CHELMSFORD, Mass., Aug. 6, 2018 /PRNewswire/ -- Brooks
Automation, Inc. (Nasdaq: BRKS), a leading worldwide provider of automation and cryogenic solutions for multiple markets
including semiconductor manufacturing and life sciences, today reported financial results for the third quarter of 2018, ended
June 30, 2018.
Highlights of Fiscal Third Quarter of 2018
- Revenue was $223 million, 8% higher compared to 2018 Q2 and 23% higher compared to 2017
Q3;
- GAAP Net Income was $23 million with diluted EPS of $0.32;
- Non-GAAP Net Income was $32 million;
- Non-GAAP diluted EPS of $0.46 was 14% higher compared to 2018 Q2.
Summary of GAAP and Non-GAAP Earnings
|
|
|
|
|
|
|
|
|
|
Quarter Ended
|
|
June 30,
|
|
March 31,
|
|
June 30,
|
|
Dollars in thousands, except per share data
|
2018
|
|
2018
|
|
2017
|
|
GAAP net income attributable to Brooks Automation, Inc.
|
$
|
22,717
|
|
$
|
67,020
|
|
$
|
17,350
|
|
GAAP diluted earnings per share
|
$
|
0.32
|
|
$
|
0.95
|
|
$
|
0.25
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP net income attributable to Brooks Automation, Inc.
|
$
|
32,358
|
|
$
|
28,267
|
|
$
|
25,353
|
|
Non-GAAP diluted earnings per share
|
$
|
0.46
|
|
$
|
0.40
|
|
$
|
0.36
|
|
|
|
|
|
|
|
|
|
|
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.
Management Comments
"The results in the third quarter of our 2018 fiscal year continue to highlight the capability of two strong business
segments well-positioned in two strong markets," commented Steve Schwartz, CEO of Brooks
Automation. "Revenue growth of 23% year over year was driven by both segments with 20% growth in our Semiconductor business
unit, and 35% growth in Life Sciences. The acquisitions in this quarter of Tec-Sem, which added to our Semiconductor
reticle stocker offerings, and BioSpeciMan, which added reach and customer relationships in Canada to our Life Science's biostorage offerings, will further enhance our growth capability going
forward."
GAAP Summary
Revenue for the third quarter of fiscal 2018 increased 8% to $223 million compared to
the second quarter of fiscal 2018. Gross profits increased 6% from the second quarter of fiscal 2018, providing gross margins of
39.9%, 70 bps below the second quarter. Operating expense of $62 million increased 3%, or
$2 million, primarily driven by the two acquisitions that closed in April 2018. Income tax
expense totaled $3 million. GAAP net income in the quarter was $23
million and diluted earnings per share was $0.32.
The amortization of intangible assets, restructuring charges, impact of purchase price accounting adjustments, charges
related to M&A and special charges are appropriately included in the GAAP summary of earnings discussed above. The
impact on earnings of such non-GAAP adjustments is referenced in the unaudited table included within this press release.
In the following analysis of the non-GAAP results, Brooks 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. Brooks also excludes special charges or gains, such as impairment losses, gains or losses from the
sale of assets, as well as other gains and charges that are assessed to not be representative of the normal operations of the
business.
Results of Q3 Fiscal 2018 (Non-GAAP Discussion)
Third quarter non-GAAP net income was $32 million, resulting in non-GAAP earnings per
share of $0.46. This compares to non-GAAP net income of $28 million
and non-GAAP earnings per share of $0.40 in the second quarter of fiscal 2018, and non-GAAP net
income of $25 million and non-GAAP earnings per share of $0.36 in the
third quarter of fiscal 2017. Compared sequentially to the second quarter, the Company reported 80 basis points expansion
at the non-GAAP operating profit margin line and the non-GAAP net income margin line in the third quarter. The primary
driver of the margin expansion was 8% revenue growth with only 3% growth of non-GAAP operating expense.
As noted above, revenue for the third fiscal quarter of 2018 was $223 million, up 8% compared to
the second fiscal quarter of 2018. The Semiconductor Solutions segment revenue was higher in the third quarter compared to the
second quarter by $15 million, or 9%, at $174 million. The Life
Sciences segment revenue grew $1 million, or 2%, sequentially to $50
million. The Life Sciences segment revenue increased 35% year-over-year in total and 13% on an organic
basis.
Adjusted gross margin, which excludes amortization and purchase accounting impacts, was 40.9% in the third quarter, slightly
below the prior quarter by 20 basis points. The Semiconductor Solutions segment non-GAAP adjusted gross margin was 41.7% in
the third quarter, which was 20 basis points higher than last quarter's results reflecting improved margins in vacuum
automation. The Life Sciences segment non-GAAP adjusted gross margin was 38.1% in the third quarter, 170 basis points lower
than the second quarter, primarily driven by higher costs in store systems. In summary, the total Brooks non-GAAP adjusted
gross profit increased by 7% or $6 million compared to the second quarter, driven primarily by the
revenue growth and improved gross margins in Semiconductor Solutions.
The Company's non-GAAP tax rate in the quarter was 10%, approximately flat to the second quarter tax rate. The non-GAAP
tax provision in the third quarter was $3 million, which increased $0.2
million compared to the second quarter.
Cash flow from operations was $19 million in the third quarter. The company made payments
of $18 million for acquisitions and paid $7 million in
dividends. The total of cash, cash equivalents, and marketable securities reported was $232
million as of June 30, 2018.
