations was $0.12 per share compared to a loss of ($0.04) per share in the second quarter of 2019. Life Sciences revenue of $95 million grew 11% year over year and 4% sequentially. Year-over-year organic growth was 11%. Semiconductor Solutions revenue was $125 million, an increase of 11% year over year and 5% sequentially. Increased shipments for Automation Systems and another record revenue quarter from Contamination Control Solutions drove the sequential growth. GAAP operating income was $15 million, compared to $14 million in the second quarter of 2019. The increase was driven by higher revenue and a 40 basis point improvement in gross margins. GAAP operating margins were lower in the second quarter, compared with t...