CHELMSFORD, Mass., Nov. 10, 2020 /PRNewswire/ -- Brooks
Automation, Inc. (Nasdaq: BRKS) today reported financial results
for the fourth fiscal quarter and fiscal year, ended September 30, 2020.
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Financial Results
Summary
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Quarter Ended
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Year
Ended
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Dollars in millions, except per share
data
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September 30,
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September 30,
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September 30,
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September 30,
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2020
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2019
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Change
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2020
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2019
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Change
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Revenue
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$
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246
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$
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199
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24
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%
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$
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897
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$
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781
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15
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%
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Semiconductor
Solutions
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$
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138
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$
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105
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31
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%
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$
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509
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$
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447
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14
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%
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Life
Sciences
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$
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108
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$
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94
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15
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%
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$
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389
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$
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334
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16
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%
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Diluted EPS
Continuing Operations
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$
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0.39
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$
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0.07
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447
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%
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$
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0.88
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$
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0.13
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567
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%
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Diluted EPS
Total
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$
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0.39
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$
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5.68
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NM
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$
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0.88
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$
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6.04
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NM
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Non-GAAP Diluted EPS
Continuing Operations
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$
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0.47
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$
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0.23
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100
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%
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$
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1.26
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$
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0.76
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65
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%
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Adjusted
EBITDA
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$
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54
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$
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31
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75
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%
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$
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161
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$
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128
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26
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%
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Management Comments
"We delivered a robust quarter
and completed a milestone year for the company," commented
Steve Schwartz, President and CEO.
"The Semiconductor Solutions and Life Sciences businesses each
continued their momentum during the quarter, once again achieving
operating margin expansion and delivering double-digit growth for
the year. The growth is proof of our ability to lead and service
two markets that have remained robust in spite of the pandemic. Our
global team's dedication and our business model's strength keeps us
positioned to address the ever-changing challenges of these
unprecedented times as we move into fiscal 2021."
Summary of GAAP Results
Fourth Quarter, Fiscal 2020
- Revenue for the fourth fiscal quarter was $246 million, up 24% year over year. Diluted EPS
from continuing operations was $0.39
per share compared to $0.07 per share
in the fourth quarter of 2019.
- Life Sciences revenue of $108
million grew 15% year over year and 16% sequentially.
Year-over-year organic growth was 17%. Life Science Products grew
20% year over year, and Life Science Services grew 12%. Organic
revenue growth in Q4, from what was previously defined as Sample
Management, was 14% year-over-year.
- Semiconductor Solutions revenue was $138
million, an increase of 31% year over year and 9%
sequentially. The growth was primarily driven by 50% year-over-year
growth in Automation, while Contamination Control Solutions and
Services each contributed single-digit growth.
Full Year, Fiscal 2020
- Revenue for fiscal 2020 was $897
million, an increase of 15% compared to fiscal 2019,
supported by double-digit growth in both Life Sciences and
Semiconductor.
- Life Sciences revenue of $389
million was 16% higher than fiscal 2019. Life Sciences
Products grew 9% and Life Sciences Services grew 20%, year over
year. In total, the Life Sciences business organic growth was 10%,
including 7% organic growth from Sample Management.
- Semiconductor Solutions revenue was $509
million, up 14% over the prior year. Growth was led by
Contamination Control Solutions at 33%, while Automation products
and Services increased 8% and 1%, respectively.
- Pre-tax income from continuing operations of $75 million was up $66
million from the prior year. The improvement was
significantly driven by operating income of $78 million, which was up $32 million, or 70%, year over year. Net interest
expense was $2 million for the year,
a reduction of $19 million from 2019.
In addition, the prior fiscal year included a $14 million loss on the extinguishment of
debt.
- The GAAP effective tax rate was 13.3% for the year.
- Diluted EPS from continuing operations was $0.88 compared to $0.13 in 2019. Total diluted EPS for this fiscal
year was $0.88 compared to
$6.04 in 2019. Discontinued
operations in fiscal 2019 provided $5.91 per diluted share primarily from the
$409 million gain on the sale of the
Semiconductor Cryogenics business.
Summary of Non-GAAP Results for Continuing Operations
Fourth Quarter, Fiscal 2020
- Diluted EPS from continuing operations for the fourth quarter
was $0.47, up 100% over the prior
year and up 48% sequentially.
- Operating income was $45 million,
an increase of 112% year over year and 51% sequentially. Operating
margin was 18.2%, up 760 basis points year over year and 470 basis
points sequentially. The margin expansion was driven by gross
margin improvements coupled with operating expense control.
- Gross margin was 46.6%, an increase of 490 basis points year
over year and 310 basis points sequentially. Gross margin expansion
was driven by improvements in both Life Sciences and Semiconductor
Solutions, both sequentially and year over year.
- The total Life Sciences operating margin was 16.2%, an increase
of 900 basis points year over year and 910 basis points from the
prior quarter. Gross margin performance of 50.5%, which was up 790
basis points year over year and up 580 basis points sequentially,
was the primary driver of improved operating margin. The Life
Sciences Products business gross margin remained stable with a 50
basis point decline sequentially, and an increase of 390 basis
points year over year, driven by sustained improvements achieved
earlier in the fiscal year. The Life Sciences Services sequential
improvement consisted of 590 basis points that was driven by
improved performance, and another 350 basis points from the
favorable mix effect of unwinding the Alliance support agreement
with RUCDR. In the Alliance arrangement, RUCDR performed the
substantive services while Brooks Life Sciences provided contract
management and other support services which came at low gross
margins. In this fourth fiscal quarter, we dissolved the business
arrangement and going forward we will have only a nominal amount of
revenue in final support of some ongoing contracts. The reported
margins for Life Science Services are up 1,020 basis points year
over year.
- Semiconductor Solutions operating margin was 20.2%, an increase
of 720 basis points from the prior year and up 170 basis points
from the third quarter of 2020. Gross margin of 43.6%, up 260 basis
points year over year and 90 basis points sequentially, was the
primary driver of the operating margin expansion.
- Adjusted EBITDA was $54 million,
up 75% from the fourth quarter of 2019 and 34% sequentially.