Quarterly Cash Dividend
The Company additionally announced that the Board of Directors has reiterated a dividend of $0.10 per share payable on September 28, 2018 to stockholders of record on
September 7, 2018. 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 Fiscal Fourth Quarter 2018
The Company announced revenue and earnings guidance for the fourth quarter of fiscal 2018. Revenue is expected
to be in the range of $203 million to $213 million and non-GAAP
diluted earnings per share is expected to be in the range of $0.35 to $0.43. GAAP diluted earnings per share for the fourth quarter is expected to be in the range of
$0.21 to $0.28, reflecting the impact of amortization, purchase price
accounting, and anticipated restructuring charges.
Conference Call
Brooks management will webcast its third quarter earnings conference call today at 5:00 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.com, and will be archived online on this website for convenient on-demand replay. In addition,
you may call 877-256-3282 (US & Canada only) or +1-212-271-4657 (international) to listen to
the live webcast.
About Brooks Automation, Inc.
Brooks is a leading worldwide provider of automation and cryogenic solutions for multiple markets including
semiconductor manufacturing and life sciences. Brooks' technologies, engineering competencies and global service
capabilities provide customers speed to market and ensure high uptime and rapid response, which equate to superior value in their
mission-critical controlled environments. Since 1978, Brooks has been a leading partner to the global semiconductor
manufacturing market as a provider of precision automation and cryogenic vacuum solutions. Since 2011, Brooks has applied
its automation and cryogenics expertise to meet the sample storage needs of customers in the life sciences industry.
Brooks' life sciences offerings include a broad range of products and services for on-site infrastructure for sample management
in ‑20°C to -190°C temperatures, as well as comprehensive outsource service solutions across the complete life cycle of
biological samples including collection, transportation, processing, storage, protection, retrieval and disposal. Brooks is
headquartered in Chelmsford, MA, with operations in North
America, Europe and Asia. For more information, visit
www.brooks.com.
"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 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.
CONTACTS:
Sherry Dinsmore
Brooks Automation
978.262.2400
sherry.dinsmore@brooks.com
John Mills
Partner
ICR, LLC
646.277.1254
john.mills@icrinc.com
|
BROOKS AUTOMATION, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)
(In thousands, except per share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
|
June 30,
|
|
June 30,
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
Revenue
|
|
|
|
|
|
|
|
|
|
|
|
|
Products
|
$
|
174,113
|
|
$
|
141,957
|
|
$
|
476,788
|
|
$
|
396,684
|
|
Services
|
|
49,367
|
|
|
39,760
|
|
|
143,280
|
|
|
114,321
|
|
Total revenue
|
|
223,480
|
|
|
181,717
|
|
|
620,068
|
|
|
511,005
|
|
Cost of revenue
|
|
|
|
|
|
|
|
|
|
|
|
|
Products
|
|
104,443
|
|
|
85,658
|
|
|
282,977
|
|
|
243,360
|
|
Services
|
|
29,816
|
|
|
24,487
|
|
|
88,426
|
|
|
74,606
|
|
Total cost of revenue
|
|
134,259
|
|
|
110,145
|
|
|
371,403
|
|
|
317,966
|
|
Gross profit
|
|
89,221
|
|
|
71,572
|
|
|
248,665
|
|
|
193,039
|
|
Operating expenses
|
|
|
|
|
|
|
|
|
|
|
|
|
Research and development
|
|
14,177
|
|
|
11,958
|
|
|
40,501
|
|
|
34,148
|
|
Selling, general and administrative
|
|
48,283
|
|
|
40,016
|
|
|
136,695
|
|
|
109,496
|
|
Restructuring charges
|
|
82
|
|
|
828
|
|
|
131
|
|
|
2,663
|
|
Total operating expenses
|
|
62,542
|
|
|
52,802
|
|
|
177,327
|
|
|
146,307
|
|
Operating income
|
|
26,679
|
|
|
18,770
|
|
|
71,338
|
|
|
46,732
|
|
Interest income
|
|
689
|
|
|
137
|
|
|
1,193
|
|
|
432
|
|
Interest expense
|
|
(2,465)
|
|
|
(93)
|
|
|
(6,842)
|
|
|
(286)
|
|
Gain on settlement of equity method investment
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,847
|
|
Other expense, net
|
|
(316)
|
|
|
(314)
|
|
|
(2,228)
|
|
|
(848)
|
|
Income before income taxes and earnings of equity method
investments
|
|
24,587
|
|
|
18,500
|
|
|
63,461
|
|
|
47,877
|
|
Income tax (benefit) provision
|
|
3,310
|
|
|
3,680
|
|
|
(37,720)
|
|
|
9,900
|
|
Income before equity in earnings of equity method investments
|
|
21,277
|
|
|
14,820
|
|
|
101,181
|
|
|
37,977
|
|
Equity in earnings of equity method investments
|
|
1,329
|
|
|
2,530
|
|
|
4,931
|
|
|
7,249
|
|
Net income
|
$
|
22,606
|
|
$
|
17,350
|
|
$
|
106,112
|
|
$
|
45,226
|
|
Net loss attributable to noncontrolling interest
|
|
111
|
|
|
—
|
|
|
111
|
|
|
—
|
|
Net income attributable to Brooks Automation, Inc.
|
|
22,717
|
|
|
17,350
|
|
|
106,223
|
|
|
45,226
|
|
Basic net income per share
|
$
|
0.32
|
|
$
|
0.25
|
|
$
|
1.51
|
|
$
|
0.65
|
|
Diluted net income per share
|
|
0.32
|
|
|
0.25
|
|
|
1.50
|
|
|
0.64
|
|
Dividend declared per share
|
|
0.10
|
|
|
0.10
|
|
|
0.30
|
|
|
0.30
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average shares outstanding used in computing net income per
share:
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
70,596
|
|
|
69,711
|
|
|
70,425
|
|
|
69,496
|
|
Diluted
|
|
70,978
|
|
|
70,405
|
|
|
70,933
|
|
|
70,198
|
|
BROOKS AUTOMATION, INC.
