CHELMSFORD, Mass., May 10, 2021 /PRNewswire/ -- Brooks Automation,
Inc. (Nasdaq: BRKS) today reported financial results for the second
fiscal quarter of 2021, ended March 31,
2021.
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Financial Results
Summary
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Quarter Ended
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Dollars in millions, except per share
data
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March 31,
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December 31,
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March 31,
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Change
vs.
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|
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2021
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2020
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|
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2020
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Prior
Qtr
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|
Prior
Year
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|
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Revenue
|
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$
|
287
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$
|
250
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|
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$
|
220
|
|
15
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%
|
30
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%
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|
Semiconductor
Solutions
|
|
$
|
157
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$
|
131
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|
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$
|
125
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20
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%
|
26
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%
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|
Life
Sciences
|
|
$
|
130
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$
|
118
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$
|
95
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|
10
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%
|
36
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%
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Diluted EPS
Continuing Operations
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$
|
0.32
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$
|
0.36
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|
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$
|
0.12
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(12)
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%
|
158
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%
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Diluted EPS
Total
|
|
$
|
0.32
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|
$
|
0.35
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|
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$
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0.12
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(9)
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%
|
158
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%
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Non-GAAP Diluted EPS
Continuing Operations
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$
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0.61
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$
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0.47
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$
|
0.25
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|
30
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%
|
145
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%
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Adjusted
EBITDA
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$
|
71
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$
|
58
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$
|
35
|
|
23
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%
|
105
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%
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|
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|
Today the Company also announced plans to separate into two
independent, publicly traded companies by establishing a standalone
life sciences company, comprised of the Life Sciences business and
a standalone automation company, comprised of the Semiconductor
Solutions business. The separation is expected to be completed by
end of the calendar year 2021 and does not affect the presentation
of the financial statements included within this release. Please
see the Company's separate press release for further
information.
Management Comments
"Record level revenue in the
second quarter is yet another proof point of the strength and
continued momentum of our Life Sciences and Semiconductor Solutions
businesses," commented Steve
Schwartz, President and CEO. "While today's separation
announcement reflects years of strategic investment and innovation,
we believe that the Life Sciences and Semiconductor Solutions
businesses are now of size and scale to operate and benefit from
their own standalone structures. Looking ahead, we see strong
demand in both businesses supporting continued acceleration as we
enter the second half of our fiscal year."
Summary of GAAP Results
Second Quarter, Fiscal
2021
- Revenue for the second quarter was $287
million, up 30% year over year, supported by growth in both
Life Sciences and Semiconductor Solutions. Diluted EPS from
continuing operations was $0.32 per
share compared to $0.12 per share in
the second quarter of 2020.
- Life Sciences revenue of $130
million grew 36% year over year. Year-over-year organic
growth was also 36%. Life Sciences Products grew 69% year over
year, and Life Sciences Services grew 20%. Excluding the effect of
the recent exit of the RUCDR alliance, Life Science Services grew
28%.
- Semiconductor Solutions revenue was $157
million, an increase of 26% year over year.
- Operating income was $31 million,
compared to $15 million in the second
quarter of 2020. Operating margin was 10.6%, up 400 basis points
year over year and was driven by gross margin of 44.4%, up 340
basis points year over year. The gross profit result in the second
quarter of 2021 includes a charge of approximately $5 million related to liabilities for import
tariffs. Operating expenses in the quarter include approximately
$12 million in unallocated corporate
expenses related to strategic M&A initiatives, including the
preparation to separate the two businesses.
In the following analysis of the non-GAAP results, Brooks
adjusted the GAAP results 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 and/or
representative of the normal operations of the business. In
this context, the Company has removed the effect of the charge in
the second quarter of 2021 related to liabilities for import
tariffs related to imports in prior fiscal years. The cost of
import tariffs which pertain to the current fiscal year imports
remain in the results discussed below. A description of all
adjustments and reconciliation of non-GAAP measures to the most
nearly comparable GAAP measures follow the consolidated balance
sheets, statements of operations and statements of cash flows
included in this release.
Summary of Non-GAAP Results for Continuing Operations
Second Quarter, Fiscal 2021
- Diluted EPS for the second quarter was $0.61, up 145% year over year.
- Operating income was $58 million,
an increase of 124% year over year, and operating margin was 20.2%,
up 850 basis points year over year. Gross margin of 47.1% was up
490 basis points year over year. Year-over-year gross margin
expansion in both Life Sciences and Semiconductor Solutions drove
this improvement.
- Life Sciences operating margin was 19.0%, up from 8.5% in the
prior year. The year-over-year improvement was driven by gross
margin of 50.5%, up 460 basis points year over year. An additional
590 basis points improvement came from operating leverage, as
revenue grew 36% year over year while operating expense only grew
15% year over year. The 460 basis point year-over-year improvement
in Life Sciences gross margin was driven by performance improvement
of 280 basis points and 180 basis points of favorable mix as a
result of exiting the RUCDR alliance agreement.
- Semiconductor Solutions operating margin was 21.2%, an increase
of 780 basis points from the prior year. Gross margin was 44.4%, up
490 basis points year over year, driven by growth and favorable mix
in vacuum robots and systems.
- Adjusted EBITDA was $71 million,
up 105% from the second quarter of 2020 and 23% sequentially.