Full Year, Fiscal 2020
- Non-GAAP diluted EPS from continuing operations was
$1.26, a 65% increase compared to
$0.76 in 2019. The increase reflects
the 15% revenue growth described in the GAAP summary, 200 basis
points improvement in non-GAAP operating margin, and a reduction in
net interest expense of $19
million.
- The non-GAAP effective tax rate for the year was 21.9%.
- Operating income was $122
million, a 36% increase from 2019, supported by non-GAAP
gross margins of 43.6%, which improved 170 basis points. The
increase in gross margin was driven by 410 basis points improvement
in the Life Sciences gross margin.
A reconciliation of non-GAAP measures to the most nearly
comparable GAAP measures follows the consolidated balance sheets,
statements of operations and statements of cash flows included in
this release.
Cash and Liquidity
- Cash flow from operations for the fourth quarter was
$52 million. On a full year basis,
excluding the $92 million tax payment
made in the second quarter for the gain on the sale of the
Semiconductor cryogenics business, cash flow from operations
increased 24% to $129 million. This
compares to cash from operations in 2019 of $104 million excluding the transaction fees
associated with the sale of the Semiconductor cryogenics
business.
- The Company ended the fourth quarter with a total balance of
cash, cash equivalents, restricted cash, and marketable securities
of $306 million. With total debt of
$51 million, net cash at September 30, 2020 was $255 million.
Quarterly Cash Dividend
The Company additionally
announced that the Board of Directors has reiterated a dividend of
$0.10 per share payable on
December 17, 2020 to stockholders of
record on December 4, 2020.
Future dividend declarations, as well as the record and payment
dates for such dividends, are subject to the final determination of
the Company's Board of Directors.
Guidance for First Quarter Fiscal 2021
The Company
announced revenue and earnings guidance for the first quarter of
fiscal 2021. Revenue is expected to be in the range of
$237 million to $251 million and non-GAAP diluted earnings per
share is expected to be in the range of $0.37 to $0.47. GAAP diluted earnings per share for
the first fiscal quarter is expected to be in the range of
$0.27 to $0.37.
Conference Call and Webcast
Brooks management will
webcast its fourth quarter earnings conference call today at
4:30 p.m. Eastern Time. During the
call, Company management will respond to questions concerning, but
not limited to, the Company's financial performance, business
conditions and industry outlook. Management's responses could
contain information that has not been previously disclosed.
The call will be broadcast live over the Internet and, together
with presentation materials referenced on the call, will be hosted
at the Investor Relations section of Brooks' website at
www.brooks.investorroom.com, and will be archived online on this
website for convenient on-demand replay. In addition, you may
call 800-897-4057 (US & Canada
only) or +1-212-231-2914 for international callers to listen to the
live webcast.
Regulation G – Use of Non-GAAP financial Measures
The
Company supplements its GAAP financial measures with certain
non-GAAP financial measures to provide investors a better
perspective on the results of business operations, which the
Company believes is more comparable to the similar analysis
provided by its peers. These measures are not presented in
accordance with, nor are they a substitute for, U.S. generally
accepted accounting principles, or GAAP. These measures should
always be considered in conjunction with appropriate GAAP
measures. A reconciliation of non-GAAP measures to the most
nearly comparable GAAP measures is included at the end of this
release following the consolidated balance sheets, statements of
operations and statements of cash flows.
"Safe Harbor Statement" under Section 21E of the Securities
Exchange Act of 1934
Some statements in this release are
forward-looking statements made under Section 21E of the Securities
Exchange Act of 1934. These statements are neither promises nor
guarantees but involve risks and uncertainties, both known and
unknown, that could cause Brooks' financial and business results to
differ materially from our expectations. They are based on the
facts known to management at the time they are made. These
forward-looking statements include but are not limited to
statements about our revenue and earnings expectations, our ability
to increase our profitability, our ability to improve or retain our
market position, and our ability to deliver financial success in
the future. Factors that could cause results to differ from our
expectations include the following: the impact of the
COVID-19 global pandemic on the markets we serve, including our
supply chain, and on the global economy generally, the volatility
of the industries the Company serves, particularly the
semiconductor industry; our possible inability to meet demand for
our products due to difficulties in obtaining components and
materials from our suppliers in required quantities and of required
quality; the inability of customers to make payments to us when
due; the timing and effectiveness of cost reduction and cost
control measures; price competition; disputes concerning
intellectual property; uncertainties in global political and
economic conditions, and other factors and other risks, including
those that we have described in our filings with the Securities and
Exchange Commission, including but not limited to our Annual Report
on Form 10-K, current reports on Form 8-K and our quarterly reports
on Form 10-Q. As a result, we can provide no assurance that our
future results will not be materially different from those
projected. Brooks expressly disclaims any obligation or undertaking
to release publicly any updates or revisions to any such statement
to reflect any change in our expectations or any change in events,
conditions or circumstances on which any such statement is based.
Brooks undertakes no obligation to update the information contained
in this press release.
About Brooks Automation
Brooks (Nasdaq: BRKS) is a
leading provider of life science sample-based solutions and
semiconductor manufacturing solutions worldwide. The
Company's Life Sciences business provides a full suite of reliable
cold-chain sample management solutions and genomic services across
areas such as drug development, clinical research and advanced cell
therapies for the industry's top pharmaceutical, biotech, academic
and healthcare institutions globally. Brooks Life Sciences'
GENEWIZ division is a leading provider of DNA gene sequencing and
gene synthesis services. With over 40 years as a partner to
the semiconductor manufacturing industry, Brooks is a provider of
industry-leading precision vacuum robotics, integrated automation
systems and contamination control solutions to the world's leading
semiconductor chip makers and equipment manufacturers. Brooks
is headquartered in Chelmsford,
MA, with operations in North
America, Europe and
Asia. For more information, visit www.brooks.com.