CONSOLIDATED BALANCE SHEETS
(unaudited)
(In thousands, except share and per share data)
|
|
|
|
|
|
|
|
June 30,
|
|
September 30,
|
|
2018
|
|
2017
|
|
Assets
|
|
|
|
|
|
|
Current assets
|
|
|
|
|
|
|
Cash and cash equivalents
|
$
|
179,376
|
|
$
|
101,622
|
|
Marketable securities
|
|
42,096
|
|
|
28
|
|
Accounts receivable, net
|
|
156,678
|
|
|
120,828
|
|
Inventories
|
|
132,298
|
|
|
106,395
|
|
Prepaid expenses and other current assets
|
|
31,432
|
|
|
23,138
|
|
Total current assets
|
|
541,880
|
|
|
352,011
|
|
Property, plant and equipment, net
|
|
61,537
|
|
|
58,462
|
|
Long-term marketable securities
|
|
10,511
|
|
|
2,642
|
|
Long-term deferred tax assets
|
|
46,312
|
|
|
1,692
|
|
Goodwill
|
|
282,205
|
|
|
233,638
|
|
Intangible assets, net
|
|
106,195
|
|
|
83,520
|
|
Equity method investment
|
|
37,074
|
|
|
28,593
|
|
Other assets
|
|
5,716
|
|
|
6,070
|
|
Total assets
|
$
|
1,091,430
|
|
$
|
766,628
|
|
Liabilities and Stockholders' Equity
|
|
|
|
|
|
|
Current liabilities
|
|
|
|
|
|
|
Current portion of long term debt
|
$
|
2,000
|
|
$
|
—
|
|
Accounts payable
|
|
67,589
|
|
|
49,100
|
|
Deferred revenue
|
|
24,612
|
|
|
24,292
|
|
Accrued warranty and retrofit costs
|
|
8,759
|
|
|
8,054
|
|
Accrued compensation and benefits
|
|
25,727
|
|
|
27,065
|
|
Accrued restructuring costs
|
|
214
|
|
|
1,708
|
|
Accrued income taxes payable
|
|
7,953
|
|
|
11,417
|
|
Accrued expenses and other current liabilities
|
|
28,044
|
|
|
25,142
|
|
Total current liabilities
|
|
164,898
|
|
|
146,778
|
|
Long-term debt
|
|
194,470
|
|
|
—
|
|
Long-term tax reserves
|
|
1,430
|
|
|
1,687
|
|
Long-term deferred tax liabilities
|
|
6,545
|
|
|
3,748
|
|
Long-term pension liabilities
|
|
5,268
|
|
|
1,979
|
|
Other long-term liabilities
|
|
5,723
|
|
|
4,792
|
|
Total liabilities
|
|
378,334
|
|
|
158,984
|
|
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, 84,096,224
shares
issued and 70,634,355 shares outstanding at June 30, 2018, 83,294,848 shares issued and
69,832,979 shares outstanding at September 30, 2017
|
|
841
|
|
|
833
|
|
Additional paid-in capital
|
|
1,891,304
|
|
|
1,874,918
|
|
Accumulated other comprehensive income
|
|
18,373
|
|
|
15,213
|
|
Treasury stock at cost - 13,461,869 shares
|
|
(200,956)
|
|
|
(200,956)
|
|
Accumulated deficit
|
|
(997,342)
|
|
|
(1,082,364)
|
|
Total Brooks Automation, Inc. stockholders' equity
|
|
712,220
|
|
|
607,644
|
|
Noncontrolling interest in subsidiary
|
|
876
|
|
|
—
|
|
Total stockholders' equity
|
|
713,096
|
|
|
607,644
|
|
Total liabilities and stockholders' equity
|
$
|
1,091,430
|
|
$
|
766,628
|
|
BROOKS AUTOMATION, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited)
(In thousands)
|
|
|
|
|
|
|
|
Nine Months Ended
|
|
June 30,
|
|
2018
|
|
2017
|
|
Cash flows from operating activities
|
|
|
|
|
|
|
Net income
|
$
|
106,112
|
|
$
|
45,226
|
|
Adjustments to reconcile net income to net cash provided by operating
activities:
|
|
|
|
|
|
|
Depreciation and amortization
|
|
27,621
|
|
|
20,649
|
|
Gain on settlement of equity method investment
|
|
—
|
|
|
(1,847)
|
|
Stock-based compensation
|
|
14,999
|
|
|
11,081
|
|
Amortization of premium on marketable securities and deferred financing
costs
|
|
565
|
|
|
24
|
|
Earnings of equity method investments
|
|
(4,931)
|
|
|
(7,249)
|
|
Loss recovery on insurance claim
|
|
(1,103)
|
|
|
—
|
|
Deferred income tax benefit
|
|
(48,274)
|
|
|
498
|
|
Other gains on disposals of assets
|
|
—
|
|
|
(106)
|
|
Changes in operating assets and liabilities, net of acquisitions:
|
|
|
|
|
|
|
Accounts receivable
|
|
(32,887)
|
|
|
(14,644)
|
|
Inventories
|
|
(21,647)
|
|
|
(12,851)
|
|
Prepaid expenses and other current assets
|
|
(4,395)
|
|
|
(6,076)
|
|
Accounts payable
|
|
16,656
|
|
|
9,470
|
|
Deferred revenue
|
|
487
|
|
|
17,875
|
|
Accrued warranty and retrofit costs
|
|
(192)
|
|
|
1,299
|
|
Accrued compensation and tax withholdings
|
|
(1,252)
|
|
|
279
|
|
Accrued restructuring costs