Cash and Liquidity
- Cash flow from operations was $34
million for the quarter, an increase of $9 million year over year, when excluding from
the second quarter of fiscal year 2020 period, the $92 million of taxes paid by the Company related
to its sale of the semiconductor cryogenics business in fiscal year
2019.
- The Company ended the second fiscal quarter of 2021 with a
total balance of cash, cash equivalents, restricted cash, and
marketable securities of $334
million. With total debt of $50
million, net cash was $284
million. Subsequent to the quarter end, on April 29, 2021, the Company acquired Precise
Automation, Inc. for $70 million in
cash, subject to working capital and other adjustments.
Quarterly Cash Dividend
The Company additionally
announced that the Board of Directors has reiterated a dividend of
$0.10 per share payable on
June 25, 2021 to stockholders of
record on June 4, 2021. 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 Third Quarter Fiscal 2021
The Company
announced revenue and earnings guidance for the third quarter of
fiscal 2021. Revenue is expected to be in the range of
$300 million to $320 million and non-GAAP diluted earnings per
share is expected to be in the range of $0.65 to $0.75. GAAP diluted earnings per share for
the third fiscal quarter is expected to be in the range of
$0.46 to $0.56.
Conference Call and Webcast
Brooks management will
webcast its second 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 800-913-8744 (US & Canada
only) or +1-212-271-4615 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 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.
BROOKS INVESTOR CONTACTS:
Sara Silverman
Director of Investor Relations
Brooks Automation
978.262.2635
sara.silverman@brooks.com
Sherry Dinsmore
Brooks Automation
978.262.4301
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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|
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Six Months
Ended
|
|
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March 31,
|
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March 31,
|
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2021
|
|
2020
|
|
|
2021
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2020
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Revenue
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Products
|
$
|
190,369
|
|
$
|
139,144
|
|
|
$
|
349,985
|
|
$
|
271,006
|
|
Services
|
|
96,217
|
|
|
81,083
|
|
|
|
186,104
|
|
|
159,721
|
|
Total
revenue
|
|
286,586
|
|
|
220,227
|
|
|
|
536,089
|
|
|
430,727
|
|
Cost of
revenue
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Products
|
|
105,581
|
|
|
83,970
|
|
|
|
197,084
|
|
|
163,941
|
|
Services
|
|
53,731
|
|
|
45,976
|
|
|
|
98,603
|
|
|
91,519
|
|
Total cost of
revenue
|
|
159,312
|
|
|
129,946
|
|
|
|
295,687
|
|
|
255,460
|
|
Gross
profit
|
|
127,274
|
|
|
90,281
|
|
|
|
240,402
|
|
|
175,267
|
|
Operating
expenses
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research and
development
|
|
16,943
|
|
|
15,322
|
|
|
|
33,026
|
|
|
29,723
|
|
Selling, general and
administrative
|
|
79,734
|
|
|
59,809
|
|
|
|
145,763
|
|
|
119,152
|
|
Restructuring
charges
|
|
92
|
|
|
578
|
|
|
|
179
|
|
|
1,154
|
|
Total operating
expenses
|
|
96,769
|
|
|
75,709
|
|
|
|
178,968
|
|
|
150,029
|
|
Operating
income
|
|
30,505
|
|
|
14,572
|
|
|
|
61,434
|
|
|
25,238
|
|
Interest
income
|
|
18
|
|
|
137
|
|
|
|
94
|
|
|
836
|
|
Interest
expense
|
|
(452)
|
|
|
(718)
|
|
|
|
(1,008)
|
|
|
(1,455)
|
|
Other income
(expenses), net
|
|
149
|
|
|
(1,399)
|
|
|
|
1,478
|
|
|
(1,816)
|
|
Income before income
taxes
|
|
30,220
|
|
|
12,592
|
|
|
|
61,998
|
|
|
22,803
|
|
Income tax
provision
|
|
6,288
|
|
|
3,400
|
|
|
|
11,058
|
|
|
437
|
|
Income from
continuing operations
|
|
23,932
|
|
|
9,192
|
|
|
|
50,940
|
|
|
22,366
|
|
Loss from discontinued
operations, net of tax
|
|
(184)
|
|
|
(65)
|
|
|
|
(1,164)
|
|
|
(182)
|
|
Net income
|
$
|
23,748
|
|
$
|
9,127
|
|
|
$
|
49,776
|
|
$
|
22,184
|
|
Basic net income per
share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from continuing
operations
|
$
|
0.32
|
|
$
|
0.12
|
|
|
$
|
0.69
|
|
$
|
0.30
|
|
Loss from discontinued
operations, net of tax
|
|
(0.00)
|
|
|
(0.00)
|
|
|
|
(0.02)
|
|
|
(0.00)
|
|
Basic net income per
share
|
$
|
0.32
|
|
$
|
0.12
|
|
|
$
|
0.67
|
|
$
|
0.30
|
|
Diluted net income
per share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from continuing
operations
|
$
|
0.32
|
|
$
|
0.12
|
|
|
$
|
0.68
|
|
$
|
0.30
|
|
Loss from discontinued
operations, net of tax
|
|
(0.00)
|
|
|
(0.00)
|
|
|
|
(0.02)
|
|
|
(0.00)
|
|
Diluted net income
per share
|
$
|
0.32
|
|
$
|
0.12
|
|
|
$
|
0.67
|
|
$
|
0.30
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
shares outstanding used in computing net income per
share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
74,265
|
|
|
73,708
|
|
|
|
74,142
|
|
|
73,331
|
|
Diluted
|
|
74,414
|
|
|
73,789
|
|
|
|
74,367
|
|
|
73,752
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BROOKS AUTOMATION,
INC.
