Brooks Automation Inc. (NASDAQ:BRKS) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 13.27%.
Brooks Automation Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 78.57% to $0.03 in the quarter versus EPS of $0.14 in the year-earlier quarter.
Revenue: Decreased 15.91% to $118.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Brooks Automation Inc. reported adjusted EPS income of $0.03 per share. By that measure, the company missed the mean analyst estimate of $0.04. It missed the average revenue estimate of $121.84 million.
Quoting Management: “Despite flat market conditions over the quarter, we generated revenue and profits performance in line with our guidance. Cash flow generation was strong as we continued to improve gross margin and reduce inventory,” said Steve Schwartz, Chief Executive Officer of Brooks. “We closed out several of the major Life Science Systems orders that were in our pipeline and we booked $18.5 million of orders in this business during the quarter. This was an important step in the recovery of this business after a period of slow spending. New leadership in the Life Science Systems business is strongly focused on working with current and prospective customers to maintain this momentum.”
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