|
|
(1,523)
|
|
|
(4,201)
|
|
Accrued expenses and other current liabilities
|
|
(7,478)
|
|
|
1,954
|
|
Net cash provided by operating activities
|
|
42,758
|
|
|
61,381
|
|
Cash flows from investing activities
|
|
|
|
|
|
|
Purchases of property, plant and equipment
|
|
(9,320)
|
|
|
(6,827)
|
|
Purchases of marketable securities
|
|
(58,312)
|
|
|
(240)
|
|
Sales and maturities of marketable securities
|
|
8,450
|
|
|
3,590
|
|
Acquisitions, net of cash acquired
|
|
(82,977)
|
|
|
(5,346)
|
|
Purchases of other investments
|
|
—
|
|
|
(170)
|
|
Proceeds from sales of property, plant and equipment
|
|
200
|
|
|
—
|
|
Net cash used in investing activities
|
|
(141,959)
|
|
|
(8,993)
|
|
Cash flows from financing activities
|
|
|
|
|
|
|
Proceeds from issuance of common stock
|
|
1,395
|
|
|
960
|
|
Proceeds from term loan
|
|
197,554
|
|
|
—
|
|
Payment of deferred financing costs
|
|
(318)
|
|
|
(27)
|
|
Repayment of term loan
|
|
(1,000)
|
|
|
—
|
|
Common stock dividends paid
|
|
(21,202)
|
|
|
(20,932)
|
|
Net cash provided by (used in) financing activities
|
|
176,429
|
|
|
(19,999)
|
|
Effects of exchange rate changes on cash and cash equivalents
|
|
526
|
|
|
(394)
|
|
Net increase in cash and cash equivalents
|
|
77,754
|
|
|
31,995
|
|
Cash and cash equivalents, beginning of period
|
|
101,622
|
|
|
85,086
|
|
Cash and cash equivalents, end of period
|
$
|
179,376
|
|
$
|
117,081
|
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. In this context, the Company has also removed the effect of reversing the valuation allowance reserve on the U.S.
deferred income tax assets. 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
|
|
|
June 30, 2018
|
|
March 31, 2018
|
|
June 30, 2017
|
|
|
|
|
per diluted
|
|
|
|
per diluted
|
|
|
|
per diluted
|
|
Dollars in thousands, except per share
data
|
|
$
|
|
share
|
|
$
|
|
share
|
|
$
|
|
share
|
|
Net income attributible to Brooks Automation, Inc.
|
|
$
|
22,717
|
|
$
|
0.32
|
|
$
|
67,020
|
|
$
|
0.95
|
|
$
|
17,350
|
|
$
|
0.25
|
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchase accounting impact on inventory and
contracts acquired
|
|
|
736
|
|
|
0.01
|
|
|
—
|
|
|
—
|
|
|
71
|
|
|
—
|
|
Amortization of intangible assets
|
|
|
6,584
|
|
|
0.09
|
|
|
5,611
|
|
|
0.08
|
|
|
4,330
|
|
|
0.06
|
|
Restructuring charges
|
|
|
82
|
|
|
0.00
|
|
|
49
|
|
|
0.00
|
|
|
828
|
|
|
0.01
|
|
Merger costs
|
|
|
2,460
|
|
|
0.03
|
|
|
2,666
|
|
|
0.04
|
|
|
3,654
|
|
|
0.05
|
|
Adjustment of valuation allowance against
deferred tax assets
|
|
|
690
|
|
|
0.01
|
|
|
(46,158)
|
|
|
(0.65)
|
|
|
—
|
|
|
—
|
|
Tax effect of adjustments
|
|
|
(800)
|
|
|
(0.01)
|
|
|
(922)
|
|
|
(0.01)
|
|
|
(880)
|
|
|
(0.01)
|
|
Net loss attributible to noncontrolling interest
|
|
|
(111)
|
|
|
(0.00)
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Non-GAAP adjusted net income attributible to
Brooks Automation, Inc.
|
|
|
32,358
|
|
|
0.46
|
|
|
28,266
|
|
|
0.40
|
|
|
25,353
|
|
|
0.36
|
|
Stock based compensation, pre-tax
|
|
|
4,870
|
|
|
—
|
|
|
5,320
|
|
|
—
|
|
|
4,197
|
|
|
—
|
|
Tax rate
|
|
|
10
|
%
|
|
—
|
|
|
10
|
%
|
|
—
|
|
|
15
|
%
|
|
—
|
|
Stock-based compensation, net of tax
|
|
|
4,402
|
|
|
0.06
|
|
|
4,778
|
|
|
0.07
|
|
|
3,559
|
|
|
0.05
|
|
Non-GAAP adjusted net income attributible to
Brooks Automation, Inc.- excluding stock-based
compensation
|
|
$
|
36,760
|
|
$
|
0.52
|
|
$
|
33,044
|
|
$
|
0.47
|
|
$
|
28,912
|
|
$
|
0.41
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares used in computing non-GAAP diluted
net income attributible to Brooks Automation,
Inc. per share
|
|
|
—
|
|
|
70,978
|
|
|
—
|
|
|
70,613
|
|
|
—
|
|
|
70,405
|
|
|
|
|
|
|
|
|
Nine Months Ended
|
|
|
|
|
|
|
|
|
June 30, 2018
|
|
June 30, 2017
|
|
|
|
|
|
|
|
|
|
|
per diluted
|
|
|
|
per diluted
|
|
Dollars in thousands, except per share
data
|
|
|
|
|
|
|
|
$
|
|
share
|
|
$
|
|
share
|
|
Net income attributible to Brooks Automation, Inc.