CONSOLIDATED BALANCE
SHEETS
(unaudited)
(In thousands,
except share and per share data)
|
|
|
|
|
|
|
|
March 31,
|
|
September 30,
|
|
2021
|
|
2020
|
|
|
|
|
|
|
Assets
|
|
|
|
|
|
Current
assets
|
|
|
|
|
|
Cash and cash
equivalents
|
$
|
320,105
|
|
$
|
295,649
|
Marketable
securities
|
|
101
|
|
|
67
|
Accounts receivable,
net
|
|
225,389
|
|
|
188,291
|
Inventories
|
|
127,987
|
|
|
114,834
|
Prepaid expenses and
other current assets
|
|
50,908
|
|
|
50,612
|
Total current
assets
|
|
724,490
|
|
|
649,453
|
Property, plant and
equipment, net
|
|
132,420
|
|
|
117,665
|
Long-term marketable
securities
|
|
3,485
|
|
|
3,101
|
Long-term deferred tax
assets
|
|
9,864
|
|
|
4,979
|
Goodwill
|
|
513,093
|
|
|
501,536
|
Intangible assets,
net
|
|
209,899
|
|
|
218,325
|
Other
assets
|
|
70,845
|
|
|
64,066
|
Total
assets
|
$
|
1,664,096
|
|
$
|
1,559,125
|
Liabilities and
Stockholders' Equity
|
|
|
|
|
|
Current
liabilities
|
|
|
|
|
|
Current portion of
long-term debt
|
$
|
414
|
|
$
|
827
|
Accounts
payable
|
|
77,741
|
|
|
61,758
|
Deferred
revenue
|
|
36,793
|
|
|
31,357
|
Accrued warranty and
retrofit costs
|
|
8,044
|
|
|
8,201
|
Accrued compensation
and benefits
|
|
38,504
|
|
|
43,267
|
Accrued restructuring
costs
|
|
58
|
|
|
181
|
Accrued income taxes
payable
|
|
23,889
|
|
|
10,094
|
Accrued expenses and
other current liabilities
|
|
80,203
|
|
|
55,433
|
Total current
liabilities
|
|
265,646
|
|
|
211,118
|
Long-term
debt
|
|
49,653
|
|
|
49,588
|
Long-term tax
reserves
|
|
19,707
|
|
|
19,168
|
Long-term deferred tax
liabilities
|
|
15,442
|
|
|
17,798
|
Long-term pension
liabilities
|
|
6,353
|
|
|
6,406
|
Long-term operating
lease liabilities
|
|
32,749
|
|
|
31,855
|
Other long-term
liabilities
|
|
8,520
|
|
|
9,578
|
Total
liabilities
|
|
398,070
|
|
|
345,511
|
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, 87,755,666 shares issued
and 74,293,797 shares outstanding at March 31, 2021,
87,293,710 shares issued and 73,831,841 shares outstanding at
September 30, 2021
|
|
878
|
|
|
873
|
Additional paid-in
capital
|
|
1,959,619
|
|
|
1,942,850
|
Accumulated other
comprehensive income
|
|
22,637
|
|
|
21,919
|
Treasury stock at cost
- 13,461,869 shares
|
|
(200,956)
|
|
|
(200,956)
|
Accumulated
deficit
|
|
(516,152)
|
|
|
(551,072)
|
Total stockholders'
equity
|
|
1,266,026
|
|
|
1,213,614
|
Total liabilities and
stockholders' equity
|
$
|
1,664,096
|
|
$
|
1,559,125
|
BROOKS AUTOMATION,
INC.