INVESTOR CONTACTS:
Mark Namaroff
Director, Investor Relations
Brooks Automation
978-262-2635
mark.namaroff@brooks.com
Sherry Dinsmore
Brooks Automation
978-262-2400
sherry.dinsmore@brooks.com
BROOKS AUTOMATION,
INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)
(In thousands, except per share data)
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Three Months Ended
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Year
Ended
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September 30,
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September
30,
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2020
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2019
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2020
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2019
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Revenue
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Products
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$
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160,547
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$
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122,202
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$
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573,876
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$
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504,029
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Services
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85,649
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77,009
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323,397
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276,819
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Total
revenue
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246,196
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199,211
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897,273
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780,848
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Cost of
revenue
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Products
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91,400
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72,658
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337,442
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302,237
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Services
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42,827
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46,399
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179,807
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162,351
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Total cost of
revenue
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134,227
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119,057
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517,249
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464,588
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Gross
profit
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111,969
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80,154
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380,024
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316,260
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Operating
expenses
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Research and
development
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15,336
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14,882
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59,063
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56,368
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Selling, general and
administrative
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62,271
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53,451
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241,137
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211,960
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Restructuring
charges
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241
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1,209
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1,366
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1,894
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Total operating
expenses
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77,848
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69,542
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301,566
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270,222
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Operating
income
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34,121
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10,612
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78,458
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46,038
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Interest
income
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(16)
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602
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849
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1,449
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Interest
expense
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(679)
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(903)
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(2,944)
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(22,250)
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Loss on
extinguishment of debt
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—
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(5,288)
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—
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(14,339)
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Other expenses,
net
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(73)
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(339)
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(1,391)
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(1,455)
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Income before income
taxes
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33,353
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4,684
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74,972
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9,443
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Income tax
benefit
|
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4,380
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(511)
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9,937
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(111)
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Income from
continuing operations
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$
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28,973
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$
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5,195
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$
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65,035
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$
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9,554
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Income (loss) from
discontinued operations, net of tax
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—
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407,130
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(182)
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427,862
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Net income
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$
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28,973
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$
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412,325
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$
|
64,853
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$
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437,416
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Basic net income per