|
|
|
|
|
|
|
|
$
|
106,223
|
|
$
|
1.50
|
|
$
|
45,226
|
|
$
|
0.64
|
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchase accounting impact on inventory and
contracts acquired
|
|
|
|
|
|
|
|
|
1,896
|
|
|
0.03
|
|
|
523
|
|
|
0.01
|
|
Amortization of intangible assets
|
|
|
|
|
|
|
|
|
17,688
|
|
|
0.25
|
|
|
12,743
|
|
|
0.18
|
|
Restructuring charges
|
|
|
|
|
|
|
|
|
131
|
|
|
0.00
|
|
|
2,663
|
|
|
0.04
|
|
Merger costs
|
|
|
|
|
|
|
|
|
5,739
|
|
|
0.08
|
|
|
4,839
|
|
|
0.07
|
|
Less: Fair value adjustment of equity investment
|
|
|
|
|
|
|
|
|
—
|
|
|
—
|
|
|
(1,847)
|
|
|
(0.03)
|
|
Add: True-up of BioCision stub period adjustment
|
|
|
|
|
|
|
|
|
—
|
|
|
—
|
|
|
203
|
|
|
—
|
|
Adjustment of valuation allowance against
deferred tax assets
|
|
|
|
|
|
|
|
|
(45,468)
|
|
|
(0.64)
|
|
|
—
|
|
|
—
|
|
Tax effect of adjustments
|
|
|
|
|
|
|
|
|
(2,301)
|
|
|
(0.03)
|
|
|
(1,856)
|
|
|
(0.03)
|
|
Tax Reform - rate change applied to deferred tax
liabilities
|
|
|
|
|
|
|
|
|
(671)
|
|
|
(0.01)
|
|
|
—
|
|
|
—
|
|
Net loss attributible to noncontrolling interest
|
|
|
|
|
|
|
|
|
(111)
|
|
|
(0.00)
|
|
|
—
|
|
|
—
|
|
Non-GAAP adjusted net income attributible to
Brooks Automation, Inc.
|
|
|
|
|
|
|
|
|
83,126
|
|
|
1.17
|
|
|
62,494
|
|
|
0.89
|
|
Stock-based compensation, pre-tax
|
|
|
|
|
|
|
|
|
14,999
|
|
|
—
|
|
|
11,081
|
|
|
—
|
|
Tax rate
|
|
|
|
|
|
|
|
|
11
|
%
|
|
—
|
|
|
16
|
%
|
|
—
|
|
Stock-based compensation, net of tax
|
|
|
|
|
|
|
|
|
13,289
|
|
$
|
0.19
|
|
|
9,330
|
|
|
0.13
|
|
Non-GAAP adjusted net income attributible to
Brooks Automation, Inc.- excluding stock-based
compensation
|
|
|
|
|
|
|
|
$
|
96,415
|
|
$
|
1.36
|
|
$
|
71,824
|
|
$
|
1.02
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares used in computing non-GAAP diluted net
income attributible to Brooks Automation, Inc. per share
|
|
|
|
|
|
|
|
|
—
|
|
|
70,933
|
|
|
—
|
|
|
70,198
|
|
|
Quarter Ended
|
|
|
|
June 30, 2018
|
|
March 31, 2018
|
|
June 30, 2017
|
|
Dollars in thousands
|
|
$
|
|
%
|
|
$
|
|
%
|
|
$
|
|
%
|
|
GAAP gross profit/gross margin percentage
|
|
$
|
89,221
|
|
39.9
|
%
|
|
$
|
84,229
|
|
40.6
|
%
|
|
$
|
71,572
|
|
39.4
|
%
|
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of completed technology
|
|
|
1,504
|
|
0.7
|
%
|
|
|
982
|
|
0.5
|
%
|
|
|
1,051
|
|
0.6
|
%
|
|
Purchase accounting impact on
inventory and contracts acquired
|
|
|
736
|
|
0.3
|
%
|
|
|
—
|
|
0.0
|
%
|
|
|
71
|
|
0.0
|
%
|
|
Non-GAAP adjusted gross
profit/gross margin percentage
|
|
$
|
91,461
|
|
40.9
|
%
|
|
$
|
85,211
|
|
41.1
|
%
|
|
$
|
72,694
|
|
40.0
|
%
|
|
|
|
|
|
|
|
|
Nine Months Ended
|
|
|
|
|
|
|
|
|
June 30, 2018
|
|
June 30, 2017
|
|
Dollars in thousands
|
|
|
|
|
|
|
|
$
|
|
%
|
|
|
$
|
|
%
|
|
GAAP gross profit/gross margin percentage
|
|
|
|
|
|
|
|
$
|
248,665
|
|
40.1
|
%
|
|
$
|
193,039
|
|
37.8
|
%
|
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of completed
technology
|
|
|
|
|
|
|
|
|
3,390
|
|
0.5
|
%
|
|
|
3,105
|
|
0.6
|
%
|
|
Purchase accounting impact on
inventory and contracts acquired
|
|
|
|
|
|
|
|
|
1,896
|
|
0.3
|
%
|
|
|
523
|
|
0.1
|
%
|
|
Non-GAAP adjusted gross
profit/gross margin percentage
|
|
|
|
|
|
|
|
$
|
253,951
|
|
41.0
|
%
|
|
$
|
196,667
|
|
38.5
|
%
|
|
|
Quarter Ended
|
|
Nine Months Ended
|
|
|
June 30,
|
|
March 31,
|
|
June 30,
|
|
June 30,
|
|
June 30,
|
|
Dollars in thousands
|
|
2018
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
GAAP net income attributable to Brooks Automation, Inc.