CONSOLIDATED
STATEMENTS OF CASH FLOWS
(unaudited)
(In
thousands)
|
|
|
|
|
|
|
|
Six Months
Ended
|
|
March 31,
|
|
2021
|
|
2020
|
Cash flows from
operating activities
|
|
|
|
|
|
Net income
|
$
|
49,776
|
|
$
|
22,184
|
Adjustments to
reconcile net income to net cash provided by operating
activities:
|
|
|
|
|
|
Depreciation and
amortization
|
|
31,543
|
|
|
33,079
|
Stock-based
compensation
|
|
14,191
|
|
|
8,624
|
Amortization of
premium on marketable securities and deferred financing
costs
|
|
113
|
|
|
94
|
Deferred income
taxes
|
|
(10,161)
|
|
|
(9,477)
|
Other gains on
disposals of assets
|
|
51
|
|
|
125
|
Adjustment to the gain
on divestiture, net of tax
|
|
948
|
|
|
319
|
Taxes paid stemming
from divestiture
|
|
—
|
|
|
(91,500)
|
Changes in operating
assets and liabilities, net of acquisitions:
|
|
|
|
|
|
Accounts
receivable
|
|
(35,033)
|
|
|
(12,670)
|
Inventories
|
|
(11,301)
|
|
|
(9,094)
|
Prepaid expenses and
current assets
|
|
3,157
|
|
|
5,374
|
Accounts
payable
|
|
14,136
|
|
|
5,807
|
Deferred
revenue
|
|
4,659
|
|
|
(1,478)
|
Accrued warranty and
retrofit costs
|
|
(261)
|
|
|
735
|
Accrued compensation
and tax withholdings
|
|
(5,371)
|
|
|
(522)
|
Accrued restructuring
costs
|
|
(124)
|
|
|
(112)
|
Accrued expenses and
current liabilities
|
|
21,619
|
|
|
8,455
|
Net cash provided by
(used in) operating activities
|
|
77,942
|
|
|
(40,057)
|
Cash flows from
investing activities
|
|
|
|
|
|
Purchases of property,
plant and equipment
|
|
(25,531)
|
|
|
(21,170)
|
Purchases of
marketable securities
|
|
(75)
|
|
|
(10,843)
|
Sales of marketable
securities
|
|
25
|
|
|
2,492
|
Maturities of
marketable securities
|
|
—
|
|
|
42,226
|
Adjustment to proceeds
from divestiture
|
|
(1,802)
|
|
|
—
|
Acquisitions, net of
cash acquired
|
|
(15,061)
|
|
|
(15,743)
|
Issuance of a note
receivable
|
|
—
|
|
|
(1,000)
|
Net cash used in
investing activities
|
|
(42,444)
|
|
|
(4,038)
|
Cash flows from
financing activities
|
|
|
|
|
|
Proceeds from term
loans, net of discount
|
|
—
|
|
|
—
|
Proceeds from issuance
of common stock
|
|
2,583
|
|
|
2,330
|
Payments of financing
costs
|
|
—
|
|
|
—
|
Principal payments on
debt
|
|
(414)
|
|
|
(414)
|
Payments of finance
leases
|
|
(638)
|
|
|
(639)
|
Common stock dividends
paid
|
|
(14,856)
|
|
|
(14,747)
|
Net cash used in
financing activities
|
|
(13,325)
|
|
|
(13,470)
|
Effects of exchange
rate changes on cash and cash equivalents
|
|
6,051
|
|
|
(1,803)
|
Net increase
(decrease) in cash, cash equivalents and restricted cash
|
|
28,224
|
|
|
(59,368)
|
Cash, cash
equivalents and restricted cash, beginning of period
|
|
302,526
|
|
|
305,171
|
Cash and cash
equivalents and restricted cash, end of period
|
$
|
330,750
|
|
$
|
245,803
|
|
|
|
|
|
|
Reconciliation of
cash, cash equivalents, and restricted cash to the consolidated
balance sheets
|
|
|
|
|
|
Cash and cash
equivalents
|
$
|
320,105
|
|
$
|
242,274
|
Short-term restricted
cash included in prepaid expenses and other current
assets
|
|
3,570
|
|
|
3,529
|
Long-term restricted
cash included in other assets
|
|
7,075
|
|
|
—
|
Total cash, cash
equivalents and restricted cash shown in the consolidated
statements of cash flows
|
$
|
330,750
|
|
$
|
245,803
|
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 adjusts 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. For the three and six months
ended March 31, 2021, management has
excluded a charge related to liabilities for import tariffs related
to imports in prior fiscal years. The cost of import tariffs which
pertain to the current fiscal year imports were not removed from
non-GAAP results. 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
|
|
|
March 31, 2021
|
|
December 31, 2020
|
|
March 31, 2020
|
Dollars in
thousands, except per share
data
|
|
$
|
|
per
diluted
share
|
|
$
|
|
per
diluted
share
|
|
$
|
|
per
diluted
share
|
Net income from
continuing operations
|
|
$
|
23,932
|
|
$
|
0.32
|
|
$
|
27,007