share:
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Income from continuing
operations
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$
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0.39
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$
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0.07
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$
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0.88
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$
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0.13
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Income (loss) from
discontinued operations, net of tax
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-
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5.63
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(0.00)
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|
|
5.95
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|
Basic net income per
share
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$
|
0.39
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$
|
5.71
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|
|
$
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0.88
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|
$
|
6.08
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|
Diluted net income
per share:
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Income from continuing
operations
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$
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0.39
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$
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0.07
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|
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$
|
0.88
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|
$
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0.13
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Income (loss) from
discontinued operations, net of tax
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-
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5.61
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(0.00)
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|
|
5.91
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|
Diluted net income
per share
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$
|
0.39
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$
|
5.68
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|
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$
|
0.88
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$
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6.04
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Weighted average
shares outstanding used in computing net income per
share:
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Basic
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73,808
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72,273
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73,557
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71,992
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Diluted
|
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|
74,004
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72,558
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73,850
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72,386
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BROOKS AUTOMATION,
INC.
CONSOLIDATED BALANCE SHEETS
(unaudited)
(In thousands, except share and per share data)
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|
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|
September 30,
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September 30,
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2020
|
|
2019
|
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Assets
|
|
|
|
|
|
Current
assets
|
|
|
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|
Cash and cash
equivalents
|
$
|
295,649
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$
|
301,642
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Marketable
securities
|
|
67
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|
34,124
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Accounts receivable,
net
|
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188,291
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165,602
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Inventories
|
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114,834
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|
99,445
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Prepaid expenses and
other current assets
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50,612
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|
46,332
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Total current
assets
|
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649,453
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647,145
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Property, plant and
equipment, net
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117,665
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100,669
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Long-term marketable
securities
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3,101
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2,845
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Long-term deferred tax
assets
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4,979
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|
5,064
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Goodwill
|
|
501,536
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|
488,602
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Intangible assets,
net
|
|
218,325
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|
|
251,168
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Other
assets
|
|
64,066
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|
20,506
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Total
assets
|
$
|
1,559,125
|
|
$
|
1,515,999
|
Liabilities and
Stockholders' Equity
|
|
|
|
|
|
Current
liabilities
|
|
|
|
|
|
Current portion of
long-term debt
|
$
|
827
|
|
$
|
829
|
Accounts
payable
|
|
61,758
|
|
|
58,919
|
Deferred
revenue
|
|
31,357
|
|
|
29,435
|
Accrued warranty and
retrofit costs
|
|
8,201
|
|
|
7,175
|
Accrued compensation
and benefits
|
|
43,267
|
|
|
31,375
|
Accrued restructuring
costs
|
|
181
|
|
|
1,040
|
Accrued income taxes
payable
|
|
10,094
|
|
|
99,263
|
Accrued expenses and
other current liabilities
|
|
55,433
|
|
|
44,234
|
Total current
liabilities
|
|
211,118
|
|
|
272,270
|
Long-term
debt
|
|
49,588
|
|
|
50,315
|
Long-term tax
reserves
|
|
19,168
|
|
|
18,274
|
Long-term deferred tax
liabilities
|
|
17,798
|
|
|
20,636
|
Long-term pension
liabilities
|
|
6,406
|
|
|
5,338
|
Long-term operating
lease liabilities
|
|
31,855
|
|
|
—
|
Other long-term
liabilities
|
|
9,578
|
|
|
10,212
|
Total
liabilities
|
|
345,511
|
|
|
377,045
|
Stockholders'
Equity
|
|
|
|
|
|
Preferred stock, $0.01
par value - 1,000,000 shares authorized, no shares issued or
outstanding
|
|
—
|
|
|
—
|
Common stock, $0.01
par value - 125,000,000 shares authorized, 87,293,710 shares issued
and 73,831,841 shares outstanding at September 30, 2020,
85,759,700 shares issued and 72,297,831 shares outstanding at
September 30, 2019
|
|
873
|
|
|
857
|
Additional paid-in
capital
|
|
1,942,850
|
|
|
1,921,954
|
Accumulated other
comprehensive income
|
|
21,919
|
|
|
3,511
|
Treasury stock at cost
- 13,461,869 shares
|
|
(200,956)
|
|
|
(200,956)
|
Accumulated
deficit
|
|
(551,072)
|
|
|
(586,412)
|
Total stockholders'
equity
|
|
1,213,614
|
|
|
1,138,954
|
Total liabilities and
stockholders' equity
|
$
|
1,559,125
|
|
$
|
1,515,999
|
BROOKS AUTOMATION,
INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited)
(In thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year
Ended
|
|
September 30,
|
|
2020
|
|
2019
|
Cash flows from
operating activities
|
|
|
|
|
|
Net income
|
$
|
64,853
|
|
$
|
437,416
|
Adjustments to