|
|
$
|
22,717
|
|
$
|
67,020
|
|
$
|
17,350
|
|
$
|
106,223
|
|
$
|
45,226
|
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: Interest income
|
|
|
(689)
|
|
|
(356)
|
|
|
(137)
|
|
|
(1,193)
|
|
|
(432)
|
|
Add: Interest expense
|
|
|
2,465
|
|
|
2,196
|
|
|
93
|
|
|
6,842
|
|
|
286
|
|
Add: Income tax provision
|
|
|
3,310
|
|
|
(43,880)
|
|
|
3,680
|
|
|
(37,720)
|
|
|
9,900
|
|
Add: Depreciation
|
|
|
3,403
|
|
|
3,500
|
|
|
2,589
|
|
|
9,933
|
|
|
7,907
|
|
Add: Amortization of completed technology
|
|
|
1,504
|
|
|
982
|
|
|
1,051
|
|
|
3,390
|
|
|
3,105
|
|
Add: Amortization of customer relationships
and acquired intangible assets
|
|
|
5,080
|
|
|
4,629
|
|
|
3,279
|
|
|
14,298
|
|
|
9,638
|
|
Earnings before interest, taxes, depreciation and
amortization
|
|
$
|
37,790
|
|
$
|
34,091
|
|
$
|
27,905
|
|
$
|
101,773
|
|
$
|
75,630
|
|
|
Quarter Ended
|
|
Nine Months Ended
|
|
|
June 30,
|
|
March 31,
|
|
June 30,
|
|
June 30,
|
|
June 30,
|
|
Dollars in thousands
|
|
2018
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
Earnings before interest, taxes, depreciation and
amortization
|
|
$
|
37,790
|
|
$
|
34,091
|
|
$
|
27,905
|
|
$
|
101,773
|
|
$
|
75,630
|
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: Fair value adjustment of equity method
investment
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(1,847)
|
|
Add: Stock-based compensation
|
|
|
4,870
|
|
|
5,320
|
|
|
4,197
|
|
|
14,999
|
|
|
11,081
|
|
Add: Restructuring charges
|
|
|
82
|
|
|
49
|
|
|
828
|
|
|
131
|
|
|
2,663
|
|
Add: BioCision stub period adjustment
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
203
|
|
Add: Purchase accounting impact on inventory
and contracts acquired
|
|
|
736
|
|
|
—
|
|
|
71
|
|
|
1,896
|
|
|
523
|
|
Add: Merger costs
|
|
|
2,460
|
|
|
2,666
|
|
|
3,654
|
|
|
5,739
|
|
|
4,839
|
|
Adjusted earnings before interest, taxes,
depreciation and amortization
|
|
$
|
45,938
|
|
$
|
42,126
|
|
$
|
36,655
|
|
$
|
124,538
|
|
$
|
93,092
|
|
|
Quarter Ended
|
|
Nine Months Ended
|
|
|
June 30,
|
|
March 31,
|
|
June 30,
|
|
June 30,
|
|
June 30,
|
|
Dollars in thousands
|
|
2018
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
GAAP selling, general and administrative
expenses
|
|
$
|
48,283
|
|
$
|
47,236
|
|
$
|
40,016
|
|
$
|
136,695
|
|
$
|
109,496
|
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: Amortization of customer relationships
and acquired intangible assets
|
|
|
(5,080)
|
|
|
(4,629)
|
|
|
(3,279)
|
|
|
(14,298)
|
|
|
(9,638)
|
|
Less: Merger costs
|
|
|
(2,460)
|
|
|
(2,666)
|
|
|
(3,654)
|
|
|
(5,739)
|
|
|
(4,839)
|
|
Non-GAAP adjusted selling, general and
administrative expenses
|
|
$
|
40,743
|
|
$
|
39,941
|
|
$
|
33,083
|
|
$
|
116,658
|
|
$
|
95,019
|
|
Research and development expenses
|
|
$
|
14,177
|
|
$
|
13,125
|
|
$
|
11,958
|
|
$
|
40,501
|
|
$
|
34,148
|
|
Non-GAAP adjusted operating expenses
|
|
$
|
54,920
|
|
$
|
53,066
|
|
$
|
45,041
|
|
$
|
157,159
|
|
$
|
129,167
|
|
|
Quarter Ended
|
|
Nine Months Ended
|
|
|
June 30,
|
|
March 31,
|
|
June 30,
|
|
June 30,
|
|
June 30,
|
|
Dollars in thousands
|
|
2018
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
GAAP equity in earnings of equity method
investments
|
|
$
|
1,329
|
|
$
|
1,422
|
|
$
|
2,530
|
|
$
|
4,931
|
|
$
|
7,249
|
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Add: BioCision stub period adjustment
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
203
|
|
Non-GAAP adjusted equity in earnings of equity
method investments
|
|
$
|
1,329
|
|
$
|
1,422
|
|
$
|
2,530
|
|
$
|
4,931
|
|
$
|
7,452
|
|
|
Brooks Semiconductor Solutions Group
|
|
Brooks Life Sciences
|
|
|
Quarter Ended
|
|