|
|
$
|
0.36
|
|
$
|
9,192
|
|
$
|
0.12
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of
intangible assets
|
|
|
9,920
|
|
|
0.13
|
|
|
9,745
|
|
|
0.13
|
|
|
10,355
|
|
|
0.14
|
Restructuring
charges
|
|
|
92
|
|
|
0.00
|
|
|
87
|
|
|
0.00
|
|
|
578
|
|
|
0.01
|
Tariff
adjustment
|
|
|
5,497
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
Merger and acquisition
costs
|
|
|
11,843
|
|
|
0.16
|
|
|
2,991
|
|
|
0.04
|
|
|
279
|
|
|
0.00
|
Tax adjustments
(1)
|
|
|
639
|
|
|
0.01
|
|
|
(1,999)
|
|
|
(0.03)
|
|
|
1,046
|
|
|
0.01
|
Tax effect of
adjustments
|
|
|
(6,283)
|
|
|
(0.08)
|
|
|
(2,880)
|
|
|
(0.04)
|
|
|
(2,997)
|
|
|
(0.04)
|
Non-GAAP adjusted
net income from continuing operations
|
|
$
|
45,640
|
|
$
|
0.61
|
|
$
|
34,951
|
|
$
|
0.47
|
|
$
|
18,453
|
|
$
|
0.25
|
Stock
based compensation, pre-tax
|
|
|
6,710
|
|
|
0.09
|
|
|
6,710
|
|
|
0.09
|
|
|
4,214
|
|
|
0.06
|
Tax
rate
|
|
|
15
|
%
|
|
—
|
|
|
15
|
%
|
|
—
|
|
|
15
|
%
|
|
—
|
Stock-based
compensation, net of tax
|
|
|
5,704
|
|
|
0.08
|
|
|
5,704
|
|
|
0.08
|
|
|
3,582
|
|
|
0.05
|
Non-GAAP adjusted net
income excluding stock-based compensation - continuing
operations
|
|
$
|
51,344
|
|
$
|
0.69
|
|
$
|
40,655
|
|
$
|
0.55
|
|
$
|
22,035
|
|
$
|
0.30
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares used in
computing non-GAAP diluted net income per share
|
|
|
—
|
|
|
74,414
|
|
|
—
|
|
|
74,283
|
|
|
—
|
|
|
73,789
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months
Ended
|
|
|
March 31, 2021
|
|
March 31, 2020
|
Dollars in
thousands, except per share
data
|
|
$
|
|
per
diluted
share
|
|
$
|
|
per
diluted
share
|
Net income from
continuing operations
|
|
$
|
50,940
|
|
$
|
0.68
|
|
$
|
22,366
|
|
$
|
0.30
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of
intangible assets
|
|
|
19,665
|
|
|
0.26
|
|
|
20,940
|
|
|
0.28
|
Restructuring
charges
|
|
|
179
|
|
|
0.00
|
|
|
1,154
|
|
|
0.02
|
Tariff
adjustment
|
|
|
5,497
|
|
|
0.07
|
|
|
—
|
|
|
—
|
Merger and acquisition
costs
|
|
|
14,834
|
|
|
0.20
|
|
|
473
|
|
|
0.01
|
Tax adjustments
(1)
|
|
|
(1,359)
|
|
|
(0.02)
|
|
|
(4,167)
|
|
|
(0.06)
|
Tax effect of
adjustments
|
|
|
(9,165)
|
|
|
(0.12)
|
|
|
(5,676)
|
|
|
(0.08)
|
Non-GAAP adjusted
net income from continuing operations
|
|
$
|
80,591
|
|
$
|
1.08
|
|
$
|
35,090
|
|
$
|
0.48
|
Stock-based
compensation, pre-tax
|
|
|
14,191
|
|
|
0.19
|
|
|
8,624
|
|
|
0.12
|
Tax
rate
|
|
|
15
|
%
|
|
—
|
|
|
15
|
%
|
|
—
|
Stock-based
compensation, net of tax
|
|
|
12,062
|
|
$
|
0.16
|
|
|
7,330
|
|
|
0.10
|
Non-GAAP adjusted net
income excluding stock-based compensation - continuing
operations
|
|
$
|
92,653
|
|
$
|
1.25
|
|
$
|
42,420
|
|
$
|
0.58
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares used in
computing non-GAAP diluted net income per share
|
|
|
—
|
|
|
74,367
|
|
|
—
|
|
|
73,752
|
|
|
(1)
|
Tax adjustments
primarily related to stock compensation windfall benefit. The
Company elected to apply the tax benefit related to the stock
compensation windfall realized in the quarters ended March 31, 2021
and 2020 to the non-GAAP full year tax rate. The Company
elected to exclude a deferred tax benefit realized in the three
month period ended March 31, 2020 related to the extension of the
15 percent tax rate incentive in China.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended
|
|
Six Months
Ended
|
|
|
March 31,
|
|
December 31,
|
|
March 31,
|
|
March 31,
|
|
March 31,
|
Dollars in thousands
|
|
2021
|
|
2020
|
|
2020
|
|
2021
|
|
2020
|
GAAP net
income
|
|
$
|
23,748
|
|
$
|
26,028
|
|
$
|
9,127
|
|
$
|
49,776
|
|
$
|
22,184
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: Loss from
discontinued operations
|
|
|
184
|
|
|
979
|
|
|
65
|
|
|
1,164
|
|
|
182
|
Less: Interest
income
|
|
|
(18)
|
|
|
(76)
|
|
|
(137)
|
|
|
(94)
|
|
|
(836)
|
Add: Interest
expense
|
|
|
452
|
|
|
556
|
|
|
718
|
|
|
1,008
|
|
|
1,455
|
Add: Income tax
benefit
|
|
|
6,288
|
|
|
4,770