reconcile net income to net cash provided by operating
activities:
|
|
|
|
|
|
Depreciation and
amortization
|
|
65,496
|
|
|
54,454
|
Impairment of
property, plant and equipment
|
|
—
|
|
|
285
|
Stock-based
compensation
|
|
16,317
|
|
|
20,113
|
Amortization of
premium on marketable securities and deferred financing
costs
|
|
233
|
|
|
1,121
|
Earnings of equity
method investments
|
|
—
|
|
|
(6,188)
|
Deferred income
taxes
|
|
(5,407)
|
|
|
(15,161)
|
Loss on extinguishment
of debt
|
|
—
|
|
|
14,339
|
Other gains on
disposals of assets
|
|
226
|
|
|
209
|
Loss (gain) on sale of
divestiture, net of tax
|
|
319
|
|
|
(408,575)
|
Contingent transaction
fees paid stemming from divestiture
|
|
—
|
|
|
(13,388)
|
Taxes paid stemming
from divestiture
|
|
(91,500)
|
|
|
—
|
Changes in operating
assets and liabilities, net of acquisitions:
|
|
|
|
|
|
Accounts
receivable
|
|
(18,755)
|
|
|
(11,445)
|
Inventories
|
|
(13,144)
|
|
|
(2,933)
|
Prepaid expenses and
current assets
|
|
25,642
|
|
|
(16,009)
|
Accounts
payable
|
|
792
|
|
|
4,695
|
Deferred
revenue
|
|
(139)
|
|
|
4,213
|
Accrued warranty and
retrofit costs
|
|
760
|
|
|
1,109
|
Accrued compensation
and tax withholdings
|
|
11,097
|
|
|
(6,453)
|
Accrued restructuring
costs
|
|
(865)
|
|
|
399
|
Proceeds from recovery
on insurance claim
|
|
—
|
|
|
1,082
|
Accrued expenses and
current liabilities
|
|
(18,059)
|
|
|
31,615
|
Net cash provided by
operating activities
|
|
37,866
|
|
|
90,898
|
Cash flows from
investing activities
|
|
|
|
|
|
Purchases of property,
plant and equipment
|
|
(39,924)
|
|
|
(23,861)
|
Purchases of
marketable securities
|
|
(10,894)
|
|
|
(35,225)
|
Sales of marketable
securities
|
|
2,492
|
|
|
48,903
|
Maturities of
marketable securities
|
|
42,328
|
|
|
2,557
|
Proceeds from
divestiture
|
|
—
|
|
|
661,642
|
Acquisitions, net of
cash acquired
|
|
(15,744)
|
|
|
(442,704)
|
Purchase of other
investment
|
|
(1,000)
|
|
|
—
|
Net cash (used in)
provided by investing activities
|
|
(22,742)
|
|
|
211,312
|
Cash flows from
financing activities
|
|
|
|
|
|
Proceeds from term
loans, net of discount
|
|
—
|
|
|
686,386
|
Proceeds from issuance
of common stock
|
|
4,595
|
|
|
3,422
|
Payments of financing
costs
|
|
—
|
|
|
(687)
|
Principal payments on
debt
|
|
(828)
|
|
|
(850,190)
|
Payments of finance
leases
|
|
(1,277)
|
|
|
(1,197)
|
Common stock dividends
paid
|
|
(29,513)
|
|
|
(28,895)
|
Net cash used in
financing activities
|
|
(27,023)
|
|
|
(191,161)
|
Effects of exchange
rate changes on cash and cash equivalents
|
|
9,254
|
|
|
(3,586)
|
Net (decrease)
increase in cash and cash equivalents
|
|
(2,645)
|
|
|
107,463
|
Cash, cash
equivalents and restricted cash, beginning of period
|
|
305,171
|
|
|
197,708
|
Cash and cash
equivalents and restricted cash, end of period
|
$
|
302,526
|
|
$
|
305,171
|
|
|
|
|
|
|
Reconciliation of
cash, cash equivalents, and restricted cash to the consolidated
balance sheets
|
|
|
|
|
|
Cash and cash
equivalents
|
$
|
295,649
|
|
$
|
301,642
|
Short-term restricted
cash included in prepaid expenses and other current
assets
|
|
3,567
|
|
|
3,529
|
Long-term restricted
cash included in other assets
|
|
3,310
|
|
|
—
|
Total cash, cash
equivalents and restricted cash shown in the consolidated
statements of cash flows
|
$
|
302,526
|
|
$
|
305,171
|
Notes on Non-GAAP Financial Measures:
These financial
measures are used in addition to and in conjunction with results
presented in accordance with GAAP and should not be relied upon to
the exclusion of GAAP financial measures. Management adjusted the
GAAP results for the impact of amortization of intangible assets,
restructuring charges, purchase price accounting adjustments and
charges related to M&A to provide investors better perspective
on the results of operations which the Company believes is more
comparable to the similar analysis provided by its
peers. Management also excludes special charges and gains,
such as impairment losses, gains and losses from the sale of
assets, as well as other gains and charges that are not
representative of the normal operations of the business. Management
strongly encourages investors to review our financial statements
and publicly-filed reports in their entirety and not rely on any
single measure.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended
|
|
|
September 30, 2020
|
|
June 30, 2020
|
|
September 30, 2019
|
|
|
|
|
per
diluted
|
|
|
|
per
diluted
|
|
|
|
per
diluted
|
Dollars in
thousands, except per share data
|
$
|
|
share
|
|
$
|
|
share
|
|
$
|
|
share
|
Net income from
continuing operations
|
|
$
|
28,973
|
|
$
|
0.39
|
|
$
|
13,696
|
|
$
|
0.19
|
|
$
|
5,195
|
|
$
|
0.07
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of
intangible assets
|
|
|
10,442
|
|
|
0.14
|
|
|
10,390
|
|
|
0.14
|
|
|
8,931
|
|
|
0.12
|
Restructuring
charges
|
|
|
241
|
|
|
0.00
|
|
|
(29)
|
|
|
(0.00)
|
|
|
1,209
|
|
|
0.02
|
Loss on extinguishment
of debt
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
5,288
|
|
|
0.07
|
Merger
costs
|
|
|
19
|
|
|
0.00
|
|
|
10
|
|
|
0.00
|
|
|
134
|
|
|
0.00
|
Restructuring related
charges
|
|
|
—
|
|
|
—
|
|
|
301
|
|
|
0.00
|
|
|
285
|
|
|
0.00
|
Tax adjustments
(1)
|
|
|
(800)
|
|
|
(0.01)
|
|
|
1,502
|
|
|
0.02
|
|
|
—
|
|
|
—
|
Tax effect of
adjustments
|
|
|
(4,369)
|
|
|
(0.06)
|
|
|
(2,561)
|
|
|
(0.03)
|
|
|
(4,165)
|
|
|
(0.06)
|
Non-GAAP adjusted
net income from continuing operations
|
|
$
|
34,506
|
|
$
|
0.47
|
|
$
|
23,309
|
|
$
|
0.32
|
|
$
|
16,877
|
|
$
|
0.23
|
Stock
based compensation, pre-tax
|
|
|
3,969
|
|
|
0.05
|
|
|
3,725
|
|
|
0.05
|
|
|
4,941
|
|
|
0.07
|
Tax
rate
|
|
|
15
|
%
|
|
—
|
|
|
15
|
%
|
|
—
|
|
|
15
|
%
|
|
—
|
Stock-based
compensation, net of tax
|
|
|
3,374
|
|
|
0.05
|
|
|
3,166
|
|
|
0.04
|
|
|
4,200
|
|
|
0.06
|
Non-GAAP adjusted net
income excluding stock-based compensation - continuing
operations
|
|
$
|
37,880
|
|
$
|
0.51
|
|
$
|
26,475
|
|
$
|
0.36
|
|
$
|
21,077
|
|
$
|
0.29
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares used in
computing non-GAAP diluted net income per share
|
|
|
—
|
|
|
74,004
|
|
|
—
|
|
|
73,860
|
|
|
—
|
|
|
72,558
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year
Ended
|
|
|
September 30, 2020
|
|
September 30, 2019
|
|
|
|
|
per
diluted
|
|
|
|
per
diluted
|
Dollars in
thousands, except per share data
|
|
$
|
|
share
|
|
$
|
|
share
|
Net income from
continuing operations
|
|
$
|
65,035
|
|
$
|
0.88
|
|
$
|
9,554
|
|
$
|
0.13
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchase accounting
impact on inventory and contracts acquired
|
|
|
—
|
|
|
—
|
|
|
184
|
|
|
0.00
|
Amortization of
intangible assets
|
|
|
41,773
|
|
|
0.57
|
|
|
35,161
|
|
|
0.49
|
Restructuring related
charges
|
|
|
301
|
|
|
0.00
|
|
|
285
|
|
|
|
Restructuring
charges
|
|
|
1,366
|
|
|
0.02
|
|
|
1,894
|
|
|
0.03
|
Loss on extinguishment
of debt
|
|
|
—
|
|
|
—
|
|
|
14,339
|
|
|
0.20
|
Merger costs
|
|
|
501
|
|
|
0.01
|
|
|
6,679
|
|
|
0.09
|
Tax Reform - rate
change applied to deferred tax liabilities
(2)
|
|
|
—
|
|
|
—
|
|
|
1,796
|
|
|
0.02
|
Tax adjustments
(1)
|
|
|
(3,510)
|
|
|
(0.05)
|
|
|
(233)
|
|
|
(0.00)
|
Tax effect of
adjustments
|
|
|
(12,561)
|
|
|
(0.17)
|
|
|
(14,328)
|
|
|
(0.20)
|
Non-GAAP adjusted
net income from continuing operations
|
|
$
|
92,905
|
|
$
|
1.26
|
|
$
|
55,331
|
|
$
|
0.76
|
Stock-based
compensation, pre-tax
|
|
|
16,317
|
|
|
0.22
|
|
|
19,516
|
|
|
0.27
|
Tax
rate
|
|
|
15
|
%
|
|
—
|
|
|
15
|
%
|
|
—
|
Stock-based
compensation, net of tax
|
|
|
13,869
|
|
$
|
0.19
|
|
|
16,589
|
|
|
0.23
|
Non-GAAP adjusted net
income excluding stock-based compensation - continuing
operations
|
|
$
|
106,774
|
|
$
|
1.45
|
|
$
|
71,920
|
|
$
|
0.99
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares used in
computing non-GAAP diluted net income per share
|
|
|
—
|
|
|
73,850
|
|
|
—
|
|
|
72,386
|
|
|
(1)
|
The Company elected
to apply the tax benefit related to the stock compensation windfall
realized in the quarters ended December 31, 2019 and 2018 to the
non-GAAP full year tax rate. The Company elected to exclude a
deferred tax benefit realized in the three month period ended
December 31, 2019 related to the extension of the 15 percent tax
rate incentive in China.
