Azenta, Inc. · NASDAQ:AZTA
Azenta — Brooks Automation — Q3 FY2008 Earnings Presentation
10 slides from Azenta's earnings presentation, Aug 8, 2008
Slide 1: Q3 Fiscal 2008 Financial Results Conference Call
Q3 Fiscal 2008 Financial Results Conference Call August 7, 2008 4:30 p.m. ET
Slide 2: Earnings In Line with Guidance
Earnings In Line with Guidance Q3 FY08 $000's Q3 FY08 DEPS YTD FY08 $000's YTD FY08 DEPS Reported Loss from Continuing Operations ($10,326) ($0.17) ($20,409) ($0.31) Add: Restructuring Expense 2,571 $0.04 5,677 $0.09 Add: Loss on Investment - - 2,931 $0.04 Loss before Special Charges from Cont Ops (
Slide 3: Cost Reductions offset Flow through from Revenue Declines
Cost Reductions offset Flow through from Revenue Declines $000's Q2 FY08 Q3 FY08 Change Revenues $147,647 $124,016 $(23,631) Gross profit 36,439 28,857 ( 7,582) Research & development 11,553 10,270 1,283 SG&A 29,896 25,636 4,260 Restructuring charges 2,506 2,571 ( 65) Operating Income ( $7,516) ($9,
Slide 4: Bridging Sequential Operating Performance
Bridging Sequential Operating Performance $ millions 2nd Quarter Operating Loss ( 7.5) Lost contribution on revenue decline (12.0) Increase in royalty revenues 1.1 Restructuring benefits and cost containment 5.1 Reduction in legal costs incurred on equity incentive matters 2.4 Non-recurrence of exce
Slide 5: Increased Operating Loss & Unfavorable Foreign Currency Result Impact Net Loss
Increased Operating Loss & Unfavorable Foreign Currency Result Impact Net Loss $000's Q2 FY08 Q3 FY08 YTD FY08 Comments on Sequential Trends Operating loss ($7,516) ($9,620) ($20,822) Fixed cost absorption impacting gross profit Interest income, net 1,496 1,144 5,716 Impact of lower cash holdings &
Slide 6: Critical Components Segment Trends
Critical Components Segment $000's Q2 FY08 Q3 FY08 YTD FY08 Comments on Sequential Trends Revenues $35,136 $28,341 $98,173 Declines in cryogenic vacuum pump revenues Gross profit Gross margin% 13,286 37.8% 10,241 36.1% 36,370 37.0% Flow through of lost variable contribution Operating expenses 9,604
Slide 7: Automated Systems Segment Trends
Automated Systems Segment $000's Q2 FY08 Q3 FY08 YTD FY08 Comments on Sequential Trends Revenues $81,527 $58,873 $223,740 Tool automation systems and Extended Factory most impacted Gross profit Gross margin % 16,997 20.8% 9,733 16.5% 46,509 20.8% Flow through of lost variable contribution Operating
Slide 8: Global Customer Support Segment Trends
Global Customer Support Segment $000's Q2 FY08 Q3 FY08 YTD FY08 Comments on Sequential Trends Revenues $30,984 $36,802 $97,853 Legacy hardware revenue increases Gross profit Gross margin % 6,156 19.9% 8,883 24.1% 20,866 21.3% Volume fall through to gross margin on legacy products Operating expenses
Slide 9: Q3 FY08 Cash Flows
Q3 FY08 Cash Flows Net Income from Continuing Operations ( $10,326) ( $10,326) Depreciation & Amortization 8,835 8,835 Stock based compensation 1,069 1,069 Other non-cash items 286 286 Change in assets 1,563 1,563 Cash flow from Continuing Operations Cash flow from Continuing Operations 1,427 Capita
Slide 10: September Quarter Guidance
2008 September Quarter Guidance Revenues could be in the range between $110 million and $125 million Loss from Continuing Operations before special Charges could be in the range of $0.15 to $0.05