|
|
|
3,400
|
|
|
11,058
|
|
|
437
|
Add:
Depreciation
|
|
|
5,877
|
|
|
6,001
|
|
|
6,247
|
|
|
11,878
|
|
|
12,139
|
Add: Amortization of
completed technology
|
|
|
2,319
|
|
|
2,389
|
|
|
2,740
|
|
|
4,708
|
|
|
5,415
|
Add: Amortization of
customer relationships and acquired intangible assets
|
|
|
7,601
|
|
|
7,356
|
|
|
7,615
|
|
|
14,957
|
|
|
15,525
|
Earnings before
interest, taxes, depreciation and amortization
|
|
$
|
46,451
|
|
$
|
48,003
|
|
$
|
29,775
|
|
$
|
94,455
|
|
$
|
56,501
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended
|
|
Six Months
Ended
|
|
|
March 31,
|
|
December 31,
|
|
March 31,
|
|
March 31,
|
|
March 31,
|
Dollars in thousands
|
|
2021
|
|
2020
|
|
2020
|
|
2021
|
|
2020
|
Earnings before
interest, taxes, depreciation and amortization
|
|
$
|
46,451
|
|
$
|
48,003
|
|
$
|
29,775
|
|
$
|
94,455
|
|
$
|
56,501
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Add: Stock-based
compensation
|
|
|
7,481
|
|
|
6,710
|
|
|
4,214
|
|
|
14,191
|
|
|
8,624
|
Add: Restructuring
charges
|
|
|
92
|
|
|
87
|
|
|
578
|
|
|
179
|
|
|
1,154
|
Add: Merger and
acquisition costs
|
|
|
11,843
|
|
|
2,991
|
|
|
279
|
|
|
14,834
|
|
|
473
|
Add: Tariff
adjustment
|
|
|
5,497
|
|
|
—
|
|
|
—
|
|
|
5,497
|
|
|
—
|
Adjusted earnings
before interest, taxes, depreciation and amortization
|
|
$
|
71,364
|
|
$
|
57,791
|
|
$
|
34,846
|
|
$
|
129,156
|
|
$
|
66,752
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended
|
|
Dollars in
thousands
|
|
March 31, 2021
|
|
December 31, 2020
|
|
March 31, 2020
|
GAAP gross
profit/margin percentage
|
|
$
|
127,274
|
|
44.4
|
%
|
|
$
|
113,128
|
|
45.3
|
%
|
|
$
|
90,281
|
|
41.0
|
%
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of
completed technology
|
|
|
2,319
|
|
0.8
|
|
|
|
2,389
|
|
1.0
|
|
|
|
2,740
|
|
1.2
|
|
Tariff
adjustment
|
|
|
5,497
|
|
1.9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP adjusted
gross profit/gross margin percentage
|
|
$
|
135,090
|
|
47.1
|
%
|
|
$
|
115,517
|
|
46.3
|
%
|
|
$
|
93,021
|
|
42.2
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months
Ended
|
Dollars in
thousands
|
|
March 31, 2021
|
|
March 31, 2020
|
GAAP gross
profit/margin percentage
|
|
$
|
240,402
|
|
44.8
|
%
|
|
$
|
175,267
|
|
40.7
|
%
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of
completed technology
|
|
|
4,708
|
|
0.9
|
|
|
|
5,415
|
|
1.3
|
|
Tariff
adjustment
|
|
|
5,497
|
|
1.0
|
|
|
|
|
|
|
|
Non-GAAP adjusted
gross profit/gross margin percentage
|
|
$
|
250,607
|
|
46.7
|
%
|
|
$
|
180,682
|
|
41.9
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Brooks
Semiconductor Solutions Group
|
|
|
Quarter
Ended
|
Dollars in
thousands
|
|
March 31, 2021
|
|
December 31, 2020
|
|
March 31, 2020
|
GAAP gross
profit/margin percentage
|
|
$
|
69,413
|
|
44.2
|
%
|
|
$
|
55,789
|
|
42.5
|
%
|
|
$
|
48,637
|
|
38.9
|
%
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of
completed technology
|
|
|
298
|
|
0.2
|
|
|
|
384
|
|
0.3
|
|
|
|
722
|
|
0.6
|
|
Non-GAAP adjusted
gross profit/margin percentage
|
|
$
|
69,711
|
|
44.4
|
%
|
|
$
|
56,173
|
|
42.8
|
%
|
|
$
|
49,359
|
|
39.5
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Brooks Life
Sciences Products
|
|
Brooks Life
Sciences Services
|
|
|
Quarter
Ended
|
|
Quarter
Ended
|
Dollars in
thousands
|
|
March 31, 2021
|
|
December 31, 2020
|
|
March 31, 2020
|
|
March 31, 2021
|
|
December 31, 2020
|
|
March 31, 2020
|
GAAP gross
profit/margin percentage
|
|
$
|
24,051
|
|
45.9
|
%
|
|
$
|
20,531
|
|
45.1
|
%
|
|
$
|
13,380
|
|
43.2
|
%
|
|
$
|
33,813
|
|
43.8
|
%
|
|
$
|
36,810
|
|
50.7
|
%
|
|
$
|
28,283
|
|
44.0
|
%
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of
completed technology
|
|
|
280
|
|
0.5
|
|
|
|
273
|
|
0.6
|
|
|
|
292
|
|
0.9
|
|
|
|
1,741
|
|
2.3
|
|
|
|
1,732
|
|
2.4
|
|
|
|
1,725
|
|
2.7
|
|
Tariff
adjustment
|
|
|
—
|
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,497
|
|
7.1
|
|
|
|
—
|
|
—
|
|
|
|
—