|
|
|
(2)
|
Adjustments are
related to U.S. Federal Tax Reform Transition Tax.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended
|
|
Year
Ended
|
|
|
September 30,
|
|
June
30,
|
|
September 30,
|
|
September 30,
|
|
September 30,
|
Dollars in thousands
|
|
2020
|
|
2020
|
|
2019
|
|
2020
|
|
2019
|
GAAP net
income
|
|
$
|
28,973
|
|
$
|
13,696
|
|
$
|
412,325
|
|
$
|
64,853
|
|
$
|
437,416
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: Loss (income)
from discontinued operations
|
|
|
—
|
|
|
—
|
|
|
(407,130)
|
|
|
182
|
|
|
(427,862)
|
Less: Interest
income
|
|
|
16
|
|
|
(29)
|
|
|
(602)
|
|
|
(849)
|
|
|
(1,449)
|
Add: Interest
expense
|
|
|
679
|
|
|
810
|
|
|
902
|
|
|
2,944
|
|
|
22,250
|
Add: Income tax
benefit
|
|
|
4,380
|
|
|
5,120
|
|
|
(511)
|
|
|
9,937
|
|
|
(111)
|
Add:
Depreciation
|
|
|
5,295
|
|
|
6,290
|
|
|
5,094
|
|
|
23,723
|
|
|
19,289
|
Add: Amortization of
completed technology
|
|
|
2,813
|
|
|
2,779
|
|
|
2,764
|
|
|
11,007
|
|
|
10,424
|
Add: Amortization of
customer relationships and acquired intangible assets
|
|
|
7,629
|
|
|
7,611
|
|
|
6,167
|
|
|
30,766
|
|
|
24,737
|
Add: Loss on
extinguishment of debt
|
|
|
—
|
|
|
—
|
|
|
5,287
|
|
|
—
|
|
|
14,339
|
Earnings before
interest, taxes, depreciation and amortization
|
|
$
|
49,785
|
|
$
|
36,277
|
|
$
|
24,296
|
|
$
|
142,563
|
|
$
|
99,033
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended
|
|
Year
Ended
|
|
|
September 30,
|
|
June
30,
|
|
September 30,
|
|
September 30,
|
|
September 30,
|
Dollars in thousands
|
|
2020
|
|
2020
|
|
2019
|
|
2020
|
|
2019
|
Earnings before
interest, taxes, depreciation and amortization
|
|
$
|
49,785
|
|
$
|
36,277
|
|
$
|
24,296
|
|
$
|
142,563
|
|
$
|
99,033
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Add: Stock-based
compensation
|
|
|
3,969
|
|
|
3,725
|
|
|
4,941
|
|
|
16,317
|
|
|
19,516
|
Add: Restructuring
charges
|
|
|
240
|
|
|
(29)
|
|
|
1,209
|
|
|
1,366
|
|
|
1,894
|
Add: Restructuring
related charges
|
|
|
—
|
|
|
301
|
|
|
285
|
|
|
301
|
|
|
285
|
Add: Purchase
accounting impact on inventory and contracts acquired
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
184
|
Add: Merger
costs
|
|
|
19
|
|
|
10
|
|
|
134
|
|
|
502
|
|
|
6,679
|
Adjusted earnings
before interest, taxes, depreciation and amortization
|
|
$
|
54,013
|
|
$
|
40,284
|
|
$
|
30,865
|
|
$
|
161,049
|
|
$
|
127,591
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended
|
|
Dollars in
thousands
|
|
September 30, 2020
|
|
June 30, 2020
|
|
September 30, 2019
|
GAAP gross
profit/margin percentage
|
|
$
|
111,969
|
|
45.5
|
%
|
|
$
|
92,788
|
|
42.1
|
%
|
|
$
|
80,154
|
|
40.2
|
%
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of
completed technology
|
|
|
2,813
|
|
1.1
|
|
|
|
2,779
|
|
1.3
|
|
|
|
2,764
|
|
1.4
|
|
Restructuring related
charges
|
|
|
—
|
|
—
|
|
|
|
301
|
|
0.1
|
|
|
|
285
|
|
0.1
|
|
Non-GAAP adjusted
gross profit/gross margin percentage
|
|
$
|
114,782
|
|
46.6
|
%
|
|
$
|
95,868
|
|
43.5
|
%
|
|
$
|
83,203
|
|
41.8
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year
Ended
|
Dollars in
thousands
|
|
September 30, 2020
|
|
September 30, 2019
|
GAAP gross
profit/margin percentage
|
|
$
|
380,024
|
|
42.4
|
%
|
|
$
|
316,260
|
|
40.5
|
%
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of
completed technology
|
|
|
11,007
|
|
1.2
|
|
|
|
10,424
|
|
1.3
|
|
Purchase accounting
impact on inventory and contracts acquired
|
|
|
—
|
|
—
|
|
|
|
184
|
|
—
|
|
Restructuring related
charges
|
|
|
301
|
|
0.0
|
|
|
|
285
|
|
0
|
|
Non-GAAP adjusted
gross profit/gross margin percentage
|
|
$
|
391,332
|
|
43.6
|
%
|
|
$
|
327,153
|
|
41.9
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Brooks
Semiconductor Solutions Group
|
|
|
Quarter
Ended
|
Dollars in
thousands
|
|
Sep 30,
2020
|
|
Jun 30,
2020
|
|
Sep 30,
2019
|
GAAP gross
profit/margin percentage
|
|
$
|
59,435
|
|
43.1
|
%
|
|
$
|
53,524
|
|
42.1
|
%
|
|
$
|
42,262
|
|
40.2
|
%
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of
completed technology
|
|
|
736
|
|
0.5
|
|
|
|
717
|
|
0.6
|
|
|
|
868
|
|
0.8
|
|
Non-GAAP adjusted
gross profit/margin percentage
|
|
$
|
60,171
|
|
43.6
|
%
|
|
$
|
54,241
|
|
42.7
|
%
|
|
$
|
43,130
|
|
41.1
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Brooks Life
Sciences Products
|
|
Brooks Life
Sciences Services
|
|
|
Quarter
Ended
|
|
Quarter
Ended
|
Dollars in
