Brooks Automation Reports Results of Second Quarter of Fiscal 2021, Ended March 31, 2021, and Announces Quarterly Cash Dividend – PRNewswire

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.

Financial Results Summary

QuarterEnded

Dollarsinmillions, except per share data

March31,

December31,

March31,

Change vs.

2021

2020

2020

Prior Qtr

Prior Year

Revenue

$

287

$

250

$

220

15

%

30

%

Semiconductor Solutions

$

157

$

131

$

125

20

%

26

%

Life Sciences

$

130

$

118

$

95

10

%

36

%

Diluted EPS Continuing Operations

$

0.32

$

0.36

$

0.12

(12)

%

158

%

Diluted EPS Total

$

0.32

$

0.35

$

0.12

(9)

%

158

%

Non-GAAP Diluted EPS Continuing Operations

$

0.61

$

0.47

$

0.25

30

%

145

%

Adjusted EBITDA

$

71

$

58

$

35

23

%

105

%

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 ResultsSecond Quarter, Fiscal 2021

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

Cash and Liquidity

Quarterly Cash DividendThe 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 2021The 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 WebcastBrooks 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 http://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.

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Brooks Automation Reports Results of Second Quarter of Fiscal 2021, Ended March 31, 2021, and Announces Quarterly Cash Dividend - PRNewswire