Azenta, Inc. · NASDAQ:AZTA
Azenta — Brooks Automation — Q1 FY2011 Earnings Presentation
15 slides from Azenta's earnings presentation, Feb 4, 2011
Slide 1: 1st Quarter Fiscal 2011 Financial Results Conference Call
(c) Copyright 2011 by Brooks Automation, Inc. - Proprietary Information 1 1st Quarter Fiscal 2011 Financial Results Conference Call
Slide 2: Safe Harbor Statement
(c) Copyright 2011 by Brooks Automation, Inc. - Proprietary Information 2 Safe Harbor Statement "Safe Harbor" Statement under the U.S. Private Securities Litigation Reform Act of 1995; certain matters in this presentation, including forecasts of future demand and future Company performance, are forw
Slide 3: Sequential Tax and Currency Effects Offset Operating Leverage
(c) Copyright 2011 by Brooks Automation, Inc. - Proprietary Information 3 Sequential Tax and Currency Effects Offset Operating leverage $ millions Q4FY10 Q1FY11 Change Revenues $ 181.6 $ 178.4 $( 3.2) Operating profit (before special charges)* 22.6 23.9 1.4 Special charges (0.2) (0.2) 0.0 Interest &
Slide 4: Margin Expansion Continues
(c) Copyright 2011 by Brooks Automation, Inc. - Proprietary Information 4 Margin Expansion Continues $ millions Q4FY10 Q1FY11 Change Revenues $ 181.6 $ 178.4 $( 3.2) Gross Profit 55.2 57.3 2.1 Gross Margin % 30.4% 32.1% 1.7% Research & development 8.0 8.9 (0.9) Selling, general & administrative 24.6
Slide 5: Revenue and Earnings Waterfall
(c) Copyright 2011 by Brooks Automation, Inc. - Proprietary Information 5 Revenue and Earnings Waterfall 4th Quarter Fiscal 2010 $ 181.6 $22.6 Critical Solutions ( 0.6) 0.6 Systems Solutions ( 3.5) 0.0 GCO (Service) business growth 0.9 1.2 Resolution of prior period service costs 0.3 Increased engin
Slide 6: Cumulative Adjusted EBITDA growth at 35% of Revenue Growth
(c) Copyright 2011 by Brooks Automation, Inc. - Proprietary Information 6 Cumulative Adjusted EBITDA* growth at 35% of Revenue Growth R E V E N U E S A D J E B I T D A* Extended Factory mix 32 - 34% * Non -GAAP measure See www.brooks.com for the reconciliation to the appropriate GAAP measure measure
Slide 7: Cash Flow Components
(c) Copyright 2011 by Brooks Automation, Inc. - Proprietary Information 7 Cash flow Components Adjusted EBITDA * $ 29.9 Restructuring Cash Flow ( 1.2) Growth in inventories ( 11.3) Other working capital ( 0.2) Capital expenditures ( 1.6) Other ( 0.1) Net Change in Cash and Marketable securities $ 15
Slide 8: Selected Balance Sheet Accounts
(c) Copyright 2011 by Brooks Automation, Inc. - Proprietary Information 8 Selected Balance Sheet Accounts Cash & marketable securities 142.4 157.9 Accounts Receivable, net 92.3 87.6 DSO improves to 44 days Inventories, net 115.8 127.1 Build to support continuity of supply. Turns back to June 2010 le
Slide 9: Return on Invested Capital
(c) Copyright 2011 by Brooks Automation, Inc. - Proprietary Information 9 Return on Invested Capital Net Income 24.2 $23.5 Less: Special charges and interest income 0.0 0.0 Operating Return 24.2 23.5 Shareholders Equity 389.4 413.9 Less: Cash & Marketable Securities 142.4 157.9 Investment in Operati
Slide 10: Critical Solutions Segment
(c) Copyright 2011 by Brooks Automation, Inc. - Proprietary Information 10 Critical Solutions Segment $ millions Q4FY10 Q1FY11 Comments on Sequential Trends Revenues $ 75.0 $ 74.4 Lumpiness in chiller product growth Gross Profit 30.4 31.0 Margin expansion to 41.7% Operating Expenses 16.9 17.5 Increa
Slide 11: Systems Solutions Segment
(c) Copyright 2011 by Brooks Automation, Inc. - Proprietary Information 11 Systems Solutions Segment $ millions Q4FY10 Q1FY11 Comments on Sequential Trends Revenues $ 89.8 $ 86.2 Systems in inventory at major OEM Gross Profit 20.6 20.6 Margin expands to 23.9% Operating Expenses 10.7 10.7 Segment Ope
Slide 12: Global Customer Operations
(c) Copyright 2011 by Brooks Automation, Inc. - Proprietary Information 12 Global Customer Operations $ millions Q4FY10 Q1FY11 Comments on Sequential Trends Revenues $ 16.9 $ 17.7 Double digit robot service growth Gross Profit 4.2 5.7 Margin expands to 32.2% Operating Expenses 4.5 4.4 Segment Operat
Slide 13: Revenue and Earnings Guidance
(c) Copyright 2011 by Brooks Automation, Inc. - Proprietary Information 13 Revenue and Earnings Guidance $ millions Q1FY10 Q2FY11 Comments on Sequential Trends Revenues $ 178.4 > $185.0 LED, MEMS and touch pad market growth Some growth in larger OEM business Gross margins 32.1% 31 - 32% Exceptional
Slide 14: 1st Quarter Fiscal 2011 Financial Results Conference Call
(c) Copyright 2011 by Brooks Automation, Inc. - Proprietary Information 14 1st Quarter Fiscal 2011 Financial Results Conference Call
Slide 15: GAAP to Non-GAAP Reconciliation
(c) Copyright 2011 by Brooks Automation, Inc. - Proprietary Information 15 GAAP to Non-GAAP Reconciliation