thousands
|
|
Sep 30,
2020
|
|
Jun 30,
2020
|
|
Sep 30,
2019
|
|
Sep 30,
2020
|
|
Jun 30,
2020
|
|
Sep 30,
2019
|
GAAP gross
profit/margin percentage
|
|
$
|
16,701
|
|
43.2
|
%
|
|
$
|
13,258
|
|
43.6
|
%
|
|
$
|
12,575
|
|
39.2
|
%
|
|
$
|
35,832
|
|
51.5
|
%
|
|
$
|
26,006
|
|
41.4
|
%
|
|
$
|
25,316
|
|
40.8
|
%
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of
completed technology
|
|
|
293
|
|
0.8
|
|
|
|
287
|
|
0.9
|
|
|
|
304
|
|
0.9
|
|
|
|
1,784
|
|
2.6
|
|
|
|
1,776
|
|
2.8
|
|
|
|
1,592
|
|
2.6
|
|
Restructuring related
charges
|
|
|
—
|
|
—
|
|
|
|
—
|
|
—
|
|
|
|
—
|
|
—
|
|
|
|
—
|
|
—
|
|
|
|
301
|
|
0.5
|
|
|
|
285
|
|
0.5
|
|
Non-GAAP adjusted
gross profit/margin percentage
|
|
$
|
16,994
|
|
44.0
|
%
|
|
$
|
13,545
|
|
44.5
|
%
|
|
$
|
12,879
|
|
40.1
|
%
|
|
$
|
37,616
|
|
54.0
|
%
|
|
$
|
28,083
|
|
44.7
|
%
|
|
$
|
27,193
|
|
43.8
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Brooks Life
Sciences Total
|
|
|
Quarter
Ended
|
Dollars in
thousands
|
|
Sep 30,
2020
|
|
Jun 30,
2020
|
|
Sep 30,
2019
|
GAAP gross
profit/margin percentage
|
|
$
|
52,533
|
|
48.5
|
%
|
|
$
|
39,264
|
|
42.1
|
%
|
|
$
|
37,891
|
|
40.2
|
%
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of
completed technology
|
|
|
2,077
|
|
1.9
|
|
|
|
2,063
|
|
2.2
|
|
|
|
1,896
|
|
2.0
|
|
Purchase accounting
impact on inventory and contracts acquired
|
|
|
—
|
|
—
|
|
|
|
—
|
|
—
|
|
|
|
—
|
|
—
|
|
Restructuring related
charges
|
|
|
—
|
|
—
|
|
|
|
301
|
|
0.3
|
|
|
|
285
|
|
0.3
|
|
Non-GAAP adjusted
gross profit/margin percentage
|
|
$
|
54,610
|
|
50.5
|
%
|
|
$
|
41,628
|
|
44.6
|
%
|
|
$
|
40,072
|
|
42.6
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Brooks Semiconductor Solutions Group
|
|
|
Year Ended
September 30,
|
Dollars in
thousands
|
|
2020
|
|
2019
|
GAAP gross
profit/margin percentage
|
|
$
|
207,896
|
|
40.9
|
%
|
|
$
|
181,659
|
|
40.7
|
%
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of
completed technology
|
|
|
2,908
|
|
0.6
|
|
|
|
3,600
|
|
0.8
|
|
Purchase accounting
impact on inventory and contracts acquired
|
|
|
—
|
|
—
|
|
|
|
184
|
|
0.0
|
|
Non-GAAP adjusted
gross profit/margin percentage
|
|
$
|
210,804
|
|
41.4
|
%
|
|
$
|
185,443
|
|
41.5
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Brooks Life
Sciences Products
|
Brooks Life
Sciences Services
|
|
|
Year Ended
September 30,
|
Year Ended
September 30,
|
Dollars in
thousands
|
|
2020
|
|
2019
|
2020
|
|
2019
|
GAAP gross
profit/margin percentage
|
|
$
|
55,718
|
|
42.9
|
%
|
|
$
|
43,577
|
|
36.6
|
%
|
$
|
116,428
|
|
45.0
|
%
|
|
$
|
91,027
|
|
42.3
|
%
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of
completed technology
|
|
|
1,165
|
|
0.9
|
|
|
|
1,238
|
|
1.0
|
|
|
6,935
|
|
2.7
|
|
|
|
5,586
|
|
2.6
|
|
Restructuring related
charges
|
|
|
—
|
|
—
|
|
|
|
—
|
|
—
|
|
|
301
|
|
0.1
|
|
|
|
285
|
|
0.1
|
|
Non-GAAP adjusted
gross profit/margin percentage
|
|
$
|
56,883
|
|
43.8
|
%
|
|
$
|
44,815
|
|
37.7
|
%
|
$
|
123,664
|
|
47.8
|
%
|
|
$
|
96,898
|
|
45.0
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Brooks Life
Sciences Total
|
|
|
Year Ended
September 30,
|
Dollars in
thousands
|
|
2020
|
|
2019
|
GAAP gross
profit/margin percentage
|
|
$
|
172,146
|
|
44.3
|
%
|
|
$
|
134,604
|
|
40.3
|
%
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
-
|
|
Amortization of
completed technology
|
|
|
8,100
|
|
2.1
|
|
|
|
6,824
|
|
2.0
|
|
Restructuring related
charges
|
|
|
301
|
|
0.1
|
|
|
|
285
|
|
0.1
|
|
Non-GAAP adjusted
gross profit/margin percentage
|
|
$
|
180,547
|
|
46.5
|
%
|
|
$
|
141,713
|
|
42.4
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Brooks Semiconductor Solutions Group
|
|
Brooks Life Sciences
Products
|
|
Brooks Life
Sciences Services
|
|
Brooks Life
Sciences Total
|
|
|
Quarter Ended
|
|
Quarter Ended
|
|
Quarter Ended
|
|
Quarter Ended
|
|
|
Sept
30,
|
|
Jun
30,
|
|
Sept
30,
|
|
Sept
30,
|
|
Jun
30,
|
|
Sept
30,
|
|
Sept
30,
|
|
Jun
30,
|
|
Sept
30,
|
|
Sept
30,
|
|
Jun
30,
|
|
Sept
30,
|
Dollars in thousands
|
|
2020
|
|
2020
|
|
2019
|
|
2020
|
|
2020
|
|
2019
|
|
2020
|
|
2020
|
|
2019
|
|
2020
|
|
2020
|
|
2019
|
GAAP operating
profit
|
|
$
|
27,094
|
|
$
|
22,697
|
|
$
|
12,726
|
|
$
|
4,072
|
|
$
|
2,195
|
|
$
|
828
|
|
$
|
11,353
|
|
$
|
2,032
|
|
$
|
3,758
|
|
$
|
15,425
|
|
$
|
4,227
|
|
$
|
4,586
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of
completed technology
|