|
|
—
|
|
Non-GAAP adjusted
gross profit/margin percentage
|
|
$
|
24,331
|
|
46.5
|
%
|
|
$
|
20,804
|
|
45.7
|
%
|
|
$
|
13,672
|
|
44.1
|
%
|
|
$
|
41,051
|
|
53.2
|
%
|
|
$
|
38,542
|
|
53.1
|
%
|
|
$
|
30,008
|
|
46.7
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Brooks Life
Sciences Total
|
|
|
Quarter
Ended
|
Dollars in
thousands
|
|
March 31, 2021
|
|
December 31, 2020
|
|
March 31, 2020
|
GAAP gross
profit/margin percentage
|
|
$
|
57,864
|
|
44.7
|
%
|
|
$
|
57,341
|
|
48.5
|
%
|
|
$
|
41,663
|
|
43.7
|
%
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of
completed technology
|
|
|
2,021
|
|
1.6
|
|
|
|
2,005
|
|
1.7
|
|
|
|
2,017
|
|
2.1
|
|
Tariff
adjustment
|
|
|
5,497
|
|
4.2
|
|
|
|
—
|
|
—
|
|
|
|
—
|
|
—
|
|
Non-GAAP adjusted
gross profit/margin percentage
|
|
$
|
65,382
|
|
50.5
|
%
|
|
$
|
59,346
|
|
50.2
|
%
|
|
$
|
43,680
|
|
45.8
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Brooks Semiconductor Solutions Group
|
|
|
Six Months
Ended
|
Dollars in
thousands
|
|
March 31, 2021
|
|
March 31, 2020
|
GAAP gross
profit/margin percentage
|
|
$
|
125,202
|
|
43.4
|
%
|
|
$
|
94,936
|
|
39.0
|
%
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of
completed technology
|
|
|
682
|
|
0.2
|
|
|
|
1,455
|
|
0.6
|
|
Non-GAAP adjusted
gross profit/margin percentage
|
|
$
|
125,884
|
|
43.6
|
%
|
|
$
|
96,391
|
|
39.5
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Brooks Life
Sciences Products
|
Brooks Life
Sciences Services
|
|
|
Six Months
Ended
|
Six Months
Ended
|
Dollars in
thousands
|
|
March 31, 2021
|
|
March 31, 2020
|
March 31, 2021
|
|
March 31, 2020
|
GAAP gross
profit/margin percentage
|
|
$
|
44,582
|
|
45.6
|
%
|
|
$
|
25,758
|
|
42.4
|
%
|
$
|
70,623
|
|
47.1
|
%
|
|
$
|
54,590
|
|
43.2
|
%
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of
completed technology
|
|
|
553
|
|
0.6
|
|
|
|
585
|
|
1.0
|
|
|
3,473
|
|
2.3
|
|
|
|
3,375
|
|
2.7
|
|
Tariff
adjustment
|
|
|
—
|
|
—
|
|
|
|
—
|
|
—
|
|
|
5,497
|
|
3.7
|
|
|
|
—
|
|
—
|
|
Non-GAAP adjusted
gross profit/margin percentage
|
|
$
|
45,135
|
|
46.1
|
%
|
|
$
|
26,343
|
|
43.4
|
%
|
$
|
79,593
|
|
53.1
|
%
|
|
$
|
57,965
|
|
45.9
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Brooks Life
Sciences Total
|
|
|
Six Months
Ended
|
Dollars in
thousands
|
|
March 31, 2021
|
|
March 31, 2020
|
GAAP gross
profit/margin percentage
|
|
$
|
115,205
|
|
46.5
|
%
|
|
$
|
80,348
|
|
43.0
|
%
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
-
|
|
Amortization of
completed technology
|
|
|
4,026
|
|
1.6
|
|
|
|
3,960
|
|
2.1
|
|
|
|
|
5,497
|
|
2.2
|
|
|
|
—
|
|
—
|
|
Non-GAAP adjusted
gross profit/margin percentage
|
|
$
|
124,728
|
|
50.4
|
%
|
|
$
|
84,308
|
|
45.1
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Brooks Semiconductor Solutions Group
|
|
Brooks Life Sciences
Products
|
|
Brooks Life
Sciences Services
|
|
Brooks Life
Sciences Total
|
|
|
Quarter Ended
|
|
Quarter Ended
|
|
Quarter Ended
|
|
Quarter Ended
|
|
|
March 31,
|
|
December 31,
|
|
March 31,
|
|
March 31,
|
|
December 31,
|
|
March 31,
|
|
March 31,
|
|
December 31,
|
|
March 31,
|
|
March 31,
|
|
December 31,
|
|
March 31,
|
Dollars in thousands
|
|
2021
|
|
2020
|
|
2020
|
|
2021
|
|
2020
|
|
2020
|
|
2021
|
|
2020
|
|
2020
|
|
2021
|
|
2020
|
|
2020
|
GAAP operating
profit
|
|
$
|
33,004
|
|
$
|
21,154
|
|
$
|
15,984
|
|
$
|
10,935
|
|
$
|
7,669
|
|
$
|
1,852
|
|
$
|
6,168
|
|
$
|
12,579
|
|
$
|
4,248
|
|
$
|
17,103
|
|
$
|
20,248
|
|
$
|
6,100
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of
completed technology
|
|
|
298
|
|
|
384
|
|
|
722
|
|
|
280
|
|
|
273
|
|
|
292
|
|
|
1,741
|
|
|
1,732
|
|
|
1,725
|
|
|
2,021
|
|
|
2,005
|
|
|
2,017
|
Tariff
adjustment
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
5,497
|
|
|
—
|
|
|
—
|
|
|
5,497
|
|
|
—
|
|
|
—
|
Non-GAAP adjusted
operating profit
|
|
$
|
33,302
|
|
$
|
21,538
|
|
$
|
16,706
|
|
$
|
11,215
|
|
$
|
7,942
|
|
$
|
2,144
|
|
$
|