Quarter Ended
|
|
|
June 30,
|
|
March 31,
|
|
June 30,
|
|
June 30,
|
|
March 31,
|
|
June 30,
|
|
Dollars in thousands
|
|
2018
|
|
2018
|
|
2017
|
|
2018
|
|
2018
|
|
2017
|
|
GAAP gross profit
|
|
$
|
70,634
|
|
$
|
65,299
|
|
$
|
58,083
|
|
$
|
18,587
|
|
$
|
18,930
|
|
$
|
13,489
|
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of completed
technology
|
|
|
1,147
|
|
|
570
|
|
|
626
|
|
|
357
|
|
|
412
|
|
|
425
|
|
Purchase accounting impact on
inventory and contracts acquired
|
|
|
736
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
71
|
|
Non-GAAP adjusted gross profit
|
|
$
|
72,517
|
|
$
|
65,869
|
|
$
|
58,709
|
|
$
|
18,944
|
|
$
|
19,342
|
|
$
|
13,985
|
|
|
Brooks Semiconductor Solutions Group
|
|
Brooks Life Sciences
|
|
|
Nine Months Ended
|
|
Nine Months Ended
|
|
|
June 30,
|
|
June 30,
|
|
June 30,
|
|
June 30,
|
|
Dollars in thousands
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
GAAP gross profit
|
|
$
|
195,386
|
|
$
|
154,877
|
|
$
|
53,279
|
|
$
|
38,162
|
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of completed technology
|
|
|
2,250
|
|
|
1,879
|
|
|
1,140
|
|
|
1,226
|
|
Purchase accounting impact on inventory and
contracts acquired
|
|
|
736
|
|
|
125
|
|
|
1,160
|
|
|
398
|
|
Non-GAAP adjusted gross profit
|
|
$
|
198,372
|
|
$
|
156,881
|
|
$
|
55,579
|
|
$
|
39,786
|
|
|
Brooks Semiconductor Solutions Group
|
|
Brooks Life Sciences
|
|
|
|
Quarter Ended
|
|
Quarter Ended
|
|
|
|
June 30,
|
|
March 31,
|
|
June 30,
|
|
June 30,
|
|
March 31,
|
|
June 30,
|
|
|
Dollars in thousands
|
|
2018
|
|
2018
|
|
2017
|
|
2018
|
|
2018
|
|
2017
|
|
|
GAAP gross margin
|
|
|
40.6
|
%
|
|
41.1
|
%
|
|
40.1
|
%
|
|
37.4
|
%
|
|
39.0
|
%
|
|
36.7
|
%
|
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of completed
technology
|
|
|
0.7
|
%
|
|
0.4
|
%
|
|
0.4
|
%
|
|
0.7
|
%
|
|
0.8
|
%
|
|
1.2
|
%
|
|
Purchase accounting impact on
inventory and contracts acquired
|
|
|
0.4
|
%
|
|
—
|
|
|
—
|
%
|
|
—
|
%
|
|
—
|
%
|
|
0.2
|
%
|
|
Non-GAAP adjusted gross margin
|
|
|
41.7
|
%
|
|
41.5
|
%
|
|
40.5
|
%
|
|
38.1
|
%
|
|
39.8
|
%
|
|
38.0
|
%
|
|
|
Brooks Semiconductor Solutions Group
|
|
Brooks Life Sciences
|
|
|
Nine Months Ended
|
|
Nine Months Ended
|
|
|
June 30,
|
|
June 30,
|
|
June 30,
|
|
June 30,
|
|
Dollars in thousands
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
GAAP gross margin
|
|
41.2
|
%
|
|
38.1
|
%
|
|
36.6
|
%
|
|
36.4
|
%
|
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of completed technology
|
|
0.5
|
%
|
|
0.5
|
%
|
|
0.8
|
%
|
|
1.2
|
%
|
|
Purchase accounting impact on inventory and
contracts acquired
|
|
0.1
|
%
|
|
—
|
%
|
|
0.8
|
%
|
|
0.4
|
%
|
|
Non-GAAP adjusted gross margin
|
|
41.8
|
%
|
|
38.6
|
%
|
|
38.2
|
%
|
|
38.0
|
%
|
|
|
Brooks Semiconductor Solutions Group
|
|
Brooks Life Sciences
|
|
Total Segments
|
|
|
Quarter Ended
|
|
Quarter Ended
|
|
Quarter Ended
|
|
|
June 30,
|
|
March 31,
|
|
June 30,
|
|
June 30,
|
|
March 31,
|
|
June 30,
|
|
June 30,
|
|
March 31,
|
|
June 30,
|
|
Dollars in thousands
|
|
2018
|
|
2018
|
|
2017
|
|
2018
|
|
2018
|
|
2017
|
|
2018
|
|
2018
|
|
2017
|
|
GAAP operating profit
|
|
$
|
33,674
|
|
$
|
30,836
|
|
$
|
26,188
|
|
$
|
2,034
|
|
$
|
2,683
|
|
$
|
1,134
|
|
$
|
35,708
|
|
$
|
33,519
|
|
$
|
27,322
|
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of completed
technology
|
|
|
1,147
|
|
|
570
|
|
|
626
|
|
|
357
|
|
|
412
|
|
|
425
|
|
|
1,504
|
|
|
982
|
|
|
1,051
|
|
Purchase accounting impact on inventory
and contracts acquired
|
|
|
736
|
|
|
—
|
|
|
|
|
|
—
|
|
|
—
|
|
|
71
|
|
|
736
|
|
|
—
|
|
|
71
|
|
Non-GAAP adjusted operating profit
|
|
$
|
35,557
|
|
$
|
31,406
|
|
$