|
|
736
|
|
|
717
|
|
|
868
|
|
|
293
|
|
|
287
|
|
|
304
|
|
|
1,784
|
|
|
1,776
|
|
|
1,592
|
|
|
2,077
|
|
|
2,063
|
|
|
1,896
|
Restructuring related
charges
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
301
|
|
|
285
|
|
|
—
|
|
|
301
|
|
|
285
|
Non-GAAP adjusted
operating profit
|
|
$
|
27,830
|
|
$
|
23,414
|
|
$
|
13,594
|
|
$
|
4,365
|
|
$
|
2,482
|
|
$
|
1,132
|
|
$
|
13,137
|
|
$
|
4,109
|
|
$
|
5,635
|
|
$
|
17,502
|
|
$
|
6,591
|
|
$
|
6,767
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Segments
|
|
Corporate
|
|
Total
|
|
|
Quarter Ended
|
|
Quarter Ended
|
|
Quarter Ended
|
|
|
Sept
30,
|
|
Jun
30,
|
|
Sept
30,
|
|
Sept
30,
|
|
Jun
30,
|
|
Sept
30,
|
|
Sept
30,
|
|
Jun
30,
|
|
Sept
30,
|
Dollars in thousands
|
|
2020
|
|
2020
|
|
2019
|
|
2020
|
|
2020
|
|
2019
|
|
2020
|
|
2020
|
|
2019
|
GAAP operating profit
(loss)
|
|
$
|
42,519
|
|
$
|
26,924
|
|
$
|
17,312
|
|
$
|
(8,398)
|
|
$
|
(7,825)
|
|
$
|
(6,700)
|
|
$
|
34,121
|
|
$
|
19,099
|
|
$
|
10,612
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of
completed technology
|
|
|
2,813
|
|
|
2,780
|
|
|
2,764
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2,813
|
|
|
2,780
|
|
|
2,764
|
Amortization of
customer relationships and acquired intangible assets
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
7,629
|
|
|
7,611
|
|
|
6,167
|
|
|
7,629
|
|
|
7,611
|
|
|
6,167
|
Restructuring
charges
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
241
|
|
|
(29)
|
|
|
1,209
|
|
|
241
|
|
|
(29)
|
|
|
1,209
|
Merger costs
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
19
|
|
|
10
|
|
|
134
|
|
|
19
|
|
|
10
|
|
|
134
|
Restructuring related
charges
|
|
|
—
|
|
|
301
|
|
|
285
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
301
|
|
|
285
|
Non-GAAP adjusted
operating profit (loss)
|
|
$
|
45,332
|
|
$
|
30,005
|
|
$
|
20,361
|
|
$
|
(509)
|
|
$
|
(233)
|
|
$
|
810
|
|
$
|
44,823
|
|
$
|
29,772
|
|
$
|
21,171
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Brooks Semiconductor Solutions Group
|
|
Brooks Life Sciences
Products
|
|
Brooks Life Sciences
Services
|
|
|
Brooks Life SciencesTotal
|
|
|
|
Year Ended
September 30,
|
|
Year Ended
September 30,
|
|
Year Ended
September 30,
|
|
|
Year Ended
September 30,
|
|
Dollars in thousands
|
|
2020
|
|
2019
|
|
2020
|
|
2019
|
|
2020
|
|
2019
|
|
|
2020
|
|
2019
|
|
GAAP operating
profit
|
|
$
|
80,043
|
|
$
|
66,176
|
|
$
|
8,188
|
|
$
|
(3,073)
|
|
$
|
21,596
|
|
$
|
16,595
|
|
|
$
|
29,784
|
|
$
|
13,522
|
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of
completed technology
|
|
|
2,908
|
|
|
3,600
|
|
|
1,165
|
|
|
1,238
|
|
|
6,935
|
|
|
5,586
|
|
|
|
8,100
|
|
|
6,824
|
|
Purchase accounting
impact on inventory and contracts acquired
|
|
|
—
|
|
|
184
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
285
|
|
|
|
—
|
|
|
285
|
|
Restructuring related
charges
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
301
|
|
|
—
|
|
|
|
301
|
|
|
—
|
|
Non-GAAP adjusted
operating profit
|
|
$
|
82,951
|
|
$
|
69,960
|
|
$
|
9,353
|
|
$
|
(1,835)
|
|
$
|
28,832
|
|
$
|
22,466
|
|
|
$
|
38,185
|
|
$
|
20,631
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Segments
|
|
Corporate
|
|
Total
|
|
|
Year Ended
September 30,
|
|
Year Ended
September 30,
|
|
Year Ended
September 30,
|
Dollars in thousands
|
|
2020
|
|
2019
|
|
2020
|
|
2019
|
|
2020
|
|
2019
|
GAAP operating profit
(loss)
|
|
$
|
109,827
|
|
$
|
79,698
|
|
$
|
(31,369)
|
|
$
|
(33,660)
|
|
$
|
78,458
|
|
$
|
46,038
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of
completed technology
|
|
|
11,008
|
|
|
10,424
|
|
|
—
|
|
|
—
|
|
|
11,008
|
|
|
10,424
|
Amortization of
customer relationships and acquired intangible assets
|
|
|
—
|
|
|
—
|
|
|
30,766
|
|
|
24,737
|
|
|
30,766
|
|
|
24,737
|
Restructuring
charges
|
|
|
—
|
|
|
—
|
|
|
1,366
|
|
|
1,894
|
|
|
1,366
|
|
|
1,894
|
Purchase accounting
impact on inventory and contracts acquired
|
|
|
—
|
|
|
469
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
469
|
Merger costs
|
|
|
—
|
|
|
—
|
|
|
501
|
|
|
6,679
|
|
|
501
|
|
|
6,679
|
Restructuring related
charges
|
|
|
301
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
301
|
|
|
—
|
Non-GAAP adjusted
operating profit (loss)
|
|
$
|
121,136
|
|
$
|
90,591
|
|
$
|
1,264
|
|
$
|
(350)
|
|
$
|
122,400
|
|
$
|
90,241
|
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SOURCE Brooks Automation