13,406
|
|
$
|
14,311
|
|
$
|
5,973
|
|
$
|
24,621
|
|
$
|
22,253
|
|
$
|
8,117
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Segments
|
|
Corporate
|
|
Total
|
|
|
Quarter Ended
|
|
Quarter Ended
|
|
Quarter Ended
|
|
|
March 31,
|
|
December 31,
|
|
March 31,
|
|
March 31,
|
|
December 31,
|
|
March 31,
|
|
March 31,
|
|
December 31,
|
|
March 31,
|
Dollars in thousands
|
|
2021
|
|
2020
|
|
2020
|
|
2021
|
|
2020
|
|
2020
|
|
2021
|
|
2020
|
|
2020
|
GAAP operating profit
(loss)
|
|
$
|
50,107
|
|
$
|
41,402
|
|
$
|
22,084
|
|
$
|
(19,602)
|
|
$
|
(10,474)
|
|
$
|
(7,512)
|
|
$
|
30,505
|
|
$
|
30,928
|
|
$
|
14,572
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of
completed technology
|
|
|
2,319
|
|
|
2,389
|
|
|
2,739
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2,319
|
|
|
2,389
|
|
|
2,739
|
Tariff
adjustment
|
|
|
5,497
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
5,497
|
|
|
—
|
|
|
—
|
Amortization of
customer relationships and acquired intangible assets
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
7,601
|
|
|
7,356
|
|
|
7,615
|
|
|
7,601
|
|
|
7,356
|
|
|
7,615
|
Restructuring
charges
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
92
|
|
|
87
|
|
|
578
|
|
|
92
|
|
|
87
|
|
|
578
|
Merger and acquisition
costs
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
11,843
|
|
|
2,991
|
|
|
279
|
|
|
11,843
|
|
|
2,991
|
|
|
279
|
Non-GAAP adjusted
operating profit (loss)
|
|
$
|
57,923
|
|
$
|
43,791
|
|
$
|
24,823
|
|
$
|
(66)
|
|
$
|
(40)
|
|
$
|
960
|
|
$
|
57,857
|
|
$
|
43,751
|
|
$
|
25,783
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Brooks Semiconductor Solutions Group
|
|
Brooks Life Sciences
Products
|
|
Brooks Life Sciences
Services
|
|
|
Brooks Life Sciences
Total
|
|
|
|
Six Months
Ended
|
|
Six Months
Ended
|
|
Six Months
Ended
|
|
|
Six Months
Ended
|
|
Dollars in thousands
|
|
March 31,
|
|
March 31,
|
|
March 31,
|
|
March 31,
|
|
March 31,
|
|
March 31,
|
|
|
March 31,
|
|
March 31,
|
|
|
|
2021
|
|
2020
|
|
2021
|
|
2020
|
|
2021
|
|
2020
|
|
|
2021
|
|
2020
|
|
GAAP operating
profit
|
|
$
|
54,158
|
|
$
|
30,252
|
|
$
|
18,604
|
|
$
|
1,921
|
|
$
|
18,747
|
|
$
|
8,211
|
|
|
$
|
37,351
|
|
$
|
10,132
|
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of
completed technology
|
|
|
682
|
|
|
1,455
|
|
|
553
|
|
|
585
|
|
|
3,473
|
|
|
3,375
|
|
|
|
4,026
|
|
|
3,960
|
|
Tariff
adjustment
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
5,497
|
|
|
—
|
|
|
|
5,497
|
|
|
—
|
|
Non-GAAP adjusted
operating profit
|
|
$
|
54,840
|
|
$
|
31,707
|
|
$
|
19,157
|
|
$
|
2,506
|
|
$
|
27,717
|
|
$
|
11,586
|
|
|
$
|
46,874
|
|
$
|
14,092
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Segments
|
|
Corporate
|
|
Total
|
|
|
Six Months
Ended
|
|
Six Months
Ended
|
|
Six Months
Ended
|
Dollars in thousands
|
|
March 31,
|
|
March 31,
|
|
March 31,
|
|
March 31,
|
|
March 31,
|
|
March 31,
|
|
|
2021
|
|
2020
|
|
2021
|
|
2020
|
|
2021
|
|
2020
|
GAAP operating profit
(loss)
|
|
$
|
91,509
|
|
$
|
40,384
|
|
$
|
(30,075)
|
|
$
|
(15,146)
|
|
$
|
61,434
|
|
$
|
25,238
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of
completed technology
|
|
|
4,708
|
|
|
5,415
|
|
|
—
|
|
|
—
|
|
|
4,708
|
|
|
5,415
|
Tariff
adjustment
|
|
|
5,497
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
5,497
|
|
|
—
|
Amortization of
customer relationships and acquired intangible assets
|
|
|
—
|
|
|
—
|
|
|
14,957
|
|
|
15,525
|
|
|
14,957
|
|
|
15,525
|
Restructuring
charges
|
|
|
—
|
|
|
—
|
|
|
179
|
|
|
1,154
|
|
|
179
|
|
|
1,154
|
Merger and acquisition
costs
|
|
|
—
|
|
|
—
|
|
|
14,834
|
|
|
473
|
|
|
14,834
|
|
|
473
|
Restructuring related
charges
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
Non-GAAP adjusted
operating profit (loss)
|
|
$
|
101,714
|
|
$
|
45,799
|
|
$
|
(105)
|
|
$
|
2,006
|
|
$
|
101,609
|
|
$
|
47,805
|
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SOURCE Brooks Automation