|
26,814
|
|
$
|
2,391
|
|
$
|
3,095
|
|
$
|
1,630
|
|
$
|
37,948
|
|
$
|
34,501
|
|
$
|
28,444
|
|
|
Total Segments
|
|
Corporate
|
|
Total
|
|
|
Quarter Ended
|
|
Quarter Ended
|
|
Quarter Ended
|
|
|
June 30,
|
|
March 31,
|
|
June 30,
|
|
June 30,
|
|
March 31,
|
|
June 30,
|
|
June 30,
|
|
March 31,
|
|
June 30,
|
|
Dollars in thousands
|
|
2018
|
|
2018
|
|
2017
|
|
2018
|
|
2018
|
|
2017
|
|
2018
|
|
2018
|
|
2017
|
|
GAAP operating profit (loss)
|
|
$
|
35,708
|
|
$
|
33,519
|
|
$
|
27,322
|
|
$
|
(9,029)
|
|
$
|
(9,700)
|
|
$
|
(8,552)
|
|
$
|
26,679
|
|
$
|
23,819
|
|
$
|
18,770
|
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of completed
technology
|
|
|
1,504
|
|
|
982
|
|
|
1,051
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,504
|
|
|
982
|
|
|
1,051
|
|
Amortization of customer
relationships and acquired
intangible assets
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
5,080
|
|
|
4,629
|
|
|
3,279
|
|
|
5,080
|
|
|
4,629
|
|
|
3,279
|
|
Restructuring charges
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
82
|
|
|
49
|
|
|
828
|
|
|
82
|
|
|
49
|
|
|
828
|
|
Purchase accounting impact
on inventory and contracts
acquired
|
|
|
736
|
|
|
—
|
|
|
71
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
736
|
|
|
—
|
|
|
71
|
|
Merger costs
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2,460
|
|
|
2,666
|
|
|
3,654
|
|
|
2,460
|
|
|
2,666
|
|
|
3,654
|
|
Non-GAAP adjusted
operating profit (loss)
|
|
$
|
37,948
|
|
$
|
34,501
|
|
$
|
28,444
|
|
$
|
(1,407)
|
|
$
|
(2,356)
|
|
$
|
(791)
|
|
$
|
36,541
|
|
$
|
32,145
|
|
$
|
27,653
|
|
|
Brooks Semiconductor Solutions Group
|
|
Brooks Life Sciences
|
|
Total Segments
|
|
|
Nine Months Ended
|
|
Nine Months Ended
|
|
Nine Months Ended
|
|
Dollars in thousands
|
|
June 30, 2018
|
|
June 30, 2017
|
|
June 30, 2018
|
|
June 30, 2017
|
|
June 30, 2018
|
|
June 30, 2017
|
|
GAAP operating profit
|
|
$
|
90,872
|
|
$
|
63,562
|
|
$
|
4,577
|
|
$
|
2,535
|
|
$
|
95,449
|
|
$
|
66,097
|
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of completed
technology
|
|
|
2,250
|
|
|
1,879
|
|
|
1,140
|
|
|
1,226
|
|
|
3,390
|
|
|
3,105
|
|
Purchase accounting impact on
inventory and contracts acquired
|
|
|
736
|
|
|
125
|
|
|
1,160
|
|
|
398
|
|
|
1,896
|
|
|
523
|
|
Non-GAAP adjusted operating profit
|
|
$
|
93,858
|
|
$
|
65,566
|
|
$
|
6,877
|
|
$
|
4,159
|
|
$
|
100,735
|
|
$
|
69,725
|
|
|
Total Segments
|
|
Corporate
|
|
Total
|
|
|
Nine Months Ended
|
|
Nine Months Ended
|
|
Nine Months Ended
|
|
Dollars in thousands
|
|
June 30, 2018
|
|
June 30, 2017
|
|
June 30, 2018
|
|
June 30, 2017
|
|
June 30, 2018
|
|
June 30, 2017
|
|
GAAP operating profit (loss)
|
|
$
|
95,449
|
|
$
|
66,097
|
|
$
|
(24,111)
|
|
$
|
(19,365)
|
|
$
|
71,338
|
|
$
|
46,732
|
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of completed
technology
|
|
|
3,390
|
|
|
3,105
|
|
|
—
|
|
|
—
|
|
|
3,390
|
|
|
3,105
|
|
Amortization of customer
relationships and acquired intangible
assets
|
|
|
—
|
|
|
—
|
|
|
14,298
|
|
|
9,638
|
|
|
14,298
|
|
|
9,638
|
|
Restructuring charges
|
|
|
—
|
|
|
—
|
|
|
131
|
|
|
2,663
|
|
|
131
|
|
|
2,663
|
|
Purchase accounting impact on
inventory and contracts acquired
|
|
|
1,896
|
|
|
523
|
|
|
—
|
|
|
—
|
|
|
1,896
|
|
|
523
|
|
Merger costs
|
|
|
—
|
|
|
—
|
|
|
5,739
|
|
|
4,839
|
|
|
5,739
|
|
|
4,839
|
|
Non-GAAP adjusted operating profit (loss)
|
|
$
|
100,735
|
|
$
|
69,725
|
|
$
|
(3,943)
|
|
$
|
(2,225)
|
|
$
|
96,792
|
|
$
|
67,500
|
View original content:http://www.prnewswire.com/news-releases/brooks-automation-reports-results-of-fiscal-third-quarter-of-2018-ended-june-30-2018-300692596.html
SOURCE Brooks Automation